exam1 - AIS Exam 1 Study Guide Chapter 1 Data are facts...

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AIS Exam 1 Study Guide Chapter 1 Data are facts that are collected, recorded, stored, and processed by an information system Examples of data: o Facts about the activities that take place o The resources affected by the activities o The people who participate in the activity Information is data that have been organized and processed to provide meaning to a user Characteristics of useful information: o Relevant : reduces uncertainty, improves decision makers’ ability to make predictions, or confirms or corrects their prior expectations o Reliable : free from error or bias and accurately represents the events or activities of the organization o Complete : does not omit important aspects of the underlying events or activities that it measures o Timely : provided in time for decision makers to make decisions o Understandable: presented in a useful and intelligible format o Verifiable : if two knowledgeable people acting independently would each produce the same information o Accessible : available to users when they need it and in a format they can use Value chain: o 5 primary activities Inbound logistics : receiving, storing, and distributing the materials an organization uses to create the services and products it sells Operations : transforms inputs into final products or services
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Outbound logistics : distributes finished products or services to customers Marketing and sales : helps customers buy the organization’s products or services Service : provides post-sale support to customers o Support activities Firm infrastructure : accounting, finance, legal, and general admin Human resources Technology Purchasing Chapter 5 The Fraud Triangle o Pressure: a person’s incentive for committing fraud. Employee pressure Financial o Living beyond means Emotional o Job dissatisfaction Lifestyle o Gambling habit Organizational pressure Financial Industry conditions Management characteristics o Opportunities Commit the fraud Conceal the fraud Convert the theft or misrepresentation to personal gain o Rationalizations Justifications Attitude
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Lack of personal integrity Chapter 6 Preventative controls o Deter problems before they arise o Hiring highly qualified personnel o Appropriately segregating employee duties o Effectively controlling physical access to assets, facilities, and information Detective controls o Needed to discover problems as soon as they arise o Duplicate checking of calculations and preparing bank reconciliations and monthly trial balances Corrective controls o Remedy control problems that have been discovered o Procedures taken to identify the cause of a problem o Correct resulting errors or difficulties o Modify the system so that future problems are minimized or eliminated o Maintaining backup copies of transaction files and master files and adhering to procedure for correcting data entry errors Control frameworks
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exam1 - AIS Exam 1 Study Guide Chapter 1 Data are facts...

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