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Definition
| Two or more interrelated components that interact to achieve a goal, often composed of subsystems that support the larger system. |
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Definition
| When a subsystem’s goals are inconsistent with the goals of another subsystem or the system as a whole. |
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Definition
| When a subsystem achieves its goals while contributing to the organization’s overall goal. |
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Term
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Definition
| Facts that are collected, recorded, stored, and processed by an information system. |
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Term
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Definition
| Data that have been organized and processed to provide meaning and improve decision making. |
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Term
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Definition
| Exceeding the amount of information a human mind can absorb and process, resulting in a decline in decision-making quality and an increase in the cost of providing information. |
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Term
| Information Technology (IT) |
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Definition
| The computers and other electronic devices used to store, retrieve, transmit, and manipulate data. |
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Term
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Definition
| The benefit provided by information less the cost of producing it |
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Term
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Definition
| A set of related, coordinated, and structured activities and tasks, performed by a person, a computer, or a machine, that help accomplish a specific organizational goal |
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Definition
| An agreement between two entities to exchange goods or services, such as selling inventory in exchange for cash; any other event that can be measured in economic terms by an organization |
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Definition
| Process of capturing transaction data, processing it, storing it for later use, and producing information output, such as a managerial report or a financial statement |
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Definition
| Transactions that happen a great many times, such as giving up cash to get inventory from a supplier and giving employees a paycheck in exchange for their labor |
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Term
| Business processes or transaction cycle |
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Definition
| The major give-get exchanges that occur frequently in most companies |
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Term
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Definition
| Activities associated with selling goods and services in exchange for cash or a future promise to receive cash |
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Term
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Definition
| Activities associated with purchasing inventory for resale or raw materials in exchange for cash or a future promise to pay cash |
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Term
| Production or conversion cycle |
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Definition
| Activities associated with using labor, raw materials, and equipment to produce finished goods |
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Term
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Definition
| Activities associated with hiring, training, compensating, evaluating, promoting, and terminating employees |
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Definition
| Activities associated with raising money by selling shares in the company to investors and borrowing money as well as paying dividends and interest |
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Term
| General Ledger Reporting system |
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Definition
| Information-processing operations involved in updating the general ledger and preparing reports for both management and external parties |
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Term
| Accounting Information System |
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Definition
| A system that collects, records, stores, and processes data to produce information for decision makers. It includes people, procedures and instructions, data, software, information technology infrastructure, and internal controls and security measures |
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Term
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Definition
| The use of data warehouses and complex algorithms to forecast future events, based on historical trends and calculated probabilities |
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Term
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Definition
| Linking together of all the primary and support activities in a business. Value is added as a product passes through the chain. |
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Term
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Definition
| Value chain activities that produce, market, and deliver products and services to customers and provide post-delivery service and support |
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Term
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Definition
| Value chain activities such as firm infrastructure, technology, purchasing, and human resources that enable primary activities to be performed efficiently and effectively |
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Term
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Definition
| An extended system that includes an organization’s value chain as well as its suppliers, distributors, and customers |
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