Accounting Information Systems Accounting Information System Tutorial 3 Answers 5.4 Environmental, institutional, or individual pressures and opportune situations, which are present to some degree in all companies, motivate individuals and companies to engage in fraudulent financial reporting. Fraud prevention and detection require that pressures and opportunities be identified and evaluated in terms of the risks they pose to a company. Adapted from the CMA Examination. a. Identify
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ACT 564 Homework Problem 1.1 Information technology is continually changing the nature of accounting and the role of accountants. Write a two-page report describing what you think the nature of the accounting function and accounting information system in a large company will be like in the year 2020. When thinking about the future of accounting and the accounting function and accounting information system, it is hard to imagine what it will be like in the future. We have come so far in
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Data is unprocessed information, the fact that is still raw. It has no meaning by itself. Data can be in any form, for examples numbers, words, and pictures. However, some data can be useable or not at all. Information is data that has been processed and given meaning. This information can be very useful in some case, but can also be useless for others. Usually information provides answers to “who, what, where, when, and how” questions. Information is also easier to remember than data which is still
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Comparison between REA model and traditional financial reporting system? Traditional financial reporting system is mainly characterized by some important financial statement, such as balance sheet / income statement / cash flow statement, which are compiled according to the accounting model: Assets = Liabilities + Owners’ Equity & double-entry accounting voucher, this will cause some limitations: high level of information aggregation ignoring non-financial data limited potential user
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“The impact of innovations and developments in information and communication technology on corporate accounting information systems has removed the need for excessive internal control.” Discuss the truthfulness or falsity of this statement Information and communication technology has been a major factor of efficient accounting system and great organizational performance recently. In order to maximize the benefits of information technology systems, the appropriate implementation and adoption procedures
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6-7 | 4 | Bibliography | 8 | 5 | CD | 9 | 6 | Turnitin report | 10 | Question 1 Mrs. Sally runs a bakery business, Sweet Delight which caters to both individuals and businesses. However, there are some flaws found in her current sales system that caused a loss of significant amount of money. Hoping that she’s able to improve her cash flow, there are some weaknesses highlighted in her current practice. i) Poor online ordering. Having an online catalogue is beneficial for businesses
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the open/closed purchase order file. Receive Goods The next event in the expenditure cycle is the receipt of the inventory. Goods arriving from the vendor are reconciled with the blind copy of the PO. Blind copy contains no quantity or price information about the products being received. This is an important device to verify the quantity and condition of goods. Upon completion of the physical count and inspection, the receiving clerk prepares a receiving report. One copy of the receiving report
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PEACHTREE ACCOUNTING SOFTWARE Accounting 352 Course Project Part 1 Elizabeth Pearson July 16, 2013 Professor Nadonya Jackson Section I: Overview Peachtree Accounting Software is a software program made for small and medium sized businesses sold by Sage. This software enables controllers and mangers to automate and manage the numerous accounting tasks involved in a business. Peachtree software can benefit a company by providing accuracy
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Problem Exercise I From your course textbook, Accounting Information Systems, complete the following problems given at the end of the chapters specified: * Accounting Information Systems: An Overview—1.5 * Overview of Business Processes—2.4 and 2.7 Clearly label the problems. Prepare your assignment in a Microsoft Word document. Save the document as SU_ACC3010_W1_A3_LastName_FirstInitial.doc. Submit your assignment to the W1: Assignment 3 Dropbox by Sunday, August 7, 2011. Cite any sources
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Journal Entries in an ERP This assignment reviews basic accounting entries for a series of transactions, emphasizes the integration of journals to the financial statements, and introduces students to these journal entries in SAP ERP Journal Entries in an ERP This assignment reviews basic accounting entries for a series of transactions, emphasizes the integration of journals to the financial statements, and introduces students to these journal entries in SAP ERP
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