Hello there,

I need help with Finance discussion questions, please see attached details information.

Thanks,

MSFS 670 - Session 4 Social Technologies Social technologies allow us to \"connect seamlessly across the world\" (Klososky, 2012). Many of us are probably familiar with such social technologies as we have become accustomed to connecting with friends and sharing knowledge online. This semester, I'd like us to explore how finance and accounting organizations (including the AIS and IT Audit functions) are employing social technologies and the benefits and risks associated with such applications. Choose a minimum of two questions from the following and post your response in conference. Let's get good coverage on all the questions to inform Team Task #4. Let's also try to think beyond Facebook, to the new novel business applications, some of which are suggested in our readings. 1. 2. 3. 4. 5. From your own experience, what social technologies are your companies employing across the organization and for what purposes? If your company is employing social technologies specifically in the finance-accounting departments, what are they and what of some of the special features and functions? If your company IS NOT employing social technologies in the finance-accounting functions, which technologies might they consider and for what purpose? What are the benefits and risks associated with social technologies as used in financeaccounting functions? What makes such social technologies successful? Why might they fail in an organization? Other optional readings that you may find helpful: Accounting-Finance Teams Go Social; Tough Times, Social Technologies and the Innovative CIO MSFS 670 - Session 4 IT Governance and COSO OR Update on SOX - IT Governance and COSO As we implement our ERP and integrate into our existing organization accounting and IT infrastructures, it may be time to refresh on the topic of IT Governance. Read the items under Course Content in our Reading, Lecture and PowerPoint Directory for this session. Let's construct our understanding for these points through your contributions: 1. 2. 3. 4. 5. What seem to be the keys to good IT governance? How does having an ERP system affect a company's IT governance? What is a good definition of internal control? What are the three categories of control procedures we have in companies? Based on your understanding of the COSO framework, why is it important for companies to be familiar with it? OR Update on SOX As financial managers in charge of ERP systems, we need to be aware of what requirements may be in store for us under Sarbanes Oxley, especial in the area of Section 404. (Cite your sources.) Let's do some research and get up-to-date. 1. 2. 3. 4. 5. What is Section 404? What does this mean for a manager of ERP system in a public company? What does this mean for a manager of ERP system in a private company? What best practices does it promote? How does it impact the selection and management of our ERP