Exam 1: Conceptual Foundations of Accounting Information Systems

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 the information is free from error or bias,it is representative of the characteristic of

Why have accounting software packages been designed with separate transaction modules?

Identify the false statement below.

How can a well-designed AIS improve the efficiency and effectiveness of a company's value chain?

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?

Which of the following statements below shows the contrast between data and information?

Paid time-off policies,job descriptions,and procedures manuals are examples of information needed to support key decisions in what business process?

Identify the components of an accounting information system.

When a subsystem achieves its goals while contributing to the organization's overall goal,it is called

In which transaction cycle would information for paying dividends be most likely to pass between internal and external accounting information systems?

An accounting information system must be able to perform which of the following tasks?

One activity within the value chain is research and development.This activity can be identified as a

The AIS must include controls to ensure

Baggins Incorporated identifies new product development and product improvement as the top corporate goals.An employee developed an innovation that will correct a shortcoming in one of the company's products.Although Baggins current Return on Investment (ROI)is 10%,the product innovation is expected to generate ROI of 15%.As a result,awarding bonuses to employees based on ROI resulted in

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

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 the time we can't get all of the information that we need.Is there some way to print out a list that has everything that we need?" 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?

Information that is free from error or bias and accurately represents the events or activities of the organization is

The ________ is not a transaction cycle.

Discuss the concept of a system and the issues of goal conflict and goal congruence.

In which transaction cycle would information relating to employees benefit be most likely to pass between internal and external accounting information systems?