Marketing Essentials 12.10

Data is

• raw unorganised facts, figures and symbols.

• raw organised facts, figures and symbols.

• manipulated facts, figures and symbols.

information management strategies are important because:

• they can improve business processes, regulate staff turnover, help make decisions as well as manage data storage and disposal as well as user access.

• they can improve business processes, regulate document management and help make decisions.

• they can improve business processes, regulate document management, help make decisions as well as manage data storage and disposal as well as user access.

Advantages of having effective information management strategies include:

• it allows for organisations to collect large amounts of data about their customers.

• Can be time consuming and costly to implement.

• Legal obligations and legislations must be factored into documentation or a business may risk their reputation.

Information is

• data that has not been manipulated into meaningful and useful forms with context.

• data that has been manipulated into forms with context.

• data that has been manipulated into meaningful and useful forms with context.

How information systems are transforming business

• Growth in cloud computing

• Growing business use of “big data”

• Emerging mobile digital platform

• Increases in foreign trade, outsourcing

Without accurate information ?

• Overproduction, underproduction

• Misallocation of resources

• Poor response times

• lose customers

Which of the following are not objectives of auditing?

• Ascertain the profit and preparation of P/L Account, Balance sheet

• Detection and prevention of frauds and errors.

• Give a true and fair view of financial amount

• To submits the accounts to the Government

The value of all assets minus the value of all liabilities.

• Financial obligations

• Assets

• Net Worth

• Property

Zero net worth is defined as:

• Assets are greater than liabilities

• Assets are less than liabilities

• Assets are equal to liabilities

• None of the above

The area of accounting which focuses on reporting information to internal users.

• Financial Accounting

• Managerial Accounting

• Payroll Accounting

• Accounts Payable Accounting