ACTG 2011 Lecture Notes - Lecture 4: Business Process, Credit Manager
22 Jan 2018
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Document Summary
Two or more interrelated components that interact to achieve a goal, often composed of subsystems that support the larger system. For example, a college of business is a system composed of various departments, each of which is a subsystem. Moreover, the college itself is a subsystem of the university. Data - are facts that are collected, recorded, stored, and processed by an information system. (input into a system) For example, the business needs to collect data about a sale (date, total amount), the resource sold (good or service, quantity sold, unit price), and the people who participated (customer, salesperson). For example, data could be a number, a date, a name of a business. Yet the facts are not meaningful until you place the facts within a context. Information - is data that have been organized and processed to provide meaning and improve the decision-making process. (output of the system)
