1. List and explain the importance and advantages of Database Systems.
1. Data integration: combining master files into larger pools of data
2. Data Sharing: easier to share data with authorized people.
3. Reporting flexibility: data can be revised easily and generated quickly for search.
4. Minimize data redundancy and data inconsistencies: because data is stored once.
5. Data independence: data and users are independent individuals.
6. Central management of data: database administrator is responsible for coordinating controlling and managing data.
7. Cross-functional analysis.
2. (a) Define the term "DBMS" Languages?
Data definition, data manipulation, and data query languages.
(b) List all the DBMS Languages
1. DDL: data definition language
2. DML: data manipulation language
3. DQL: data query language
(c) Explain each of these languages
DDL: this builds the dictionary, creates the database, describe the logical views for each user, and specify any constraints.
DML: for data maintenance.
DQL: used to interrogate the database in response to queries.
3. List and explain the basic requirements of a Relation Database.
1. Every column in a row must be single valued.
2. Primary keys cannot be null
3. Foreign keys if not null must have values that correspond to the value of a primary key in another table.
4. All none key attributes in a table should describe a characteristic about the object identified by the primary key.
4. List and explain the basic approaches to Database Design.
1. Normalization: start with assumption that everything is initially stored in one large table, decompose the initial table into a set of normalized tables then produce a set of tables called third normal form.
2. Semantic Data Modeling: database designer uses knowledge about how business processes typically work and about the information needs associated with transaction processing to draw a graphical picture of what should be included in the database. The resulting figure can then be directly used to create a set of relational tables that are in third normal form.
5. List and explain the basic steps in Database Design Process.
1. System Analysis
2. Conceptual Design
3. Physical Design
4. Implementation & Conversion
5. Operation & Maintenance
6. Explain what is meant by Entity-Relation Diagram?
It's a graphical portrayal of a data scheme. It is a graphical model of an organizations business process; it documents the processes and re-engineers the process. An entity is anything the organization wants to collect and store information about.
7. List and explain the basic entities of the REA Data Model.
1. Resources: what the organization acquires and uses
2. Events: the activities the organization is engaged in
3. Agents: people and organizations participating in the events
8. List and explain the basic steps in the development of an REA Diagram.
Step1: identify relevant events that of interest to the management.
Step2: identify the resources that are affected by those events.
Step3: determine cardinalities of relationships.
9. List and explain the basic types of relationships involved in an REA Diagram.
One to one: this is when the maximum cardinality for each entity is one.
One to many: this is when the maximum cardinality of one is one, and the maximum for the other is many.
Many to many: when the maximum cardinality for both entities is many.
10. Write a logical flow of activities in each REA Diagrams.
These diagrams are showing the revenue, expenditure, and payroll cycles. These separate diagrams should be integrated to provide a single comprehensive enterprise- wide model of the organization.
11. What are the goals of ERM framework?
- Provide reasonable assurance that company objectives and goals are achieved and problems and surprises are minimized.
- Achieve its financial and performance targets.
- Assess risks continuously and identify steps to take and resources to allocate to overcome or mitigate risk.
- Avoid adverse publicity and damage to the entity's reputation.
12 How did ERM define risk management?
- A process affected by an entity's board of directors, management, and other personnel.
- Applied in strategy setting and across the enterprise.
- To identify potential events that may affect the entity.
- And manage risk to be within its risk appetite.
- In order to provide reasonable assurance of the achievement of entity objectives.
13. What are the principles behind EMR?
- Companies are formed to create value for owners.
- Management must decide how much uncertainty they will accept.
- Uncertainty can result in:
• Risk
• Opportunity
14. List the objectives EMR can help a company to achieve.
a) Strategic objectives.
b) Operations objectives.
c) Reporting objectives.
d) Compliance objectives.
15 List the risk and control component EMR is good for.
a) Internal environment.
b) Objective setting.
c) Event identification.
d) Risk response.
e) Risk assessment.
f) Control activities.
g) Information and communication.
h) Monitoring.
16 What is meant by XBRL?
• Extensible Business Reporting Language (XBRL)
- A variant of XML designed specifically to communicate the contents of financial data.
- Creates tags for each data item much like HTML tags.
• Tag names specify line items in financial statements.
• Other fields in the tag provide information such as the year, units of measure, etc.
17 What are the benefits of XBRL?
• XBRL provides two major benefits:
- Organizations can publish their financial statements on time in a format that anyone can use.
- Recipients will no longer need to manually re-enter data they acquired electronically so that decision support tools can analyze them.
• Means search for data on the Internet will be more efficient and accurate.