Question

In: Accounting

An information system must meet three fundamental objectives. Discuss why these objectives cannot effectively be met by a common set of information.

An information system must meet three fundamental objectives. Discuss why these objectives cannot effectively be met by a common set of information.

Solutions

Expert Solution

Three functions of information systems are

1. To support the stewardship function of management.

2. To support management decision making.

3. To support the firm’s day-to-day operations.

Managers of all areas typically need data from both the ais and the mis. If the data needed by managers for decision-making processes are located in two or more datasets, the preparation of reports is both inefficient and expensive. Further, a lack of coordination between the two datasets can result in data that is not consistent and is unreliable.


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