Accounting Information Systems
Exam
Q&A
What is an accounting information system? - answer-A system that records, processes,
and reports both financial and non-financial information.
What aspects does a simple information system have? - answer-Input, processing,
storage, and output.
What is processing? - answer-Activities at the transaction level - CRUD (Create new
records, Read existing records, Update existing records, Delete records or data).
What are two different types of databases? - answer-Hierarchical and relational.
What is a hierarchical database? - answer-An outdated method where you need data at
a higher level to obtain data at a lower level.
What is a relational database? - answer-A database used frequently today that allows
all business streams to access data and information as required by the business.
Example: Sheridan Student Services booking system.
What is the difference between data and information? - answer-Data are raw facts (ie.,
numbers) that describe an event and have little meaning on their own. Information is
data organized to be meaningful for the user. Data serves as an input.
What is discretionary information? - answer-Information that is not required by law.
Think: secret
What is mandatory information? - answer-Information that is mandatory by law.
What is a value chain? - answer-The primary activities (Inbound > Operations >
Outbound > Marketing > Service)
What is the supply chain? - answer-Refers to the flow of materials, information,
payments, and services from suppliers through to the customer.
What are the typical business cycles of AIS - answer-Revenue cycle, Expenditure cycle,
Hr/Payroll cycle, Production/Manufacture cycle, Financing cycle.
Exam
Q&A
What is an accounting information system? - answer-A system that records, processes,
and reports both financial and non-financial information.
What aspects does a simple information system have? - answer-Input, processing,
storage, and output.
What is processing? - answer-Activities at the transaction level - CRUD (Create new
records, Read existing records, Update existing records, Delete records or data).
What are two different types of databases? - answer-Hierarchical and relational.
What is a hierarchical database? - answer-An outdated method where you need data at
a higher level to obtain data at a lower level.
What is a relational database? - answer-A database used frequently today that allows
all business streams to access data and information as required by the business.
Example: Sheridan Student Services booking system.
What is the difference between data and information? - answer-Data are raw facts (ie.,
numbers) that describe an event and have little meaning on their own. Information is
data organized to be meaningful for the user. Data serves as an input.
What is discretionary information? - answer-Information that is not required by law.
Think: secret
What is mandatory information? - answer-Information that is mandatory by law.
What is a value chain? - answer-The primary activities (Inbound > Operations >
Outbound > Marketing > Service)
What is the supply chain? - answer-Refers to the flow of materials, information,
payments, and services from suppliers through to the customer.
What are the typical business cycles of AIS - answer-Revenue cycle, Expenditure cycle,
Hr/Payroll cycle, Production/Manufacture cycle, Financing cycle.
