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ACIS 2116 Chapter 1 Powerpoints Spring 2009

ACIS 2116 Chapter 1 Powerpoints Spring 2009 - ACIS 2116...

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1 ACIS 2116 Chapter One Accounting Information and Managerial Decisions
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2 What is Accounting? System for providing information that is useful in making decisions. That “information” is not just financial information. It is information about many different aspects of an organization.
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3 Data ≠ Information ≠ Knowledge DATA – Raw facts and figures INFORMATION - Data that have been organized, processed, and summarized. KNOWLEDGE – Information that is shared and used to make decisions that add help an organization.
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4 Accounting Information System Purpose – to capture data, transform it and organize it to produce information. Traditional AIS only captures data about financial transactions. However, decision makers need nonfinancial information also.
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5 Financial vs. Nonfinancial Information Examples of Financial Information Examples of Nonfinancial Information Sales revenue Operating expenses Net Income Total Assets Current liabilities Stockholders’ Equity Quantitative: Number of units in inventory Percentage of product defects Number of warranty claims Length of time it takes to produce a product Qualitative: Company reputation Customer satisfaction Employee satisfaction Product or service quality
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6 Enterprise Resource Planning Systems (ERP) Organization-wide system that can capture data related to all aspects of an organization. It
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