.......................3 2. Definition of Information Systems...........................................................3 3. Information System as an Organizational and Management Solution.........3 4. Information Manager and Information System..........................................4 5. Environmental and Industrial Analysis.....................................................4 6. Recommended Information Systems for a Medium Sized Accountancy and Management Consultancy Firm........................................................5 6.1. Management Information System.............................................................5 6.2. Decision Support System..........................................................................6 6.3. Knowledge Management System..............................................................6 6.4. Transaction Support System.....................................................................6 6. Evaluation of Organizational, Technical and Management Aspects of the Information Systems Used........................................................................6 7. Successful Implementation of Information Systems...................................7 8. Security Threats Faced By The Consultancy Firm......................................8 9. Recommendations to Control Security Threats Faced By The Consultancy...
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...Information on Controls Shelise Stevens ACC542 Christy Countryman August 20, 2012 Information on Controls Internal controls are imperative to the success of a company. It is important for Kudler Fine Foods to assess their risks, analyze them, and come up with internal controls and keep them underway. The management of Kudler Fine Foods has reviewed the flowcharts and is requesting information on the controls. The risks involved may hinder the development and work that Kudler Fine Foods does and should be assessed and assigned internal controls to reduce the negative possibilities that associate with the risks. This brief will discuss and analyze the risks from the Accounting Information Systems, identify the risks and controls issued from the flowcharts, design controls to mitigate the risks, evaluate the application of internal control, and discuss other controls. Risks of AIS Team D suggested purchasing industry specific software. Industry specific software is software that comes with a pre-cut software for companies to use that has already been tweaked and fixed malfunctions (Visco, 2005). When Kudler Fine Foods purchases industry specific software they are getting the software that the company and employees can mold to benefit the company (Visco, 2005). However, with every system comes a risk. Kudler Fine Foods is chancing purchasing software that will not fit the companies every need by purchasing pre-made software. Accounting Information Systems contain risks...
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...Process of Accounting Information Systems Learning Team E ACC542 July 20, 2015 Dwayne Thompson Automated Process of Accounting Information Systems An effective and reliable internal control process in place is integral to business success. Kudler Fine Foods have a well-designed accounting process, however, these systems are not integrated. In order to create efficiency and maximize profits, Kudler must streamline processes and integrate the important functions. The following paper looks at four of the critical processes, payroll, inventory, accounts receivable and accounts payable that capture the core activities for the business. Furthermore, the paper documents the rationale on why Kudler would benefit from an industry specific software to improve automation of these processes. Industry-Specific Software An industry specific software will protect critical business data through well-defined roles and security access and help plan work based on existing orders and future forecasts. An industry specific software, preferably an Enterprise Resource Planning (ERP) system would be the best option for Kudler to implement. The ERP system will provide tools to the business to increasecustomer satisfaction and better equip Kathy with information to help in decision making. An ERP system will automate business process, which will create efficiency and avoid additional expenses to increase overall performance, (Syspro, 2015). An industry specific software allows customization...
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...| Risk and Control Analysis: | ExxonMobil Corporation | | Yuying Yang | 2012/12/8 | Introduction The following report is an overview of the risk and control analysis of ExxonMobil Corporation. Research on the topic has been carried out based on the comprehensive analysis of the whole corporation, including the upstream, downstream and chemical business. The report will cover some key aspects including: Background, mission, objectives and strategies of the company Risks including both industry and business risks that the company faces Specific area of risks and controls Background, mission, objectives and strategies ExxonMobil Corporation is world’s leading petroleum and petrochemical company which is formed in 1999 by the merger of two major oil companies Exxon and Mobil. As the world's largest company by revenue and one of the largest publicly traded companies by market capitalization in the world (Wikipedia, 2012), ExxonMobil has many world spread operating businesses, such as upstream which includes oil exploration, extraction, shipping and wholesale operations, downstream which includes marketing, refining, and retail operations and chemical division. In 2012, with rapid growth, ExxonMobil becomes number 1 in Forbes Global 2000 list. * Mission Exxon Mobil Corporation is committed to being the world's premier petroleum and petrochemical company (ExxonMobil, 2006). To accomplish this mission, not only the financial and operating objectives must be...
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...updated to align with the concepts and terminology of recent regulatory and industry developments. These regulatory and industry developments focus attention on patient safety, product quality, and data integrity. This is a key driver for GAMP 5. Coupled to this there is the need to: • • • • • Avoid duplication of activities (e.g., by fully integrating engineering and computer system activities so that they are only performed once) Leverage supplier activities to the maximum possible extent, while still ensuring fitness for intended use Scale all life cycle activities and associated documentation according to risk, complexity, and novelty Recognize that most computerized systems are now based on configurable packages, many of them networked Acknowledge that traditional linear or waterfall development models are not the most appropriate in all cases © Copyright ISPE 2008. All rights reserved. Page 1 of 10 2 Overview of GAMP Documentation Structure The GAMP Guide forms part of a family of documents that together provide a powerful and comprehensive body of knowledge covering all aspects of computerized systems good practice and compliance. This Guide comprises a Main Body and a set of supporting Appendices. The Main Body provides principles and a life cycle framework applicable to all GxP regulated computerized systems. Practical guidance on a wide range of specific topics such as...
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...Your Committee Committee Your Company Important Disclaimer: The Aerospace Industries Association of America, Inc. (“AIA”) has no intellectual property or other interest in this Aerospace Industry Guideline for Developing a Security Plan for Unclassified Data. By developing this Aerospace Industry Guideline for Developing a Security Plan for Unclassified Data Plan and making it freely available to anyone, AIA assumes no responsibility for this Guideline’s content or use, and disclaims any potential liability associated therewith. Executive Overview From time to time an AIA member company may be requested to provide the DOD, a prime contractor or an industry partner an Information Technology Security Plan for unclassified data. This security plan could be required at the enterprise, program or application level depending on the unique requirements of the request. This request might be challenging for those members that have never been required to provide such a document. This “Aerospace Industry Guideline for Developing a Security Plan for Unclassified Data” provides a template and guidance to assist member companies in the development of a security plan to meet their customers or partners needs. Please keep in mind that this document is provided as a guideline and not a mandatory standard. AII member companies are encouraged to use this guideline. Use of this industry-wide best practice will provide the following benefits: 1. Simplify development...
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...Overview of the Chapter This chapter examines the nature of organizational control and describes the four steps of the control process. It also discusses three types of systems available to managers to control and influence organizational members: output control, behavior control, and organizational culture(clan control). Effective management of organizational change is addressed, as well as the role of the entrepreneur in the change process. LEARNING OBJECTIVES • Define organizational control and identify the main output and behavior controls managers use to coordinate and motivate employees. (LO1) • Explain the role of clan control or organizational culture in creating an effective organizational architecture. (LO2) • Discuss the relationship between organizational control and change and explain why managing change is a vital management task. (LO3) • Understand the role of entrepreneurship in the control and change process. (LO4) MANAGEMENT SNAPSHOT: CONTROL IS NO LONGER A PROBLEM FOR ORACLE One of the main advantages of Internet-based control software is its ability to centralize management of a company’s widespread operations, thereby allowing managers to easily compare and contrast the performance of different divisions spread around the globe in real time. Oracle, the second largest independent software company in the world after Microsoft, did not have such a system in place and therefore was not experiencing the cost savings that could...
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...TOTAL QUALITY MANAGEMENT - THE TIME HAS COME FOR METALLURGICAL PLANTS ABSTRACT The principles of quality management are well developed and, from a practical standpoint, thoroughly implemented in the process industries of Japan. Although these principles are now applied to the U.S. manufacturing industry, and as a result, the steel industry, they have been largely ignored in the non-ferrous and precious metals industries. This paper presents the concepts and practical approaches to implement a total quality management program. Contrary to the beliefs of many managers, such a program increase yields, recoveries and output while it decreases unit costs. In fact, quality management incorporating statistical process control will be an essential ingredient for metallurgical plants to effectively compete in the future. Unfortunately, the influence of quality management concepts has not been felt in most American companies in the base metals and precious metals industries. A large majority of senior management personnel in these industries is unfamiliar with essential quality management concepts such as statistical process control (SPC). Based on the thrashing American manufactured products have taken in world markets, one must expect that products from the chemical and metals process industries will be next unless the change to "Total Quality Management" is made soon. INTRODUCTION As noted by Deming (1982), in 1950 Japan’s net worth was negative, it had no significant...
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...Chapter 1—Auditing and Internal Control TRUE/FALSE 1. Corporate management (including the CEO) must certify monthly and annually their organization’s internal controls over financial reporting. ANS: F PTS: 1 2. Both the SEC and the PCAOB require management to use the COBIT framework for assessing internal control adequacy. ANS: F PTS: 1 3. Both the SEC and the PCAOB require management to use the COSO framework for assessing internal control adequacy. ANS: F PTS: 1 4. A qualified opinion on management’s assessment of internal controls over the financial reporting system necessitates a qualified opinion on the financial statements? ANS: F PTS: 1 5. The same internal control objectives apply to manual and computer-based information systems. ANS: T PTS: 1 6. The external auditor is responsible for establishing and maintaining the internal control system. ANS: F PTS: 1 7. Segregation of duties is an example of an internal control procedure. ANS: T PTS: 1 8. Preventive controls are passive techniques designed to reduce fraud. ANS: T PTS: 1 9. The Sarbanes-Oxley Act requires only that a firm keep good records. ANS: F PTS: 1 10. A key modifying assumption in internal control is that the internal control system is the responsibility of management. ANS: T PTS: 1 11. While the Sarbanes-Oxley Act prohibits auditors from providing non-accounting services to their audit clients, they are not prohibited from performing such services for non-audit clients...
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...TOTAL QUALITY MANAGEMENT - THE TIME HAS COME FOR METALLURGICAL PLANTS by Mr. Stephen R. Brown President Performance Associates International, Inc. ABSTRACT The principles of quality management are well developed and, from a practical standpoint, thoroughly implemented in the process industries of Japan. Although these principles are now applied to the U.S. manufacturing industry, and as a result, the steel industry, they have been largely ignored in the nonferrous and precious metals industries. This paper presents the concepts and practical approaches to implement a total quality management program. Contrary to the beliefs of many managers, such a program increase yields, recoveries and output while it decreases unit costs. In fact, quality management incorporating statistical process control will be an essential ingredient for metallurgical plants to effectively compete in the future. INTRODUCTION As noted by Deming (1982), in 1950 Japan’s net worth was negative, it had no significant natural resources and had a reputation for producing cheap, shoddy consumer goods. Their management, however, was open to new ideas and they accepted that quality was the only way to turn their economy around. Forty years later Japan’s manufactured products are the envy of the world and are of the highest quality. Their approach to management of resources is completely different from the traditional American approach. Total quality management, having been established in the manufacturing...
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...HAZARD ANALYSIS AND CRITICAL CONTROL POINT (HACCP) SYSTEM AND GUIDELINES FOR ITS APPLICATION Annex to CAC/RCP 1-1969 (Rev. 4 - 2003) PREAMBLE The first section of this document sets out the principles of the Hazard Analysis and Critical Control Point (HACCP) system adopted by the Codex Alimentarius Commission. The second section provides general guidance for the application of the system while recognizing that the details of application may vary depending on the circumstances of the food operation.2 The HACCP system, which is science based and systematic, identifies specific hazards and measures for their control to ensure the safety of food. HACCP is a tool to assess hazards and establish control systems that focus on prevention rather than relying mainly on end-product testing. Any HACCP system is capable of accommodating change, such as advances in equipment design, processing procedures or technological developments. HACCP can be applied throughout the food chain from primary production to final consumption and its implementation should be guided by scientific evidence of risks to human health. As well as enhancing food safety, implementation of HACCP can provide other significant benefits. In addition, the application of HACCP systems can aid inspection by regulatory authorities and promote international trade by increasing confidence in food safety. The successful application of HACCP requires the full commitment and involvement of management and the work force. It also...
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...process of Hartman Industries. We will also learn about what the organization should do in order to improve its business processes with the help of quality management system. The paper will also tell what quality management system the organization should implement. We will also learn about the manufacturing process of Hartman Industries while discovering how the organization can benefit from application of our chosen recommendations. Quality Management System Quality management system process is a method by which an organization can easily improve its processes. It is a part of quality management system and is a business excellence process. This process will be very useful in improving processes of Hartman Industries. Hartman Industries are the leader of plastic injection molding industry. It specializes in creating innovative plastic designs and has earned international acclaim for these designs. The attributes which give competitive edge to this organization are attention to detail, good quality control standards and precision in work. If quality management system processes are applied to this organization then the organization can further improve its processes (Gitlow, 2001). The organization has incorporated the use of best practices and components in its manufacturing system. It uses high quality of polymer in manufacturing; it has a well maintained R&D department which helps it in maintaining its top position in the plastic injection molding industry. Although it is...
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...Nicholas Lawrence Event & Facility Management Ch. 9 case study Mrs. Etzkorn CMMS is an abbreviated term for computerized maintenance management systems and are a type of management software program that perform functions in support of the operations and maintenance (O&M) programs. The software automates and streamlines most of the logistical functions done by O&M staff (U.S. Department of Energy). “Typical CMMS functions depend on the complexity of the system chosen. Examples include: * Work order generation, prioritization, and tracking by equipment and/or component. Work orders often can be sorted by equipment, date, person responding, etc. * Tracking scheduled and unscheduled maintenance activities. * Storing technical documentation and maintenance procedures by component, as well as equipment warranty information. * Real-time reports of ongoing work activity. * Calendar- or run-time-based preventive maintenance work order generation. * Capital and labor cost tracking by component, as well as shortest, median, and longest times to close a work order by component. * Complete parts and materials inventory control with automated reorder capability” (U.S. Department of Energy). The best CMMS benefit is that it eliminates paperwork and manual tracking of activities and saves time and allows the staff to remain productive. Computerized maintenance management system would allow the school to detect problems before a failure occurs, resulting...
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...Steve Powelson May 06, 2012 Managerial Issues Managing an IS infrastructure can be a difficult task. The difficulties arise based on the type of business, preventative measures, industry standards, training, and globalization. Each of these areas needs special attention and if not managed correctly could be costly to the business. The following will illustrate the above mentioned difficulties and provide insight into how these areas can be maintained. Configuration Management and Maintenance “Configuration management is a collection of processes and tools that promote network consistency, track network change, and provide up to date network documentation and visibility.” (Cisco, 2006, p. 1) Configuration can either help or hinder a system. Cisco offers a white paper that specifically outlines best practices for configuration management. The paper outlines the following: “Software Version Control Management, IP Addressing Standards and Management, Naming Conventions and DNS/DHCP Assignments, Standard Configuration and Descriptors, and Configuration Upgrade Procedures.” (Cisco, 2006, p. 1) Software Version Control Management is achieved by using the same software version on devices that are similar. This eases the issues of defects and inoperability. IP Addressing management is the process of assigning and or reusing and documenting IP addresses. Naming conventions can be a big part of keeping a network running. Knowing how the naming conventions were set up...
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...Corporate governance Corporate governance can be defined as communication of audit matters with those charged with governance (ISA 260). Governance itself describes the role of person entrusted with the supervision, control and direction of an entity. Different company may have different bodies who responsible for the corporate governance. But nowadays, audit committee has been the important components of this responsibility as most of the company placed this role to audit committee. Even in ISA 260 requires auditor to actually determine who is in charge in corporate governance. As audit committee plays this role, they would deal with company’s internal control where in the end, company’s financial statement will be produced. So, how IFRS will ensure that the corporate governance will be achieved? Basically, corporate governance comes with 2 categories, firstly in term of non financial and another one is in term of financial. Here, we will focus more on financial since the financial statement is directly touched this category. Company’s financial statement is very important for the external users especially investors to make a decision and understand the business. Figures in the financial statement may not be very helpful, therefore, most of this investors will rely more on the disclosures or notes provided in the financial statement. Basically, IFRS promote corporate governance through this additional information by providing relevant and reliable information. In the notes...
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