BU486 Chapter Notes - Chapter 1: General Ledger, Transaction Processing, Financial Statement

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6 Feb 2017
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Goal conflict: subsystem is inconsistent with goals of another subsystem. Goal congruence: subsystem achieves it goals while contributing to overall goal. Data: facts that are collected, recorded, stored and processed by information system. Information: data being organized and processed to provide meaning and improve decision making: more information tends to leave to better quality decision making. Information overload: limits are passed and result in decline in decision making when you have retained too much information. Information technology: to help decision makers condense info and filter. Value of information: benefit produced from the information minus the cost to obtain the information: reduced uncertainty. Business process: related, coordinated and structured activities and tasks performed by a person to help accomplish a specific organization goal. Transaction: agreement between two entities to exchange goods or services or any other event that can be measured in economic terms. Starts with capturing transaction data and ends with informational output.

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