ACF 341 FINANCIAL INFORMATION SYSTEM

Instructors : Office Hours: Saqib Ali / Irfan Umar Faruqui Monday and Wednesday 3.30 pm to 5.10 pm and at other times by appointment. Email saqib.ali@lums.edu.pk To provide students with a good overview of accounting information systems and the rapidly-growing area of information systems consulting. Students will develop an understanding of the principal characteristics and functions of accounting information systems and gain an appreciation of the internal controls that should be in place, network security issues and database design considerations. Course participants will receive an introduction to Oracle Applications, one of the leading enterprise resource planning (ERP) software system used by large companies around the world. Some aspects of electronic business, particularly accounting also will be examined. Understand the basic characteristics and components of accounting information systems Examine the key business transaction cycles and the various operations and controls required to process information. Understand the internal controls needed to ensure accuracy and integrity in information processing. Examine the different diagrams (data flow diagrams & systems flowcharts) and other types of essential documentation used to document the structure of information system and information flow in them. Learn about the structure of enterprise systems and the benefits and risks associated with implementing them. Understand the benefits and risks associated with database management systems and how they are developed. Survey some of the key issues involved in analyzing a clients information system needs and the process of designing a new or upgraded information system to meet the organizations current and anticipated future business

Course Introduction:

Learning Objectives:

needs. Required Materials Accounting Information Systems, Sixth Edition, Gelinas Sutton and Hunton Acquiring, Developing & Implementing Accounting Information Systems, Sixth Edition, Gelinas Sutton and Hunton Grading: Mid Term Exam Final Exam Class Participation Project Quizzes 20 % 35 % 10% 20% 15%

100%

Class participation: Grading will be determined based on the students participation in the class and it is therefore required that the students study the relevant chapter before coming to class. Quizzes: There will be 6 quizzes that will be held at regular intervals. Mid Term/Final Exams will consist of multiple choice questions, short answer questions and essays, flowcharts and short problems. Project: Students will be required to work in groups for the project. The size and composition of these groups will be determined as the quarter progresses.

Course Overview Session wise breakup of contents coverage Session 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 Topics to be covered Overview & Introduction to Information Systems Enterprise Systems E-Business Systems Documenting Information Systems Documenting Information Systems (Contd) Database Management Systems Relational Databases and SQL Controlling Information Systems Controlling Information Systems (Contd) Controlling Information Systems (Contd) Mid Term Exam Sales/Collections Business Process (Order Entry and Sales) Chapter 10 Relevant Chapters in the Text Book Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9

Sales/Collections Business Process (Billing/ Chapter 11 Accounts Receivable/Cash Receipts) Purchasing Process Purchasing Process (Accounts Payables/ Cash Disbursements process) General Ledger and Business Reporting Process Systems Selection and Design / System Implementation and Operation Chapter 12 Chapter 13 Chapter 16

Session 18 19 20

Topics to be covered Overview of Oracle Applications Project Presentations Project Presentations (Contd) Final Exam

Relevant Chapters in the Text Book

Class Rules and Recommendations

RULE ONE: The first rule in this class is that when I or anyone else is speaking you do not speak. That is rude, unacceptable behavior. Raise your hand to ask questions or make comments; but if you start whispering to your neighbor, I'll tell you off real fast. RULE TWO: I realize it is a pain but I do expect you to be here on time. If you walk in after we have started (even just a minute or two late), you are a distraction to other people. I expect professional behavior and professional behavior means being on time for meetings. RULE THREE: Unless you have really got a problem, I don't expect for you to get up and stroll out of the room until class is over. If it is not an emergency, stay in your seat. RULE FOUR: I want you to be prepared when you walk into class each day. You are wasting your time and someones money if you walk into class without being prepared to learn. I will do my part to help you learn but you have to do your part and your part is putting in some hours of preparation for each class. You are adults; it is time for you to realize that preparation is the key to success. As a famous football coach (Joe Paterno) has said, "if you have the will to prepare, the will to win will take care of itself. EXTRA HELP: Please know that I will be glad to give you any extra help during the quarter that you may need. If you find that you are having difficulty, please see me immediately. It is always easier if you have specific questions. I have trouble answering the query: can you explain chapter 3 to me? However, I find it much easier to answer questions such as "where did the numbers come from on page 18?" or "why didn't the accountant add in the extra cost in this problem?" Thus, keep a pad and whenever you have questions jot them down. Whenever you read a chapter or work a problem or go through your notes, jot down your questions. Think about them and, if you can't figure them out, bring them by my office. I am always glad to talk with you. RECOMMENDATIONS: I've seen students try to do it every way possible and I've seen what works and what doesn't. Based on that experience, it seems to me that - if you truly want to learn the material and get a decent grade - there are few things you can do to improve the odds. - One strong suggestion would be to take the class seriously from Day One. If you get behind, it always makes catching up tough. Thats like running the 100 yard dash and giving your competition a 40 yard headstart. - Be consistently strong. If you are well prepared one day but weak the next, you wind up with holes in your knowledge and that leads to a bad grade. If students have one general weakness, it is the tendency to try hard on an irregular basis and then wonder why they dont do well. - Get excited about learning. If learning is not exciting to you, then you should change courses or get out of school. Making your mind better should be great fun - an experience that you cherish. It's the only brain you've got and it has to carry you through life - fill it up and it will serve you well.

- Plan to spend 2 hours of study every day. I don't mean 6 hours on Monday night or 12 hours every other Wednesday; I mean about 2 legitimate hours every day. When student do poorly in this class, it is almost always caused by a failure to put in the time on a consistent basis. I wish there was a magic pill that I could give you that would allow you to learn a lot without doing any work but I've just never found that magic pill. There are no steroids for the brain there is only hard work. - Being prepared prior to class each day is the best method to gain understanding of the material. Too many students try to take an enormous quantity of notes and then cram that knowledge into their brain on the night before the test. Big mistake in this class. I realize that you may have gotten through high school without learning how to study; however, as you get ready to enter the adult world, it is time to become an efficient learner. I cannot overemphasize that being prepared when you walk into the room every day is your most important step in getting a good grade. It just enables you to understand and absorb what we cover. - Read each chapter. Read one page at a time and write down (in one or two sentences) the basic idea of that page. For the illustrations, be sure to walk through the numbers and see where each one comes from. That takes time but time is just going to be necessary. If you don't understand something clearly at first, don't assume that (a) you are stupid or (b) it is stupid. Work to figure it out. If it were easy, we wouldn't cover it in business school. In all honesty, the figuring it out part is all the fun. - The attitude that you bring to this class (or that you bring to life, for that matter) is a truly important ingredient in your success. Play a mental game with yourself. Don't start out assuming that the class will be a pain or that you will do poorly. Instead, assume that you are really looking forward to adding this knowledge to your brain and that you are going to do the work and actually enjoy the learning and that because you do the work, you are going to make an A. Much of success and happiness is just getting into the right mindset. - Never miss class. I make sure each class covers what I want (and expect) you to learn. Missing class is like losing the road map. - Come by my office early and often and ask questions (or send me an e-mail). I can frequently resolve your problems or confusions in just a few seconds where you may waste hours trying to figure out a problem for yourself. Make good use of my office hours - I am there for your benefit. Even if I seem busy, I do not mind working with you at all. One of the things I have noted: the A and B students come by often whereas the D and F students come by hardly at all (wouldnt you expect it to be the other way around?)

- Realize that I do want you to do well. I want you to learn the material so that you can go out in the real world and compete with the sharks. Thus, if I beat on you, it is only because I want you to work hard and learn something of value. - Don't build up excuses: "I'm not good at numbers." "I don't do well in hard classes." "I don't understand business." You are simply giving yourself permission to get a poor grade. Once

you have permission, it becomes acceptable to you. I don't know of any talent or skill (other than hard work) that is really necessary for this class. - Don't assume that because you have a certain average in school, you will maintain that in this class. Some students who have high GPAs just assume that they will get a good grade in this course. Likewise some students believe, because they have low GPAs, that they are destined for C's. If you put in the energy, you can get an A but not otherwise. The most important thing you bring to this class is NOT your intelligence. It is NOT your GPA. It is NOT your high school background or how rich or poor your family is. The most important thing you bring to this class is the discipline to put in the time that is necessary on a consistent basis in order to get a good grade. If you have the discipline needed to do the work on a daily basis, then I fully expect you to get good grade.