AEM Prelim Notes - Chapter 17: Knowledge Technology - Data...

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Sheet1 Page 1 Chapter 17: Knowledge Technology - Data comes to the individual. Adds a layer of intelligence to filter appropriate information and delive r i s to answering questions and offering advice. 4 characteristics of information 1) quality 2) completeness 3) timeliness 4) relevance data mining looks for hidden patterns in the data Intranet - companywide network, closed to public access with internet Extranet - semiprivate network that uses internet technology and allows more than one company to access the same informat i o VPN - private data network over regular internet Problems that arise from Information technology: Flatten organization structures, eliminate middle management 1) Human resource issues -makes managment more efficient -Need to recruit employees who know how to use the new technology or train people -Telecommuting *reduces company office costs *retains productive employees *dislocated, out of the office loop. *Americans often take increased productivity with more consumption, not leisure 2) Security Issues -viruses -copyright laws 3) Privacy Issues -cookies -info on web 4) Stability Issues -instable, complex programs Benefits of Networks 1) saving time and money 2) providing easy links across functional boundaries 3) allowing employeees to see complete information Chapter 18: Accounting system - 1) inputs (accounting documents) 2) processing 3) outputs (financial statements) Managerial Accounting - accounting used to provide information and analyses to managers within the organization to assist th e 1) cost accounting - measuring and reporting costs of production, marketing, and other functions 2) planning - preparing budgets 3) controlling - checking whether or not units are staying within their budgets 4) tax accounting - designing strategies to minimize taxes
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Sheet1 Page 2 Financial Accounting - accounting information and analyses prepared for people outside the organization External users are interested in organization's profits, ability to pay bills, an dother important financial information Annual report - yearly statement of the financial condition, progress, and expectations of an organization Private Accountant - work for a single firm, govt agency, etc Public Accountant - provides his or her accounting services to individuals or businesses on a fee basis. Auditing - job of reviewing and evaluating the records used to prepare a company's financial statements Tax Accounting - accountants are trained in tax law and responsible for preparing tax returns or developing tax strategies. Government and Not-for-Profit Accounting - workign for organizations that do not make a profit, but serve others according to a 1) intended for citizens, special intereswt groups, legislative bodies, and creditors. Bookkeeping - recording of business transactions
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AEM Prelim Notes - Chapter 17: Knowledge Technology - Data...

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