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accounting information systems
Accounting Information Systems 5th Edition James A. Hall - Solutions
Define economic events.
Define economic agents.
What is represented by the labeled lines connecting entities in an ER diagram?
Value chain analysis distinguishes between which two primary activities?
Define operating event.
Define information event.
Define decision/management event.
What criteria do you apply when deciding which operating events are to be included in an REA model?
What form of questions do you use to identify the resources and agents involved in each event?
List the steps involved in preparing an REA model of a business process.
What do you need to do to prepare an REA model for use in the development of a relational database?
The following contains the various steps of the financial reporting process. Place these steps in the proper order and indicate whether each step is a function of the TPS, GLS, or FRS. Record transaction in special journal Make adjusting entries Capture the transaction Prepare the post-closing
Devise a coding scheme using block and sequential codes for the following chart of accounts for Jensen Camera Distributors. Cash Accounts Receivable Office Supplies Inventory Prepaid Insurance Inventory Investments in Marketable Securities Delivery Truck Accumulated Depreciation-Delivery Truck
Devise a coding scheme for the warehouse layout below. Be sure to use an appropriate coding scheme that allows the inventory to be located efficiently from the picking list.
Leslie Epstein, an employee of Bormack Manufacturing Company, prepares journal vouchers for general ledger entries. Due to the large number of voided journal vouchers caused by errors, the journal vouchers are not prenumbered by the printer; rather, Leslie numbers them as she prepares each journal
Crystal Corporation processes its journal vouchers using batch procedures similar to the process outlined. To improve customer satisfaction, the sales system is going to be converted to a real-time system. Reflect this change in the financial reporting process.
The top management team at Olympia, Inc., wishes to have real-time access to the general ledger. Currently the general ledger is updated nightly via a batch processing system, similar in the text. Adjust to accommodate this request by top management, assuming that the nightly updates to the general
Expand 8-6 to incorporate the journal voucher listing and general ledger change report as control mechanisms. Also discuss the specific controls they impose on the system.
Prepare an organizational chart for your university. (Your campus phone directory catalogue may be helpful.)
Classify the following decisions as being characteristic of strategic planning, tactical planning, managerial control, or operational control. Determining the mix of products to manufac- ture this year Examining whether the number of defective goods manufactured is within a certain range
Classify the following reports as being either scheduled or on-demand reports. Cash disbursements listing Overtime report Customer account history Inventory stockout report Accounts receivable aging list Duplicate paycheck report Cash receipts listing Machine maintenance report Vendor delivery
Relco Industries recently purchased Arbeck, Inc., a manufacturer of electrical components used by the construction industry. Roland Ford has been appointed as chief financial officer of Arbeck and has been asked by Martha Sanderson, president of Relco, to prepare an organizational chart for his
Barnes Corporation recently purchased Parker Machine Company, a manufacturer of sophisticated parts for the aircraft industry. Donald Jenkins has been appointed vice president of production of Parker and has been asked by Beverly Kiner, president of Barnes, to prepare an organizational chart for
While attending night school to earn a degree in computer engineering, Stan Wilson worked for Morlot Container Company (MCC) as an assem- bly line supervisor. MCC was located near Wilson's hometown and had been a prominent employer in the area for many years. MCC's main product was milk cartons
The Star Paper Division of Royal Industries is located near Los Angeles. A major expansion of the division's only plant was completed in April 2004. The expansion consisted of an addition to the existing building, additions to the production- line machinery, and the replacement of obsolete and
Family Resorts, Inc., is a holding company for several vacation hotels in the northeastern and mid- Atlantic states. The firm originally purchased several old inns, restored the buildings, and upgraded the recreational facilities. The inns have been well received by vacationing families because
Some executives believe that it is extremely impor- tant to manage "by numbers." This form of man- agement requires that all employees with departmental or divisional responsibilities spend time understanding the company's operations and how they are reflected by the company's financial reports.
Engineers Education Association (EEA) is a volun- teer membership organization providing educational and professional services to its members. The professional staff is organized into four divisions with a total of 14 operating departments. EEA adopted an annual budget program many years ago as a
Sequential access means thata. data are stored on magnetic tape.b. the address of the location of data is found through the use of either an algorithm or an index.c. each record can be accessed in the same amount of time.d. to read record 500, records 1 through 499 must be read first.
A chart of accounts would best be coded using a(n) coding scheme.a. alphabeticb. mnemonicc. blockd. sequential
Which of the following statements is NOT true?a. Sorting records that are coded alphabetically tends to be more difficult for users than sorting numeric sequences.b. Mnemonic coding requires the user to memorize codes.c. Sequential codes carry no information content beyond their order in the
Which file has as its primary purpose to present comparative financial reports on a historic basis?a. journal voucher history fileb. budget master filec. responsibility filed. general ledger history file
Which of the following statements is true?a. Journal vouchers detailing transaction activity flow from various operational departments into the GLS, where they are independently reconciled and posted to the journal voucher history file.b. Journal vouchers summarizing transaction activity flow from
Which of the following statements best describes a computer-based GL/FRS?a. Most firms derive little additional benefit from a real-time FRS.b. Batch processing is typically not appropriate for transaction processing of GLS.c. The sequential file approach is an inefficient use of technology.d. A
A coding scheme in the form of acronyms and other combinations that convey meaning is a(n)a. sequential code.b. block code.c. alphabetic code.d. mnemonic code.
Which of the following is NOT a potential exposure of the FRS?a. a defective audit trailb. general ledger accounts that are out of balance with subsidiary accountsc. unauthorized access to the check registerd. unauthorized access to the general ledger
Which task should the general ledger perform?a. update the general ledgerb. prepare journal vouchersc. have custody of physical assetsd. have record-keeping responsibility for special journals of subledgers
CMA Adapted Hersh Company uses a performance reporting system that reflects the company's decentralization of decision making. The departmental performance report shows one line of data for each subordinate who reports to the group vice president. The data presented show the actual costs incurred
CMA Adapted All of the following are characteristics of the strategic planning process except thea. emphasis on both the short and long run.b. analysis and review of departmental process.c. review of the attributes and behavior of the organization's competition.d. analysis of external economic
CMA Adapted Kallert Manufacturing uses budgets only as a planning tool. Management has decided that it would be beneficial to also use budgets for control purposes. To implement this change, the management accountant musta. appoint a budget director.b. organize a budget committee.c. develop
CMA adapted The budgeting process should be one that motivates managers and employees to work toward organizational goals. Which of the following is least likely to motivate managers?a. setting budget targets at attainable levelsb. participation by subordinates in the budgetary processc. use of
CMA adapted Wong Company uses both strategic planning and operational budgeting. Which of the following items would normally be considered in a strategic plan?a. setting a target of 12 percent return on salesb. maintaining the image of the company as the industry leaderc. setting a market price per
CMA adapted Long-range planning as a management function is more importanta. at top management levels.b. at middle management levels.c. at lower management levels.d. for staff functions than line functions.e. for line functions than staff functions.
CMA adapted The basic purpose of a responsibility accounting system isa. budgeting.b. motivation.c. authority.d. variance analysis.e. pricing.
CMA adapted A segment of an organization is referred to as a profit center if it hasa. authority to make decisions affecting the major determinants of profit, including the power to choose its markets and sources of supply.b. authority to make decisions affecting the major determinants of profit,
A segment of an organization is referred to as an investment center if it hasa. authority to make decisions affecting the major determinants of profit, including the power to choose its markets and sources of supply.b. authority to make decisions affecting the major determinants of profit,
How can a poorly designed database result in unintentional loss of critical records?
Does a user view always require multiple tables to support it? Explain.
Discuss the importance of the role of the database administrator. In the flat-file environment, why is such a role not necessary? What are the tasks performed by the DBA?
Why is a separate link table required when a M:M association exits between related tables?
In a relational database environment certain accounting records (e.g., journals, subsidiary ledgers, and event general ledger accounts) may not exist. How is this possible?
Explain how to link tables in (1:1) association. Why may this be different in a (1:0,1) association?
Diagram the sequence in which the following source documents are prepared.a. bill of materialsb. work orderc. sales forecastd. materials requisitione. move ticketf. production schedule g. route sheet
Out Camping is a manufacturer of camping sup- plies and has several divisions, one of which is the tent division. Away From Home is the deluxe tent produced by the tent division; 14,000 of these tents are made each year. This model of tent incorporates two zipping doors in each model. Zippers for
Examine the flowchart on the next page and determine any control threats. Specifically discuss the control problems, the possible dangers, and any corrective procedures you would recommend.
Consider a pizzeria that sells pizza, pasta, lasagna, meatball sandwiches, and sodas. Discuss the methods in which the products would be manufactured undera. the traditional manufacturing environment.b. CIM.
Playthings, a toy manufacturer specializing in toys for toddlers, is considering switching to a JIT manufacturing process. The CEO has been talking with the production consultants, who tell her that a new philosophy must be embraced: if a defective part of an out-of-control process is detected, no
Cut It Up, Inc., is a manufacturer of wooden cut- ting boards that are sold through a chain of kitchen stores. For years, the company has allocated over- head based on total machine hours. A recent assessment of overhead costs has shown that these costs are now in excess of 40 percent of the
Choose a manufactured product (e.g., an automobile or bicycle) and write an essay explaining the implications of underlying JIT assumptions on the manufacturing process of this product.
What are some of the more common uses of data codes in AIS?
What are the 11 steps, in order, of the financial reporting process?
What are the purposes of an audit trail? What is meant by a defective audit trail? How can a defective audit trail be prevented?
What is data mining?
Sometimes a trade-off must be made between information accuracy and timeliness. Give an example where it is imperative to make an estimate now, rather than wait a couple of weeks for an exact number.
Figure 8-13 illustrates both upward and down- ward flows of information. What are the downward flows and their purpose? What about the upward flows? Are the downward and upward flows related?
What is a world-class firm? What characteristics do world-class information systems need to have to provide sufficient information to world-class firms?
What activities are involved in the production system? The cost accounting system?
What three main functions does inventory control serve in the production process?
What are the four operating characteristics U.S. manufacturing firms need to incorporate to regain their competitive advantage?
Upon what assumptions does the JIT method heavily depend?
Distinguish between CAD and CAM.
How have U.S. manufacturers adjusted their emphasis in response to competitive factors since the mid-1970s?
What is meant by manufacturing flexibility and how do firms achieve it?
Explain how CAD can contribute to a firm's move toward world-class status.
Explain how CAM can contribute to a firm's move toward world-class status.
Explain how JIT can reduce inventory.
Which of the following is not an advantageous reason to reduce inventories?a. Inventories provide a competitive advantage.b. Inventories can invite overproduction.c. Inventories are expensive to maintain.d. Inventories may conceal problems.e. All of these are good reasons to reduce inventories.
Which of the following is not a benefit of JIT purchasing?a. Increased cash discounts on purchases.b. A reduction in the number of suppliers.c. A reduction in purchasing paperwork through the use of longer-term contracts with suppliers.d. Less checking on quality and quantity of goods received from
All of the following are problems with traditional accounting information except:a. Managers in a JIT setting require immediate information.b. The measurement principle tends to ignore standards other than money.c. Variance analysis may yield insignificant values.d. The overhead component in a
Benefits of an MRP II system may include all of the following excepta. reduced inventory investment.b. improved cash flow.c. higher quality goods.d. Higher quality service.e. Greater flexibility in the production process.
Which of the following is NOT an operational characteristic incorporated into manufacturing flexibility?a. Reduction of inventories.b. High product quality.c. Reduction of accounts receivables.d. Automation of the manufacturing process.
When the goods are received and the receiving report has been prepared, which ledger may be updated?a. standard cost inventory ledgerb. inventory subsidiary ledgerc. general ledgerd. accounts payable subsidiary ledger
Which statement is NOT correct for an expenditure system with proper internal controls?a. Cash disbursements maintains the check register.b. Accounts payable maintains the accounts payable subsidiary ledger.c. Accounts payable is responsible for paying invoices.d. Accounts payable is responsible
Which duties should be segregated?a. matching purchase requisitions, receiving reports, and invoices and authorizing paymentb. authorizing payment and maintaining the check registerc. writing checks and maintaining the check registerd. authorizing payment and maintaining the accounts payable
Which documents would an auditor most likely choose to examine closely to ascertain that all expenditures incurred during the accounting period have been recorded as a liability?a. invoicesb. purchase ordersc. purchase requisitionsd. receiving reports
Which task must still require human intervention in an automated purchases/cash disbursements system?a. determination of inventory requirementsb. preparation of a purchase orderc. preparation of a receiving reportd. preparation of a check register
Which of the following situations represents a strength in the internal control for purchasing and accounts payable?a. Prenumbered receiving reports are issued randomly.b. Invoices are approved for payment by the purchasing department.c. Unmatched receiving reports are reviewed annually.d. Vendors'
The host computer mainframe is located at corporate headquarters with interactive, remote job-entry terminals at each branch location. In general, data entry occurs at the source and is transmitted to an integrated database maintained on the host computer. Data transmission is made between the
Production orders and appropriate bills of materials are generated by the host computer at corporate headquarters. Based on these bills of materials, purchase orders for raw materials are generated by the centralized purchasing function and mailed directly to the vendors. Each purchase order
Vendor invoices are mailed directly to corporate headquarters and entered by accounts payable personnel when received; this often occurs before the receiving data are transmitted from the branch offices. The final day of the invoice term for payment is entered as the payment due date. This due date
An important reconciliation in the payroll system isa. the general ledger department compares the labor distribution summary from cost accounting to the disbursement voucher from accounts payable.b. the personnel department compares the number of employees authorized to receive a paycheck to the
Which internal control is not an important part of the payroll system?a. supervisors verify the accuracy of employee time cardsb. paychecks are distributed by an independent paymasterc. the accounts payable department verifies the accuracy of the payroll register before transferring payroll funds
CMA Adapted In a well-designed internal control structure, two tasks that should be performed by different persons area. preparation of purchase orders and authorization of monthly payroll.b. preparation of bank reconciliations and recording of cash disbursements.c. distribution of payroll checks
Which transaction is not processed in the fixed asset system?a. purchase of buildingb. repair of equipmentc. purchase of raw materialsd. sale of company van
Depreciationa. is calculated by the department that uses the fixed asset.b. allocates the cost of the asset over its useful life.c. is recorded weekly. d. results in book value approximating fair market value.
Depreciation records include all of the following information about fixed assets except thea. economic benefit of purchasing the asset.b. cost of the asset.c. depreciation method being used.d. location of the asset.
Which control is not a part of the fixed asset system?a. formal analysis of the purchase requestb. review of the assumptions used in the capital budgeting modelc. development of an economic order quantity modeld. estimates of anticipated cost savings
Objectives of the fixed asset system do not includea. authorizing the acquisition of fixed assets.b. recording depreciation expense.c. computing gain and/or loss on the disposal of fixed assets.d. maintaining a record of the fair market value of all fixed assets.
Which of the following is not a characteristic of the fixed asset system?a. acquisitions are routine transactions requiring general authorizationb. retirements are reported on an authorized disposal report formc. acquisition cost is allocated over the expected life of the assetd. transfer of fixed
Which document is NOT prepared by the sales department?a. packing slipb. shipping noticec. bill of ladingd. stock release
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