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business
accounting information systems

Questions and Answers of Accounting Information Systems

What are electronic bill presentment and payment (EBPP) systems? How do they reduce costs and accelerate cash flows?
Describe several ways that companies have reduced the float connected with cash receipts.
What is lapping? What controls can prevent or detect lapping?
What is a remittance advice (RA)?
What is accounts receivable master data?
What are the major features of a balance-forward and an open-item accounts receivable system?
What are the differences between a post-billing system and a pre-billing system?
What characterizes a valid shipping notice and invoice?
What are the key controls associated with the billing business process?Explain each control.
What characterizes a valid RA (i.e., cash receipt)?
What are the key controls associated with the cash receipts business process?Explain each control.
Describe the impact that entity-level controls (i.e., control environment, pervasive controls, general/IT general controls) can have on the B/AR/CR business process controls.
What is the purchasing process?
What primary functions does the purchasing process perform? Explain each function.
With what internal and external entities does the purchasing process interact?
What are the fundamental responsibilities of each position: purchasing manager, buyer, and receiving supervisor?
Describe supply chain management (SCM).
Describe the five basic components of the Supply Chain Operations Reference(SCOR) model.
How does SCM software support SCM?
Describe Vendor Managed Inventory (VMI), Co-Managed Inventory, Collaborative Forecasting and Replenishment (CFAR), and Collaborative Planning Forecasting and Replenishment (CPFR).
What is the bullwhip effect?
What three major logical processes does the purchasing process perform?Describe each process.
Describe how radio-frequency identification (RFID) works.
What types of frauds are typically found in the purchasing process?
What are the typical effectiveness goals of the purchasing process? Provide an example illustrating each goal.
What characterizes a valid PO input? What characterizes a valid vendor packing slip input?
What are the key control plans associated with the purchasing process?Describe how each works and what it accomplishes.
Describe the impact that entity-level controls (i.e., control environment, pervasive controls, and general/IT general controls) can have on the effectiveness of purchasing business process controls.
What is the AP/CD process?
What primary functions does the AP/CD process perform? Explain each function.
With what internal and external entities does the AP/CD process interact?
What are the fundamental responsibilities of the accounts payable department and the cashier?
What major logical processes does the AP/CD process perform? Explain each.
Describe how the processing of noninvoiced disbursements is handled in(a) a “true” voucher system and (b) a nonvoucher system.
What data is contained in the purchasing events data, the accounts payable master data, and the cash disbursements event data?
What are e-invoices and e-payments?
How does EDI improve the effectiveness and efficiency of the AP/CD process?
What is EIPP? How does it improve the efficiency and effectiveness of the AP/CD process?
What are two operations process (effectiveness) goals of the AP/CD process?Provide an example illustrating each goal.
What characterizes a valid vendor invoice input? What characterizes a valid payment input?
What are the key control plans associated with the AP/CD process?Describe how each works and what it accomplishes.
Describe the impact that entity-level controls (i.e., control environment, pervasive controls, and general/IT general controls) can have on the effectiveness of AP/CD business process controls.
What is human capital management (HCM)?
What does “human capital” include?
What is the human resources management process? What functions and activities does the process perform?
What is the payroll process? What functions and activities does the process perform?
What is the relationship between the HR process and the payroll process?
What role does each HR manager listed in Figure 14.2 (pg. 526) play? FIGURE 14.2 Organization Chart of the HR Function Manager of safety, health services, and benefits Manager of employee and
What key decisions do the HR managers shown in Figure 14.2 make? FIGURE 14.2 Organization Chart of the HR Function Manager of safety, health services, and benefits Manager of employee and industrial
Describe an employee self-service system.
What are the principal inputs and outputs of the HR management process as reflected in the systems flowchart in Figure 14.4 (pg. 531)? FIGURE 14.4 Human Resources Management Process Systems Flowchart
What data does the HR management process use? Describe the purpose of each.
How are the tax rates data and the employee/payroll master data used by the payroll process?
What are an attendance time record and a job time record? How is each used by the payroll process?
What are the major logical functions the payroll process performs? Be sure to consult the logical DFDs presented in the chapter.
What classes of general ledger journal entries are generated by the payroll process?
What are four major types of payroll fraud schemes?
What are four procedures that can be used to prevent or detect payroll fraud schemes?
What is the purpose of each control plan listed in the control matrix(Figure 14.10, on pp. 544–545) FIGURE 14.10 The Payroll Process Control Matrix Recommended control plans Present Controls P-1:
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
Find and describe an instance of payroll fraud (you may use the Internet, newspapers, or other news sources). How was the fraud committed? How was it detected? What was the control weakness that
How has global competition impacted the domestic manufacturing environment?How can technology help domestic companies compete?
Explain the three key drivers of complexity in manufacturing operations in the new millennium.
Describe the three key characteristics of companies that successfully manage global complexity.
What is the role of product innovation and product life-cycle management (PLM) in helping manufacturing companies compete in the global arena?
What are the differences between push manufacturing and pull manufacturing?
How does supply chain management (SCM) help organizations improve their competitiveness, especially in a manufacturing organization?
What important trends have occurred during the past few decades in cost management and cost accounting?
What are the roles of the order entry/sales (OE/S) and inventory management processes in the IPP?
What are the steps in the IPP, and what happens at each step?
Describe the importance of both activity-based costing (ABC) and product life-cycle costing for managing IPP.
From the inventory perspective, what is the advantage of producing goods as customer orders are received?
What is global inventory management, and how can it be used to increase the capability of a company to deliver goods on a timely basis and manage inventories?
a. How are a bill of materials (BOM) and a routing master similar? How are they different?b. What does “exploding a BOM” mean?
What are some of the components of flexible manufacturing systems(FMS), and how do they work?
What are some of the characteristics and advantages of a JIT system?
How are materials requirements planning (mrp), detailed capacity requirements planning (CRP), and shop floor control (SFC) similar? How are they different?
How is information generated about the IPP used for managing the IPP as well as other business processes?
What are the key processes, data, and data flows in the cost accounting system for variance analysis of a manufacturer that uses a standard cost system?
Why is inventory management and control important to the manufacturing and production processes?
How would a company gain (short term) from a fraudulent overstatement of inventories?
Research inventory fraud cases, and write a paper on a case you find interesting (your instructor will provide guidance regarding the paper’s length). At a minimum, you should include the following
What are the primary functions the GL/BR process performs?
What, in your own words, does business reporting entail?
What are the fundamental responsibilities of each of the following positions or departments: business reporting department, budgeting department, financial reporting officer, managerial reporting
What, in your own words, are a performance report and the responsibility accounting/reporting model?
What major logical processes does the GL/BR process perform?
Why is the hierarchical coding system a good fit for the general ledger system?
What limitations are faced by contemporary accounting systems applying traditional general ledger account structures?
In your own words, how do ERP financial modules facilitate the GL/BR process?
In your own words, how do ERP systems facilitate balanced scorecard and business intelligence?
Why is XBRL so important to efficient Web-based business reporting?
How does the Sarbanes-Oxley Act of 2002 affect the GL/BR process?
What process is used to monitor controls and events to provide assurance in real-time? Why has the internal auditor been the main driver of the process?
What two groups of information users are interested in real-time reporting?
Design a chart of accounts for an international distribution company’s income statement. Include flexibility to allow reports by country, division, and type of sale (wholesale and retail). You do
Many business events are recorded in the general ledger from feeder processes.The first list below identifies eight business events. The second list specifies five feeder processes. Match the events
What is systems development?
What is the systems development life cycle (SDLC)?
What is the systems development life cycle (SDLC) methodology?

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