ACC306 Ch.1 Part 1 Accounting Information Systems

These flashcards cover the key terms and concepts related to accounting information systems as discussed in the lecture.

System

A set of detailed methods, procedures, and routines that carry out specific activities.

Subsystem

A smaller system that is part of a larger system, working together to achieve a common goal.

Goal Conflict

When a subsystem's goal is inconsistent with the goal of another subsystem or the whole system.

Goal Congruence

When all subsystems work together to achieve the goal of the larger system.

Data

Naked facts collected about any activity that occur.

Information

Data that is organized and stored in context, making it useful for decision-making.

Information Overload

Too much information that impairs decision-making quality.

Information Technology

Technological tools that help in data gathering, storage, and decision-making.

Access Restricted

Protecting data to ensure that only authorized users can access it.

Accurate

Data that is free from error and reliably reflects the truth.

Available

Data that is accessible whenever it is needed for decision-making.

Reputable

Data perceived as high quality, often prepared by an expert.

Complete

Data that includes all necessary information without omissions.

Concise

Information that is brief and relevant without unnecessary details.

Consistent

Information that maintains the same format year after year for ease of comparison.

Current

Data that is up to date and relevant for decision-making.

Objective

Unbiased information that is not influenced by personal interests.

Relevant

Information that is related to the decision being made.

Timely

Information that is provided on time to be useful before decisions are made.

Usable

Data that can be easily analyzed and used for various tasks.

Understandable

Information presented in a clear manner so that it can be understood by non-experts.

Verifiable

Information that can be independently checked and validated for accuracy.