Exam 1: Conceptual Foundations of Accounting Information Systems

Clemente Santiago has formed a business that sells carved gourmet coconuts.He has hired five employees.The most senior is Mary,who manages the carving process.Jane is the newest employee.She collects the coconuts.Joe takes calls from unhappy customers.Tom tosses finished coconuts into the sea,sending them to the wholesaler.Annie sends letters to the wholesaler extolling the virtues of the latest production run of nuts that are drifting across the bay. Which of the following functions in the value chain is Annie performing?

One group that relies on both the adequate collection and transformation of data for decision-making purposes for an organization is

The value of information can best be determined by

Which of the following is not one of the three basic types of data about a specific sales transaction that should be captured by an Accounting Information System?

A value chain typically consists of five primary activities that can directly provide value to customers.The activities that help to provide post-sale support to customers represent

A good example of how an AIS is used to share knowledge within an organization is

Identify the primary reason that it is important for a firm to identify the AIS improvements likely to yield the greatest return.

Data must be converted into information to be considered useful and meaningful for decision making.There are seven characteristics that make information both useful and meaningful.If information can help reduce uncertainty,improves decision making,or confirms or corrects prior expectations,it is representative of the characteristic of

How are "Give and Take" transactions classified in business today and what impact does this have on AIS?

In 2015,Singh Manufacturing implemented a Web-based information system that allows all employees to access mission-critical information.The intention was to increase production efficiency.Unfortunately,it had the opposite effect,as deliveries fell behind schedule and costs increased.Shaman Gupta,the director of information technology services,asked Ashlee Wells to come in and talk with him about the system.Ashlee is a long-time employee of Singh,and her opinion is valued by her peers and by her supervisor. "So Ashlee,how's it going down there in the shop?" "Not so good,Shaman.Used to be we got a weekly pick list so we knew how to plan production.Now,we got that computer system.Most of us can't figure out how to use it to do our jobs.Is there some way to print out a pick list?" Shaman thought for a while before responding."Well,Ashlee,to tell you the truth,I'm not so sure how to do it myself,but there must be a way.We'll bring in the consultants that helped us build the system.Maybe they can help." Which of the following characteristics of useful information is absent in the situation described above?

The process of creating value for customers is the result of nine activities that form a

What is the CITP designation and why is it important to AIS?

A frantic Barney Rubble lost a large sale because he could not access the system to verify the inventory was in stock and ready to be shipped.Which of the following characteristics of useful information is absent in the situation described above?

What is the purpose behind the five primary activities in the value chain?

Identify the piece of information below that is typically needed to acquire inventory.

Sam Jones has been the controller of Downtown Tires for 25 years.Ownership of the firm recently changed hands and the new owners are conducting an audit of the financial records.The audit has been unable to reproduce financial reports that were prepared by Sam.While there is no evidence of wrongdoing,the auditors are concerned that the discrepancies might contribute to poor decisions.Which of the following characteristics of useful information is absent in the situation described above?

Who of the following is not a stakeholder with whom an accounting information system typically communicates directly?

Transaction cycles can be summarized on a high level as "give-get" transactions.An example of "give-get" in the revenue cycle would be

Discuss the components of a supply chain.

Wisconsin Dells,Wisconsin,is a popular tourist destination.During the winter months,the population dwindles to a meager few,but when summer comes,the size of the town surges.Hunter Jackson is the town sanitation engineer.When the size of the town surges,so do his responsibilities.Among them is management of the sewage processing volume. In an interview with the local paper,Hunter complained that a report on tourist population that he uses to adjust processing volume refers to data that was not always accurate and it is really giving him a hard time to make adjustments. Which of the following characteristics of useful information is absent in the situation described above?