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business
accounting information systems

Questions and Answers of Accounting Information Systems

Which of the following statements is true regarding digital signatures?(a) They require the related message to be encrypted(b) They do not require the related message to be encrypted(c) They require
Encryption keys should be created and distributed at the ( __________ )(a) workstation level(b) department level(c) organization level(d) security office level
Which of the following is used to store digital cash on a personal computer?(a) electronic digest(b) digital-signing unit(c) virtual cash transporting system(d) none of the above
Preparing performance reports that contain data only about items that a specific organizational unit controls is an example of which of the following?a. flexible budget systemc. closing the booksb.
What is the business intelligence technique designed to discover non hypothesized relationships called?a. data warehousingc. data miningb. OLAPd. querying
Which of the following shows the implied linkages among the portions of the balanced scorecard? a. Financial Internal Innovation and learning Customer b. Innovation and learning Internal Customer
Writing a query to identify trends in sales of a product by salesperson and by customer over the past
years is an example of which of the following?a. data miningc. transaction processingb. responsibility accountingd. OLAP
Measures of cycle time would most likely appear in which part of the balanced scorecard?a. innovation and learningc. internal operationsb. customerd. financial
Which of the following is an important part of the audit trail?a. journal vouchersc. trial balanceb. flexible budgetsd. data warehouse
What is the new common business reporting computer language developed, in part, by the accounting profession called?a. XMLc. SQLb. XBRLd. HTML
How is XBRL-GL likely to affect the role of accountants in organizations?
Compare and contrast how auditors can use OLAP and data mining techniques to evaluate internal controls.
Some companies are abandoning the practice of budgeting because they claim that the costs outweigh the benefits. They argue that instead of comparing actual performance to budgeted standards, closely
Which control procedure would be most effective in addressing the following problems?a. When entering a journal entry to record issuance of new debt, the treasurer inadvertently transposes two digits
An important control procedure involves the periodic reconciliation of general ledger accounts with their subsidiary ledgers. Explain how this control procedure works in the context of accounts
Figure 14-1 is a context diagram for the general ledger and reporting cycle that shows the principal data flows to and from the general ledger.Requireda. List the source documents or journals
Refer to the example of responsibility coding depicted in Figure 14-4.Requireda. Design a coding scheme that will support the production of this set of reports. Make and state any assumptions you
Objective; Practice graph design principles Required Create bar graphs for each of the following data sets. Follow the principles for graph design presented in the chapter, or explain which rule(s)
Objective: Create pivot tables for what-if analysis Required Read the article “Make Excel an Instant Know-It-All” by Roberta Ann Jones in the March 2004 issue of the Journal of Accountancy. (You
Objective: How to do what-if analysis with graphs Requireda. Read the article “Tweaking the Numbers,” by Theo Callahan in the June 2001 issue of the Journal of Accountancy. (You can find the
Objective: Learn what you can do with XBRL Requireda. Read the article “Tap Into XBRL’s Power the Easy Way” by Jeffrey W. Naumann, in the May 2004 issue of the Journal of Accountancy and follow
The Darwin Department Store pays all of its employees on a salaried basis. Payroll processing is done internally. The payroll master file is maintained on disk. At periodic intervals every month, the
Learn how to import data into Access and Excel, and how to create and use pivot tables for detailed analyses.Requireda. Obtain the article “Drilling for Information” by Jeff Lenning, in the
Learn how to use text and array formulas to locate potential payroll problems.Requireda. Download the spreadsheet for this problem from the course Web site.b. On the timecards data worksheet, add a
Use your operating system’s built-in capability to encrypt a file. Store the enciy'pted file in a folder that can be shared with other users on that computer. Then create a new user account. Assign
Traditionally, accountants have been most involved with which portion of the HRM/payroll cycle?a. hiringb. payrollc. trainingd. performance evaluation
Which of the following statements is true?a. Financial statements report the value of employee knowledge and skills.b. Turnover and absenteeism are costly.c. Outsourcing of HRM and payroll functions
Online processing is most useful for which of these tasks?a. preparing payroll checksb. reconciling job-time tickets and time cardsc. paying payroll tax obligationsd. making changes in employee
Use of a payroll service bureau or a PEO provides all of these benefits except which of the following?a. integration of payroll and personnel data, such as job skillsb. lower cost of processing
Which control procedure would be most effective in detecting the failure to prepare a paycheck for a new employee before paychecks are distributed?a. validity checks on the employee number on each
This chapter noted many of the benefits that can arise by integrating the HRM and payroll databases. Nevertheless, many companies maintain separate payroll and HRM information systems. Why do you
Direct deposit both reduces the costs of and improves control over payroll dis¬ tribution. Does this mean that companies should require all their employees to be paid by direct deposit? Why or why
How does use of a separate payroll checking account improve control?
Most costs are locked in at which stage in the production cycle?a. product designb. production planningc. production operationsd. cost accounting
Which document lists the components needed to manufacture a specific product?a. operations listb. master production schedulec. bill of materialsd. production order
An increase in which component of quality costs is most likely to result in a decrease in the other three components?a. prevention costsb. inspection costsc. internal failure costsd. external failure
Activity-based costing can be used to refine which of the following?a. job-order costingb. process costingc. both job-order and process costingd. neither job-order nor process costing
How might the proportion of total quality control costs in each of the four components of quality control (prevention, inspection, internal failure, and external failure) vary for different types of
What are the advantages and disadvantages of using RFID technology to implement the specific identification method of accounting for inventory?
What are the advantages and disadvantages of “continuous improvement” performance reports? Why do you think some companies adopt this philosophy, but others do not?
What is the purpose of each of the following control activities?a. documenting the return of any scrapped products to inventory storesb. using an MPS to schedule productionc. periodically counting
The XYZ company sells approximately 900,000 gizmos annually. Each gizmo consists of 15 components. Management is currently evaluating which vendor to choose as the primary supplier of one of the
Task: Create a depreciation schedule to monitor your company’s investment in fixed assets.a. Your spreadsheet should have the following column headings:• Account number (5 digits, valid range
Task: Use Excel and the Solver add-in to explore the effect of various resource constraints on the optimal product mix.a. Read the article “Boost Profits With Excel,” by James A. Weisel in the
The ABC Company has collected the following data concerning performance in its manufacturing plant:Requireda. Prepare a traditional performance report (comparing actual to budget). Which processes
Create the spreadsheet on page 493 with formulas to calculate the total depre¬ ciation expense and to display the correct values in the columns: Age, Depreciation Rate, and Depreciation Expense.
Define flowcharting.
List and draw the basic flowchart symbols.
Flowchart symbols represent what aspect of a system?
What is the difference between a systems flowchart and an analytic flowchart?
A logical data flow diagram can be used to document what aspect of a system?
Why do auditors prepare analytic flowcharts of processing systems?
What important feature is common to analytic, document, and forms distribution charts?
Is flowcharting useful in analyzing the resources required to implement a system?
Relate the concept of work measurement to the system implementation process.
Symbol A could represent(a) computation of gross pay.(b) input of payroll data.(c) preparation of paychecks.(d) verification of pay rates.
Symbol B could represent(a) computation of net pay.(b) separation of erroneous time cards.(c) validation of payroll data.(d) preparation of the payroll register.
Symbol \(C\) could represent(a) batched time cards.(b) unclaimed payroll checks.(c) erroneous time cards.(d) an error report.
Which of the symbolic representations in Figure 2-24 indicates that a sales invoice has been filed?Figure 2.24 [a] [b] [c] [p]
During the review of an internal control system an auditor may review decision tables prepared by the client. A decision table is usually prepared by a client to supplement or replace the preparation
Which of the symbolic representations in Figure 2-25 indicate that a file has been consulted?Figure 2-25 [a] [b] [c] [p]
The following documents are used in the expenditure cycle: Vendor invoice Purchase order Disbursement voucher Purchase requisition Packing slip Receiving report Check Requireda. Identify which of
This project demonstrates how Excel can be used to create a variety of useful documents for small businesses.a. Read the article “A Do-It-Yourself Automated Invoicing System,” by Jacob M. Rose,
Modify Table 11-1 by indicating if each specific control procedure listed there is preventive (P), detective (D), or corrective (C) in nature. Table 11-1 Threats and Controls in the Expenditure Cycle
a. Expand the cash budget you created in Problem 10.4 to include a row for expected cash outflows equal to 77% of the current month’s sales.b. Also add a row to calculate the amount of cash that
The receiving department at Culp Electronics Company processes inventory deliveries upon arrival by means of online data terminals located on the receiving dock. Each inventory receipt entered into
The systems flowchart presented in Figure 11-12 and the following description summarize ConSport Corporation’s cash disbursements system:a. The accounts payable department approves all invoices for
Lecimore Company has a centralized purchasing department managed by Tawanda Mason. Tawanda has established policies and procedures to guide the cleri¬ cal staff and purchasing agents in daily
Branden Company, a midsize manufacturer of specialized machinery, follows these purchasing procedures:• Materials purchase requisitions are approved by manufacturing supervisors and then forwarded
Table 11-2 lists the various activities performed in the expenditure cycle and the journal entries, documents, data, and control issues associated with them. Complete each of the cell entries in this
a. Create a spreadsheet to reconcile bank statements. Organize it as follows:i. Ending balance, per bank statement ii. Deposits not included in bank statement (provide space for up to 7)iii. Checks
Match threats in the first column to appropriate control procedures in the second column. Threat 1. Failing to take available purchase discounts 2. Receiving unordered goods 3. Recording and posting
The term ( __________ ) describes the use of computer technology to provide decision-oriented information to managers.(a) data processing(b) electronic data processing(c) expert system(d) management
The text groups economic events into how many basic business processes?(a) one(b) four(c) six(d) nine
Which of the following indicates a satisfactory situation from the viewpoint of good internal control?(a) The cashier reports to the treasurer.(b) Payroll accounting reports to the controller.(c)
The statement "Amounts due to vendors should be accurately and promptly classified, summarized, and reported" might serve as a control objective in which of the following transaction cycles?(a)
Which of the following information system functions is generally responsible for the design, coding, and debugging of computer programs?(a) technical support(b) programming(c) operations(d) systems
Which of the following information system functions focuses on the identification of problems and projects for computer processing?(a) user support(b) programming(c) operations(d) systems analysis
Which of the following is a general term that is used to describe the use of electronic technology for business documents?(a) telecommuting(b) information system(c) office automation(d) electronic
( __________________ ) is the direct computer-to-computer exchange of business documents via a communications network.(a) electronic data interchange(b) electronic funds transfer(c) telecommuting(d)
The three general phases of analysis, design, and implementation are part of a ( _________________ ).(a) system development study(b) systems approach(c) expert system(d) decision support system
( ____________ ) is the first step in the systems approach. (a) systems design(b) stating objectives(c) systems analysis(d) systems evaluation
What groups need the outputs of an accounting information system?
Identify the four common operating cycles of business activity.
Characterize an organization's internal control structure.
Distinguish between a controller and a treasurer.
Describe the purpose of the internal audit function.
Characterize the organizational structure of the information system function.
What is the purpose of a steering committee?
Describe blueprinting.
Give an example of end-user computing (EUC).
Identify several components of quick-response technology.
How does EDI differ from e-mail?
Identify several components of computer-integrated manufacturing (CIM).
What is meant by user-oriented systems design?
The group concerned with establishing standards for flowchart symbols is ( _______________ )(a) ASCII(b) EBCDIC(c) ANSI(d) AICPA
A pictorial or graphical representation of the overall flow of work, documents, and operations in an application system is shown in a(n) ( _____________ ).(a) IPO chart(b) forms distribution chart(c)
Which type of diagram emphasizes the physical description of a system?(a) analytic flowchart(b) logical data flow diagram (DFD)(c) HIPO(d) IPO
ANSI X3.5-1970-the information system flowcharting standards published by the American National Standards Institute-defines four groups of flowchart symbols and illustrates conventions regarding

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