AFM341 Study Guide - Winter 2018, Comprehensive Midterm Notes - Atomic-Force Microscopy, Business Process, Unified Modeling Language

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lilacmouse857

12 Oct 2018

School

University of Waterloo

Department

Accounting & Financial Management

Course

AFM341

Professor

Anita patel

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AFM341

MIDTERM EXAM

STUDY GUIDE

Fall 2018

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Ifoatio is a stategi asset if the fi kos hat ifoatio it eeds, deelops sstes to

ollet that ifoatio, ad uses that ifoatio to ake itial deisios to ipat

pefoae

•

Itrodutio

Hoee, the data eed eleae, lait, ad aua.

○

This is h aoutats ae osideed i a good positio of usiess aalst eause of

ho e aess ad attest to ualit of ifoatio

○

We ake deisios suh as Outsoue s. stutue a aehouse to lease, et.

○

Fis hae aess to teedous aout of data ad use the to ehak atiities ad

opae esults to deteie the ost effetie a to alloate esoues suh as talet, apital,

ad epeses

•

Aoutats As Busiess Aalsts

It is a sste that eods, poesses, suaizes, ad epots o usiess tasatios to

poide fiaial ad o

fiaial ifoatio to failitate deisio akig

○

Esue iteal otols

○

AIS ollets, poesses, ad epots ifoatio deeed useful i deisio akig

○

Ifoatio sste



Aoutig 

AIS has to taditioal disiplies:

○

Aoutig Iforatio Sste AIS is used i ee fi•

Defiitio of Aoutig Iforatio Sstes

AIS eplaied usig a geeal sste elo

•

A Siple Iforatio Sste

Peditie alue foeastig futue

○

Feedak alue oets/ofi past

○

Tieliess aailale he eeded o i tie to ipat deisios

○

Releae

•

Veifiale a e ofied  a idepedet pat○

Repesetatioal faithfuless epots hat atuall happeed○

Neutalit ifoatio is ot iased○

Reliailit

•

Ifoatio is eleat ol if it ould affet a usiess deisio

○

Releae

•

Fee fo ias ad eo

○

Reliailit

•

The est ifoatio is eliale ifoatio afte a audit is oplete ut that ould’t e

tieliess

○

The ost eleat ifoatio a euie a estiate of alues ut it a e sujet to

ias

○

Tade offs etee eleae ad eliailit

•

Best ifoatio ight ilude soe ifoatio that teds to e oe eliale ad othe teds

to e oe eleat ad i oiatio opleet eah othe

•

Attriutes of Useful Iforatio

Data

ae a fats that desie the haateistis of a eet that , i isolatio, hae little

eaig

•

Data Versus Iforatio

Chapter 1

Accoutig Iforatio systes ad fir

value

Jaua ,  : AM

AFM 341 Page 1

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eaig

Data ae ofte poessed ad the oied ith the appopiate otet○

Iforatio

is defied as eig data ogaized i a eaigful a to e useful to the use

•

AIS eeds to poide ifoatio that is useful ut ot oehelig

○

Iforatio overload is defied as the diffiult a peso faes i udestadig a pole ad

akig a deisio as a oseuee of too uh ifoatio

•

○

Iforatio value hai

•

Atiit

ased ostig ABC sste i aageial aoutig to tade ho oehead osts

should e alloated

○

Maageet ust deteie if the eefits of eeiig that ifoatio ae geate tha

the osts of poduig it

○

Disretioar iforatio

is he thee is o la euiig that it e poided to aageet

•

Podued at the loest possile ost to opl ith the las of the egulatos

○

Madator iforatio: goeed  la suh as aoutig ifoatio podued fo eteal

puposes used  iestos, aks, et.

•

Disretioar versus Madator Iforatio

Pofessioal aoutig has eged ad deeloped ith IT to suh a etet that oe a hadl

oeie of aoutig idepedet fo IT

•

Aoutats hae a ole to sole usiess poles usig ifoatio that is poided

ssteatiall  AIS

•

Role of Aoutats i Aoutig Iforatio Sstes

The aoutat as use of AIS- hethe it e iputtig joual eties ito a aoutig sste o

usig ati

ius softae to potet the sste

•

Must e ale to pla ad oodiate AIS ad e ale to ogaize ad staff, diet ad lead,

ad oito ad otol those ifoatio sstes

○

The aoutat as aage of AIS e.g. fiaial aage, otolle, CFO

•

Wok to deelop a sste that ill eet the eeds of use

○

Wok ith ke phases of sste aalsis ad desig e.g. pepaatio of a feasiilit aalsis;

ifoatio euieets eliitatio, ad douetatio tehiues

○

Must udestad usiess poesses ad the ifoatio euieets of othe sstes

○

The aoutat as desige of AIS e.g. usiess sste desig tea

•

The

Saraes

Ole At of 2002 SOX

euies a ealuatio of the iteal otols i a

AIS

○

Aoutats ust tailo stadad ealuatio appoahes to a AIS ad offe patial

eoedatios fo ipoeet hee appopiate

○

Appl eleat IT tools ad tehiues

○

The aoutat as ealuato of AIS e.g. IT Audito

•

Need to udestad the desig of the sste

○

All aoutats should e pofiiet i the AIS use ole ad oe othe ole

•

Speifi Aoutig Roles

Get etifiates to sho opete

•

Certifiatios i Aoutig Iforatio Sstes

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Document Summary

Chapter 1- accou(cid:374)ti(cid:374)g i(cid:374)for(cid:373)atio(cid:374) syste(cid:373)s a(cid:374)d fir(cid:373) value. I(cid:374)fo(cid:396)(cid:373)atio(cid:374) is a st(cid:396)ategi(cid:272) asset if the fi(cid:396)(cid:373) k(cid:374)o(cid:449)s (cid:449)hat i(cid:374)fo(cid:396)(cid:373)atio(cid:374) it (cid:374)eeds, de(cid:448)elops s(cid:455)ste(cid:373)s to (cid:272)olle(cid:272)t that i(cid:374)fo(cid:396)(cid:373)atio(cid:374), a(cid:374)d uses that i(cid:374)fo(cid:396)(cid:373)atio(cid:374) to (cid:373)ake (cid:272)(cid:396)iti(cid:272)al de(cid:272)isio(cid:374)s to i(cid:373)pa(cid:272)t pe(cid:396)fo(cid:396)(cid:373)a(cid:374)(cid:272)e. Fi(cid:396)(cid:373)s ha(cid:448)e a(cid:272)(cid:272)ess to t(cid:396)e(cid:373)e(cid:374)dous a(cid:373)ou(cid:374)t of data a(cid:374)d use the(cid:373) to (cid:271)e(cid:374)(cid:272)h(cid:373)a(cid:396)k a(cid:272)ti(cid:448)ities a(cid:374)d (cid:272)o(cid:373)pa(cid:396)e (cid:396)esults to dete(cid:396)(cid:373)i(cid:374)e the (cid:373)ost effe(cid:272)ti(cid:448)e (cid:449)a(cid:455) to allo(cid:272)ate (cid:396)esou(cid:396)(cid:272)es su(cid:272)h as tale(cid:374)t, (cid:272)apital, a(cid:374)d e(cid:454)pe(cid:374)ses. Ho(cid:449)e(cid:448)e(cid:396), the data (cid:374)eed (cid:396)ele(cid:448)a(cid:374)(cid:272)e, (cid:272)la(cid:396)it(cid:455), a(cid:374)d a(cid:272)(cid:272)u(cid:396)a(cid:272)(cid:455). This is (cid:449)h(cid:455) a(cid:272)(cid:272)ou(cid:374)ta(cid:374)ts a(cid:396)e (cid:272)o(cid:374)side(cid:396)ed i(cid:374) a good positio(cid:374) of (cid:271)usi(cid:374)ess a(cid:374)al(cid:455)st (cid:271)e(cid:272)ause of ho(cid:449) (cid:449)e a(cid:272)(cid:272)ess a(cid:374)d attest to (cid:395)ualit(cid:455) of i(cid:374)fo(cid:396)(cid:373)atio(cid:374) We (cid:373)ake de(cid:272)isio(cid:374)s su(cid:272)h as outsou(cid:396)(cid:272)e (cid:448)s. st(cid:396)u(cid:272)tu(cid:396)e a (cid:449)a(cid:396)ehouse to lease, et(cid:272). A(cid:272)(cid:272)ou(cid:374)ti(cid:374)g i(cid:374)for(cid:373)atio(cid:374) s(cid:455)ste(cid:373) (cid:894)ais(cid:895) is used i(cid:374) e(cid:448)e(cid:396)(cid:455) fi(cid:396)(cid:373) It is a s(cid:455)ste(cid:373) that (cid:396)e(cid:272)o(cid:396)ds, p(cid:396)o(cid:272)esses, su(cid:373)(cid:373)a(cid:396)izes, a(cid:374)d (cid:396)epo(cid:396)ts o(cid:374) (cid:271)usi(cid:374)ess t(cid:396)a(cid:374)sa(cid:272)tio(cid:374)s to p(cid:396)o(cid:448)ide fi(cid:374)a(cid:374)(cid:272)ial a(cid:374)d (cid:374)o(cid:374)-fi(cid:374)a(cid:374)(cid:272)ial i(cid:374)fo(cid:396)(cid:373)atio(cid:374) to fa(cid:272)ilitate de(cid:272)isio(cid:374) (cid:373)aki(cid:374)g. Ais (cid:272)olle(cid:272)ts, p(cid:396)o(cid:272)esses, a(cid:374)d (cid:396)epo(cid:396)ts i(cid:374)fo(cid:396)(cid:373)atio(cid:374) dee(cid:373)ed useful i(cid:374) de(cid:272)isio(cid:374) (cid:373)aki(cid:374)g.

AFM341 Study Guide - Winter 2018, Comprehensive Midterm Notes - Atomic-Force Microscopy, Business Process, Unified Modeling Language

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