Accounting Information Systems 2

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AQ 1.1
Match the description in the right column with the information characteristic in the left column. |1. Relevant |f. An accounts receivable aging report used in credit granting decisions | |2. Reliable |e. A report checked by 3 different people for accuracy | |3. Complete |d. An accounts receivable aging report that included all customer accounts | |4. Timely |g. An accounts receivable aging report was received before the credit manager had to make a | | |decision whether to extend customer credit | |5. Understandable |a. The report was carefully designed so that the data contained on the report became | | |information to the reader | |6. Verifiable |c. The data on a report was checked by two clerks working independently | |7. Accessible |b. The manager was working one weekend and needed to find some information about production | | |requests for a certain customer. He was able to find the report on the company’s network. |

AQ 1.2

|Quality |Inquiry |Daily |Monthly | |Understandable |User can control format. |User may not be able to control format|User may not be able to control | | |Therefore, most understandable. |because reports are meant for a wide |format because reports are meant for | | | |spectrum of users. |a wide spectrum of users. | |Relevance |Information may be tailored for |Information may be intended for a |Information may be intended for a | | |the user. Therefore, most |number of users. |number of users. | | |relevant. | | | |Timeliness |Most timely i.e. on-demand report.|Second most timely since need to wait |May not be timely for some decisions | | | |for end of day. |since need to wait for end of month. | |Reliable |Lack of knowledge on right |Feedbacks from a wide range of report |Feedbacks from a wide range of report| | |database items to generate |users reduce error rate. |users reduce error rate. | | |appropriate report e.g. | | | | |recommended retail price versus | | | | |sale price. | | | |Verifiable |Information may not have been |Feedbacks from a wide range of report |Feedbacks from a wide range of report| | |checked for verifiability or |users reduce error rate. |users reduce error rate. | | |accuracy. | | | |Completeness |Least complete – depend on |Average completeness - depend on |Most complete - depend on frequency | |...
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