ACG 4401 > Midterm > Flashcards

Midterm Flashcards

(65 cards)

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1
Q

Transaction

A

an event that affects or is of interest to the organization and is processed by its information system as a unit of work

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2
Q

Information system

A

set of formal procedures by which data are

  1. collected
  2. processed into information
  3. distributed to users
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3
Q

Financial Transactions

A

economic events that affect the assets and equities of the organization, is reflected in its accounts, and is measured in monetary terms
ex. purchasing plane ticket

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4
Q

Nonfinancial Transactions

A

other events processed by the organizations info system

ex. making an airline reservation

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5
Q

AIS (Accounting information systems)

A

financial transactions and non financial transactions that DIRECTLY affect the processing of financial transactions
ex. of non financial: involves future revenue but no cash as of yet

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6
Q

MIS (Management Information Systems)

A 
Financial Management Systems
Marketing System
Distribution SYstems 
Human Resources Systems
non financial transactions that are not normally processed by AIS ex. tracking customer complaints
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7
Q

Transaction Processing System

A

supports daily business operations

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8
Q

General Ledger/Financial Reporting System

A

produces financial statements and reports

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9
Q

Management Reporting System

A

produces special-purpose reports for internal users

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10
Q

Data Sources

A

financial transactions that enter the information system from either internal or external sources

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11
Q

data

A

facts which may or may not be processed and have NO direct effect on users actions
ex. report of raw material for personnel manager –>insignificant

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12
Q

information

A

causes the user to take an action that he or she otherwise would not have taken
ex. report of raw materials given to purchasing agent, agent places order for more inventories if low–>significant

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13
Q

external financial transactions

A

most common sources of data

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14
Q

Data Collection

A

Easiest place for fraud to be committed

Valid, Complete, Free from Error, efficient and Relevant

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15
Q

Data Processing

A 
Math Algorithms 
Summarizing 
comparing 
merging
transcribing
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16
Q

Database Management

A

physical repository for financial and non financial data –>Store Retrieve and Delete

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17
Q

Information Generation

A

process of compiling arranging formatting and presenting information that is useful–> data has been created into info

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18
Q

Database Management

A

physical repository for financial and non financial data –>Store Retrieve and Delete

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19
Q

Information Generation

A

process of compiling arranging formatting and presenting information that is useful

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20
Q

Attribute

A

Characteristics–>AR
ex.Customer Account
Customer Name
Customer Address

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21
Q

Usefulness of Information

A 
CRATS 
Completeness
Relevance
Accuracy
Timeliness
Summarization: aggregated in accordance with the users needs
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22
Q

File

A

complete set of records –>all ppl in AR

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23
Q

SUb systems of IS

A

AIS and MIS

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24
Q

System

A

two or more interrelated components or subsystems that have or serve a common purpose

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25
System Interdependency
Harmonious interaction between subsystems to make the system efficient
26
Reliability
Value of information determined by_____________ | Must have CRATS
27
System Interdependency
Harmonious interaction between subsystems to make the system efficient
28
Reliability
Value of information
29
Accounting independence
duty segregation
30
Centralized Data Processing
all data processing is performed by one or more large computers housed in a common data center that serves users throughout the organization
31
master file
Contains account data ex. Accounts Receivable General Ledger Subsidiary Ledger
32
Transaction File
temporary file containing transactions since last update --> used to update data in a master file ex. to record transactions last used Doesnt record everything bc its temporary
33
Reference File
stores data that are used as standards for processing transactions ex. use it for referencing cheat sheet to get formulas, tax tables, constant information
34
Confirmation
contacts selected customers to determine if the transactions recorded in the accounts actually took place and that customers agree with the recorded balance
35
Sampling Techniques
examines a representative subset of transactions
36
Advantages of DDP
- Cost reduction: Types of computers large vs. small | - improve cost control responsibility
37
Disadvantage DDP
- inefficient use of resources-since your not sharing if you need some info you need to ask or make your own of something that is already done - destruction of audit trails--paper trails that trace processing of info --> separated cant keep track - inadequate segregation of duties - inc. potential for programming errors - lack of standards: do whatever they want with it
38
IPU Information Processing Units
reorganizes the IT function into these smaller units that are distributed to end users (departments) and placed under their controls --NOT SHARED Have full control over their resources
39
Distributed data processing
reorganizing the computer services function into small info processing units that are distributed to end users and placed under their control
40
Expenditure Cycle
incurs expenses in exchange for resources-> by resources pay employees to convert products and physical plant - Don’t produce→use cash to attain the resources to convert raw materials into finish goods - Purchasing/Accounts Payable: usually buy on account, purchasing raw materials, pay for physical plant - Cash Disbursements: when cash is going outward→ cash is going outward towards accounts payable - Payroll: pay for ppl to make your product - Fixed Assets: physical plant or building in which you create product
41
Archive File
contains past transactions for future reference and form an important part of audit trail actually contains all the past transactions
42
Digital Audit Trail
Computerized Audit Trail
43
Flat FIle System
not integrated--> decentralized submit everything several times dont use an integrated system describes an environment in which individual data files are not related to other files -end users own the files rather than owning (just like DDP)
44
Data Redundancy Problems
- data updating: updated separately - data storage: instead of sharing info data is stored several times for ea. user which incurs several costs - currency of information: with all separate files with all the separate files it is harder to change everything which will effect status of information then decisions will be made up of old data - task-data dependency: not current bc not updated right so the ppl they cant obtain additional info as needs change - data integration: NOT integrated; multiple accounts-->difficult to integrate when have different users
45
Problems with Flat-File Model
1. Data Storage 2. Data Updating 3. Currency of Information 4. Task-Data Dependency 5. Data Integration
46
Database Model
Opposite of Flat-File Model
47
Database Model
Opposite of Flat-File Model
48
Master File Transaction File Reference File Archive File
MTRA
49
Master File Transaction File Reference File Archive File
MTRA
50
Data Base Management System
integrated part of the system
51
ERD: entity
source of data | ex. customer
52
ERD: cardinalities
numeric mapping btw entities (1:1) (1:M) (M:M)
53
data flow diagram
uses symbols to represent the entities, processes, data flows, and data stores that pertain to a system
54
Arrow
Direction of data flow
55
Square
Entity (NOUN)
56
Rectangle with rounded off sides
process description (VERB)
57
Data Store Name
where everything is stored into cigarette butt
58
System Flowcharts
graphical representation of the Physical relationships among key elements of a system
59
System Flowcharts
Sales Department Credit Department Warehouse Shipping Department
60
Data Store Name
where everything is stored into cigarette butt
61
System Flow Chart
Graphical Physical Representation of relationships among key elements of a system
62
System Flowcharts
Sales Department Credit Department Warehouse Shipping Department
63
Data Flow Chart
Symbols
64
System Flow Chart
Graphical Representation of relationships among key elements of a system
65
Primary Key
unique attribute
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