Acct 3371: Ch. 1

Front 1

system

Back 1

a set of two or more interrelated components that interact to achieve a goal

Front 2

data

Back 2

facts that are collected, recorded, stored, and processed by an information system

Front 3

information

Back 3

data that have been organized and processed to provide meaning and improve the decision-making process

Front 4

business process

Back 4

a set of related, coordinated, and structured activities and tasks that are performed by a person or by a computer or a machine, and that help accomplish a specific organizational goal

Front 5

transaction

Back 5

an agreement between two entities to exchange goods or services or any other event that can be measured in economic terms by an organization

Front 6

1. revenue cycle
2. expenditure cycle
3. production or conversion cycle
4. human resources/payroll cycle
5. financing cycle

Back 6

5 major business processes or transaction cycles

Front 7

1. people
2 procedures
3. data
4. software
5. information technology infrastructure
6. internal controls and security measures

Back 7

6 components of AIS

Front 8

1. collect and store data
2. transform data into information
3. provide adequate controls to safeguard the organization's assets and data

Back 8

3 important business functions

Front 9

1. inbound logistics
2. operations
3. outbound logistics
4. marketing and sales
5. service

Back 9

5 primary activities in value chain

Front 10

1. firm infrastructure
2. human resources
3. technology
4. purchasing

Back 10

4 support activities