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32 Cards in this Set
- Front
- Back
defined as a system that records, processes and reports on transactions to provide financial and non-financial information to make decisions and have appropriate levels of internal controls (security measures to protect sensitive data) for those transactions. |
accounting information system (AIS) AIS is important because it provides information that companies are required to have and also information that can be used to make important decisions. |
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Why study AIS? |
It is fundamental to accounting |
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To be useful information must have these attributes |
Relevant Reliable |
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information that is capable of making adifference in a decision• Predictive Value• Feedback Value• Timely |
Relevant |
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information that is free from bias and error• Verifiable• Representational Faithfulness• Neutrality |
Reliable |
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simply raw facts that describe an event and havelittle meaning on their own |
Data |
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defined as being data organized in ameaningful way to be useful to the user. Data serves as aninput. |
Information |
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is information thatis not required by law. |
Discretionary information |
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is information that isrequired by law |
Mandatory information |
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Role of Accountants in AISs, system analysts |
Designer |
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Role of Accountants in AISs, database admin |
Implementer |
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Role of Accountants in AISs, recording JE |
User |
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Role of Accountants in AISs, auditor |
Evaluator |
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Role of Accountants in AISs, controller or CFO |
Manager |
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Perform IT Audits |
Certified Information Systems Auditor (CISA) |
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Work to effectively and efficiently manageinformation while ensuring the data’s reliability,security, accessibility and relevance |
Certified Information Technology Professional(CITP) |
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Globally accepted certification for internal auditors |
Certified Internal Auditor |
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activities associated with receiving andstoring raw materials and other partially completed materials, anddistributing those materials to manufacturing when and where theyare needed. |
Inbound logistics |
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activities that transform inputs into finishedgoods and services (e.g. turning wood into furniture for a furnituremanufacturer; building a house for a home builder). |
Operations |
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activities that warehouse and distributethe finished goods to the customers |
Outbound logistics |
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identify the needs and wants of theircustomers to help attract them to the firm’s products and buythem. |
Marketing and sales activities |
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provide the support of customers after theproducts and services are sold to them |
Service activities |
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all of the activities neededto support the firm, including the CEO, finance, accounting,and legal. |
Firm infrastructure |
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activities include recruiting,hiring, training and compensating employees. |
Human resource management |
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activities include all of the technologies tosupport value-creating activities. These alsoinclude research and development to develop newproducts or research and development to determine waysto produce products at a cheaper price |
Technology |
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involve purchasing inputs such asraw materials, supplies, and equipment. |
Procurement activities |
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T/F AIS usually serve as the as the foundation for theenterprise (or ERP) system. |
TRUE |
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centralized databasethat collects data from throughout the companyincluding orders, customers, sales, inventory, andemployees. |
ENTERPRISE SYSTEM |
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can take an order froma customer, fill the order, ship it, and thencreate an invoice to bill the customer |
enterprise system |
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refers to the flow ofmaterials, information, payments, andservices from suppliers all the way throughthe customer. |
supply chain |
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canbe used to optimize processes within thesupply chain |
Supply Chain Management software |
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This software is used to manageinteractions with customers. – Track customer purchases. – Ensure customer satisfaction. – Product placement |
Customer Relationship Management |