Asynchronous Activity No.

1 in AIS
Nicole Audrey B. Jacaban BSA - 1

1.
Data are placed in context by information. A list of dates, for instance, is useless
without the information that makes the dates important (dates of holiday).
Information is what results from the processing, interpretation, organization,
structuring, or presentation of data to give them meaning or utility.

2.
Financial transactions include the exchange of money and money withdrawal.
Exchanges of money are a part of every financial transaction. Money can be
obtained from an ATM by entering your information and using your ATM card is
known as a financial transaction. Non-financial transactions include services like
checking the balance, altering the four-digit ATM pin, requesting information on
the mini statement, and reserving a fixed deposit.

3.
Users of information systems can gather, store, organize, and distribute data—tasks
that can be useful for businesses for a number of reasons. Information systems are
used by many firms to manage resources and boost productivity. In order to compete
in international markets, some people rely on information systems.

The design of the accounting information system has been greatly influenced by
4. accountants. They are the professionals most qualified and best equipped to
create the information system. It is commonly accepted that insiders provide
better developmental tools in all aspect of life.

5.
Internal auditors are used to train management and workers on how the
company may operate more efficiently. On the other hand, external auditors are
not subject to these requirements. They are in charge of checking financial
statements for accuracy and compliance with GAAP. Fraud auditors acquire
evidence indicating fraud, which may also result in their serving as an expert
witness during following legal processes. Since the outcome does not involve
rendering an opinion on a client's financial statements, it is more of a
consultancy service than a form of audit.