ACC200 Ch1 Set 2 REVERSED Flashcards Preview

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Flashcards in ACC200 Ch1 Set 2 REVERSED Deck (20):
1

when a subsystem achieves its goals while contributing to the organisations overall goal. The larger the organisation & the more complicated the system the more difficult it is to achieve goal congruence.

When does goal congruence occur in a system?

2

- Simplicity - Performance - Economy -----> this results in good design

System aspects in designing a system?

3

an absence of 'wrong things'

How can you define good design?

4

a set of facts that are collected, recorded, stored & processed by an information system

Data

5

data that has been organised & processed to provide meaning & improve decision-making processes

Information

6

this occurs when there are limits to the amount of information a human mind can absorb and process are pasted. Resulting in a decline in decision-making quality & an increase in the cost of providing that information

Data overload

7

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

Value of information

8

- reduced uncertainty - improved decision - improved ability to plan & schedule activities -----> resulting in lower organising costs

Benefits of quality information

9

the time & resources spent to produce, store & distribute information

Information costs

10

- relevant - reliable - existance - valid - complete - timely - measureable - understandable - verifiable - accessible

Characteristic that make information useful & meaningful?

11

viewed as the "wrongness" that must be avoided to achieve a good design system

Characteristics of useful information?

12

reduces uncertainty, improves decision-making, or confirms or corrects prior expectations

Relevant

13

free from error or bias; accurately represents organisations events or activities

Reliable

14

the transactions, assets, obligations & equity generated in the system exist

Existence

15

only those transactions & reports that are authorised by the firm should be processed

Valid

16

does not omit important aspects of the events or activities it measures

Complete

17

provided in time for decision-makers to make decisions

Timely

18

transactions, assets, liabilities, & equities processed in the system are measured accurately

Measureable

19

presented in a useful & intelligible format

Understandable

20

two independent, knowledgeable people can produce the same information

Verifiable