ACCT 307 Study Guide - Midterm Guide: Balanced Scorecard, Health Insurance Portability And Accountability Act, Management Consulting
Document Summary
Read textbook and lecture slides and understand the main concepts for each chapter. An information system can be any organized combination of: An information system collects, transforms, and disseminates information in an organization. An accounting information system is a subset (subsystem) of the organization"s information system. Data is raw facts with no organization or meaning, which is the beginning of audit trail. Traditional role evaluate the accuracy and completeness of a corporation"s financial statements. Present role evaluate client"s compliance with hipaa laws, it evaluations and audits (security, privacy), and management consulting: cost accounting. Activity-based costing is a costing method that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption of each. Activity-based costing assigns overhead costs based on the resources, rather than only direct labor, used in manufacturing. Balanced scorecard financial performance, customer knowledge, internal business processes, learning and growth.
