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10 Cards in this Set
- Front
- Back
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Accounting Information Systems (AIS) Definition |
A system that records, processes, and reports on transactions to provide financial and nonfinancial information to make decisions and have appropriate levels of internal controls for those transactions |
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Enterprise System Definition |
A centralized database that collects data from throughout the firm. Commercialized information system that integrates and automates business processes across a form's value chain located within and across organizations. |
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Business Model Definition |
A simple, abstract representation of one or more business processes. A business model is typically a graphical depiction of the essential business process information |
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Activity Model Definition |
Models that describe the sequence of workflow in a business process or processes. |
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Role of the accountant in AIS |
-keep financial records -prepare financial reports -perform audits -*Help address business opportunities (need to decide what info is needed, build info system to gather necessary info, analyze that info to offer helpful advice) PG 4 |
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Relevance |
1. predictive value (help forecast future) 2. feedback value (corrects/confirms predictions) 3. timeliness (available when needed) |
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Reliability |
1. verifiable (can be confirmed by independent) 2. representational faithfulness (reports what actually happened) 3. neutrality (information is not biased) |
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AIS and Firm Profitability (Figure 1.8, pg 17) |
*Revenues- CRM could attract new customers, creating more sales revenue *COGS- SCM can lead to lower logistics and procurement costs *SGA Expenses- SCM allows firms to carry less inventory, lead to less assets to finance & debt *Net Income- CRM & SCM may lead to improved net income |
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Customer Relationship Management (CRM) |
the software used to manage and nurture a firm's interactions with its current and potential clients. Often includes the use of database marketing tools to learn more about customers and potential clients. PG 15 |
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Supply Chain Management (SCM) |
addresses specific segments of the supply chain. Designed to facilitate decision making and optimize the required levels of inventory to be ordered and held in stock. Lowers the required amount of raw materials and FG the firm will have to hold which lowers product costs |
