Accounting Information Systems: An overview
11 important questions on Accounting Information Systems: An overview
Explain what an Accounting Information system (AIS) is?
Describe the basic function of an AIS.
2) To supply information useful for management making decisions.
3) To make sure controls are in place to accurately record and process data
Give an example that differentiate Goal conflict and Goal Congruence?
Goal Congruence: Between the two parties there is consistency on using the same method.
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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Describe 10 characteristics of useful information making for decision making.
- Relevant: It reduces uncertainty and adds to the decision making-process
- Reliable: Information that is free from error, and it's accurate in it's nature.
- Useable: Easy to use for different tasks.
- Consistence: Presented in the same format over time.
- Timely: Provided in time for decision maker to make decisions.
- Complete: Information does not omit important aspects of event or activities.
- Verifiable: The ability to verify information free from bias and is true to what it really represent.
- Accessible: It talks about the availability of the information when needed in a useful format.
- Understandability: easily comprehended and interpreted.
- Accurate: Accurate, correct, and free of error.
Under the financing cycle, why do we give cash and get cash at the same time?
What is Artificial intelligence (AI)
How can Data analytics improve decion making?
- Identifying a problem/issue for management to resolve.
- Collecting the data needed to solve to solve the problem, analyze it and make recommendations to management on how to resolve it.
- Integrating actionanle insights into the systems used to make decisions.
What is the role of the AIS in the value chain?
To provide value to customers, most organizations perform a number of different activities. Those activities can be conceptualized in the form of a value chain, which covers linking together all the primary and support activities in a business. In this process, value is added as a product passes through the chain.
What are the four support activities of the value chain?
Four support activities:
1. Firm infrastructure: the accounting, finance, legal, and general administration activities that allow an organization to function – AIS is part of it.
2. Human resources: activities that include recruiting, hiring, training, and
compensating employees.
3. Technology: activities that improve a product or service.
4. Purchasing: activities that procure raw materials, supplies, machinery, and the buildings used to carry out the primary activities.
What is Internet of Things (IoT)
Is AIS influenced by Organization's strategy
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
