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System

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a set of two or more interrelated components that interact to achieve a goal

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7 characteristics of useful info

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relevant reliable complete timely understandable verifiable accessible

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Data

answer

facts that are collected, recorded, stored, and processed by and information system; input

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Information

answer

data that have been organized and processed to provide meaning; output

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Information technology

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the computers and other electronic devices used to store, retrieve, transmit, and manipulate data

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Value of information

answer

the benefit provided by the information minus the cost of producing it

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Business process

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a set of activities that are performed by a person, a computer, or a machine and that help accomplish a specific organizational goal

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Transaction processing

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capturing transaction data, processing it, storing it, and producing information output (such as a financial statement)

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Production (conversion) cycle

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using raw materials, labor, and equipment to produce finished goods

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Financing cycle

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selling shares to investors, borrowing money, paying dividends, and paying interest on loans

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Accounting Information System

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system that collects, stores, and processes data to produce info for decision-makers

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factors influencing design of AIS

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organizational culture business strategy IT

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6 components of an AIS

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people procedures and instructions data software IT infrastructure internal controls and security measures

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(5) supply chain

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RM supplier manufacturer distributor retailer consumer

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3 business functions of AIS

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1. collect and store data 2. transform data into information 3. provide controls to safeguard data

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Predictive analysis

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using data warehouses and complex algorithms to forecast future events, based on historical trends and calculated probabilities

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5 primary activities of Value chain

answer

inbound logistics operations outbound logistics marketing & sales service

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4 Support activities

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firm infrastructure HR technology purchasing

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Supply chain

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includes value chain, suppliers, distributors, and customers

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Data processing cycle

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the operations performed on data to generate meaningful and relevant information

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4 components of data processing cycle

answer

data input data storage data processing info output

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Source documents

answer

documents used to collect transaction data at its source--when the transaction takes place

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Source data automation (ex)

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devices capture transaction data in machine-readable form at the time and place of their origin. Ex: point-of-sale terminals such as scanners at retail stores

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General ledger

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contains summary-level data for every asset, liability, equity, revenue, and expense account

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Subsidiary ledger

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contains detailed data for any general ledger account with many individual subaccounts

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Control account

answer

general ledger account that summarizes the total amounts recorded in the subsidiary ledger

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Coding

answer

systematic assignment of numbers or letters to items to classify and organize them

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Sequence code

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items numbered consecutively so that a gap in the sequence indicates a missing item and should be investigated

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Block code

answer

blocks of numbers are reserved for specific categories of data

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Group code

answer

two or more subgroups of digits used to code items

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Mnemonic code

answer

Letters, derived from the item description, are used to identify items; usually easy to memorize

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Chart of accounts

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a list of the numbers assigned to each general ledger account

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General journal

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records infrequent or non-routine transactions, such as loan payments and end-of-period adjusting and closing entries

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Specialized journal

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records large numbers of repetitive transactions such as sales, cash receipts, and cash disbursements

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Audit trail

answer

a path that allows a transaction to be traced through a data processing system from point of origin to final output (or vise versa)

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Entity

answer

something about which information is stored in a record ex: employees, inventory items, and customers

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Attributes

answer

an entity's properties, identifying numbers, or characteristics of interest that are stored in a database ex: pay rate and address

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Field

answer

where the data value for a particular attribute is stored

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Record

answer

set of fields containing data about an entity ex: payroll records of one employee

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File

answer

group of related records ex: payroll records of all employees

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Master file

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a permanent file that stores cumulative information about an organization

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Transaction file

answer

contains records of individual business transactions that occur during a fiscal period

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4 data processing activities

answer

creating reading updating deleting

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Database

answer

a set of interrelated, centrally coordinated files

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Batch processing

answer

involves holding a group of transactions for processing until the end of a specified period of time; occurs in regular intervals

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online batch processing

answer

combination of batch & online, real-time; input is entered as it occurs but held for processing in a batch

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Online, real-time processing

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updates each transaction immediately as it occurs

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Document

answer

record of a transaction or other company data

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Report

answer

system output used by employees to control operation activities, by managers to make decisions and design strategies, and by investors/creditors to understand a company's business activities

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Query

answer

a request for the database to provide the info needed to answer questions

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Enterprise Resource Planning (ERP) system

answer

integrates all aspects of a company's operations into one system

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Documentation

answer

narratives, flowcharts, and diagrams that explain how a system works

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Narrative description

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a written step-by-step explanation of system components and interactions

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Data flow diagram (DFD)

answer

describes the flow of data some detail "What is the system doing?"

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Data source

answer

entity that produces or sends the data

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Data destination

answer

entity that receives data

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Data flow

answer

the movement of data among processes, stores, sources, and destinations

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Process

answer

the action that transforms data into other data or info

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Context diagram

answer

the highest level of DFD with little detail; summary-level view of a system, doesn't have =

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Flowchart

answer

used to describe some aspect of an IS in a clear, concise, and logical manner very detailed "What is the system doing?" "How is it doing it?"

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Document flowchart

answer

illustrates flow of documents and data among areas of responsibility within an organization

question

Internal control flowchart

answer

used to analyze internal controls, including identifying system weaknesses or inefficiencies

question

System flowchart

answer

depicts the relationships among system input, processing, storage, and output

question

Program flowchart

answer

illustrates the sequence of logical operations performed by a computer in executing a program

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Business Process Diagram (BPD)

answer

describes the different steps or activities in a business process very detailed "What are the activities in the process?".

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block diagram

answer

least detail "What comprises the system?"

question

System Development Life Cycle (SDLC)

answer

the process used to design and implement a new system

question

Systems analysis

answer

step 1 in SDLC gathering of info needed to purchase, develop, or modify a system

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Conceptual design

answer

step 2 in SDLC the company decides how to meet user needs

question

Physical design

answer

step 3 in SDLC the company translates the broad, user-oriented conceptual design requirements into detailed physical components of the system

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Implementation and conversion

answer

step 4 in SDLC all activites associated with transfering data from existing systems into new database, testing it, and training employees

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Operations and maintenance

answer

5th step of SDLC the new system is periodically reviewed and necessary modifications and improvements are made

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Information systems steering committee

answer

high-level management who plan and oversee the information systems function

question

Project development plan

answer

contains requirements, a cost-benefit analysis, and how a project will be completed

question

Master plan

answer

long-range plan, written by steering committee, outlining prioritized projects and timetables

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Critical path

answer

the path requiring the greatest amount of time

question

Gantt chart

answer

a bar chart with project activities on the left-hand side and units of time across the top

question

Feasibility study

answer

an investigation to determine whether it is practical to develop a new system

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Economic feasibility

answer

will system benefits justify time, money, resources required to implement it?

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Technical feasibility

answer

can the system be developed and implemented using existing technology?

question

Legal feasibility

answer

does the system comply with all the applicable laws, regulations, and contractual obligations?

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Scheduling feasibility

answer

can the system be developed and implemented in the time allotted?

question

Operational feasibility

answer

do we have access to people who can design, implement, and operate the proposed system?

question

Capital budgeting model

answer

estimated benefits and costs are compared to determine whether the system is cost beneficial

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Payback period

answer

the number of years until savings = initial cost of the investment

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Net Present Value (NPV)

answer

all estimated future cash flows are discounted back to the present, using a discount rate that reflects the time value of money

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Internal Rate of Return (IRR)

answer

the effective interest rate that results in an NPV of zero.; compared with a minimum acceptable rate to determine acceptance or rejection

question

Aggression

answer

trying to destroy, cripple, or weaken system effectiveness

question

Projection

answer

blaming the new system for everything that goes wrong

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Initial Investigation

answer

conducted to screen requests for systems development. The exact nature of the problem must be determined

question

5 system analysis steps

answer

initial investigation systems survey feasibility study info needs & system requirements report

question

pros and cons of data-gathering methods

answer

1. interview: detailed answer; personal bias 2. questionnaire: anonymous, not detailed answers 3. observation: see how system actually works; observed people may alter behavior 4. system documentation: describes how system should work; time-consuming

question

Conceptual design specifications

answer

requirement specifications for output, data storage, input, processing procedures and operations

question

Conceptual system design report

answer

summarizes conceptual design activities, guides physical design activities, communicates how all information needs will be met, and helps the steering committee assess feasibility

question

3 conceptual design steps

answer

1 .evaluate design alternatives 2. develop specs 3. report

question

6 physical design steps

answer

design: 1. output 2. file & database 3. input 4. program 5. procedures 6. controls

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4 categories of output

answer

scheduled reports special-purpose reports triggered exception reports demand reports

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Scheduled report

answer

has a pre-specified content and format and is prepared on a regular basis

question

Special-purpose analysis report

answer

have no pre-specified content, format, or schedule; they are prepared in response to a management request

question

Triggered exception report

answer

have a pre-specified content and format, and are prepared in response to abnormal conditions

question

Demand report

answer

have a pre-specified content and format but are only prepared on request

question

Structured programming

answer

where each module performs a specific function and is coordinated by a control module

question

Debugging

answer

the process of discovering and eliminating program errors

question

Program maintenance

answer

factors that require existing programs to be revised and updated

question

Physical systems design report

answer

summarizes what was accomplished in physical design and serves as the basis for management's decision of whether or not to proceed to the implementation phase

question

Systems implementation

answer

the process of installing hardware and software and getting the system up and running

question

6 implementation & conversion steps

answer

1. implementation planning 2. install hardware/software 3. train personnel 4. test system 5. complete documentation 6. convert to new system

question

3 forms of testing an IS

answer

walk-through processing test data acceptance tests

question

Walk-through

answer

step by step reviews of program procedures to find problems

question

Processing test data

answer

including all transactions and possible error conditions; performed to determine whether a program operates as designed

question

Acceptance test

answer

uses copies of real transactions and files rather than hypothetical ones; users develop the acceptance criteria to make the final decision whether to accept the AIS

question

Parallel conversion

answer

operates the old and new systems simultaneously for a period

question

Phase-in conversion

answer

gradually replaces elements of the old system with the new one

question

Pilot conversion

answer

implementing a system in one part of the organization, using it until problems are resolved, then implementing it in the rest of the organization

question

Post-implementation review

answer

conducted to determine whether the system meets its planned objectives

question

Post-implementation review report

answer

determines if the system achieved its intended purpose and was completed within budget

question

Canned software

answer

sold to a broad range of users with similar needs

question

Turnkey systems

answer

software and hardware sold as a package; the seller installs the system and the user "turns the key"

question

Application Service Provider (ASP)

answer

delivers software over the internet

question

Request For Proposal (RFP)

answer

companies asking vendors to propose a system that meets their needs

question

Benchmark problem

answer

comparing systems by executing an input, processing, and output task on each system

question

Point scoring

answer

assigns a weight to each evaluation criterion based on its importance

question

Requirement costing

answer

comparing systems based on the cost of all required features

question

Custom software

answer

developed in-house to meet unique needs of a company

question

End-user computing (EUC)

answer

hands-on development, use, and control of CIS by users

question

Help desk

answer

answer employee questions to support and control end-user activities

question

Outsourcing

answer

hiring an outside company to handle all or part of an organization's data processing activities

question

Business Process Re-engineering (BPR)

answer

drastic, one-time event approach to improving and automating business processes

question

Business Process Management (BPM)

answer

a systematic approach to continuously improving the business process

question

Prototyping

answer

designing a simplified working model of a system

question

Operational prototype

answer

prototype further developed into a fully functional system

question

Nonoperational (throwaway) prototype

answer

prototype that is discarded, but the system requirements identified from it can be used to develop a new system

question

Computer-aided software engineering (CASE)

answer

set of tools used to plan, analyze, design, program, and maintain an IS

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