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Accounting Information Systems Test 1 Questions and Answers
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Accounting Information Systems Test 1 Questions and Answers accounting information system a set of interrelated activities, documents, and technologies designed to collect data, process it, and report information to a diverse group of internal and external decision makers in organizations ...

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  • August 3, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • accounting information systems test 1 questions an
  • accounting information system a set of interrelate
  • ais structure 1 internal controls 2 inputs 3 pr
  • inputs include documents such as sales invoices an

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Accounting Information Systems Test 1
Questions and Answers
accounting information system - answer a set of interrelated activities, documents,
and technologies designed to collect data, process it, and report information to a diverse
group of internal and external decision makers in organizations

AIS structure - answer 1. Internal controls
2. Inputs
3. Processes
4. Outputs
5. Storage

Inputs - answer Include documents such as sales invoices and purchase orders.
Accountants would also need to ask questions like these to design and/or audit the
system:
a. What kinds of source documents will system users need?
b. Should the source documents be paper-based, electronic, both?
c. How many copies of each source document will be required?
d. What info should the documents contain?

Processes - answer Include computers and satellites. Here are some other
questions you might ask about processing tools:
a. Which processing tools should the AIS use?
b. Should the tools be manual, computer-based, both?
c. If the computer-based tools are used in the AIS, which software and hardware
packages should be implemented?

Outputs - answer Include the general-purpose financial statements as well as
internal reports such as variance analyses. Other considerations include:
a. Beyond the general-purpose financial statements, what other reports will managers
and system users need?
b. How should the AIS be designed to facilitate their production?

Storage - answer Data in an AIS could be stored in paper form, electronically, or a
mix of both. If the data are stored electronically, they are often broken down into 3 broad
file types. Master, transaction, and junction files. Relevant questions about this include:
a. How should data be stored? On paper? Electronically? Both?
b. Where should data be stored? Locally? Remotely? Both?
c. How long should data be stored?
d. Under what conditions can/should data be destroyed?

, Master files - answer contain data about "things", such as inventory, customers, and
vendors

Transaction files - answer focus on "activities" such as earning revenue and incurring
expenses

Junction files - answer link other files together

Internal Controls - answer Most organizations employ this as daily backup of data
and separation of duties (custody, authority, and record keeping) to maintain control
over specific assets. Other questions might be:
a. What controls are necessary to promote info integrity in the AIS?
b. What behavioral effects are the controls likely to have?
c. Are the controls cost effective?

Sponsored (commercial) info - answer Someone has paid a fee or given other
consideration to have their info put on the Internet, with the main purpose being to sell
products and services.

Popular (practitioner) info - answer Info that has gone through a review process prior
to publication. It may recount the experiences of a specific company or group of
companies, offer suggestions to managers, or present new ideas or ways of thinking.
Usually more trustworthy and objective than sponsored info.

Scholarly info - answer Info that has gone through a review process prior to
publication. Contains a clear research question, a review of related literature, a
thorough description of the methods used to answer the question, and the results and
conclusions of the research project. The additional detail is necessary so that readers
can more easily evaluate the results and conclusions in light of the methodology.

University of Maryland criteria for evaluating information - answer 1. Authority
2. Accuracy
3. Objectivity
4. Currency
5. Coverage

Authority - answer Can you tell who created the information? The purpose of its
creation? Can you contact the author or creating organization, or otherwise establish
their credentials?
Ex: authors published in Strategic Finance are required to provide background and
contact info as part of their articles.

Accuracy - answer Does the site/article/source tell you where the info came from?
Does it contain any obvious errors of fact or misleading graphs, charts, or stats?
Ex: Consider info presented in a graph. Differences can be exaggerated simply by
changing the graph's scaling.

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