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accounting information systems
Questions and Answers of
Accounting Information Systems
A large manufacturing firm needed a specialized software program to identify and monitor cost overruns for one of its specialty processing plants. After an extensive search and analysis of potential
Ajax Manufacturing installed a new inventory tracking system in its warehouse that includes bar code scanners. Warehouse personnel must scan each item in the warehouse on a monthly basis. To properly
Which of the following is not one of the difficulties accountants have experienced using the traditional systems development life cycle?a. AIS development projects are backlogged for years.b. Changes
Which of the following statements is false?a. As a general rule, companies should buy rather than develop software if they can find a package that meets their needs.b. As an AIS increases in size and
When buying large and complex systems, vendors are invited to submit systems for consideration. What is such a solicitation called?a. request for quotationb. request for systemc. request for
To compare system performance, a company can create a data processing task with input, processing, and output jobs. This task is performed on the systems under consideration and the processing times
A city in the Midwest with a population of 45,000 purchased a computer and began developing application programs with in-house programmers. Four years later, only one major application had been
Sara Jones is the owner of a rapidly growing department store and faces stiff competition. The store is using an out-of-date AIS, resulting in poor customer service, late and error-prone billing, and
Clint Grace is the owner of a chain of regional department stores and has been in the business for more than 30 years. He has definite ideas about how department stores should be run. He is
Don Otno is confused. He has been researching software options but cannot decide among three alternatives. He has come to you for help.Don started his search at Computers Made Easy (CME), a computer
One unhappy federal agency spent almost \($1\) million on a development contract for an integrated human resources/payroll system that produced no usable soft¬ ware. The original contract was for
Wong Engineering Corporation (WEC) operates in 25 states and three coun¬ tries. WEC faced a crucial decision: choosing a network operating system and soft¬ ware that would maximize functionality,
Mark Mitton is the accountant acting as liaison to the information systems department for a midsize retail firm in Salem, Oregon. Mark has been investigating several computer systems and has narrowed
Nielsen Marketing Research USA (NMR), with operations in 29 countries, is the recognized world leader in the production and dissemination of marketing information. Nielsen was a pioneer in the
A state department of licensing needed a new system to handle registration and license applications. After conducting a thorough systems analysis, the department estimated that the project would cost
Meredith Corporation publishes books and magazines, owns and operates tele¬ vision stations, and provides a real estate marketing and franchising service. Meredith is dissatisfied with its ability
The following list outlines the activities a company may perform in the process of reengineering its business. Match each activity with one of the seven prin¬ ciples of reengineering.Reengineering
The management of Quickfix would like to decrease costs and increase customer service by reengineering its computer repair procedures. Currently, when a defective or broken computer needs servicing,
Conduct a search (using written materials, the Internet, electronic databases, etc.) for successful and failed implementations of information systems. Per your professor’s instructions, prepare an
Norcom, a division of a large manufacturer, needed a new distribution and customer service system to replace its old system. The project was to take 18 months to complete and cost approximately $5
A large organization needed a new system to replace its old customer data¬ base within 18 months. The new customer system was built at an estimated cost of $1 million and installed by the
How does an organization identify the specific accounts it needs in its chart of accounts?
Why are control accounts commonly found in the general ledger of an organization?
What functions are served by accounting forms and papers in an organization?
What are the uses of standard journal entries?5 . What are the basic objectives of coding systems?
Define and give an example of the following types of codes:(a) sequential(b) block(c) group(d) decimal
What is the major disadvantage of a decimal code?
Identify several standardization procedures pertinent to the coding of calendar data.
Distinguish between Julian and Gregorian calendar dating. Which is more advantageous in data processing environments?
What is a mnemonic code?
Are forms always paper documents? Explain.
Identify several basic considerations in form design.
Identify a fundamental principle of form design that pertains to the features that appear on the form itself.
What are the functions of a form control unit? Why is forms control important in large organizations?
Why are records retention requirements an important consideration in systems design?
Identify several sources that list federal records retention requirements.
What is the major difference between computer batch processing and direct processing of transactions?
Describe how a writing board is used to process transactions.
Why is data validation important when computers are used to process transactions?
Discuss the importance of an accounting systems manual to(a) the training of new personnel.(b) the uniformity and consistency of reports.(c) an external audit.(d) the revision of an accounting
Figure 4-11 contains a schematic diagram of a one-write system. Identify the probable uses of forms \(A, B\), and \(C\) if the system is used for the following functions:(a) accounts payable(b)
Modify Figure 4-7 to illustrate ledger less bookkeeping when partial payments are made.Figure 4-7 Sales on Account Procedure Invoices in Numerical Order Batch Control Post to Control Account Batch
A form should permit the right thing to be done at the right time. What form would you want as proper authorization to perform the tasks that follow?(a) Assemble the items ordered by a customer and
The purchasing agent of the Hirz Company has approved the design of the purchase requisition in Figure 4-12. Criticize the design of the purchase requisition, limiting your comments to the original
The potential negative financial effect of an event multiplied by its probability of occurrence is a(n) ( ___________ ) .(a) control(b) exposure(c) hazard(d) risk
Fraud that benefits a company or organization, rather than the individual(s) who perpetrate the fraud, is known as ( ___________ ) .(a) white-collar crime(b) corporate crime(c) management fraud(d)
The responsibility for establishing and maintaining an internal control structure rests with ( ___________ ).(a) internal auditing(b) the treasurer(c) management(d) the controller
Which of the following is an element of an internal control process?(a) information and communication(b) reasonable assurance(c) internal audit function(d) management control methods
Which of the following limits the initiation of a transaction or performance of an activity to selected individuals?(a) authorization(b) approval(c) fidelity bond(d) audit trail
Computer master files and transaction files are maintained after the creation of an updated master file in case the current master file is corrupted. This is an example of ( ___________ ).(a)
Marking bills as "paid" to prevent duplicate payment is an example of ( ___________ ).(a) cancellation(b) backup(c) approval(d) endorsement
A meaningless total that is useful for control purposes only is called a(n) ( ___________ ).(a) line control count(b) hash total(c) document control total(d) amount control total
An imprest payroll checking account has a zero balance after all paychecks have been cashed. This type of control practice is an example of a(n) ( ___________ ) .(a) tickler file(b) upstream
Agreement or conspiracy among two or more people to commit fraud is known as ( ___________ ) .(a) dual control(b) complicity(c) intrigue(d) collusion
Distinguish between risks and exposures.
Identify several common business exposures.
What is corporate crime?
Does computer processing increase an organization's exposure to undesirable events?
List the basic elements of an internal control process.
Why are written procedures manuals control tools?
Differentiate preventative, detective, and corrective controls. Give an example of each.
What is the purpose of a forced vacation policy?
What is batch control?
Why is collusion a problem in internal control design?
Why is it important that the purpose and nature of internal control be communicated to employees within an organization?
Discuss the statement "The procedures did not fail, the people did."
What role do physical security devices have in a system of internal control?
Why has the importance of the internal audit function continued to grow?
Discuss the advantages and disadvantages of using a questionnaire or checklist in evaluating an internal control system.
Does filling out a questionnaire constitute an evaluation of internal controls?
What is an analytic flowchart? What is an applications control matrix?
Internal accounting controls are not designed to provide reasonable assurance that(a) transactions are executed in accordance with management's authorization.(b) irregularities will be eliminated.(c)
Internal control is a function of management, and effective control is based on the concept of charge and discharge of responsibility and duty. Which of the following is one of the overriding
Effective internal control requires organizational independence of departments. Organizational independence would be impaired in which of the following situations?(a) The internal auditors report to
Transaction authorization within an organization may be either specific or general. An example of specific transaction authorization is the(a) setting of automatic reorder points for material or
A system of internal accounting control normally would include procedures that are designed to provide reasonable assurance that(a) employees act with integrity when performing their assigned
When considering internal control, an auditor must be aware of the concept of reasonable assurance that recognizes that(a) the employment of competent personnel provides assurance that the objectives
Which of the following elements of an entity's internal control structure includes the development of personnel manuals documenting employee promotion and training policies?(a) control procedures(b)
Which of the following is not an element of an entity's internal control process?(a) control risk(b) control activities(c) information and communication(d) the control environment
Employers bond employees who handle cash receipts because fidelity bonds reduce the possibility of employing dishonest individuals and(a) protect employees who make unintentional errors from possible
A company holds bearer bonds as a short-term investment. Custody of these bonds and submission of coupons for interest payments normally is the responsibility of the(a) treasury function.(b) legal
Operating control of the check-signing machine normally should be the responsibility of the(a) general-accounting function.(b) treasury function.(c) legal counsel.(d) internal-audit function.
Internal control over cash receipts is weakened when an employee who receives customer mail receipts also(a) prepares initial cash receipts records.(b) records credits to individual accounts
For good internal control, the monthly bank statements should be reconciled by someone under the direction of the(a) credit manager.(b) controller.(c) cashier.(d) treasurer.
For good internal control, the person who should sign checks is the(a) person preparing the checks.(b) purchasing agent.(c) accounts payable clerk.(d) treasurer.
For good internal control, the credit manager should be responsible to the (a) sales manager.(b) customer service manager.(c) controller.(d) treasurer.
The authorization for write-off of accounts receivable should be the responsibility of the(a) credit manager.(b) controller.(c) accounts receivable clerk.(d) treasurer.
In general, material irregularities perpetrated by which of the following are most difficult to detect?(a) cashier(b) controller(c) internal auditor(d) data entry clerk
A well-designed system of internal control that is functioning effectively is most likely to detect an irregularity arising from(a) the fraudulent action of several employees.(b) the fraudulent
To provide for the greatest degree of independence in performing internal auditing functions, an internal auditor most likely should report to the(a) financial vice president.(b) corporate
The use of fidelity bonds may indemnify a company from embezzlement losses. The use also(a) reduces the company's need to obtain expensive business interruption insurance.(b) protects employees who
For good internal control, which of the following functions should not be the responsibility of the treasurer's department?(a) data processing(b) handling of cash(c) custody of securities(d)
Which of the following sets of duties would ordinarily be considered basically incompatible in terms of good internal control?(a) preparation of monthly statements to customers and maintenance of the
The Foreign Corrupt Practices Act requires that(a) auditors engaged to examine the financial statements of publicly held companies report all illegal payments to the SEC.(b) publicly held companies
Establishing and maintaining a system of internal accounting control is the primary responsibility of(a) management and the board of directors.(b) the internal auditor.(c) the external auditor.(d) a
Collusion appears to be ( __________ ) in a computerized versus manual system.(a) less likely(b) more likely(c) equally likely
Which of the following is an active threat to computer security?(a) computer sabotage(b) earthquake(c) equipment failures(d) power outages
Individuals who attack computer systems for fun and challenge are sometimes called ( __________ ).(a) duffers(b) geeks(c) hackers(d) flaggers
The interception of legitimate information and substitution of fraudulent information in its place is called ( __________ ).(a) EMI eavesdropping.(b) flagging(c) hacking(d) piggybacking
In most cases of computer fraud, ( __________ ) is the method used.(a) program alteration(b) input manipulation(c) direct file alteration(d) misappropriation or theft of computer resources
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