The Information System: An Accountant’s Perspective
Key Terms
accounting information systems (AIS) (2) agents (31) assurance services (36) attest function (36) auditing (36) auditor (36) backbone systems (15) centralized data processing (21) conceptual system (35) currency of information (27) data (11) data collection (12) data processing (12) data sources (12) data storage (27) data updating (27) database (12) database management (14) database management system (DBMS) (29) database model (29) database tables (30) distributed data processing (DDP) (23) end users (10) enterprise resource planning (ERP) (34) events (31) feedback (14) financial transaction (7) flat-file model (27) general ledger/financial reporting system (GL/FRS) (8) general model for viewing AIS applications (10) independence (21) information (11) information flows (3) information generation (14) information system (6) internal auditing (36) IT auditing (36) legacy systems (27) management information system (MIS) (8) management reporting system (MRS) (8) nonfinancial transactions (8) physical system (35) REA (31) relational database model (30) reliability (20) resources (31) segments (16) stakeholders (4) subsystem (5) system (4) system development life cycle (15) task-data dependency (29) trading partners (4) traditional systems (30) transaction (6) transaction processing system (TPS) (8) turnkey systems (15) vendor-supported systems (15)
Review Questions
1. What are the four levels of activity in the pyramid representing the business organization? Distinguish between horizontal and vertical flows of information. 2. Distinguish between natural and artificial systems. 3. What are the elements of a system? 4. What is system decomposition and subsystem interdependency? How are they related? 5. What is the relationship among data, information, and an information system? 6. Distinguish between AIS and MIS. 7. What are the three cycles of transaction processing systems? 8. What is discretionary reporting? 9. What are the characteristics of good or useful information? 10. What rules govern data collection? 11. What are the levels of data hierarchy? 12. What are the three fundamental tasks of database management? 13. What is feedback and how is it useful in an information system? 14. What are the fundamental objectives of all information systems? 15. What does stewardship mean and what is its role in an information system?
Part I
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