Chapter 1 Data vs information Cost benefit of information Useful information must be relevant, reliable, complete, timely, understandable, verifiable and accessible. What is a transaction? Business process cycles – Revenue, expenditures, production, Payroll and financing - Figure 1.2 General ledger and reporting system 6 components of AIS People Procedures and instructions Data Software Information technology structure Internal controls and security 3 important business functions…
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