Short Answers
- State the different elements of a computer system.
Ans.
The different elements of a computer system are explain below:
- Hardware:- Hardware of computer consists of physical components such as keyboard, mouse, monitor and processor.
- Software:- A set of programmers, which is used to work with such hardware is called its software.
Six type of software –Operating system, Utility programmers, Application software, Language processors, System software, connectivity software.
c. People:- People interacting with the computer are also called live-ware of the computer system.
d. Procedures:- The procedure means a series of operations in a certain order or manner to achieve desired results. Part of computer system: hardware-oriented, software-oriented and internal procedure.
e. Data:- Data refers to information entered into a computer system, such as text, number, and graphics.
f. Connectivity:- The manner in which a particular computer system is connected to other say through telephone lines, microwave transmission, satellite link, etc. is the element of connectivity.
2. List the distinctive advantages of compute system over a manual system.
Ans.
- Speed: Computer systems process information and perform tasks significantly faster than manual systems, which required human intervention and thus take more time.
- Reliability:- Because the functions are based on a variety of programs, the results and their accuracy are extremely trustworthy.
- Data:- Unlike the physical storage space required for paper-based manual records.
- Versatility:- the computer system can multitask, allowing multiple tasks to be completed at the same time.
- Storage:- In contrast to the manual approach, a computer system can store a large amount of data in a little amount of space.
3. Draw block diagram showing the main components of a computer.
Ans.
4. Give three example of a transaction processing system.
Ans.
- Order Processing:- Here orders gets processed to proceed with invoicing, inventory control and account receivables. Orders details are received from emails, phone calls or by manual input.This system is used world wise for online booking for hotels, flights etc.
- Payroll Applications:- Such applications process transactions with the help of online and terminal process. The most common uses of such systems are for payroll preparation or processing employee salary.
- Automated Teller Machine (ATM):- These devices manage high volume transactions using sophisticated technology.
5. State the relationship between information and decision.
Ans. On the one hand, information aids decision-making; on the other hand, decisions are made with the help of derived and extracted data. The following points can be used to demonstrate the importance of information in the decision-making process:
- A company may be made up of several different decision-making units, each with its own set of demands to address to reach the shared organizational goals and objectives.
b. A company must define goals for itself, which necessitates the creation of numerous policies and procedures to achieve those goals.
6. What is Accounting Information System?
Ans. The Accounting Information System is defined as a system that allows for the identification, gathering, processing, summarizing, and production of information about an organization, which can then be used in a variety of ways by users to maintain the organization’s goals and objectives.
As a result, auditors, CFOs, and analysts may be intrigued. The Accounting Information System (AIS) provides the benefit of dealing with enormous volumes of data in a short amount of time while producing the most accurate and effective outcomes. As a result, the Accounting Information System enables organizations and businesses to make effective business decisions.
7. State the various essential features of an accounting report.
Ans. The following are the several fundamental features of an accounting report:
- Timeliness- The information that is made accessible to the organization’s decision-makers for the decision-making process must be made available to them promptly so that they can correctly satisfy their requirements.
- Completeness- The information must be complete, and an incomplete report might lead to ambiguity and uncertainty, which may not benefit the user and instead make his or her task more difficult.
- Relevance- The information presented in report must be relevant and valuable to the user’s needs, making the decision-making process easier.
- Conciseness- The report should be brief and not overly complicated. This complicated the user’s interpretation duty at the end of the day.
- Accuracy- To improve the decision-making process, the report must be accurate and consistent with the user’s requirements.
8. Name three components of a Transaction Processing System.
Ans. Three components of a Transaction Processing System (TPS).
- Input:- This is the initial stage where raw data from source documents is captured and entered into the system. Examples include customer orders, sales invoices, purchase orders, and payment information.
- Processing:- Once inputs are received, the system performs various operations to process the data.
- Output:- After processing, the system generates various documents and reports that provide information to users or other system. Examples include invoices, shipping documents, account statements, or updated inventory levels.
9. Give example of the relationship between a Human Resource Information System and MIS.
The Human Resource Information System and the Management Information System have a direct and interconnected relationship. The Human Resource Information System (HRIS) keeps track of the various records of the company’s employees, such as their salary and other benefits.
On the other hand, the Management Information System aids in the collection, editing, validating, storing, and distributing of data so that various takes can be completed. The Human Resource Information System and the Management Information System collaborate, with the HRIS providing information such as skills, experiences, and qualifications to the MIS, which then uses this data for a variety of purposes to aid decision-making.
Long Answers
- ‘An organization is a collection of interdependent decision-making units that exists to pursue organizational objectives’. In the light of this statement, explain the relationship between information and decision. Also explain the role of Transaction processing system in facilitating the decision-making process in business organizations.
Ans. An organization comprises of different types of units involved in decision making. Every department takes individual decision to achieve the desired shared objectives of organization. An organization needs to draft plans, set common target and devise policies. All such activities are based on the information (data) which is derived from past experience and anticipating future conditions. On the basis of such information an administration assigns resources and works towards achieving targets. Therefore, it can be said that information helps in decision making, and previously taken decision creates a source of information in future.
Transaction processing systems are an important part of business operations. They are involved in processing of transactions of a business. The different processes involved are:
- Editing Data:- Checking the data for the correctness, accuracy
- Collecting data:- The role of TPS is to collect data which may be in the form of manual entry, point of sale machines and scanners.
- Storage of data:- The process of storing of data so that is can be accessed anytime.
- Validation of data:- Verifying data and rectifying errors if detected.
- Manipulating data:- Processing & analyzing of data based on pre-designated design.
- Report generation:- This involves creating reports and presenting data in a designated format which can either be hardcopy or softcopy.
- Query support:- It refers to users of TPS who can raise a query and extract the same data to get meaningful reports.
2. Explain, using examples, the relationship between the organizational MIS and the other functional information system in an organization. Describe how AIS receives and provides information to other functional MIS.
Ans. On the other hand, the Management Information System aids in the collection, editing, validating, storing, and distributing of data so that various takes can be completed. The Human Resource Information System and the Management Information System collaborate, with the HRIS providing information such as skills, experiences, and qualifications to the MIS, which then uses this data for a variety of purposes to aid decision-making.
The Accounting Information System is one of the functional information systems with which the Management Information systems has a functional relationship. The accounting information system and the management information system have a direct and interconnected relationship. The accounting information system aids in information identification, gathering, and processing. As a result, it is a crucial function that also gives information to other subsystems.
3. ‘An accounting report is essential a report which must be able to fulfill certain basic criteria’ Explain? List the various types of accounting reports.
Ans. Data manipulated and processed in a way that is grasped by user without any complexity becomes information. This information is further refined to create report. Content and the report design depends upon the management level in which it gets submitted. Decisions are taken on the basis of the reports prepared. An accounting report must fulfill the following criteria:
- Relevance
- Summarization
- Timeliness
- Accuracy
- Completeness
The types of accounting reports are as follows:
- Summary report:- These are the reports that are capable of providing a summary of many types of organizational activity.
- Responsibility report:- These are the reports that managers prepare to meet the duties of their respective departments.
- Customer report:- Customer reports are reports that provide information to suppliers or customers on a variety of topics.
- Demand report:- A demand report is generated in response to a company’s request and requirements.
- Exception report:- These are reports that are prepared by taking into account some unique exceptions.
4. Describe the various elements of a computer system and explain the distinctive features of a computer system and manual system.
Ans. The various elements of a computer system are explain:
- Software: Software refers to a collection of programs that enable a computer system to carry out the orders supplied to it by the users.
- Users: the people who interact with the computer system are referred to as users.
- Procedures: Procedures are a series of actions that are carried out in a precise order to accomplish the intended results. Hardware oriented processes, software oriented procedures, and internal procedures are the three basic types.
- Hardware: Hardware refers to the different physical components of a computer system, such as the CPU, mouse, monitor, and so on.
- Data:- Date refers to information entered into a computer system, such as text, numbers, and graphics.
- Connectivity: connectivity refers to the computer system’s ability to communicate with other electronic devices. Satellites and telephones, among other things, are used to provide connectivity.
The distinctive feature of a computer system and manual system are explained:
- Accuracy:- When compared to the manual system, which is prone to various types of faults and blunders, the computer system’s operations are more accurate.
- Reliability:- The reliability of a computer system is much higher than that of a manual system because the manual system is prone to numerous restrictions and faults, but the computer system’s findings are much more accurate and effective.
- Storage:- computer system can store far more information and data than manual methods, which are confined to only a few limited items.
- Speed:- computers are far faster than human processes, therefore they can complete jobs in a fractions of the time required by a manual system.
- Versatility:- computer are versatile in the sense that they can execute a wide range of tasks, whereas the manual system can only perform a limited number of joubs.