Académique Documents
Professionnel Documents
Culture Documents
Availability:
Information should be available. If information is not available at the time of need, it
is useless.
Purpose:
Information must have purposes at the time it is transmitted to a person or
machine, otherwise it is simple date.
Mode and format:
The mode of communicating information in business are either visual, verbal and in
written form.
Format of information should be so designed that is assists in decision making and
problem solving.
Decay:
Value of information usually decays with time so it should be refreshed from time to
time.
Completeness:
The information should be as complete as possible.
Reliability:
Information should leads to correct decision-making on many occasions.
Frequency:
The frequency with which information is transmitted or received affects its value.
Costs benefit analysis:
The benefit that is derived from the information must justify the cost incurred in
procuring information.
Validity:
It measures the closeness of the information to the purpose which it purports to
serve.
Transparency:
Information should reveal directly what we want to know for decision making.
8. What is an organization? How do organizations differ?
An organization is a social arrangement for the controlled performance of collective
goals, which has a boundary separating it from its environment.
Organization may differ by the following ways:
Ownership (public or private).
Control (by owner or govt.)
Activity (manufacturing, healthcare or service)
Profit seeking or not for profit seeking.
Size (local or multinational).
Legal status (company, partnership or sole trader)
Source of finance (borrowing, govt. Funding or share issues).
2 | Page
12.
What is a DSS? (Nov2011)
A decision support system can be defined as a system that provides tools to
managers to assist them in solving semi structured and un-structured problem. DSS
provides managers with a set of capabilities that enables them to generate the
information required by them in making decisions.
3 | Page
13.
Three
14.
15.
What is TPS? What activities are involved in TPS?
TPS is an information system at the lower level of management that manipulates
data from business transactions. i.e sales, purchase, production, delivery, payments
or received.
A TPS
16.
What is MIS?
MIS assists managers in decision making and problem solving.
An integrated user-machine system designed for providing information to support
operational control, management control and decision making functions in an
organization.
17.
What is EIS?
Sometimes referred to ESS (executive Support System) is a DSS that is designed to
meet the special needs of top level managers.
18.
What is Knowledge-based system? (Nov2011)
Knowledge based systems are artificial intelligent tools that provide intelligent
decisions with justification. Knowledge is acquired and represented using various
knowledge representation techniques rules, frames and scripts. The basic
advantages offered by such system are documentation of knowledge, intelligent
decision support, self learning, reasoning and explanation.
4 | Page
19.
What are the types of KBS? (Nov2011)
There are three different types of KBS. Those are as follows:
Diagnostic:
The user interface gives a series of questions, each of which has a limited
number of possible answers, each one of which leads to another question.
Gradually, the amount of data in the knowledge base is reduced until there is
only a small amount of relevant data which must provide the answer to the
query.
Advice Giving:
An advice giving system is one that follows some process being done and
then offers advice on how to proceed if something needs to be done or goes
wrong.
Decision making:
It is a system which understands what is happening in a system and has been
given enough rules to be able to make and carry out decisions without further
intervention.
20.
Types of information
Internal information:
Information that has been generated from the operations of the
organizations at various functional areas.
External information:
Information that is collected from the external environment of the
business organization.
21.
What is the different between the passive IS and interactive IS?
(Nov2010)
Passive information systems are systems that will answer queries based on the data
that is held within them, but the data is not altered. A simple example would be an
electronic encyclopedia where queries can be used to search for data and much
valuable information can be learned but the user is not allowed to alter the data.
An interactive system is one that data can be entered for processing which may
alter the contents of the database. For examples, stock control system of a super
market which shows price and description of the goods as well as updates the
number in stock immediately.
22.
What is Batch processing?
A batch processing system is used when the output does not have to be produced
immediately. For example, credit card bill.
23.
What is rapid response processing?
Rapid response processing also known as real time processing referred to a process
control system where the results of the process are used to inform the next input.
i.e,
5 | Page
25.
Write the functions of financial reporting?
The functions performed by financial reporting specialists cover the following areas:
Undertaking the monthly closure of accounts.
Compiling quarterly reports.
Undertaking the annual closure of accounts
Compiling overall annual reports.
26.
What is objective of any financial accounting system?
A primary objective of any financial accounting systems is to provide accurate
financial statements on a timely basis.
27.
What is Pivot Table? (Nov2011)
Pivot Table is one of the most powerful analytical tools that are used in
spreadsheets.
28.
Discuss the terms Evert Triggered.
Many accounting software products have the ability to alter users to predefined
financial condition. With such a feature, a CFO can create simple calculation that the
accounting software continuously compares against a present values.
29.
Write something about the International Financial Reporting
Standards (IFRSs).
IFRSs are standards, interpretations and the framework adopted by the International
Accounting Standards Board (IASB).
30.
Discuss the structure of IFRS.
International Financial Reporting Standards comprise:
IFRSs- issued after 1 April 2001.
IASs- issued before 1 April 2001.
Interpretation originated from the IFRIC (International Financial Reporting
Interpretation Committee)- issued after 1 April 2001.
Standing Interpretation Committee (SIC)- issued before 1 April 2001.
Framework for the preparation and presentation of financial statement.
31.
Write the qualitative characteristics of financial statement?
Qualitative characteristics of financial statements include:
Relevance.
Reliability.
Understandability. And
6 | Page
32.
IFRS
Comparability.
7 | Page