Chapter 1 Flashcards
What does information systems do
Capture raw and unorganized data
Process and store that data
Reports information in formats that are useful to users
What accounting information system
AIS perform the same data collection, transformation ,and reporting as all
information systems, but it is specific to accounting and
financial data
What are the business operations
Business model
business process
Business event
Business model is
Company plan for making a profit that includes (identifying customer base, products)
What are thee type of business model
Franchise
Subscription
Freemium
Peer to peer
direct to consumers
Business Process is
a group of related business events designed to accomplish the strategic objectives of the business
Three primary types of Business processes
Acquisitions and payment processes
Conversion Processes
Marketing, Sales and collection Processes
Business events is
Business events that result in economic activities .
What are the four type of business event or activites
Operating
Financing
Investing
Information
What are the management responsibility for business process
Planning
implementing
monitoring
changing and improving processes
Explain key performance indicators
(KPIs) are quantifiable metrics
used to measure and evaluate the success of a company
based on its objectives
What are fundamental characteristic of useful information
Relevance
Faithful representation
Relevance
Information must be capable of influencing a decision. has a predictive value , confirmatory value : ability to confirm or change decision and a materiality; significant impact on decision
Faithful representation
information must be unbiased and accurate. it has to be complete, neutral and error free
Whats are characteristics of useful information
Verifiability
Timeliness
Understandability
Comparability
