Accounting Information Systems (AIS) Chapters 1-3 well answered to pass, Exams of Nursing

Download Accounting Information Systems (AIS) Chapters 1-3 well answered to pass and more Exams Nursing in PDF only on Docsity!

Accounting Information Systems (AIS)

Chapters 1-

Validity - correct answer ✔✔Information about actual authorized events and objectives. Data - correct answer ✔✔Facts or figures in raw form. Represents the measurement of observation of objects an events to be useful to a decision maker it most be transformed into information. Accounting Information Systems (AIS) - correct answer ✔✔Is a specialized subsystem of the IS that collects,processes and reports information related to the financial aspects of business. Management Processes - correct answer ✔✔A system consisting of the people, authority, organization, policies, and procedures whose objective is to plan, and control the operations of the organization. Comparability - correct answer ✔✔Information quality that enables users to identify similarities and differences in two pieces of information. Neutrality or Freedom From Bias - correct answer ✔✔Means that the information is objective. Timeliness - correct answer ✔✔Information available to a decision maker before it loses its capacity to influence a decision. Efficiency - correct answer ✔✔Concerns the obtaining and use of information through the optimal must productive and economical use of resources. Sarbanes Oxley Act - correct answer ✔✔Management must identify, document, evaluate significant internal controls. Auditors must report on the effectiveness of the organization's system of internal controls.

Control - correct answer ✔✔Of business processes. The means by which we make sure the intended actually happens. Relevance - correct answer ✔✔Information that is capable of making a difference in a decision- making situation by reducing uncertainty or increasing knowledge for that particular decision. E-Business - correct answer ✔✔Is the application of electronic networks to undertake business processes between individuals and organizations. Predictive Value & Feedback Value - correct answer ✔✔Improve a decision makers capability to predict, confirm, or correct earlier expectations. Reliability - correct answer ✔✔The Information is true and credible Availability - correct answer ✔✔Information quality goals under the accessibility and security heading. Integrity - correct answer ✔✔The Information is free from errors and complete Compliance - correct answer ✔✔Information must conform to specifications is covered by any of the information quality goals, depending on the requirements. Database - correct answer ✔✔The Full accounting Cycle, however, includes data collection, and storage. Choice - correct answer ✔✔Selecting a Course of Action Subsystem - correct answer ✔✔A part of a system. Whiten limits, any subsystem can be further divided into its component parts or subsystems. Event Processing - correct answer ✔✔As organizations undertake their business operations, events- such as sales, and purchases- occur. Data about these events must be captured and recorded to mirror and monitor the business operations.

Management Decision Making - correct answer ✔✔The information used for a decision must be tailored to the type of decision under consideration. The information is more useful if it recognizes the personal management styles and preferences of the decision maker. Technology - correct answer ✔✔Ability to plan and manage business or operations depends partly on knowledge of the technology available. Information Systems - correct answer ✔✔A man-made system that generally consist of an integrated set of computer-based components and manual components established to collect, store, manage data and to provide output of information to users. Understandability - correct answer ✔✔Enables users to perceive the information's significance. Effectiveness - correct answer ✔✔Information is effective if it meets the needs of the information consumers who uses the information for a specific task. Logical Components of Business Processes - correct answer ✔✔Operations processes, Management Processes, Management uses of Information. Horizontal Information Flow - correct answer ✔✔Relate to specific business events, such as one shipment, or to individual inventory items. Reporting - correct answer ✔✔To design reports generated by an information system, the accountant must know what output are required or are desirable. System Development Operation - correct answer ✔✔The information systems that process business events and provide information for management decision making must be designed, implemented, and effectively operated. Design - correct answer ✔✔Inventing, developing, ad analyzing possible courses of action. Application Program interface (API) - correct answer ✔✔A means for connecting to a system or a application provided by the developer of that system or application.

Supply Chain Management Software (SCM) - correct answer ✔✔The combination of processes and procedures used to ensure the delivery of goods and services to customers at the lowest cost while providing the highest value to the customer. Product Life-cycle management software - correct answer ✔✔Software that manages product data during a products life, beginning with the design of the product, continuing through manufacturing, and culminating in the disposal of the product at the end of its life cycle. Sales force Automation software (SFA) - correct answer ✔✔Software that automates sales tasks such as order processing, contact management, inventory monitoring, order tracking, and employee performance evaluation. 5 modules of ERP - correct answer ✔✔Sales & distribution, materials management, financial accounting, controlling and profitability analysis, human capital management. Business Analytics - correct answer ✔✔Use of state of the art information technologies to analyze data stores too large too unstructured to be contained in the traditional data warehouse used in business intelligence Enterprise resource planning (ERP) - correct answer ✔✔Software packages used for core systems necessary to support enterprise systems. Big Data - correct answer ✔✔Extremely large data sets that are analyze by specialized computer applications to produce information that can be used in the decision- making process. Business Event - correct answer ✔✔A meaningful change in the state of the enterprise such as creating a new employee record, submitting a purchase order. Customer Relationship Management Software(CRM) - correct answer ✔✔A software application used to build and maintain an organizations customer - related database

Customer Self-Service Software (CSS) - correct answer ✔✔Software that allows an organizations customers to complete an inquiry, perform a task, or troubleshoot problems without the aid of an organizations employees. Enterprise Application Integration (EAI) - correct answer ✔✔Combines processes, software, standards, and hardware to link together two or more systems and allow them to operate as one. Business Process Management (BPM) - correct answer ✔✔Modeling, automating, managing, and optimizing business processes; often used interchangeably with business process management systems. Value Chain - correct answer ✔✔A chain of activities performed by the organization to transform inputs into outputs valued by the customer. Order to Cash Process - correct answer ✔✔A process that includes the events surrounding the sales of goods to a customer, the recognition of the revenue, and the collection of the customer payments. Purchase- to -Pay Process - correct answer ✔✔A process that includes the events surrounding the purchase of goods from a vendor, the recognition of the cost of those goods and the payment to the vendor. Add- On Modules of ERP - correct answer ✔✔Customer relationship management(CRM), Product life- cycle management (PLM), Supply Chain Management(SCM), & Supplier relationship Management( SRM) Best-of-Breed Approach - correct answer ✔✔Combines modules from various vendors to create an information system that better meets an organizations need than a standard ERP System Middleware - correct answer ✔✔A software product that connects two or more separate applications or software modules. Accuracy - correct answer ✔✔The correspondence or agreement between the information and the actual events or objective that the info represents.

Record - correct answer ✔✔( A row in a table) is a collection of related characteristics that comprise an attribute, such as a customer name. Confidentiality - correct answer ✔✔Restricted access information quality. Completeness - correct answer ✔✔Is the degree to which information includes data about every relevant object or event necessary to make a decision and includes that information only once. Enterprise System - correct answer ✔✔Integrate business process and information from all of an organizations functional areas. Marketing, & sales, cash receipts, purchasing, cash disbursement, human resources, production, and logistics, and business and financial reporting. Enterprise system - correct answer ✔✔Enterprise Systems Information systems that integrate the business process and information from all of an organizations functional areas Section 409 of SOX - correct answer ✔✔Requires disclosure to the public on a rapid and current basis of material changes in an organization's financial condition. Communication - correct answer ✔✔To present the results of their endeavors effectively, accountants must posses strong oral and written communication skills. Components of the Study of AIS - correct answer ✔✔Technology, Database, Reporting, Control, Events Processing, Management Decision Making, systems development and operations, accounting and auditing principles, business operations, communications. Intelligence - correct answer ✔✔Searching the environment for conditions calling for decision. Business Operations - correct answer ✔✔Organization engage in activities or operations, such as hiring employees, purchasing inventory, and collecting cash from customers. Characters - correct answer ✔✔A basic unit of data such as a letter, or #.

Table - correct answer ✔✔( or File) is a collection of related records. Matrix - correct answer ✔✔Tools designed to help you analyze a situation and relate processes to desired results Systems - correct answer ✔✔A set of interdependent elements that together accomplish specific objective. Must have organization, inter-relationship, integration, and central objective. Accounting and Auditing Principles - correct answer ✔✔To design and operate the accounting system, an accountant must know the proper accounting procedures and must understand the audits to which the accounting info will be subject. Internal Control - correct answer ✔✔Is a process effected by the board of directors, management, and other personnel to provide reasonable assurance that organizational objectives will be achieved in efficiency and effectiveness or operations, reliability or reporting, and compliance with laws and regulations. Vertical Information Flow - correct answer ✔✔A multi- level management function from operations and transaction processing through tactical operations, and strategic management. Operations Processes - correct answer ✔✔A system consisting of the people, equipment, organization, policies, and procedures whose objective is to accomplish the work of the organization. Information - correct answer ✔✔Data presented in a form that is useful in a decision making activity. It has a value to the decision maker because it reduces uncertainty and increases knowledge about a particular area of concern. Value - Added Network (VAN) - correct answer ✔✔A service that acts as the EDI " Post office" an organization can connect to the VAN when it wants, leave its outgoing message, and at the same time, pick up upcoming messages from its " mailbox. Web service - correct answer ✔✔A software application that supports direct interaction with software objects over a intranet or the internet

Wide Area Network WANs - correct answer ✔✔Communications networks that link distributed users and local networks into an integrated communications network. Network Providers - correct answer ✔✔Companies that provide a link to the internet by making their directly connected networks available for access by fee- paying customers. Master Data - correct answer ✔✔Repositories of relatively permanent data maintained over an extended period of time. OFFLINE - correct answer ✔✔A device that is not directly connected to a central computer or network. Online Transaction Entry(OLTE) - correct answer ✔✔The use of data entry devices allows business events data to be entered directly into the info. system at the time and place that the business event occurs. Online - correct answer ✔✔A computer configuration in which certain equipment is directly connected to the computer Online Real-Time System (OLRT) - correct answer ✔✔These systems gather business events data at the time of occurrence, update the master data almost instantaneously, and provide the results arising within a very short amount of time - that is, in real time. Summarize - correct answer ✔✔Prepare a trail balance to show the total impact on each general ledger account of a set of business events. service- oriented architecture (SOA) - correct answer ✔✔Well - defined, independent functions that can be distributed over a network via web services. Standing Data - correct answer ✔✔Relatively permanent portions of master data, such as the credit limit on customer master data and the selling price and warehouse location on inventory data. Information Processing - correct answer ✔✔One Type of master data update that includes recording info. from events such as accounting,manufacturing, and adjusting entries.

Internet Market Exchanges - correct answer ✔✔The exchanges bring together a variety of suppliers in a given industry with one or more buyers in the same industry to provide internet commerce through organized markets. Internet Auction Markets - correct answer ✔✔Provide an internet base for companies to place products up for bid for buyers to put proposed purchases up for bid. Internet Assurance - correct answer ✔✔A service provided for a fee to vendors to provide limited assurance t users of the vendors Website that the site is in fact reliable, event Data security is reasonable. Internet Commerce - correct answer ✔✔The computer to computer exchange of business event data in structured or semi-structured formats via internet communication that allows the initiation and consummation of business events. Internet EDI (IEDI) - correct answer ✔✔The use of secure,structured messages over the internet to execute business transactions. Internet - correct answer ✔✔A massive interconnection of computer networks worldwide that enables communication between dissimilar technology platform, Immediate Mode - correct answer ✔✔The data processing mode in which little or no delay occurs between any two data processing steps. Journalize - correct answer ✔✔The process of recording a business event on a book of original entry. Post - correct answer ✔✔Moving Business event from a journal to a subsidiary ledger Periodic Mode - correct answer ✔✔the processing mode which a delay exists between any two data processing steps. Local Area Networks (LANS) - correct answer ✔✔Communication network that link several different local users machines with printers, database, and other shared devices.

electronic Mail ( E-mail) - correct answer ✔✔The electronic transmission of non-standardized messages between two individuals who are linked via a communications network Electronic Storefronts - correct answer ✔✔Internet- located resources for displaying goods and services for sale and for conducting related sales events Electronic Document Management (EDM) - correct answer ✔✔The capturing, storage , management, and control of electronic document images for the purpose of supporting management decision making and facilitating business event data processing. Electronic Data Interchange (EDI) - correct answer ✔✔the computer to computer exchange of business data in structured formats that allow direct processing of those electronic documents by the receiving computer system. Extranet - correct answer ✔✔A type of internal network that has been extended to limited external access to members of an organization's value system Enterprise- Wide Information System - correct answer ✔✔Info. system that integrate the business process and info from all of an organizations functional areas, such as marketing and sales, cash receipts, purchasing. Data Maintenance - correct answer ✔✔A type of master data update that includes activities related to adding, deleting, or replacing the standing data portions of master data. Cloud Computing - correct answer ✔✔use of the internet to provide scalable service, such as software, and resources such as data storage to users. Client/ Server Technology - correct answer ✔✔The physical and logical division between user- oriented application programs that are run at the client level and the shared data that must be available through the server. Business Event Data Store - correct answer ✔✔A book of original entry used for recording business events.

Batch Processing - correct answer ✔✔The aggression of several business events over some period of time with the subsequent processing of these data as a group by the information system.