BMGT 326 Exam 1 Review

BMGT 326 Exam 1 Review - BMGT 326 Exam 1 Review Chapter 1...

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BMGT 326 Exam 1 Review Chapter 1 –Introduction to Accounting Information Systems Textbook Themes 1. Enterprise Resource Planning Systems — integrates business process functionality and information from all of an organization’s functional areas (marketing and sales, cash receipts, purchasing, cash disbursements, human resources, production and logistics, and business and financial reporting). 2. E-business — use of networks to undertake business processes. 3. Internal Control — a system of integrated elements that provide reasonable assurance that a business will reach its business process goals. Elements in the study of AIS Sarbanes-Oxley Act of 2002 Section 404 – Management must identify, document, and evaluate significant internal controls.
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Auditors must report on management’s assertions regarding internal controls. Section 409 – Requires disclosure to the public on a “rapid and current” basis of material changes in an organization’s financial condition. Implications for both public and private accountants Accounting Systems and Subsystems A system is a set of interdependent elements that together accomplish specific objectives. A subsystem is the interrelated parts that have come together, or integrated , as a single system, which we have named System 1.0. Information System Model An information system (IS) or management information system (MIS) is a manmade system that consists of an integrated set of computer-based and manual components established to collect, store, and manage data and to provide output information to users. The figure on the next slide depicts the functional components of an information system.
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Purpose of AIS Collect, process and report information related to the financial aspects of business events. Often integrated and indistinguishable from the overall information system. Like the IS, the AIS may be divided into components based on the operational functions supported. Comparison of Manual and Automated Systems A Logical Model of A Business Process
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1. Management hires personnel and establishes the means for accomplishing the work of the organization. 2. Management establishes broad marketing objectives and assigns specific sales quotas by which progress toward the long-run objective can be measured. In addition, management designs the IS procedures for facilitating operations, such as the procedures used to pick and ship goods to the customer. 3. Normal operations begin with the IS receiving a customer’s order to purchase goods. 4. The IS acknowledges the customer’s purchase order. 5. The IS sends a request to the warehouse to ship goods to the customer. This request identifies the goods and their location in the warehouse 6. A document (i.e., a packing slip) identifying the customer and the goods is attached to the goods. 7.
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BMGT 326 Exam 1 Review - BMGT 326 Exam 1 Review Chapter 1...

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