ACCOUNTING SYSTEM INSIGHTS - 4267 Words

AIS – Final Study Chapter Highlights Chapter 1 – ACCOUNTING SYSTEM INSIGHTS 1. Enterprise system – A system that supports business activities throughout the enterprise, including inputs, processing, and outputs 2. Integrated enterprise system – Shares data across functional areas within the enterprise 3. Business processes – Related activities performed by an enterprise to create value by transforming input into output 4. Value chain – An organizing framework for business processes, beginning with vendors and ending with customers Baseline accounting system – A model that provides an enterprise-wide view of the firm`s accounting system 1. Transaction cycles – Accounting transactions related to specific business†¦show more content†¦Why is it important to safeguard information assets? * To protect information assets, organizations implement security and controls to prevent fraud, unauthorized access, modification, destruction, or disclosure. Internal control is the set of policies and procedures enterprises use to safeguard assets, including information assets, and to prevent and detect errors. What are the three functions of an accounting system in today’s business environment? (1) Collecting, recording, and storing financial and accounting data (2) Providing financial analytics and business intelligence for improved decision making and business performance (3) Safeguarding information assets stored in accounting systems using security, controls, and risk management Chapter 2 – ACCOUNTING DATABASES 1. Operational database – Databases used to store data related to business operations and transactions 2. Data warehouse – Stores data from a variety of sources and is used for business intelligence 3. Database administrator (DBA) – Responsible for managing the enterprise’s databases 4. Intersection table – Placed at the junction of two tables to eliminate a many-to-many relationship 5. CompositeShow MoreRelatedHow The Impact On Accounting? Manual Tasks Are Being Automated At A Fast Pace?1045 Words   |  5 PagesAccess to vast amounts of data is creating paradigm shifts in business. What is the impact on accounting? Manual tasks are being automated at a fast pace. Technological advancements, along with the transformation of buying habits to more web-based purchasing is creating opportunities to observe elements of human behavior not previously tracked. Enhanced data tracking creates a sea of data elements av ailable for harvesting. Companies are forming strategies using correlation analysis of behavioralRead MoreProblems and Prospect Business Education in Nigeria Colleges of Education5490 Words   |  22 Pages   Semantic Modeling in Accounting Education, Practice, and Research: Some Progress and Impediments   Ã‚  Ã‚   by    William E. 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