+
Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
|
MANDATORY INFORMATION
|
Information that must be supplied
|
|
ESSENTIAL INFORMATION
|
Info that is simply needed to do business
|
|
EXAMPLE OF ESSENTIAL INFORMATION
|
The price of a product or a shipping address
|
|
DISCRETIONARY INFORMATION
|
Information that a company might or might not choose to produce
|
|
____ info and ____ info are provided to external users while ____ info is provided to internal users
|
Essential; mandatory; discretionary
|
|
What are the 6 components of AIS
|
People (cost of info. Function) 2. procedures/instructions 3. data 4.software 5.information technology structure 6.internal controls/security measures
|
|
Three AIS important business functions
|
collects and data (about organizational activities, resources, and personnel)
Transforms data into information that is useful (for making decisions so managemtn can plan, execute, control, and evaluate activities, resources, and personnel) provide adequate controls (to safeguard the organizations assets and data and ensure the assets and data are available when needed and the data are accurate and reliable |
|
Transaction
|
An agreed upon exchange between 2 or more parties at an agreed upon amount
|
|
Strike price
|
The agreed upon amount in a transaction
|
|
Transaction processing
|
Recording data, organizing data in ways that are useful, storing data, giving data
|
|
The
output of a transaction processing system is usually associated with helping
management to do what? Also, the most common type?
|
To make better decisions; financial statements
|
|
12. The field that specializes in transaction processing?
|
Accounting *”transaction processing specializers”
|
|
13. Accountants are also ___
|
Information professionals
|
|
14. What do accountants do with the information?
|
Record, structure, analyze
|
|
15. 4 steps in the data processing cycle?
|
Date input, data storage, data processing, data output
|
