concept of a paper trail has become a bit of a misnomer; today, because of accounting information systems, there is often no paper involved at all; however, it is important to establish the flow the data in different areas of the organization, or audit trail, so as to properly exercise internal controls. AISs help in this purpose. At the outset of this course, you will learn the basics of accounting information systems and business processes. Next, you will learn about database management systems,
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successful attainment of organizational goals and objectives. Information system has become a very powerful agent of change and it is transforming the way businesses are conducted and the way companies operate. Therefore, accountants, as information management professionals, must therefore be major players in technology revolution in every organization. However, within an organization, the Accounting Information System (AIS) is resulted from the structured and successful integration of three
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goal. 2. Two general types of business processes are present in most organizations that deliver goods and services: the operating processes and the management and support processes. The operating processes include strategic planning, product and service design and development, marketing, production/delivery, invoicing, and collection. The management and support processes include obtaining and managing the organization’s human resources (this could include hiring, training, benefits), managing
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1. Introduction “The only constant is change”, as Heraclitus points out (Brainyquote.com). There is no doubt that the world has changed over time physically, economically, and culturally. As the world has evolved, so has business, and as business has evolved so has auditing. The concept of auditing is as old as civilization. The need for a knowledgeable, external, third person to verify transactions or accounts and detect fraud has been present since the advent of trade and accounting. Thus the
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the economy, and especially in business and industry. History has shown just how business and industry has needed CPAs, from controlling payroll and taxes, auditing accounting journals at the local mom-and-pop stores, to auditing financial papers of big corporations in order to let the investors at banks and Wall Street have some sort of an idea of how sound a Corporation is. America moved from an agricultural to an industrial society, creating a complex society requiring the knowledge in
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Abstract The present paper aims at reviewing the various developments in Corporate Governance in India. Corporate Governance has gained a lot of importance and momentum the world over. The objective of any corporate governance system is to simultaneously improve corporate performance and accountability as a means of attracting financial and human resources on the best possible terms and of preventing corporate failure. In short Corporate Governance is about promoting corporate fairness, transparency
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fundamentals of financial accounting as well as the identification, measurement, and reporting of the financial effects of economic events on the enterprise. Financial information is examined from the perspective of effective management decision making with special emphasis on the planning and controlling responsibilities of practicing managers. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents:
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lot of debate about whether the act has positively or negatively affected corporate America. In this paper I have discussed the opinions of both sides of the argument. The Sarbanes-Oxley Act is a bill passed by Congress in 2002 after several corporations took actions that caused their companies to fail. These companies include Enron and WorldCom. As a result of these actions, stockholders lost confidence in the financial system. The intent of
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department wanted, it usually got, because what was wanted often seemed strategically important to the organization. The bursting of the ―tech bubble‖ in 2001 changed the way that companies regarded their investment in information systems. The effective management and use of information systems is essential to the future growth and prosperity of any organization. Or is it? In his 2004 book, Does IT Matter? Information Technology and the Corrosion of Competitive Advantage, Nicholas Carr asked if, since the
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suffer at the hands of ineffective leaders. Compounding the need for effective leadership is the unethical and illegal behavior of numerous business and public sector leaders that has led to the failure of many organizations. The scandals at Enron, WorldCom, HealthSouth, OfficeMax, Tyco, Marsh & McLennan, Putnam, and Boeing, to name just a few, have focused on the importance of strong, effective, and ethical leadership. Dissatisfaction on the part of stockholders and boards of directors has increasingly
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