...Automated 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...
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...Accounting is the process of identifying the transactions and events, measuring the transactions and events in terms of money, recording them in a systematic manner in the books of accounts, classifying or grouping them and finally summarizing the transactions in a manner useful to the users of accounting information . Let’s now discuss these accounting processes one by one: 1. Identifying the transactions and events: This is the first step of accounting process. It identifies the transactions of financial character that is required to be recorded In the books of accounts. Transactions is transfer of money or goods or services from one person or account to another person or account. 2. Measuring: This denotes expressing the values of business transactions and events in terms of money 3. Recording: It deals with recording of identifiable and measurable transaction and events in a systematic manner in the books of original entry that are in accordance with principles of accountancy. 4. Classifying: It deals with periodic grouping of transactions of similar nature that appear in the books of original entry into appropriate heads by posting or transfer entries 5. Summarizing: It deals with summarizing or condensing transactions in a manner useful to the users. This function involves the preparation of financial statements such as income statement, balance sheet, statement of changes in financial position and cash flow statement 6. Analyzing: It deals with the...
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...management accounting play role in planning process? Fabio Frezatti a,⁎, Andson B. Aguiar a,b,1, Reinaldo Guerreiro a,2, Maria A. Gouvea a,2 a University of Sao Paulo, School of Economics, Business Administration, and Accounting, Av. Prof. Luciano Gualberto 908, FEA3, Cidade Universitária, São Paulo City, 05508-900, State of São Paulo, Brazil b Fucape Business School, Av. Fernando Ferrari, 1358, Boa Vista, Vitória-ES, 29075-505, Brazil a r t i c l e i n f o a b s t r a c t This study examines the relationship between management accounting and planning profiles in Brazilian companies. The main goal is to understand the consequences of not including a fully structured management accounting scheme in the planning process. The authors conducted a field research among medium and large-sized companies, using a probabilistic sample from a population of 2281 companies. Using analytic hierarchy process (AHP) and statistical cluster analysis, the authors grouped the entities' strategic budget planning processes into five profiles, after which the authors applied statistical tests to assess the five clusters. The study concludes that poor or fully implemented strategic and budget-planning processes relate to the management accounting profiles of the Brazilian organizations studied. © 2009 Published by Elsevier Inc. Article history: Received 1 March 2009 Received in revised form 1 September 2009 Accepted 1 November 2009 Available online xxxx Keywords: Management accounting Strategic...
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...Executive Summary Dimensions will carry a wide variety of top of the line quality women's shoes and accessories. Our styles and selections will range from the basics of comfortable flats and sandals to the trendy style of Laboutain shoes and High Heels. We plan to purchase through a variety of distributors located across the globe. Our specialty will be offering shoes that are unique in color and style to fit our customer base. Dimensions is organized as a Limited Liability Corporation in the name of Michelle Fox. Dimensions will occupy a 2500 SQ FT space at 3939 Capitol Ave in the Sun Valley Strip mall located near Shoetown, NY, The Concept Recognizing that the market for unique and quality limited edition shoes is becoming quite competitive. Dimensions will minimize the competition by targeting specific niches, generally focusing on other retail stores whose prices are too expensive, lack quality and variety. Dimensions has three keys to success. 1) Establishing high value relationship with its vendors and customers. 2) Ensure customer satisfaction with quality products and knowledgeable, friendly employees. 3) Organization. This boutique business plan is intended to provide the structure to make sure this last key to success is realized. The Market The market for high quality, affordable shoes has grown in the past few years. We expect Dimensions to grow at 2% annually for the first 2 years of business and 3% in years 3, 4 and 5. Dimensions plans to stay competitive...
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...Touro University International ACC403 Principles of Accounting Module 1 Case Assignment Dr. Paul Watkins Introduction, Review of Accounting Process and Financial Statements According to about.com (http://about.com), Generally Accepted Accounting Principles (GAAP) refers to a set of extensively customary bookkeeping principles, established by the Financial Accounting Standards Board (FASB) (http://www.fasb.org/), and used to regulate fiscal accounting of public corporations. The FASB was formed in 1973, replacing the Accounting Principles Board and the Committee on Accounting Procedure of the American Institute of Certified Public Accountants before it. The FASB is a private body whose operation is to “institute and advance values of economic accounting and reporting for the supervision and instruction of the public, the FASB circulate GAAP. GAAP is important in accounting because it is the set standard for companies to follow. In its simplest terms, current assets are what you own and liabilities are what you owe. Current assets are those assets that can readily be converted to cash. Bank accounts are of course most readily convertible, but any assets that can be converted to cash within a short time are current assets. Current liabilities are those liabilities which have to be paid off within a short time. Equity is what is left over. It is your net worth. Non-current items are broken down into two categories non current assets and non-current...
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...System. In this diagram, we see that the central process, which is the TIMS, will interact with six entities, which include the corporate client, the training administrator, the instructor, the student, the course, and the accounting system. Moreover, the interaction among these entities will involve six different data flows. The corporate client will be provided a training summary. The training administrator will receive training reports and will supply schedule decisions. The instructor will supply completion data and receive a class roster and course assignments. The accounting system will receive data regarding accounting. The course will receive course data from and supplied data back to the system. The student will request courses. When their request is processed, they will receive a confirmation and an invoice. The student can then submit a payment. Level 0 Diagram The training administrator will submit schedule decisions which are processed by the manage course scheduling process. The course management scheduling process will supply information about the course offered. This information might include course times, schedules, descriptions and so forth. The manage course scheduling process will also receive information from the courses. The Manage Course Scheduling process stores data in the training data database and retrieves it form there when it needs to use it again. The Manage Course Scheduling process provides course assignment information for the...
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...allows all hardware instructions to be executed. It reacts to interrupts from external devices and to service requests and traps from processes. The kernel creates and terminates processes and responds to requests for service. Operating systems are resource managers. The main resource is computer hardware in the form of processors, storage, input/output devices, communication devices, and data. Operating system functions include: • Implementing the user interface. • Sharing hardware among users. • Allowing users to share data among themselves. • Preventing users from interfering with one another. • Scheduling resources among users. • Facilitating input/output. • Recovering from errors. • Accounting for resource usage. • Facilitating parallel operations. • Organizing data for secure and rapid access. • Handling network communications. Processes run applications, which are linked together with libraries that perform standard services. The kernel supports the processes by providing a path to the peripheral devices. The kernel responds to service...
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...COMP3361 Operating Systems I Mid-term Review and Study Guide Basic Concepts: What is an operating system? A program that acts as an intermediary between a user of a computer and the computer hardware - basic functions? 1.) OS is a resource allocator 2.) manages all resources 3.) decides between conflicting requests for efficient and fair resource use 4.) OS is a control program 5.) controls execution of programs to prevent errors and improper use of the computer 6.) a program running at all times on the computer, usually called the kernel 7.)everything else is either a a.) system program: associated with the OS but not part of the kernel b.) application program: not associated with the OS user/kernel modes of operation? 1.) The operating system must ensure correct operation of the computer system. To prevent user programs from interfering with the proper operation of the system, the hardware has two modes: user mode and kernel mode. Various instructions (such as I/0 instructions and halt instructions) are privileged and can be executed only in kernel mode. 2.) Kernel Mode In Kernel mode, the executing code has complete and unrestricted access to the underlying hardware. It can execute any CPU instruction and reference any memory address. Kernel mode is generally reserved for the lowest-level, most trusted functions of the operating system. Crashes in kernel mode are catastrophic; they will halt the entire PC. 3.) User Mode In User mode...
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...5 2.1 Purpose 5 2.2 Scope 5 2.2.1 In Scope 5 2.2.2 Out of Scope 5 2.3 Assumptions 6 2.4 Reference 7 2.5 Functional Description – Reversal-Correction Process 8 2.5.1 Functional Overview 8 2.5.1.1 Current State Data Flow Diagrams 8 2.5.1.2 Future State Data Flow Diagrams 12 2.6 Related Application Requirements 19 2.7 Key Considerations 20 2.8 Source System Inputs 21 2.9 FDS/ODS Inputs 21 2.10 FDS/ODS Outputs 22 2.11 Logical Data Model Diagram – N/A 22 2.11.1 Table Definitions 22 2.12 Technical Description 25 2.13 Processing Logic 25 2.13.1 Functional Process Flow 25 2.13.2 Process 01 – Identification 29 2.13.2.1 Inputs 29 2.13.2.2 Outputs 29 2.13.2.3 Potential temporary/staging table definition 30 2.13.2.4 Processing Steps 31 2.13.2.5 Mapping document 31 2.13.3 Process 02 – Reversal 32 2.13.3.1 Inputs 32 2.13.3.2 Outputs 32 2.13.3.3 Potential temporary/staging table definition 34 2.13.3.4 Processing Steps 34 2.13.3.5 Mapping document 35 2.13.4 Process 03 – Delete 35 2.13.4.1 Inputs 35 2.13.4.2 Outputs 36 2.13.4.3 Potential temporary/staging table definition 37 2.13.4.4 Processing Steps 37 2.13.4.5 Mapping document 37 2.13.5 Process 04 – Correction 38 2.13.5.1 Inputs 38 2.13.5.2 Outputs 39 2.13.5.3 Potential temporary/staging table definition 40 2.13.5.4 Processing Steps 40 ...
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...Operating system concepts(Seventh edition) 2008.3 solutions to the exercises Chapter 1 1.1 In a multiprogramming and time-sharing environment, several users share the system simultaneously. This situation can result in various security problems. a. What are two such problems? b. Can we ensure the same degree of security in a time-shared machine as in a dedicated machine? Explain your answer. Answer: a. Stealing or copying one’s programs or data; using system resources (CPU, memory, disk space, peripherals) without proper accounting. b. Probably not, since any protection scheme devised by humans can inevitably be broken by a human, and the more complex the scheme, the more difficult it is to feel confident of its correct implementation. 1.2 The issue of resource utilization shows up in different forms in different types of operating systems. List what resources must be managed carefully in the following settings: a. Mainframe or minicomputer systems b. Workstations connected to servers c. Handheld computers Answer: a. Mainframes:memory and CPU resources, storage, network bandwidth. b. Workstations: memory and CPU resouces c. Handheld computers: power consumption, memory resources. 1.3 Under what circumstances would a user be better off using a timesharing system rather than a PC or single-user workstation? Answer: When there are few other users, the task is large, and the hardware is fast, time-sharingmakes sense. The full power of the system can be brought to bear on the...
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...Who is the creater of CP/M? [Kildall] Who is the head of the Multics project. [Carbato] Which OS’s process scheduler reduces priority and increases quantum. [CTSS] Which one is the difference between a semaphore and monitor. [Last choice] If a system has 16 drives and each process can have 4 drives. What is the maximum number of n that the system is deadlock free. [5] Given the sequence below which processes will cause a page fault. (for FIFO – LRU) Write a loop that would create 10 child processes. (No more than 10). If a file is shared by two processes, can have read-only and the other read-write access. If yes how, if not what prevent it. What are some of the security features in UNIX or NT. How does NTFS directory system work. How does UNIX directory system work. Pick a Unix UNIX process scheduler and explain how (not why or when) it favors I/O bound processes to CPU bound processes. Explain and compare I/O software (programmed, interrupt, DMA). What is the problem with RAID4 and explain how RAID5 solves the problem. Disk arm scheduling algorithms readuce read time but what does Linux additionally do. How does Workingset Clock algorithm work. If seektime is 8msec and each track is 160KB. What is the access time to read 4KB. Couffman listed four requirements for a deadlock. Describe fourth one and how to prevent it. What are the advantages of inverted page tables. What is a soft link. Implement soft link and hard links...
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...Fall 2011 COMP 3511 Homework Assignment #1 Solution Handout Date: Sept. 22, 2011 Due Date: Oct. 6, 2011 Name: ______________ ID: ___________________ E-Mail: _____________ COMP 3511 L __ Please read the following instructions carefully before answering the questions: You should finish the homework assignment individually. There are a total of 4 questions. When you write your answers, please try to be precise and concise. Fill in your name, student ID, email and Section number at the top of each page. Submissions without this information will be discarded. Please fill in your answers in the space provided, or you can type your answers in a Word file. Homework Collection: the hardcopy is required and the homework is collected at the collection box (#6, #7) or in class. (22 points) Please answer the following question in 2-3 sentences 1) (8 points) What is the benefit of Direct Memory Access (DMA)? Is interrupt still needed when a DMA is used? Can DMA operations possibly interfere with CPU operations? 1. Answer: This frees up the CPU during I/O operation, so the CPU can be better used; Or to improve the CPU utilization (3 points). Interrupt is still needed when the DMA operation is completed in order to inform the CPU (2 points). If a DMA and CPU access memory at the same time, it can interfere with each other (3 points). 2) (4 points) Why is it necessary to separate user mode and kernel mode? Answer: This provides some level of protection so that user programs...
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...UNDERSTANDING THREADS Simply put, a thread is a program's path of execution. Most programs written today run as a single thread, causing problems when multiple events or actions need to occur at the same time. Let's say, for example, a program is not capable of drawing pictures while reading keystrokes. The program must give its full attention to the keyboard input lacking the ability to handle more than one event at a time. The ideal solution to this problem is the seamless execution of two or more sections of a program at the same time. Threads allow us to do this. A process is essentially a "heavy" unit of multitasking: as an approximation, think of it as an "application" (though it can include 'background' or 'system' processes such as your battery monitor, mouse and keyboard server, PDA synchronization tool etc). A thread, on the other hand, is a more "lightweight" unit. Threads are can be seen essentially sub processes. Informally, we can think of them as tasks that belong to a program and that can run "simultaneously". For them to run simultaneously, each of these two tasks will run in a separate thread. Depending on the number of CPUs available and the number of competing threads, some of those threads actually will run in parallel on different CPUs, whilst in other cases the illusion of simultaneous execution will be achieved by "juggling" threads in and out of the available CPUs. A part of the OS called the thread scheduler takes care of deciding...
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...Chris and Pat Smith, and Martin and Miller decided it was best to have a termination contact set in place to secure all partakers in their final decisions. They noted it was best for all to have precise, clear explanations all of all essential fundamentals for the termination of their business partnership. An acknowledgement of the effective termination date would need to be set, and all potential risks, if any, should be stated for all parties. The owners and the chefs would meet for a period of 30 minutes and try to dissolve their partnership. The owners and the chefs blame each other for the failure of At Your Service; however, all partakers should act as responsible, mature adults during the meeting. It would speed up the termination process; especially if all partakers can...
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...Case Study Tresa Jellison HCS/483 November 12, 2012 Dr. Kaderie Case Study The basic IT implementation process is the whole process of setting up and running an IT based program for a company. It starts from the beginning to the end of the process and throughout the whole process even after the last step has been taken. You have the planning stage, and this will include what exactly what you are looking for and what you want the program to do and how it will operate. Who will be using this program and who will it be beneficial to. You will have to go and get bids or quotes from companies that can provide this type of service. Depending on what is being implemented you have to do weeks, months and even years of research to ensure that the program will benefit everyone involved and that time and money is not being wasted. A lot of the things that were done are this analysis did not follow the fundamentals of implementation. During the execution of the program there where many bugs that had to be fixed that could have been prevented if the right questions and queries where ran before going live. There should have been a trial or practice run before the whole system went live. And they should have not done it at all of the sites. Only a couple of the sites should have had the program and should have been using it to get the bugs out. There were way off budget and there were a lot of hidden details that should have been reported. At least this way there would have...
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