Ch. 1 notes - Acct 322
Ch. 1 notes - Acct 322 322
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This 6 page Class Notes was uploaded by ag28 on Monday September 28, 2015. The Class Notes belongs to 322 at Clemson University taught by Nancy Harp in Fall 2015. Since its upload, it has received 37 views. For similar materials see Accounting Information Systems in Accounting at Clemson University.
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Can you just teach this course please? lol :)
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Date Created: 09/28/15
Acct 322 Ch 1 Romney amp Steinbart AIS not just for making financial statements in to mem data intti iftiirmalji magmt can us to mom ec vally am a cicm y their i t THEN EM ll lm will by Hill imfnmmalji systnmi ihlfmnmaijitm I i pmvji a A L r t1 IJII39DGEEEE 39 its 1 Elmg mass E J AIS the intelligence the informationproviding vehicle System a set of 2 or more interrelated components that interact to achieve a goal Characteristies f Useful Informaton R levamt iTillliable rTimelgr quotHEEE ssihle Eumplete He a hle Umderstem laibl at Relevant reduces uncertainty improves decision making con rmscorrects prior expectations makes a difference Reliable free from error or bias accurately represents the organization s eventsactivities Timely as quick as needed provided to decision makers in time to make a decision Accessible available to users when they need it and in a format they can use Complete nothing important is omitted Veri able 2 independent knowledgeable people can produce the same information someone can track it Understandable presented in a useful and intelligible format Vaue of Information quotHEEL ts pmi ubaci by Info Mimus Cnsts tn Pmdupp Info Equials Ham If M Fumlatim Bene ts produced by info reduced uncertainty improved decisions Costs to produce info time resources spent to produce amp distribute information Value of information produced to ensure that the costs do not exceed the bene ts of info Components of AIS l PPM tasting the aysta m Pma ums 1E used to a oat prams 3 star fiatla Data abut till Ttmmims Pmm S W I used in Pmcasa like Infnm tin Twhnnl mmtr ls eastern These ful ll 3 business functions 1 Collect amp store data about organizational activities resources and personnel 2 Transform data into information so that management can plan execute control and evaluate activates resources and personnel 3 Provide adequate controls to safeguard the organization s assets amp data raisinssaute How AIS Add Value itill quai ity f i the f pmumta 11quot swims Ef ciency Ehariimg Knuwla g E i i f 5 a v ns f supply chain i t mal writan ee ium Mailsimg Fm example SEE H i ii c1355 ow Example AIS monitors machinery so operators are noti ed immediately when performance is below quality limits reduces waste lowers costs Example makes justintime approach possible because it noti es immediately when purchase orders come in to manufacture that amount Example CPA rm shares its best practices and communicates with other of ces employees can search the database for experts to help clients with a speci c issue Example Customers directly access inventory and sales order entry system online Example protects system from fraud and system failures Examples allows decision makers to make more accurate decisions How does AIS mprove eoision ma king I t if situatims that Enquiry action wrist alternative chin ices Prvirtla footlhia k on previous sclecisi ms Recline umcmtain r Provide 39 f t and timely info Ex Analyzes sales data to discover information to be used to improve the layout of merchandise and encourage addition sales for those products that sell well