AIS+ch01 - CHAPTER1 AccountingInformation Systems:...

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CHAPTER 1 Accounting Information  Systems: An Overview
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2 LECTURE OUTLINE System, data, and information Accounting information system (AIS) Why study the AIS? The role of the AIS in the value chain How does the AIS provide information for decision making? The AIS and corporate strategy
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3 SYSTEMS, DATA, AND INFORMATION A system is a set of interrelated components that interact to achieve goals. Most systems are composed of smaller subsystems. Every organization has goals. Goal conflict Goal congruence
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4 SYSTEMS, DATA, AND INFORMATION Data Streams of raw facts representing: Events that occur, such as business transactions Resources that are affected by those events Agents who participate in the events Information Clusters of facts that have been organized and processed Meaningful and useful to human beings in the processes such as making decisions Usually, more information and better information translates into better decisions. Information overload quality of decisions , costs
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5 Characteristics of Useful  Information Relevance Reliability Completeness Timeliness Understandability Verifiability Accessibility Value of information = Benefits of info – Cost of producing info DQ 1.2 (p.41) Why would organizations produce info even when the expected costs exceed its benefits?
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6 Problems  (p.42)
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7 A system that collects , records , stores , and processes data to produce information to support decision making and control in an organization . It can: Use advanced technology; or Be a simple paper-and-pencil system; or Be something in between. Technology is simply a tool to create, maintain, or improve a system. External and internal users WHAT IS AN AIS? INPUT OUTPUT PROCESS FEEDBACK
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8 hardware people data procedures software WHAT IS AN AIS? FUNCTIONS OF AN AIS Collect and store data about events, resources, and agents. Transform that data into information that management can use to make decisions about events, resources, and agents.
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AIS+ch01 - CHAPTER1 AccountingInformation Systems:...

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