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Acct Info Systems

Ch. 4-9

Database Schema the totality of the information in a database and the relationships between its tables
Data Type tells Access how to store the data (text, number, etc...)
Input Mask limit users to particular types of data in specific formats (SSN's, phone numbers, etc...)
Default Values control over accuracy, field defaults to specified value such as Hours per week = 40
Validation Rules custom validation test, ensures valid input, prompts error text if not within boundaries
enforced Referential Integrity controls inconsistencies between tables/relationships
OLAP Online Analytical Processing. Data-extraction tools to obtain information that describes what and how
Data Mining using a set of data analyses and statistical tools to detect relationships, patterns, or trends among stored data
Data Warehouse Large, common body of information, pooled from separate applications
Queries create customized subschemas, based on specified criteria, answers questions about data in tables
Sorting reorganize/reorder data
Reports provides custom information to database users
Access is good for? relational, database management, small/less complex
Documentation describes the logical flow of data within a computer system and procedures to follow to accomplish tasks
Data Flow Diagram Used in development and analysis, describes the sources of data stored in a database and the ultimate destinations of these data
Context DFD proved an overview of the system. Inputs, outputs, sources, and destinations.
Physical DFD internal and external entities. Same inputs and outputs as context DFD. Job titles and circles with processes.
Logical DFD What participants do. Help designers decide what resources to acquire, what activities and how to protect and control. Level 0 or 1 based on amount of detail and 'exploded' processes.
Document Flow Charts Traces physical flow of documents through an organization, greater detial.
Systems Flowcharts computerized data flow, cylces
Financial Accounting Cycle 1. Record Transaction in journal 2. Post journal entries to ledger 3. Unadjusted trial balance 4. Record and post adjusting entries 5. Adjusted trial balance 6. Prepare financial statements 7. Closing journal entries 8. Post closing trial balnace
Manual Accounting System as an AIS AIS does not have to be electronic. Journals, ledgers, and financial statements.
Economic Event events that affect an organizations financial statements (sale on account)
Business Event An event that occurs in a business that does not directly affect the financial statements. (Hiring a new manager, creating a new product)
CRM Software (Customer Relationship Management) Gather, maintain, and use data about a company's customers with the objective of improving customer satisfaction and company profitability. Manage potential customers. Broad Uses.
Outsourcing/Business Process Outsourcing Offshoring. Scrutiny by managers to be more vigilant about managing costs. Cost v Benefits of in-house/outsourcing
BPM Software (Business Process Management) collect corporate knowledge, data, and business rules in a business system to improve core business processes. Software tools & mgmt practices. Timely access to performance data related to clients, projects, financials & people improve company performance
JIT Production (Just in Time) Minimizes inventories, demand-pull system (Customer order gives rise to raw material order). Reduces costs of storage, spoilage/waste, utilities, insurance, taxes on property, theft/breakage, opportunity cost
Business Processes Sales, Purchasing, HR Mgmt, Fixed Asset Mgmt, Production, Financing
Lean Manufacturing/Accounting Eliminate waste and non-value-added activities. Collection of data and chart of accounts.
Non-Value-Added Activities Human potential, defects, motion, inventory, processing, transportation, waiting, overproduction
Internal Controls Policies, plans, and procedures implemented by the mgmt of an organization
Objectives of Internal Controls Accounting Controls 1. Ensure reliability of financial reporting 2. Safeguard assets Management Controls 1. Ensure compliance with laws and regulations 2. Help achieve organizational goals
FCPA Foreign Corrupt Policies Act. Requires internal control systems for publicly owned companies registers under the SEA
SOX Sarbanes Oxley Act. Issue internal control reports, states mgmt is responsible for establishing and maintaining adequate IC structure. Annually assess effectiveness of ICs. External auditor must attest to/report on mgmts assessment
COSO Committee of Sponsoring Organizations.Defines and describes components of IC Integrated Framework. Criteria for evaluation, provides guidance and materials. Monitoring.
COBIT Control Objectives for Business and IT. Provides managers, auditors, and IT users a set of generally accepted measures, indicators, processes, best practices to maximize benefits of IT and development appropriate IT governance and control.
ERM (Enterprise Risk Management) A COSO report. 1)Objective setting-align with org strategy, and risk level 2)Event ID-external risks, consider internal and external factors that may affect achievement of objectives 3)Risk Response-counter measures to avoid, mitigate or transfer the risk
Control Activities Audit trail, policies & procedures, separation of duties, physical controls, controls over cash, types of controls
Audit Trail Follow path of data from the initial source to final disposition of the data on a report(and backwards). Chart of Accounts, source documents and descriptions, authority and responsibility of each person.
Policies and Procedures Should help achieve goals of organization. Review code of conduct. Lead by example. Bonded coverage.
Separation of Duties One Employees work serves as a check n another employee. No one employee should have access to both assets and records.
Physical Controls Fireproof Safes, off-site storage vaults, lock and key
Controls over Cash Receipts, payments and on-hand. Try to use checks as often as possible. Petty cash custodian.
Types of Controls Preventive, detective, and corrective.
5 Components of IC system 1. Control environment 2. Risk Assessment 3. Control Activities 4. Info and Communication 5. Monitoring
Tone at the Top Mgmt is responsible for developing IC system, lead by example
Sales Process Objectives Track revenues, monitor resulting cash inflows, matches each revenue w/ a valid transaction, maintain customer records, forecasting
Sales Process Inputs Sales order, sales invoice, remittance advice, shipping notice, debit/credit memoranda
Sales Process Outputs Financial statement info, customer billing statement, aging report, bad debt report, cash receipts forecast, customer listing, sales analysis reports
Financing Process Objectives effective cash mgmt, cost of capital optimization, earn maximum return on investments, project cash flows
Financing Process Inputs remittance advices, deposit slips, checks, bank statements, stock market data, interest data, financial institution profiles
Financing Process Outputs Financial statement info, cash budget, investment reports, debt and interest reports, financial ratios, financial planning model reports
Production Process Objective track purchases and sales of inventories, monitor and control manufacturing costs, control inventory, control and coordinate the production process, provide input for budgets
Production Process Inputs materials requisition form, bill of materials, master production schedule, production order, job time cards
Production Process Outputs financial statement info, material price list, periodic usage reports, inventory status reports, production cost reports, manufacturing status reports
HR MGMT Process Objectives Hiring training and employing workers. Maintaining employee earnings records. complying w/ regulatory reprting require. Reprting on payroll deductions. making timely and accurate pymts to employees. Providing interface for personel and payrol activities.
HR MGMT Process Inputs Personnel action forms, timesheets, payroll deduction authorization, tax withholding forms
HR MGMT Process Outputs financial statement info, employee listings, paychecks, check registers, deductin reports, tax reports, payroll summaries
Fixed Asset MGMT Objectives tracking purchases of fixed assets, recording fixed asset maintenance, valuing fixed assets, allocation fixed asset costs(recording deprec.), tracking disposal of fixed assets.
Fixed Asset MGMT Inputs Purchase requisition, receiving reports, supplier invoices, construction work orders, repair and maintenance records, fixed asset change forms
Fixed Asset MGMT Outputs financial statement info, fixed asset register, depreciation register, repair and maintenance reports, retired asset report.
Purchasing Process Objectives Tracking purchases from vendors, tracking amounts owed, maintaining vendor records, controlling inventory, making timely and accurate vendor payments, forecasting purchases and cash outflows.
Purchasing Process Inputs purchase requisition, purchase order, vendor listing, receiving report, bill of lading, packing slip, debit/credit memoranda
Purchasing Process Outputs Financial statement info, vendor checks, check register, discrepancy reports, case requirements forecast, sales analysis reports
Created by: pacqjac
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