22708 Study Guide - Final Guide: Gantt Chart, Buffer Overflow, System Analysis
Document Summary
Primary source for information for managerial decision making. An information system collects processes and stores accounting and other data and reports information. Accounting a data identification, collection and storage process. System a set of two or more interrelated components interacting to achieve a goal. Facts that are collected, recorded stored and processed. Data/ information overload too much information will make it more, not less, difficult to make decisions. Relevant reduces uncertainty, improves decision making or confirms correct prior expectations. Reliable free for error or bias, accurately represents organisation events or activities. Existence the transactions, assets, obligations and equity generated in the system exist. Valid only those transactions and reports that are authorised by the firm should be processed. Complete does not omit important aspects of the events or activities it measures. Timely provided in time for decision maker to make decisions. Measureable transactions, assets, liabilities and equities processed in the system are measured accurately.
