As noted in the introduction overview in Module 01, this course project demonstrates your understanding of an accounting information system analysis, implementation and how the system relates to other departments within a company. Your assignment for Module 02 consists of two parts:

Identify the weaknesses of the current system of internal control and how to address them. For each category in a balanced scorecard, note one key success factor to help achieve shareholder value.

Internal Control

In Module 01 you determined the departments and employees that you would like on your team to assist you in researching your accounting information system. This module you are preparing a summary of internal control weaknesses that may occur in each of those four departments.

Requirements:

Prepare a summary that identifies the department, the weakness or threat, and control that you will implement in the new system. Discuss at least three internal control weaknesses or threats in each of the four departments that you are working with (12 in total). Explain why a weakness exists and the steps that you will implement in your new system to address these issues. Provide an APA formatted title page. Include an APA formatted reference page if needed for any outside sources used.

An example of a weakness or threat in the general ledger and reporting system might be unauthorized disclosure of financial statements. Controls to respond to this weakness or threat include access controls and encryption.

Balanced Scorecard

While the balanced scorecard is not a new concept, it does offer a framework allowing managers to measure an enterprise's performance from four categories - financial, customer, business processes, and learning and growth. The balanced scorecard considers both financial and nonfinancial measures.

After researching the balance scorecard, for each of the four categories, identify at least one critical success factor for a firm to achieve shareholder value

The categories are

Human Resources

Accounting

Production

Sales

Administration