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Produces traditional fs grs most transactions come

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produces traditional FSGRS -most transactions come from the transactioncycleFRS- measures and reports status of fin resources andthe changes in those resources- communicates this info to external users (NON-DISCRETIONARY REPORTING)- orgn has few or no choice in the info it provides-much of this information consists of:traditional FStax returnsother legal documents3.Management reporting system (MRS)-provides internal mgt with special-purpose fin reportsand info needed for decision making-provides internal info needed to manage a business-DICRETIONARY REPORTING-orgn can choose what info to report and how topresent it-typical reports include:budgetsvariance reportscost-volume-profit analysesreports using current cost dataManagement Information System- often requires info that goes beyond the capability of AIS- processes non-fin transactions that are not processed bytraditional AISWhy is it important to Distinguish between AIS and MIS?Because of the highly integrative nature of modern IS,mgt and auditors need a conceptual view of the info thatdistinguishes key processes and areas of risk and legalresponsibility from the other aspectsof the system.GENERAL MODEL FOR INFO SYSTEM1.End usersa.External usersb.Internal usersmanagement at every level of theorgn and the operations personnel2.Data sources-fin transactions that enter the info system from bothinternal and external sourcesa.External fin transactionsmost common sourceof data- economic changesb.Internal fin transactions exchange or movementof resources within the orgnData vs Information:Datafacts which may or may not be processed andhave no direct effect on the userInfocauses the user to take an action that they couldnot and would not have taken- allows users to take action to resolve conflictsreduce uncertainty and make decisions3.Data collection -first opn’l system-most important system in thesystem
Objective:to ensure that the event data entering thesystem are valid, complete, and free from materialerrorsTwo rules governing the design of data collectionprocedures:a.Relevance - info system should only capturerelevant data- system designer todetermine what is and what is not relevantb.Efficientdesigned to collect data only once- to make the data available tomultiple users4.Data processing5.Database managementDatabasephysical repository for fin and non-fin dataData hierarchy: (ARF)a.Attributemost elemental piece of potentiallyuseful data in the database- logical and relevant characteristic of anentity about which thefirm captures dataa.Recordcomplete set of attributes for a singleoccurrence within an entity class- every record in the databasemust be unique in at least one attributeb.Filescomplete set of records of an identicalclassDatabase management taskThree fundamental tasks:a.Storageassigns keys to new records- storethem in proper location in the databaseb.Retrievaltask of locating and extracting an

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Term
Winter
Professor
N/A
Tags
Data Management, Accounting software

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