311 Assignment 1

311 Assignment 1 - Homework 1 6) Accounting Information...

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Homework 1 6) Accounting Information Systems process financial transactions and nonfinancial transactions that directly affect the processing of financial transactions. Management Information systems process nonfinancial transactions that are not normally processed by traditional AIS such as finance, finance, marketing, distribution, and personnel. 7) Revenue, expenditure, conversion 8) Discretionary reporting is internal financial and other management information. The company can choose what information to present and how to present it. 9) Relevance- contents serve a purpose, timeliness- information is not older than the time period it supports, accuracy- free from material errors, completeness- no essential pieces of information missing, summarization- information should be aggregated in accordance with the users’ needs, feedback- a form of output that is sent back to the system as a source of data and is used to initiate or alter a process 10) Relevance- only capture data that ultimately contributes to information. Efficiency- collect data
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311 Assignment 1 - Homework 1 6) Accounting Information...

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