BKAS 2013 FINAL ASSESSMENT GUIDELINE (INDIVIDUAL) GENERAL REPORT GUIDELINE:

1. This assessment is replacing the final examination comprises of 50% of total marks. It consists of 2 parts to be released and submitted separately.

2. The answers should be written in English. Please use (Times.New.Roman), Font size 12, Margin 2.5cm or 1 inch, (Double.spaced), Page numbering and Justified format.

3. Numbering format should be consistently applied to questions and subquestions throughout the report.

4. Maintain originality of your writing as the submitted assignment will go through a (plagia.rism) check (Tur.nitin).

5. Where specified in selected questions, the referencing guideline that follows are applicable. Students need to list a minimum of THREE (3) relevant references to support the discussion for the questions.

6. The preferred references should be taken from reputable websites and must be published in 2010 onwards.

7. Students could make use of the University's online database (e.g., Ebscohost, Emerald Management Plus, ACM Digital Library, etc.) or Google Scholar to locate relevant supporting references.

8. Submit a soft copy of the report via the UUM Online Learning System. Name the file with the following format:

A201 BKAS2013 ACCOUNTING INFORMATION SYSTEMS FINAL ASSESSMENT PART 1 [MATRIC NO] [NAME] [LECTURE GROUP]

Example: A201 BKAS2013 ACCOUNTING INFORMATION SYSTEMS FINAL ASSESSMENT PART 1 200300 ALI BIN AHMAD GROUP A 9. The release and submission dates are as follows: Release Date Submission Date Part 1: 23 December 2020 Part 1: 29 December 2020 (before 23:59) BKAS2013 ACCOUNTING INFORMATION SYSTEMS 1 QUESTION 1 (25 MARKS) A. Discuss THREE (3) reasons why business information should be appropriately managed. (6 Marks) B. The Fourth Industrial Revolution (IR4.0) is borderless. Many bookkeepers and low-level accountants whose primary daily tasks are recording business transactions for accounting entities are expected to lose their jobs due to automation in the coming decade. REQUIRED: Do you agree with the above statement? Elaborate your answers by providing THREE (3) justifications. (7 Marks) C. Meencha Company has twenty independent companies throughout Asia, covering the whole value chain of oil and gas exploration, production, and selling. The company's finance system is split into 20 independent accounting departments, which are operating multiple instances of four ERP systems, with over one hundred accountants throughout the countries. The consolidation functions used Malaysian accounting standards in Meencha Company's Headquarter in Kuala Lumpur, with a year-end closure often taking as long as seven months. The management later decided to implement a centralized shared service centre for its finance and information technology (IT). Kuala Lumpur is chosen as a suitable location. A corporate-wide SAP solution is identified to achieve Group-wide consistency based on an existing process model. In the process, however, they foresee some of the potential challenges that would be faced by the company.

REQUIRED:

Advise FOUR (4) potential challenges that Meencha Company might be facing while implementing the shared services. (12 Marks) BKAS2013 ACCOUNTING INFORMATION SYSTEMS 2 QUESTION 2 (25 MARKS) A. The fraud triangle is a model for explaining the factors that cause an individual to commit fraud in an organization. In relation to the fraud triangle model, explain how fraud occurs. Provide ONE (1) relevant example for each component in the model. (5 Marks) B. SpeeDIY Sdn. Bhd. is an online Do-It-Yourself (DIY) store located in Sintok that provides home delivery of DIY products purchased via the Internet. SpeeDIY uses a fully integrated accounting system and practices automated Economic Order Quantity (EOQ) model in managing its inventory. For each registered item in the inventory database, the system specifies quantity on hand and desired quantity on hand. When the quantity on hand falls below the desired quantity on hand, a notification automatically pops up on the purchasing clerk's computer screen, alerting the clerk to reorder the item. The purchasing clerk can proceed with the reordering of items simply by checking the acceptance box. When the acceptance box is checked, the purchase order transaction file is created. In addition, the vendor is notified electronically through a transmission from the purchasing system. The purchasing clerk prepares a purchase summary report to his manager at the end of the day. SpeeDIY warehouse has a large spacious area and stores massive quantities of inventory. There are three access doors which are opened at 8 a.m. and locked at 5 p.m. every day. Item ordered will be delivered through the main access. Every day, a high volume of items ordered are received and managed by a warehouse manager and a clerk. Due to a limited number of employees in the warehouse, staff from other departments often called to assist in receiving and storing the received items. When the items are received from the vendor, a packing slip is attached. The warehouse clerk keys in the purchase order number to retrieve the electronic purchase order from the system and accepts the purchase order as appears on the screen. The system then generates receiving the summary report and updates inventory master files. Bar codes, which are automatically printed in the warehouse department, are used to label the boxes received. The items are stored in the warehouse. BKAS2013 ACCOUNTING INFORMATION SYSTEMS 3 Upon acceptance, accounts payable balances are updated automatically. As agreed with suppliers, all payments are due within seven days after receipt of shipped items. When a payment is due, a screen pops up in the account payable clerk's computer notifying that a payment is to be made. The account payable clerk connects to SpeeDIY's electronic banking system via the bank's website and initiates payments to all vendors via electronic transfers. A confirmation number is received from the bank simultaneously when entering the payment transaction and the account payable clerk enters the confirmation number into the SpeeDIY's computer and the account payable balances are updated.

REQUIRED

(a) Identify FOUR (4) control weaknesses in the purchasing systems of SpeeDIY Sdn. Bhd. (4 Marks) (b) Indicate ONE (1) possible risk exposures for each weakness in (a). (4 Marks) (c) Suggest ONE (1) improvement in the internal control procedures to minimize each risk in (b). (4 Marks) Please use the following format to answer questions (a), (b) and (c) above. (a) Control Weaknesses (b) Risk Exposure (c) Internal Control (d) Suggest FOUR (4) input controls to ensure data input integrity in SpeeDIY's purchasing and cash disbursement system. (2 Marks) BKAS2013 ACCOUNTING INFORMATION SYSTEMS 4 (e) For each suggestion in (d), define and provide ONE (1) appropriate example to support your answer. (6 Marks) Please use the following format to answer questions (d) and (e). (d) Input Control (e) Definition (e) Example