Question 1

How can an AIS become part of the firm's value chain and add value to the business?

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Question 2

Define data,information,and how the value of information is determined.

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Question 3

What is the purpose behind the five primary activities in the value chain?

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Question 4

How can an AIS add value to the organization?

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Question 5

Discuss the concept of a system and the issues of goal conflict and goal congruence.

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Question 6

Which of the following is not one of the three basic types of data about a specific sales transaction that should be captured by an Accounting Information System?
A) Name of the employee who completed the sale
B) Daily sales quota
C) Product sold
D) Date

Accepted Answer

The three basic types of data about a specific sales transaction that should be captured by an accounting information system are: product sold, date, and name of the employee who completed the sale. Daily sales quota is not a specific data point related to a single sales transaction.

Question 7

How are "Give and Take" transactions classified in business today and what impact does this have on AIS?

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Question 8

Why have accounting software packages been designed with separate transaction modules?

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Question 9

How can the value of the information produced by an accounting information system be determined? What would a measurement and verification expert think about quantification and verification of such information?

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Question 10

Differentiate between an AIS course and other accounting courses.

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Question 11

Define an accounting information system.

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Question 12

Explain what an AIS is,describe the basic tasks it performs in an organization,and give some examples of the types of accounting transactions it processes.

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Question 13

Define the concept of a system.

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Question 14

Discuss the components of a supply chain.

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Question 15

How can a well-designed AIS improve the efficiency and effectiveness of a company's value chain?

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Question 16

Who of the following is not a stakeholder with whom an accounting information system typically communicates directly?
A) Wall Street industry analyst
B) Venture capitalist
C) Company that supplies raw materials
D) Company that purchases finished goods for resale to consumers

Accepted Answer

While a Wall Street industry analyst may use the information provided by an accounting information system, they typically do not communicate with it directly. The other options listed, such as suppliers and customers, are directly involved with the accounting information system as stakeholders.

Question 17

What is the CITP designation and why is it important to AIS?

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Question 18

Identify the components of an accounting information system.

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Question 19

Discuss the seven characteristics of useful information.

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Quiz 1: Accounting Information Systems: an Overview