Describe the view modeling process as applied to creating an REA diagram.

1. Identify the event entities.
2. Identify the resource entities.
3. Identify the agent entities.
4. Determine associations and cardinalities between entities.

Discuss the differences between ER and REA Diagram

-  Entities in an REA diagram, however, are divided into three classes (resources, events, and agents) and organized into constellations by class on the diagram.
-  The sequencing of events; ER diagrams present a static picture of the underlying business phenomena.
- Naming conventions for entities; In ER diagrams, entity names are always represented in the singular noun form.

What is REA Model? How does it differ from traditional accounting systems?

The REA model is an accounting framework for modeling an organization’s critical resources, events, and agents and the relationships between them. Unlike some traditional accounting systems, REA systems permit both accounting and non-accounting data to be identified, captured, and stored in a centralized database. From this repository, user views can be constructed that meet the needs of all users in the organization. REA models may be implemented within either relational or object-oriented database architectures.

Discuss the typical participants in systems developments.

- The participants in systems development can be classified into three broad groups: systems professionals, end users, and stakeholders.

Describe the stages involved in SDLC.

1) system strategy
2) project initiation
3) in-house system development
4) commercial packages
5) Maintenance and support

What is System Development Life Cycle?

Stages that organization go through in order to develop an information system.

Discuss the role of accountant in Information System Planning and Development

1) Identifying Information needs.
2) providing descriptions of information architecture
3) reviewing the development process
4) testing the system