The information system: an accountant's perspective
20 important questions on The information system: an accountant's perspective
What are the three basic types of commercial software?
turnkey systems, backbone systems and vendor-supported systems.
Turnkey systems are completely finished and tested systems that are ready for implementation.
Backbone systems consist of a basic system structure on which to build.
Vendor-supported systems are custom systems that client organizations purchase commercially rather than develop in-house --> the software vendor designs, implements and maintains the system for its client.
What are the common approaches to structure organizations?
1. Geographic location
2. Product line For firms producing multiple diversified products.
3. Business function Based on tasks (marketing, accounting, productions etc.)
What is the accounting function and what roles does it have?
The accounting function manages the financial informational resource of the firm. It has two important roles in transaction processing.
1. Accounting captures and records the financial effects of the firm’s transactions.
2. The accounting function distributes transaction information to operations personnel to coordinate many of their key tasks.
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What is reliable information?
Reliable information is that information which has the following attributes: relevance, accuracy, completeness, summarization and timeliness.
What are the two extremes to structure the IT function?
Centralized data processing and distributed data processing
What is centralized data processing?
All data processing is performed by one or more large computers housed at a central side that serve users throughout the organization. IT activities are consolidated and managed as a shared organization resource (1-9). End users compete for these resources on the basis of need. The IT function is usually treated as a cost center whose operating costs are charged back to the end users.
What is distributed data processing?
it involves reorganizing the IT function into small information processing units (IPUs) that are distributed to end users and placed under their control. IPUs may be distributed according to business function, geographic location, or both (1-11). The central IT function has been eliminated from the organization structure.
What are the advantages and disadvantages of DDP?
Disadvantages of DDP – loss of control, inefficient use of resources, the destruction of audit trails, inadequate segregation of duties, an increased potential for programming errors and systems failures and the lack of standards.
Advantages of DDP – cost savings, increased user satisfaction, and improved operational efficiency.
What is the manual process model?
Is the oldest and most traditional form of accounting systems. Manual systems constitute
the physical events, resources, and personnel that characterize many business processes. It
includes tasks as order-taking, warehousing materials, manufacturing goods for sale,
shipping goods to customers, and placing orders with vendors. It also includes the physical
task of record keeping. These days, manual records are never used in practice.
What is the flat-file model?
What is the database model?
What is a DBMS?
What is a traditional system?
What is the history of database systems?
What are the resources, events and agents in the REA model?
Events: are phenomena that affect changes in resources. They can result from activities such as production, exchange, consumption, and distribution. It are the critical information elements of the accounting system and should be captured in a highly detailed form to provide a rich database.
Agents: are individuals and departments that participate in an economic event. They are parties with discretionary power to use or dispose of economic resources.
What is enterprise resource planning?
Because of the complexity and size of ERPs, few organizations are willing or able to commit the necessary financial and physical resources and incur the risk of developing an ERP system in-house.
One of the problems with standardized modules is that they may not always meet the organization’s exact needs.
What is the role of an accountant?
What are accountants as users?
What are accountants as system designers?
What is the difference between an internal and external auditor?
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