CA FINAL ISCA CLASSES: Chapter-2 Information Systems Concepts (FULL)

Learn ISCA subject easily 

CA FINAL ISCA
Chapter-2 Information Systems Concepts
Memory Technique




Introduction of the Chapter:

An understanding of the effectual and accountable use as well as management of information systems\technologies is important for managers, business professionals, and other knowledge workers in today's inter-networked enterprises. Auditors in their role as reviewers of controls have to understand the key concepts and practice of information systems. Information system supports an organization's business processes and operations, business decision-making and strategic competitive advantage. There are various types of information systems available for use by an organization business to achieve operational excellence, develop new products and services, and promote competitive advantages. Examples of information systems are: Management Information System, Decision Support System, Knowledge Management System 


Topics covered so far:

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CHAPTER Sr no. # TOPICS
CHAPTER 2 2.2 Attributes of Information



Topic numbers will be from Module

# 2.2 Information
      Attributes of Information

Some of the important attributes of useful and effective information are given as follows:

Availability - It is a very important aspect of information. Information is useless if it is not available at the time of need.

Purpose/Objective - Information must have purposes/objective at the time it is transmitted to a person or machine, otherwise it is simple data.

Mode and format - The modes of communicating information to humans should be in such a way that it can be easily understandable by the people. The mode may be in the form of voice, text and combination of these two.

Current/Updated - The information should be refreshed from time to time as it usually rots with time and usage.

Rate - The rate of transmission\reception of information may be represented by the time required to understand a particular situation.

Frequency - The frequency with which information is transmitted or received affects its value.

Completeness and Adequacy - The information provided should be complete and adequate in itself because only complete information can be used in policymaking.


Reliability - It is a measure of failure or success of using information for decision- making. If the information leads to correct decision on many occasions, we say the information is reliable.

Validity - It measures how close the information is to the purpose for which it asserts to serve. For example, the experience of employee supports in evaluating his performance.

Quality - It means the correctness of information.

Transparency - It is essential in decision and policy making. For example, the total amount of advance does not give a true picture of utilization of fund for a decision about the future course of action; rather deposit-advance ratio is perhaps more transparent information in this matter.

Value of Information - It is defined as the difference between the value of the change in decision behavior caused by the information and the cost of the information.

Now to remember this topic easily we will take the help of Mnemonics


Mnemonics link: Exam ke Schedule vala 

Story:

हमारा Current Purpose है CA बनना  
उसके लिए हमे Mode & Format बनाना पड़ता है पढ़ाई का  
उसे हमे Adequacy से Complete करना होता है  
भगवान पे Reliability रखो उनकी Availability होगी  
सब काम Transparency से होंगे  
CA बन जाओगे तो तुम्हारे मे Quality आ जाएगी  
तुम्हारे Sign की Validilty होगी  
CA बनने के बाद जो Information दोगे उसकी Value होगी  
जिसके लिए तुम Rate (रुपए) लोगे  
ये सब काम Frequently भी होंगे 

Video Class to explain this further:



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1 comments

  1. Please upload mnemonics for rest of the parts of chp2 as well

    ReplyDelete