ITEC 1301 Chapter Notes - Chapter 6: Flexible Manufacturing System, Financial Audit, General Ledger
26 Oct 2016
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Document Summary
Decision making as a component of a problem solving. Decision-making phase (herbert simon) consists of 3 stages. Semi-structured: only some of variables can be measured. Cost of hardware, software, database, networks and internet, personnel, procedures. Integrated collection of people, procedures, databases and devices that provides managers. Management info systems in perspective with info to achieve goals: provide right info to right person in right format at right time, reports, feedback, all levels of management. Characteristics of a mis: reports with fixed formats, hard and soft copy reports, custom reports, functional aspects of the mis. Objective appraisal of the accounting, financial, and operational procedures and info of org. Financial audit: assessment of reliability of financial info and methods used to process it. Operational audit: how well management uses resources. Internal auditing: performed by individuals within the organization. External auditing: performed by outside group: uses and management of funds.
