Summary: Accounting Analytics

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  • Lecture 1

    This is a preview. There are 77 more flashcards available for chapter 20/03/2018
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  • What are the most important characteristics of Big Data?

    - Volume: amount of data
    - Velocity (snelheid): due to competition, speed is crucial
    - Variety: different types of data
  • What is an Information System?

    An information system is the set of formal procedures by which data are collected, processed into information, and distributed to users. --> input, process, output
  • What are the major AIS objectives?

    The major AIS objectives are to support:
    - the stewardship function of management
    - management decision making
    - the firm's day-to-day operations
  • Who are the users of Accounting Information System

    - Employees (managers, employees in production, employees in other levels)
    - Auditors
    - Investors
    - Tax authorities
  • What are examples of internal users (managerial/strategic)?

    - Departmental managers
    - Financial accountants
    - Management accountants
    - Internal auditors
  • What are examples of the MRS output (managerial/strategic)?

    - Budgets
    - Variance reports
    - Performance reports
    - Cost-volume-profit analysis
  • What are examples of internal users (operational)?

    - Customer representative
    - Warehouse worker
    - Factory staff
    - Payroll staff
  • What are the examples of the MRS output (operational)?

    - Customer buying history
    - Expected inventory list
    - Production schedule
    - Employee records
  • What are example of external users?

    - Shareholders
    - Suppliers
    - Potential lenders
    - External auditors
    - Market regulators
    - Government regulators
    - Taxation authorities
    - Other interest groups such as trade unions, employee groups, ...
  • What are examples of GL/FRS outputs?

    - Published profit and loss accounts
    - Balance sheet
    - Cash flow statements
    - Tax declaration

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