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CIS Flashcards

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1
Q

Gather and analyze facts about problems with current system and formulate solution

A

Systems Professionals

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2
Q

Primary users needs are solicited

A

End Users (Managers, Operations Personnel, Accountants, Internal Auditors)

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3
Q

Individuals who have an interest in the system but are not end users

A

Stakeholders (Accountants, Internal and external Auditors)

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4
Q

Readily available
and readily use of software system.

A

Turnkey Systems (Commercial Systems)

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5
Q

You need to further edit but it has it’s own accounting system.

A

General Accounting systems (Commercial Systems)

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6
Q

You can acquire what you need, there is only certain item in general accounting system.

A

Special purpose systems (Commercial Systems)

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7
Q

Moving from one system to another without human intervention.

A

Office Automation systems (Commercial Systems)

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8
Q

Doesn’t have items, only has modules.

A

Backbone systems (Commercial Systems)

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9
Q

there is a supporting vendor when making the system.

A

Vendor Supported systems (Commercial Systems)

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10
Q

Advantages of Commercial Software

A

Implementation Time
Cost
Reliability

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11
Q

Disadvantages of Commercial Software

A

Independence
The need for customized systems (becomes dependent on vendor)
Maintenance

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12
Q

Links individual projects or applications to the strategic objectives of the firm.

A

Systems Planning

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13
Q

allocation, processing, budgeting, informed decisions by systems specialists

A

Strategic Systems Planning

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14
Q
  • Authorizing development of new systems
  • Addressing and documenting user needs
  • Technical design phases
  • Participation of internal auditors
  • Testing program modules before
    implementing
    o Testing individual modules by a team of
    users, internal audit staff, and systems
    professionals
A

Systems Development Activities

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15
Q

develop in existing technology

A

Technical Feasibility

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16
Q

availability of
funds

A

Economic Feasibility

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17
Q

conflicts between conceptual concept & discharge liabilities

A

Legal Feasibility

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18
Q

Compatibility

A

Operational Feasibility

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19
Q

ability to implement within acceptable time

A

Schedule Feasibility

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20
Q

Data Source
Data Flows
Error Rates
Data Stores
Controls
Resource Costs
Data Processes
Transaction Volumes
Bottlenecks and Redundant Operations

A

Gathering Facts and Facts Gathering Techniques

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21
Q

PHASE 1 (Phases and Associated Documentation)

A

Systems Planning

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22
Q

PHASE 2 (Phases and Associated Documentation)

A

Systems Analysis

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23
Q

PHASE 3 (Phases and Associated Documentation)

A

Conceptual System Design

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24
Q

ITERATIVE APPROACH

A

reduced time for cost development, maintenance, testing and improved user support & flexibility

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25
PHASE 4 (Phases and Associated Documentation)
System and Evaluation and Selection
26
PHASE 5 (Phases and Associated Documentation)
Detailed Design
27
PHASE 6 (Phases and Associated Documentation)
Application Programming and Testing
28
PHASE 7 (Phases and Associated Documentation)
System Implementation (Go Live)
29
PHASE 8 (Phases and Associated Documentation)
Systems Maintenance
30
where application program source code are stored
Source Program Library Controls
31
An economic event that affects the assets and equities of the firm, is reflected in its accounts, and is measured in monetary terms. TYPES: o the expenditure cycle o the conversion cycle o the revenue cycle
Financial Transaction
32
time lag between the two due to credit relations with suppliers
Expenditure Cycle
33
the production system (planning, scheduling, and control of the physical product through the manufacturing process)
Conversion Cycle
34
monitors the flow of cost information related to production
Cost Accounting System
35
time lag between the two due to credit relations with customers
Revenue Cycle
36
used to capture and formalize transaction data needed for transaction processing
Source Documents (Manual System Accounting Records)
37
the result of transaction processing
Product Documents (Manual System Accounting Records)
38
a product document of one system that becomes a source document for another system
Turnaround Documents (Manual System Accounting Records)
39
a record of chronological entry
Journals (Manual System Accounting Records)
40
specific classes of transactions that occur in high frequency
Special Journals
41
nonrecurring, infrequent, and dissimilar transactions
General Journal
42
a book of financial accounts
Ledger
43
shows activity for each account listed on the chart of accounts
General Ledger
44
shows activity by detail for each account type
Subsidiary Ledger
45
generally contains account data (e.g., general ledger and subsidiary file)
Master File
46
a temporary file containing transactions since the last update
Transaction File
47
contains relatively constant information used in processing (e.g., tax tables, customer addresses)
Reference File
48
contains past transactions for reference purposes
Archive File
49
Five common documentation techniques:
o Entity Relationship Diagram o Data Flow Diagrams o Document Flowcharts o System Flowcharts o Program Flowcharts
50
is a documentation technique to represent the relationship between entities in a system.
Entity Relationship Diagram (ERD)
51
Widely used in AIS. REA uses 3 types of entities: o resources (cash, raw materials) o events (release of raw materials into the production process) o agents (inventory control clerk, vendor, production worker)
The REA model version of ERD
52
* use symbols to represent the processes, data sources, data flows, and entities in a system * represent the logical elements of the system * do not represent the physical system
Data Flow Diagrams (DFD)
53
* illustrate the relationship among processes and the documents that flow between them * contain more details than data flow diagrams * clearly depict the separation of functions in a system
Documents Flowcharts
54
* are used to represent the relationship between the key elements--input sources, programs, and output products--of computer systems * depict the type of media being used (paper, magnetic tape, magnetic disks, and terminals) * in practice, not much difference between document and system flowcharts
System Flowcharts
55
illustrate the logic used in problems
Program Flowcharts
56
* client-server based and process transactions in real time * use relational database tables * have high degree of process integration and data sharing * some are mainframe based and use batch processing Some firms employ legacy systems for certain aspects of their data processing. * Accountants need to understand legacy systems. Legacy systems charac
Modern systems
57
* mainframe-based applications * batch oriented * early legacy systems use flat files for data storage * later legacy systems use hierarchical and network databases * data storage systems promote a single-user environment that discourages information integration
Legacy systems
58
assemble transactions into groups for processing. Under this approach, there is always a time lag between the point at which an economic event occurs and the point at which it is reflected in the firm’s accounts.
Batch Systems
59
process transactions individually at the moment the event occurs. Because records are not grouped into batches, there are no time lags between occurrence.
Real-time Systems
60
A batch is a group of similar transactions that are accumulated over time and then processed together. * The transactions must be independent of one another during the time period over which the transactions are accumulated in order for batch processing to be appropriate. * A time lag exists between the event and the processing
Batch Processing
61
source documents are transcribed by clerks to magnetic tape for processing later
Keystroke (1)
62
- identifies clerical errors in the batch and places them into an error file
Edit Run (2)
63
places the transaction file in the same order as the master file using a primary key
Sort Run (3)
64
changes the value of appropriate fields in the master file to reflect the transaction
Update Run (4)
65
the original master continues to exist and a new master file is created
Backup Procedure (5)
66
* process transactions individually at the moment the economic event occurs * have no time lag between the economic event and the processing * generally require greater resources than batch processing since they require dedicated processing capacity; however, these cost differentials are decreasing * oftentimes have longer systems development time
Real-Time Systems
67
DATA CODING SCHEMES
* SEQUENTIAL CODES * BLOCK CODES * GROUP CODES * ALPHABETIC CODES * MNEMONIC CODES
68
FINANCIAL REPORTING PROCESS
* Capture Transactions. * Record the Special Journal. * Post to Subsidiary Ledger. * Post to General Ledger. * Prepare the unadjusted trial balance. * Make Adjusting Entries. * Journalize & post adjusting entries. * Prepare the trial balance. * Prepare the FS. * Journalize & post closing entries. * Prepare the post-closing trial balance.
69
listing of transactions o allocation of expenses to cost centers o comparison of account balances from prior periods o trial balances
General ledger analysis:
70
o balance sheet o income statement o statement of cash flows
Financial statements:
71
o analysis of sales o analysis of cash o analysis of receivables
Managerial Reports
72
coded listing of accounts
Chart of accounts
73
is an XML-based language for standardizing methods for preparing, publishing, and exchanging financial information, e.g., financial statements.
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