mgta04 final exam prep.docx

7 Pages
439 Views
Unlock Document

School
University of Toronto Scarborough
Department
Management (MGT)
Course
MGTA02H3
Professor
Chris Bovaird
Semester
Summer

Description
Chapter 3  Information managers- Managers responsible for activities needed to generate, analyze, and disseminate information for a company to make useful decisions  Information management- An internal operation which gathers a company’s information resources to support a business’ performance and outcome  Data- raw facts and figures  Information- Interpretation of the raw facts and figures  Information system- An organized system which transforms raw data into useful information that the company can use for decision making o Improve performance o Assist in scheduling day to day trip vehicle trips, evaluating prospective employees, and formulating a business’ strategy o In 1950’s-1960s- small technical problems, 1960s-1970’s- small management problems, 1970s-1980’s- high management problems, 1990’s-2000s- Organization wide planning and implementation o Quality control standards- comparing costs against budgeted amounts, keeping records of employees absences and turnovers o Planning future products and demographics, financial planning, managing material flow etc..  Electronic Information Technologies- IS applications based on telecommunications technologies  They improve business performance by following two functions o Providing coordination and communication with them firm o Speeding up transactions with other firms  The main telecommunication technologies are: o Fax machine- sending digital documents over telephone lines o Voice mail- receiving and delivering incoming telephone calls o Electronic mail-electronic transmission of reports and documents btwn computers o Electronic conferencing- 2 or more people communicating with each other from diff locations o Groupware- a system that allows two or more individuals to communicate electronically b/w desktop PCs  Data communication networks- A global network which allows users to send information quickly and economically  Internet- the network of networks which offers information about diff topics and provides communication flows among more 170,000 netorks  ISP (American online, prodigy)- A commercial firm which maintains a permanent connection with the internet and sells temp connections to suscribers  World Wide Web- a system of universally accepted standards which formats, displays, retrieves, and stores info on the web  Web servers- large computers which are customized for managing, maintaining and supporting websites   Browser- software that people can use to access info on the web i.e chrome  Directories- features that people find the content they want on the web  Search eng- Software for searching for webpages that do not pre-classify them into a directory  Intranets- private ntwork that only employees have access too  Firewall- hardware and software systems which ensureinternal networks are not accessible to outsiders  Extranet – a network that provides limited access to outsiders about internal info Organizational design  Leaner organization  More flexible operations o Mass customization- large volumes but there is still customer customization  Increased collaboration  Networking & virtual- virtual company formed by many allied firms  Improved Management processes  Enterprise resource planning- An information system which integrates all activities of a company’s business units  Knowledge workers- workers that use knowledge and information as raw materials in their work place. Often they are professionally trained i.e. engineer  4 user groups o First line managers- Operational info system o Knowledge workers- knowledge system o Middle managers- management info system o Top level managers- Strategic info system  Transaction Processing system- application of business processes for day-today business transactions  Systems Operations Personnel- People who run a company’s computer equipment  Computer aided design- A system that uses graphics and computer analysis to design & create new products in 3D  Computer aided manufacturing- computer systems used to design and control all the equipment and tools used for producing used  Management Information systems (MIS) systems that support an organizations managers by providing daily reports, schedules, plans, and budgets  Decision Support system- computer systems used to provide alternatives to managers when making decision on complex problems  Executive Support system- a quick reference, easy-access application of information systems specially designed for upper level managers  Artificial intellengence- imitate human behavior  Robotics- computer controlled machines which perform productive tasks  Expert system- designed to imitate human experts knowledge  Computer network- a number of computers in diff locations that can fxn independently but are still interconnected  Hardware- physical components of a computer system  Input device- hardware that gets data into a form the computer can accept  CPU- primary storage unit where the conversion of data into info takes place  Main memory- the part of CPU which stores the main programs a computer needs to operate  Program- sequence of instructions to a computer  Output device- provides results to a computer Chapter 4- Accounting  Accounting- A comprehensive information system which is used for collecting, analyzing and communicating financial information  Book keeping- recording business transactions  Accounting Information system- An organized procedure used for identifying, measuring, recording, and retaining financial info which can be used for accounting statements and management reports.  Numerous users of accounting information  Business managers- planning, setting goals  Employees and union- to get paid and planning employee benefits  Investors and creditors- estimate returns to stockholders, determining future growth prospects, and evaluating credit risk  Taxing authorities- tax inflows  Gov’t regulatory agencies  The head of the AIS is the controller- manages all of the firm’s accounting activities  Two main fields: financial & managerial accounting  Financial accounting- deals with external unions and it provides reports so external users can assess the financial position of the firm (company as a whole)  Managerial accounting- internal procedures which help managers in planning and decision making (focuses on individual units)  CA- an individual has met certain education and experience requirements and has passed the licencing exam and acts as an outside accountant for other firms  CGA- an indiv who has a degree and passed a national exam . works in private firm of CGA firm  CMA- an indiv who has a univ degree, national exam, and completed a strategic leadership course. Works in industry and focuses on internal management accounting  An audit- Is when an accountant is examining financial records to make sure it is accurate and have been prepared using proper procedures  Forensic accountants- accountants who track down hidden funds  GAAP- standard rules and regulations that accountants must follow when preparing financial reports  Pivate accountants- manage day-to-day accounting  A=L+OE  O/E: share capital & r/e  Double-entry accounting system- every transaction affects two accounts so the accounting equation still balances  Marketable securties-stocks and bonds  Good will: the amount paid for an existing business beyond the value of the assets  Paid in capital-additional money invested by the owner  Income statement (proft/loss statement)  Profit/loss=bottom line  Gross profit %= gross profit/net sales  Statement of cash flows- a firm’s generation and use of cash during a given period o Cash flow from operation: Buying and selling g/s o Cash flow from investing: Buying/selling stocks o Cash flow from financing: borrowing or issuing stocks  Internal financial statement is the budget- a detailed financial statement of estimated receipts
More Less

Related notes for MGTA02H3

Log In


OR

Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.

Submit