Chapter 3(2)

Chapter 3(2) - 1 1 Information Systems in Business...

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Unformatted text preview: 1 1 Information Systems in Business Functions Chapter 3 2 Learning Objectives See Chapter 3 Textbook Learning Objectives Handout Vocabulary, terminology Business functions and relationships Information Systems Review Questions P. 105: 2, 4, 6, 7, 9, and 14 2 3 Effectiveness and Efficiency ISs can help companies attain more effective and efficient business processes Effectiveness (% Completion) The degree to which a task is accomplished Efficiency (Output/Input ratio %) Determined by the relationship between resources expended and benefits gained in achieving a goal 4 IS Supports Business Functions 3 5 IS Interdependence 6 Accounting AISs automatically post transactions in the books and automate generation of reports for management and legal requirements Three types of AISs Transaction processing systems (TPS) Cost accounting systems Managerial accounting systems Electronic Data Processing (EDP) Audits Ensure electronic systems comply with standard regulations and acceptable rules Ensure systems cannot be manipulated to circumvent acceptable principles 4 7 Up-to-date Performance with AISs 8 Finance The job of financial managers is to manage money as efficiently as possible by: Collecting receivables as soon as possible Making payments by the latest time allowed by contract or law Ensuring sufficient funds are available for day-to- day operations Taking advantage of opportunities to accrue the highest yield on funds not used for current activities 5 9 Financial Information Systems 10 Cash Management Financial ISs help balance the need to accrue interest against the need to have cash available Cash management systems (CMS): Handle cash transactions specifically Electronic fund transfer (EFT): Electronic transfer of cash from one bank account to another 6 11 Investment Analysis and Service Analyze and project prices of a specific stock or bond Transmit buy and sell orders electronically Provide clients with a detailed statement Monitor account information and news online 12 Engineering ISs reduce engineering lead time or time-to-market Key to maintaining a competitive edge Computer-Aided Design (CAD) Systems Help engineers and technicians design new products and quickly modify and store drawings electronically Rapid Prototyping: Creating one-of-a-kind products to test design in three dimensions 7...
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Chapter 3(2) - 1 1 Information Systems in Business...

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