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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