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accounting information systems
Questions and Answers of
Accounting Information Systems
Who are some typical users of accounting information?
Give one reason why off-the-shelf accounting software was among the earliest software available commercially.
Are separate software or information systems necessary to match the needs for financial accounting information and management accounting information?
Would you expect all accounting software to offer multi-currency functions?
If a business records an expense, e.g. a utility bill, this is only relevant to financial accounting and the financial statements. Do you think this is true with respect to how software like an ES
How have developments in accounting information systems affected the roles of accountants in business?
Describe the main features of an ES.
List and describe the main internal drivers of organisational change.
List and describe the main external drivers of organisational change.
Explain the terms hard and soft systems changes.
Explain the terms minor and major systems changes.
Describe the purpose of the SDLC.
Explain the main steps of the SDLC.
Describe briefly the four steps of the systems analysis phase of the SDLC.
Describe three ways systems can be implemented.
Why is the review stage of the SDLC important?
List and briefly explain some systems development methodologies which are alternatives to the SDLC.
Explain the four main steps in managing an information systems project.
Explain critical path analysis and explain why it is useful for managing information systems projects.
Perform a web search to find an example of an information systems project which failed. Discuss why the project failed and link the reasons to steps in the SDLC to see what should have been done.
Given the information below and the Gantt chart layout provided in Microsoft Excel format on the book’s website or similar tools at this link
Explain a business process.
How does ES software differ from previous software such as MRP and MRPII?
List the key three business processes within a typical ES like SAP.
Describe what are the general features of ES software.
Explain what the term best of breed means.
As a typical example of the functionality of an ES, list the main modules of SAP ERP.
Describe the main functions of the financial accounting and management accounting modules of SAP ERP.
Why does an organisation typically have to change its business processes when implementing an ES?
Explain the term chart of accounts. Explain the role accountants may have in creating one for an ES implementation.
Is it necessary to configure a detailed cost and revenue centre structure in an ES? Explain why or why not.
List some examples of the additional audit risks posed by an ES system.
‘The typical accounting function in an organisation will have to make some changes to how it does things after the ES implementation’. Explain this statement, providing some examples.
Choose two organisations that use an ES. One organisation should be a product/manufacturing company, the other a service/public/government organisation. For each chosen organisation, discuss, using
Choose any large organisation you are familiar with – you could use one of the organisations from item 1 above. Discuss what responsibility centres (cost centres and revenues centres) it might
Search the internet for examples where ES implementations were not as successful as planned.One story can be found at this link
What is a systems interface?
Are all systems interfaces between internal organisational information systems? Explain.
List and explain some key systems interface design principles.
Explain the types of controls which ensure systems interfaces are as expected and work correctly.
Explain the term customer relationship management (CRM).
List and briefly explain some examples of integrating with customer information systems.
List and briefly explain some examples of integrating with supplier information systems.
If an organisation wishes to interface to banking systems to pay suppliers or employees, can it create an interface any way it wishes?
Explain the term data analytics.
Explain the term big data.
Do accountants have a role to play in data analytics?
Consider any organisation you are familiar with which has not been mentioned in this chapter. It does not matter if the organisation is a product or service type organisation, or operates locally or
Using a Google (or similar) search, search for terms such as ‘accounting and data analytics’, ‘big data and accounting’ and other similar terms. Discuss any articles or reviews you find in
Choose a bank or financial institution you are familiar with. Using the bank’s website and/or promotional material, try to establish what services the bank can offer its customers in terms of
What does internet financial reporting mean?
How do organisations use the internet to report financial reporting data?
Why is an agreed standard for financial reporting in electronic means necessary?
What are the key attributes of any standard for financial reporting using the internet or electronic means?
What is a mark-up language?
Briefly describe how tags are used in mark-up languages.
What is a taxonomy?
Explain briefly how a taxonomy is used in XBRL.
What is the key difference between XBRL and iXBRL?
Can XBRL be used in ways other than financial reporting?
Choose the websites of two large public companies or organisations you are familiar with. Review their investors’ (or similar) web pages and discuss and compare what each does in terms of financial
Research how governments and/or regulatory authorities in your country currently use XBRL.Discuss any potential benefits that can be obtained by its use.
Briefly explain the main accounting requirements of smaller businesses.
What are the advantages of maintaining accounting records manually?
What are the disadvantages of manual accounting records?
Does the use of office automation software offer any advantages in maintaining accounting records over manual records?
What is the primary advantage of using accounting software over manual records?
What other advantages might accounting software offer a smaller business?
Describe the typical features and functions you might expect to find in accounting software designed for smaller businesses.
Outline some of the key questions a smaller business needs to address to find the most suitable accounting software product for its needs.
Earlier in this chapter you were introduced to Quick books software. As a group, do a web search for accounting software used by small business. Your search will likely give many choices, some of
Think of a small business you are familiar with – perhaps some family or friends may be able to assist you. Determine what the business does based on your knowledge and/or other sources such as the
Why do accountants need to be concerned with technological change at all?
Briefly list some effects the advent of the internet had on business.
How does technology devolve accounting information? Give some examples.
Do accountants need to learn new skills as technology advances? Give some examples of the types of skills accountants might currently need.
Are technological advances still of concern to accountants today in the internet world we live in?
What does the term information technology mean?
What is hardware?
What is a network?
What is the difference between a local area network and a wide area network?
Is the internet a network? Why or why not?
Explain the term logical security, citing some examples in your answer.
Do organisations need to protect their physical information systems hardware and the data contained thereon? Why?
Does an organization that stores personal information on individuals have any duties to protect that information? Explain.
Should a business have a continuity plan for its information systems? Why?
What does ‘redundant’ hardware mean? Is this an unnecessary cost to a business?
Two commonly used frameworks developed by COSO are COSO 2013 internal control framework and the COSO ERM 2017 framework. What are the differences between the two frameworks?
Interview an HR manager (either by phone or in person). You should ask about the interviewee's job functions, types of decisions that are made, and information needs. Write a paper describing what
This problem is a continuation of Problem 5-1.a. “Search” the database for all customers with a specific state (choose a state that is common to at least two but not to all of your customers).
This problem is a continuation of Problem 5-1.a. Write a “program” to enter customer order amounts into the database and to have the system either warn the user if the new order places the
Using ISACA publications or the Internet, find out how COBIT 5 and the Balanced Score Card (BSC) are related.
What is ecological balance and how is it related to life cycle analysis? (For this question and Question 10-24, refer to the box ‘The concept of ecological balance’ earlier in this
Refer to question 10-34. The photocopier manufacturer last year reported selling 60 000 photocopiers using 150 000 kilograms of material and achieving sales of \($30\) million. In their
6 Ingredients produces a single cookbook. The cost of producing and selling one book at the company’s normal activity level of 8000 books per month is as follows:The normal selling price is \($22\)
Consider again the plight of Jenny, the manager at DeFlava Coffee Corporation, whose boss wants to manufacture and sell the new Decaffi Bean coffee product, perhaps using it to replace the Double
How does the format of the income statement shown in Case Exhibits 2.12, 2.13 and help internal decision makers perform cost–volume–profit (CVP) analysis?Case Exhibits 2.12Case Exhibits 2.13 $ 9
List external users who need financial accounting information about a business? List five external users and discuss the type of information that each might require.
What does GAAP mean? Why is this important when financial statements are being prepared for a business?
What is the difference between an accounting entity and a legal entity?
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