...on Wednesday, March 2, 2011. You are to work on this test alone. Any situations where the professor determines that students have worked on the test together will be considered in violation of the honesty code. Choose the BEST answer on the multiple choice questions. The discussion questions can be written by hand or typed. ACC/BUS 333.01 Semester Test 1 Name:___________________________________ Multiple Choice Questions: Please circle the best response. (1.5 points each) Which of the following is not an example of a source document?Receiving reportPurchase orderSales orderAging reportJob costing systems are most appropriate for:a)Home builders b)Textbook publishers c)Beverage companies d)both a and b are appropriate industries for job costing systems An important input to the sales process is: A customer sales order The cash forecast Aged accounts receivable information A receiving report It is generally true of not-for-profit organizations that they: Are profit-oriented despite their name Are always evaluated using profit measuresAre not governed by accounting standardsEmphasize funds rather than income in their internal accounting systems 5. According to the text, all of the following are objectives of the human resource management process except: a) Hiring, training, and employing workers b)Counseling employees on retirement and medical benefits c)Maintaining employee earnings records d)Reporting...
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...LP1 Assignment: Accounting System Structure End of Chapter - Question #1 A.) An accounting information system is a computer-based method for tracking accounting activity storage by collecting the data, processing it, and reporting the information back to use internally and externally within a company. B.) The FASB conceptual framework is a guide for the accounting principles that I follow on a daily basis in every class I am taking. The FASB works as more of a building block for the AIS. The constraints, principles, assumptions, qualitative characteristics, elements of financial statements, and objective to financial reporting is what builds the AIS. Every business works with an AIS, you just may not see it. Any place you go to has a working AIS that functions from the FASB conceptual framework. With that said, the financial reporting is then consistent. This gives way for faithful representation in an organization. C.) Inputs - revenues, receipts, checks, payroll, etc.. Processes - how the AIS is going to be processes the inputs into vital information. Outputs - financial statements for internal and external reporting purposes. Storage - whether it is paper form, electronically, or both, it is easily able to be pulled up for analysis if a problem should arise. Also, it includes information for inventory, customers, and vendors. Lastly, Internal Controls - having daily backups of data and making sure there is separation of duties. One person working with processes the...
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...Jacqueline John – Individual Assignment - Accounting II Session II, January 16, 2014 Chapters 15 & 16 Chapter 15: Questions 2,5,6,7 and 14 Question#2 What is the International Accounting Standards Board? Why has the board been unable to obtain uniform global application of its standards? Answer: The IASB is particularly interested in harmonization and is charged with the responsibility of establishing and gaining acceptance of international financial reporting standards. Cross-border differences in accounting and reporting create analysis and comparability problems between and among companies. The need for comparable information has led to the demand of harmonization. Question#5: It is important to understand the economic system for businesses before entering into a business relationship because. Economics are handled differently by governments around the world. Much of the time, the economic system is relevant to the form of government. Question #6: Provide an example showing how the following environmental forces affect accounting practices: A. Political and Legal Systems: Managers operating in or planning operations in foreign countries must monitor associated political risks. Political risk occurs because governments have the ability to shift asset ownership from the company to the government or because the company may be asked to relinquish control over operations due to government intervention. Laws enacted by foreign governments often...
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...of Business ACC/340 Version 4 Accounting Information Systems I ACC/340 Schedule 10/10/2013 – 11/07/2013 Campus: Puerto Rico Campus Group ID: BA0913RE 3 Credits 36 Hours Copyright © 2009, 2007, 2005, 2004, 2003, 2001 by University of Phoenix. All rights reserved. Course Description This course is designed to provide accounting students with the proper mix of technical information and real-world applications. Areas of study include fundamental concepts and technologies (what computers can do for business), the Internet, intranets, electronic commerce, information systems development, basic project management principles, decision support systems, and the benefits of computer and human synergy. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Bagranoff, N. A., Simkin, M. G., & Strand, C. S. (2008). Core concepts of accounting information systems (10th ed.). New York, NY: John...
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...ACCT 305 Accounting Information Systems Chapter 6 Review Questions 1. Several Unique problems and risks associated with computerized information networks are unauthorized access, use, disclosure, disruption, modification, or destruction 2. Elements included in an ISMS system such as hardware, databases, procedures, and reports. 3. Development of ISMS requires application of the life cycle approach for system maintenance purposes. 4. Risk Management is the identification, assessment, and prioritization of risks. 5. Quantitative Approach - each loss exposure is computed as the product of the cost of an individual loss times the likelihood of its occurrence. Qualitative Approach – lists out the system’s vulnerabilities and threats and subjectively ranks them in order of their contribution to the company’s total loss exposures. 6. Types of threats that affect information systems a) Active threats include information systems fraud and computer sabotage. b) Passive threats include system faults, as well as natural disasters (e.g., earthquakes, floods, fires, and hurricanes). 7. Characteristics of white-collar criminal 8. Types of individuals pose a threat to an information system a) Computer and information systems personnel: are often given a wide range of access privileges to sensitive data and programs. b) Users: are given narrow access, but can still find ways to commit fraud. c) Intruders and attackers: are...
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...HI5019 Strategic Information Systems for Business and Enterpise (T1, 2013) Assignment (20% of Final Mark) The assignment has two parts namely Part A (20 marks) & B (20 marks). Part A will require you to answer four (4) questions. Part B will involve two (2) cases selected form you textbook, Accounting Information Systems 8th edition by James A. Hall. The assignment aims to develop an understanding of Accounting Information Systems structure and their use in the business setting. The task is to answer questions relating to transaction processing, ethics, fraud and internal control. This assignment itself includes several assignments, each of which comprises a part of the students’ task. However, it is well encouraged to include any additional information that students may think will be useful in completing the task. General Rules and Requirements: Reports must be confined to 3,000 words (+/- 5%). As a minimum, a title page, table of contents page (based on your report headings), introduction, conclusion and references should be included. Font type should be Arial (size 11), paragraph spacing should be 1.5. Note: Any additional material from external sources that you “copy and paste” into your report is NOT included in the word limit. Also, ensure it is appropriately referenced. PART A (20 marks) 1. How does SOX affect the provision of attest and advisory services? (5 marks) 2. Compare and contrast the relative advantages and disadvantages of sequential, block,...
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...Polytechnic University of the Philippines Sta. Mesa, Manila College of Accountancy and Finance CHAPTER 1: ACCOUNTING INFORMATION SYSTEMS AND THE ACCOUNTANT Submitted By: Angeles, Jireh Nesamiel L. Carullo, Shery Lyn A. Gutierrez, Joe Mar C. Monforte, Roselyn G. Reyes, Edward Angelo A. BSA 3-9 Submittes To: Prof. Leandro Cruz Fua WHAT’S NEW IN ACCOUNTING INFORMATION SYSTEMS? Cloud Computing—Impact for Accountants According to Ron Gill, cloud computing is a way of using business applications over the Internet—such as the way you use the Internet for your bank transactions. Think of cloud computing as a way to increase IT capacity or add capabilities without investing in new infrastructure, training new people, or licensing new software. Mostly, we’re talking about a subscription-based or pay-per-use service that makes IT’s existing capabilities scalable whenever the need exists. Estimates suggest that the fast-growing cloud computing industry will reach $42 billion by 2012. Cloud computing resources may be categorized as data storage, infrastructure and platform, or application software (i.e., business applications such as purchases, HR, sales, etc.). If a firm would like to take advantage of cloud computing, it would most likely need to subscribe to all three of these categories from the service provider. For example, business applications depend on company data that is stored in the database, and data storage depends on the appropriate infrastructure...
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... |Accounting Information Systems I | Copyright © 2009, 2007, 2005, 2004, 2003, 2001 by University of Phoenix. All rights reserved. Course Description This course is designed to provide accounting students with the proper mix of technical information and real-world applications. Areas of study include fundamental concepts and technologies (what computers can do for business), the Internet, intranets, electronic commerce, information systems development, basic project management principles, decision support systems, and the benefits of computer and human synergy. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Bagranoff, N. A., Simkin, M. G., & Strand, C. S. (2008). Core concepts of accounting information...
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...to be rational economic persons motivated solely by self-interest but may differ with respect to preferences, beliefs and information (Jensen and Meckling, 1976). The principal/agent relationship can exist throughout any organisation and usually starts from the shareholder-director and ends with the supervisor-shop floor worker (Figure 1.1). In an organisation context, which involves uncertainty and asymmetric information, the agent’s actions may not always be directed to the best interests of the principal. Agents’ pursuit of their self-interest instead of those of the principal is what is called the agency problem (Jensen and Meckling, 1976). To counter this behaviour, the principal may monitor the agents’ performance through an accounting information system. The owner can also limit such aberrant behaviour by incurring auditing, accounting and monitoring costs and by establishing, also at a cost, an appropriate incentive scheme (Jensen and Meckling, 1976). According to Jensen (1998), agency theory seeks to understand: (1) how to assign decision making responsibility to agents, (2) how to monitor agents’ behaviour, and (3) how to design incentives that cause agents to behave in a way that enhances the principal’s interests. Agency theory is built around the key ideas of self-interest, adverse selection, moral hazard, signalling, incentives, information asymmetry and most persuasively, the contract. Figure 1.1: The principal agent...
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...HI5019 Strategic Information Systems for Business and Enterpise (T1, 2013) Assignment (20% of Final Mark) The assignment has two parts namely Part A (20 marks) & B (20 marks). Part A will require you to answer four (4) questions. Part B will involve two (2) cases selected form you textbook, Accounting Information Systems 8th edition by James A. Hall. The assignment aims to develop an understanding of Accounting Information Systems structure and their use in the business setting. The task is to answer questions relating to transaction processing, ethics, fraud and internal control. This assignment itself includes several assignments, each of which comprises a part of the students’ task. However, it is well encouraged to include any additional information that students may think will be useful in completing the task. General Rules and Requirements: Reports must be confined to 3,000 words (+/- 5%). As a minimum, a title page, table of contents page (based on your report headings), introduction, conclusion and references should be included. Font type should be Arial (size 11), paragraph spacing should be 1.5. Note: Any additional material from external sources that you “copy and paste” into your report is NOT included in the word limit. Also, ensure it is appropriately referenced. PART A (20 marks) 1. How does SOX affect the provision of attest and advisory services? (5 marks) 2. Compare and contrast the relative advantages and disadvantages of sequential, block, group, alphabetic...
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...Suggested topics for discussions are provided for each question. Discussion need not be confined to the topics indicated. 1. In figure 5.1, the accounting cycle is illustrated. Explain the purpose and importance of each step in the cycle. Step 1 of the accounting cycle is to capture the data from every transaction involving the entity in the form of source documents, which may take many different formats. For example, source documents can consist of sales or service invoices, cash dockets, credit card slips, purchase invoices, delivery notes, credit notes, computerised cash register tapes, EFTPOS records. Step 1 is important in that it is the chief means of collecting data about the economic activities of the entity, which then must be recorded in the accounting system. The step provides a vital first stage in developing an audit trail for auditors to assess the effectiveness of control procedures in the accounting information system. Step 2 records (enters), in journals, all of the transactions about the entity from source documents developed in Step 1. This is usually done as a double entry process. The journals are important in that they provide a chronological record of the economic transactions and events that affect the entity. Step 3 posts all of the information from the journals into the entity’s ledger accounts. In so doing, financial information is reclassified into items of a like nature, i.e. into different types of assets, liabilities and equity...
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...INTERNSHIP REPORT ON ACCOUNTING INFORMATIONSYSTEM OF REAL ESTATE BUSINESS IN BANGLADESH”-AN EMPIRICAL STUDY OF [pic] PREPARED FOR Farzana Afrin Internship Supervisor & Lecturer Dept. of Business Studies Stamford University Bangladesh. PREPARED BY Mahmood Hossain Id: 02707400 Section: 27(Q) Date: LATTER OF TRANSMITTAL April Ms Farzana Afrin Lecturer Stamford University Dhanmondi, Dhaka Dear Madam, I feel myself fortunate enough for having the scope to conclude the study on “The Accounting information System of Real Estate Business in Bangladesh”-An Empirical study of Building For Future Ltd, Which you assigned me to do as a part of the study. Obviously, this type of practical work made me acquainted with “Real Estate Finance” in real life situation. Here, I can’t deny the help that I got from the staff of Building For Future Ltd. who ensured me a full congenial atmosphere to access over a plenty of information with relevant papers and a practical survey. I am thankful to them for showing their highest degree of tolerance in answering my inexorable questions, sometimes repeated. I would enthusiastically provide you related information depending on your queries. The report was prepared under your able leadership and I do respectfully appreciate guidance to me to learn about...
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...Course Accounting Information Systems http://homeworkfy.com/downloads/acc-564-entire-course-accounting-information-systems/ To Get this Tutorial Copy & Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Homeworkfy@gmail.com Visit our Site for More Tutorials: (http://homeworkfy.com/ ) ACC 564 Week 2 Assignment 1 – Information Needs for the AIS In 1967, Russell Ackoff presented a classical analysis of misinformation in management (Ackoff’s Management Misinformation Systems, Case 1-1, pg. 21 of the text). Now, you need to fast-forward to the present. After reading the case, craft your own version of misinformation in management by developing five (5) key incorrect assumptions that management makes about its accounting information systems. For this assignment, research the Internet or Strayer databases for information related to improper assumptions concerning accounting information systems. Write a five to seven (5-7) page paper in which you: Based on your research, assess how corporate leaders may make improper assumptions related to accounting information systems and the related information. Indicate the most negative potential impacts on business operations related to these assumptions. Provide support for your rationale. Suggest three to four (3-4) ways in which organizational performance may be improved when information is properly managed within a business system. Provide support for your rationale. Evaluate the level of system security...
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...Course Accounting Information Systems http://homeworkfy.com/downloads/acc-564-entire-course-accounting-information-systems/ To Get this Tutorial Copy & Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Homeworkfy@gmail.com Visit our Site for More Tutorials: (http://homeworkfy.com/ ) ACC 564 Week 2 Assignment 1 – Information Needs for the AIS In 1967, Russell Ackoff presented a classical analysis of misinformation in management (Ackoff’s Management Misinformation Systems, Case 1-1, pg. 21 of the text). Now, you need to fast-forward to the present. After reading the case, craft your own version of misinformation in management by developing five (5) key incorrect assumptions that management makes about its accounting information systems. For this assignment, research the Internet or Strayer databases for information related to improper assumptions concerning accounting information systems. Write a five to seven (5-7) page paper in which you: Based on your research, assess how corporate leaders may make improper assumptions related to accounting information systems and the related information. Indicate the most negative potential impacts on business operations related to these assumptions. Provide support for your rationale. Suggest three to four (3-4) ways in which organizational performance may be improved when information is properly managed within a business system. Provide support for your rationale. Evaluate the level of system security...
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...CHAPTER 1 INTRODUCTION Accounting Information Systems is concerned with the way computerized information systems impact how accounting data is captured, processed, and communicated. This course book introduces you to the people, technology, procedures, and controls that are necessary to conduct internal and external e-business, with an emphasis on the internal controls over such systems. It also highlights the relationship between accounting and management information systems. Finally, accountants, information system professionals, lectures, students and the general public are recommended to get copies. CHAPTER 2 LITERATURE REVIEW Accounting Information Systems (AISs) combine the study and practice of accounting with the design, implementation, and monitoring of information systems. Such systems use modern information technology resources together with traditional accounting controls and methods to provide users the financial information necessary to manage their organizations. AIS TECHNOLOGY Input The input devices commonly associated with AIS include: standard personal computers or workstations running applications; scanning devices for standardized data entry; electronic communication devices for electronic data interchange (EDI) and e-commerce. In addition, many financial systems come "Web-enabled" to allow devices to connect to the World Wide Web. Process Basic processing is achieved through computer systems ranging from individual personal computers...
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