Winter 2006

• Explain how business processes, transaction cycles, and IT systems (both AIS and MIS) relate to each other.
• Usefully evaluate the value and organizational impact of information systems and specific information technologies.
• Document individual business processes from an AIS perspective.
• Explain how internal controls are implemented in AIS.
• Demonstrate a functional understanding of several key MIS technologies.
• Work productively in a group environment.
• Explain general IT Governance principles, including some key details.

• describe and contrast the scope of MIS and AIS systems, identifying how individual systems, business processes, transaction cycles, and events are situated;
• define the key terms: MIS, AIS, business processes, transaction cycles, events, applications, internal control, assurance services, ERP, and off-the-shelf software;
• list the ways in which an AIS is used; and
• explain AIS roles for accountants.

• list three transaction cycles giving examples of relevant processes and events;
• explain how data is generally organized in a computer including key concepts (entities, fields, records, files, transaction files, master files);
• explain the relationship between master and transaction files, identifying them and giving examples of the kind of data (attributes) each includes;
• identify events in a business process;
• identify reference and summary data as it commonly appears in AIS data and explain why the distinction is important to data processing; and
• explain the difference between recording, updating, and file maintenance activities as they relate to AIS systems.

• list several reasons why process modeling is important in business;
• contrast functional, object, and dynamic models in usefully describing business processes;
• list and describe the kinds of information depicted in a UML activity diagram (sequential flow of activities, responsibilities, documents, and information flow);
• list and describe the key components of UML activity diagrams relating each component to the type of information it depicts (swimlanes, start and end points, branches, events, documents, sequence arrows, information flow arrows, and tables);
• differentiate overview and detailed UML activity diagrams (process decomposition);
• interpret UML activity diagrams; and
• prepare UML activity diagrams.

• list and describe internal control objectives and components within a coherent framework using examples from the COBIT framework;
• differentiate between execution, information systems, asset protection, and performance objectives;
• identify and describe execution and information systems risks associated and processes in the acquisition and revenue cycles;
• identify and describe record and update risks associated with a general ledger system;
• explain how workflow controls can be used to reduce risk; and
• depict or highlight the need for or use of internal controls using business processes narratives and activity diagrams.