AIS 1
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Enterprise Systems | Integrates business process and information from all of an organization's functional areas
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Enterprise Resource Planning (ERP) Systens | Software packages used for the core systems necessary to support enterprise systems
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E-Business | Application of electronic networks to undertake business processes b/n individuals and organizations
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Internal Control | Process designed by BOD, management, and other personnel to provide reasonable assurance regarding achieving objectives in: efficiency and effectiveness of operations, reliability of reporting, and compliance w/ applicable laws & regs
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SarBox (Section 404) | Management must identify, document, and evaluate significant internal controls;
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SarBox (Section 409) | Requires disclosure to public on "rapid and current basis" of material changes in organization's financial condition
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System | Set of interdependent elements that together accomplish specific objectives
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Subsystem | Each part of a system; can be further divided into its component parts or subsystems
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Central theme of AIS | You must know a business organization's objectives to understand that business as a system and to understand the actions and interactions of that business's components or subsystems
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Information Systems (IS) | System that generally consists of integrated set of computer-based and manual components established to collect, store, and manage data and to provide output information to users
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Information Process (IS) | Portion of IS related to particular business process
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Operations Process | System consisting of people, equipment, organization, policies, and procedures whose objective is to accomplish the work of the organization
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Management Process | System consisting of people, authority, organization, policies, and procedures whose objective is to plan and control the operations of the organization
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3 most important management activities | Planning, controlling, decision making
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Information | Data presented in a form that's useful in decision-making activity
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Data | Facts of figures in raw form
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Function of IS | Capture and transform data into information
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Effectiveness | Information relevant and pertinent to business process as well as being delivered in timely, correct, consistent, and usable manner
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Understandability | Enables users to perceive the information's significance
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Relevance | When information’s capable of making a difference in a decision-making situation by reducing uncertainty or increasing knowledge for that particular situation
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Efficiency | Concerns provision of information through optimal (most productive and economical) use of resources. Measure of productivity of resources applied to achieve set of goals
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Integrity | Accuracy and completeness of information; validity in accordance with business values and expectations
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Reliability | Provision of appropriate information for management to operate the entity and exercise its fiduciary and governance responsibilities
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Predictive Value and Feedback Value | Information quality that improves a decision maker's capacity to predict, confirm, or correct earlier expectations
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Verifiability | High degree of consensus about the information among independent measurers using the same measurement methods
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Comparability | Information quality that enables users to identify similarities and differences in 2 pieces of information
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Validity | Information quality concerning the inclusion of actual events and actual objects
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Enterprise Database | Central repository for all the data related to the enterprise’s business activities and resources
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Purpose of AIS | Collect, process, and report info related to financial aspects of business events
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Created by:
niana23
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