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Course : Z0257 Accounting InformationSystem And Internal Control (2/2)
!ecti"e #eriod : Se$tem%er 20&5
Accounting InformationSystem: An Overview
Session 1
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These slides have been adapted from:
Romney B !arshall and Steibart " #aul $%&1%'Accounting Information System 1%th edition #earson
(ducation )ondon ISB*:+,-&%,.,/0.,0
hapter 1
Acknowledgement
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Learning Objectives
Distinguish between data and information.
Discuss the characteristics of useful information.
Explain how to determine the value of information.
Explain the decisions an organization makes and the information needed to make them.
Identif the information that passes between internal and external parties and an !I".
Describe the major business processes present in most companies.
Explain what an accounting information sstem #!I"$ is and describe its basic functions.
Discuss how an !I" can add value to an organization.
Explain how an !I" and corporate strateg a%ect each other.
Explain the role an !I" plas in a compan&s value chain.
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1hat Is a "stem2
System
! set of two or more
interrelated componentsinteracting to achieve agoal
Goal Confict
Occurs when componentsact in their own interestwithout regard for overall
goal
Goal Congruence
Occurs when componentsacting in their own interestcontribute toward overallgoal
,rocess+
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Data vs. Information
Dataare facts that arerecorded and stored.
Insu4cient for decisionmaking.
Inormationis processeddata used in decisionmaking.
5oo much informationhowever- will make it
more- not less- di4cultto make decisions. 5hisis known asInormationOverload.
Information
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7alue of Information
8ene9ts
:educe ;ncertaint
Improve Decisions
Improve ,lanning
Improve "cheduling
'osts
5ime < :esources
,roduce Information
Distribute Information
+/=
8ene9t >&s ? 'ost >&s
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1hat @akes Information ;seful2
Aecessar characteristicsB Relevant
C5he capacit of information to make a di%erence in adecision b helping users to form predictions about theoutcomes of past- present- and future events or to
con9rm or correct prior expectations. Reliable
C5he ualit of information that assures thatinformation is reasonabl free from error and bias andfaithfull represents what it purports to represent.
Comlete
C5he inclusion in reported information of everthingmaterial that is necessar for faithful representation ofthe relevant phenomena.
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1hat @akes Information ;seful2
!imely
Caving information available to a decision makerbefore it loses its capacit to inGuence decisions.
"nderstandable
C5he ualit of information that enables users to
perceive its signi9cance. #eri$able
C5he abilit through consensus among measurers toensure that information represents what it purports torepresent or that the chosen method of measurementhas been used without error or bias.
Accessible
!vailable when needed #see 5imel$ and in a usefulformat #see ;nderstandable$.
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8usiness ,rocess
"stems working towardorganizational goals
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8usiness ,rocess 'cles
:evenue
Expenditure
,roduction
uman :esources
Jinancing
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8usiness 5ransactions
KiveKet exchanges
8etween two entities
@easured in economic terms
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8usiness 'cle KiveKet
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!ccounting Information "stems
'ollect- process- store- and report data and information
If !ccounting M language of business
!I" M information providing vehicle
!ccounting M !I"
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'omponents of an !I"
,eople using the sstem
,rocedures and Instructions
Jor collecting- processing- and storing data
Data
"oftware
Information 5echnolog #I5$ Infrastructure
'omputers- peripherals- networks- and so on
Internal 'ontrol and "ecurit
"afeguard the sstem and its data
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!I" and 8usiness Junctions
'ollect and store data about organizationalB
!ctivities- resources- and personnel
5ransform data into information enabling
@anagement toB
,lan- execute- control- and evaluate
!ctivities- resources- and personnel
,rovide adeuate control to safeguard
!ssets and data
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!I" 7alue !dd
Improve Nualit and :educe 'osts
Improve E4cienc
Improve "haring nowledge
Improve "uppl 'hain
Improve Internal 'ontrol
Improve Decision @aking
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Improve Decision @aking
Identif situations that reuire action.
,rovide alternative choices.
:educe uncertaint.
,rovide feedback on previous decisions.
,rovide accurate and timel information.
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7alue 'hain
5he set of activities a product or service moves alongbefore as output it is sold to a customer
!t each activit the product or service gains value
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7alue 'hainP,rimar !ctivities
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7alue 'hainP"upport !ctivities
Jirm Infrastructure
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7alue 'hain
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!I" and 'orporate "trategOrganizations have limitedresources- thusinvestments to !I" shouldhave greatest impact on
:OI.
Organizations need tounderstandB
I5 developments
8usiness strateg
Organizational culture
1ill e%ect and be e%ectedb new !I"
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5hank Qou
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