Read the summary and the most important questions on Accounting Analytics

• Lecture 1

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• What are the most important characteristics of Big Data?

  - Volume: amount of data
  - Velocity (snelheid): due to competition, speed is crucial
  - Variety: different types of data

• What is an Information System?

  An information system is the set of formal procedures by which data are collected, processed into information, and distributed to users. --> input, process, output

• What are the major AIS objectives?

  The major AIS objectives are to support:
  - the stewardship function of management
  - management decision making
  - the firm's day-to-day operations

• Who are the users of Accounting Information System

  - Employees (managers, employees in production, employees in other levels)
  - Auditors
  - Investors
  - Tax authorities

• What are examples of internal users (managerial/strategic)?

  - Departmental managers
  - Financial accountants
  - Management accountants
  - Internal auditors

• What are examples of the MRS output (managerial/strategic)?

  - Budgets
  - Variance reports
  - Performance reports
  - Cost-volume-profit analysis

• What are examples of internal users (operational)?

  - Customer representative
  - Warehouse worker
  - Factory staff
  - Payroll staff

• What are the examples of the MRS output (operational)?

  - Customer buying history
  - Expected inventory list
  - Production schedule
  - Employee records

• What are example of external users?

  - Shareholders
  - Suppliers
  - Potential lenders
  - External auditors
  - Market regulators
  - Government regulators
  - Taxation authorities
  - Other interest groups such as trade unions, employee groups, ...

• What are examples of GL/FRS outputs?

  - Published profit and loss accounts
  - Balance sheet
  - Cash flow statements
  - Tax declaration