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accounting information systems

Accounting Information Systems 8th Edition George H. Bodnar, William S. Hopwood - Solutions

What is the major difference between booking invoices on date of approval and booking them on date of payment?
Identify several objectives of the human resource business process.
Define the term infotype as it pertains to SAP \(R / 3\) human resource processing.
What is the meaning of the term personnel event in SAP \(\mathrm{R} / 3\) human resource processing?
What is the basic source of information concerning federal requirements with respect to payroll processing?
Identify the major controls in a payroll business process.
Which of the following procedures provides substantial assurance that invoices are paid for merchandise actually ordered and received in satisfactory condition?(a) The purchasing department sends copies of the purchase requisition to the accounts payable department and the supplier.(b) The
Which of the following is an effective internal accounting control over cash payments?(a) Signed checks should be mailed under the supervision of the check signer.(b) Spoiled checks that have been voided should be disposed of immediately.(c) Checks should be prepared only by people responsible for
For the most effective internal accounting control, monthly bank statements should be received directly from the banks and reviewed by the(a) controller.(b) cash receipts accountant.(c) cash disbursements accountant.(d) internal auditor.
In a properly designed internal accounting control system, the same employee may be permitted to(a) receive and deposit checks and also approve write-offs of customer accounts.(b) approve vouchers for payment and also sign checks.(c) reconcile the bank statements and also receive and deposit
In a properly designed internal accounting control system, the same employee should not be permitted to(a) sign checks and cancel supporting documents.(b) receive merchandise and prepare a receiving report.(c) prepare disbursement vouchers and sign checks.(d) initiate a request to order merchandise
For effective internal accounting control, the accounts payable department should compare the information on each vendor's invoice with the(a) receiving report and the purchase order.(b) receiving report and the voucher.(c) vendor's packing slip and the purchase order.(d) vendor's packing slip and
The mailing of disbursement checks and remittance advices should be controlled by the employee who(a) signed the checks last.(b) approved the vouchers for payment.(c) matched the receiving reports, purchase orders, and vendors' invoices.(d) verified the mathematical accuracy of the vouchers and
Which of the following control procedures is not usually performed in the vouchers payable department?(a) Determining the mathematical accuracy of the vendor's invoice.(b) Having an authorized person approve the voucher.(c) Controlling the mailing of the check and remittance advice.(d) Matching the
For effective internal control purposes, the vouchers payable department generally should(a) stamp, perforate, or otherwise cancel supporting documentation after payment is mailed.(b) ascertain that each requisition is approved as to price, quantity, and quality of an authorized employee.(c)
Mailing disbursement checks and remittance advices should be controlled by the employee who(a) approves the vouchers for payment.(b) matches the receiving reports, purchase orders, and vendors' invoices.(c) maintains possession of the mechanical check-signing device.(d) signs the checks last.
Matching the supplier's invoice, the purchase order, and the receiving report normally should be the responsibility of the(a) warehouse-receiving function.(b) purchasing function.(c) general accounting function.(d) treasury function.
To avoid potential errors and irregularities, a well-designed system of internal accounting control in the accounts payable area should include a separation of which of the following functions?(a) cash disbursements and vendor invoice verification (b) vendor invoice verification and merchandise
Jackson, the purchasing agent of Judd Hardware Wholesalers, has a relative who owns a retail hardware store. Jackson arranged for hardware to be delivered by manufacturers to the retail store on a COD basis, thereby enabling his relative to buy at Judd's wholesale prices. Jackson was probably able
Which of the following departments should have the responsibility for authorizing payroll rate changes?(a) personnel(b) payroll(c) treasury(d) timekeeping
Which of the following constitutes the most significant risk within the purchasing cycle?(a) Receiving department personnel sign receiving documents without inspecting or counting the goods.(b) Large quantities of relatively inexpensive parts are stored in open areas near workstations to reduce
Upon receipt of a requisition, the stores manager initiates a three-part purchase order. Two copies go to the vendor and one copy stays in the stores file. Upon receipt of goods, the stores manager matches the purchase order with the invoice and forwards them to accounts payable for payment. Which
An appropriate compliance test to confirm that only valid employees are on the payroll is to ensure that(a) separate personnel folders are originated for each new employee.(b) payroll checks are delivered directly to each supervisor by the payroll clerk.(c) personnel places names on payroll only on
Which of the following would be the most appropriate test to determine whether purchase orders are being processed on a timely basis?(a) Determine the dates of unpaid accounts payable invoices.(b) Compare dates of selected purchase orders with those of purchase requisitions.(c) Select a block of
Which of the following procedures, noted by an auditor during a preliminary survey of the payroll function, indicates inadequate control?(a) All changes to payroll data are documented by the personnel department on authorized change forms.(b) Prior to distribution, payroll checks are verified to a
A CPA reviews a client's payroll procedures. The CPA would consider internal control to be less than effective if a payroll department supervisor was assigned the responsibility for(a) reviewing and approving time reports for subordinate employees.(b) distributing payroll checks to employees.(c)
For internal control purposes, which of the following individuals should preferably be responsible for the distribution of payroll checks?(a) bookkeeper(b) payroll clerk(c) cashier(d) receptionist
The authority to accept incoming goods in receiving should be based on a(an)(a) vendor's invoice.(b) materials requisition.(c) bill of lading.(d) approved purchase order.
A treasurer insists that invoices be stamped "paid" prior to his actually signing the checks for payment. Discuss the merits of this policy.
In a production control application system, which of the following documents serves as authorization to release raw materials to the production departments?(a) production order(b) job time card(c) journal voucher(d) material requisition
In a production control application system, which of the following departments should receive copies of production orders?(a) inventory control(b) cost accounting(c) purchasing(d) general ledger
In a production control application system, which of the following documents serves as authorization to the production departments to make certain products?(a) production order(b) job time card(c) material requisition(d) journal voucher
Which of the following is a characteristic associated with just-in-time (JIT) production(a) parts are produced only as they are required in subsequent operations(b) a constant-flow production rate(c) both a and b(d) neither a nor b
Which of the following is an element of CADD technology?(a) solids modeling(b) statistical process control(c) both a and b(d) neither a nor b
( ______________ ) integrates the physical manufacturing system and the manufacturing resource planning (MRP II) systems.(a) MRP(b) AIT(c) CIM(d) RTG
In a production planning system, the bill-of-materials file would be an input to which of the following?(a) production planning program(s)(b) cost accounting program(s)(c) both a and b(d) neither a nor b
In a production planning system, the production status file would be an input to which of the following?(a) production planning program(s)(b) inventory update program(s)(c) both a and b(d) neither a nor b
In a production planning system, the master operations file would be an input to which of the following?(a) cost accounting program(s)(b) inventory update program(s)(c) both a and b(d) neither a nor b
Cost drivers for activity-based costing might be identified with ( ______________ ).(a) solids modeling(b) finite element analysis(c) statistical regression(d) statistical process control
The developers of your new system have proposed two different AIS designs and have asked you to evaluate them. This evaluation process is most likely to be a part of which SDLC step?a. systems analysisb. conceptual designc. physical designd. implementation and conversione. operation and maintenance
What is the purpose of the conceptual systems design report?a. to guide physical systems design activitiesb. to communicate how management and user information needs are metc. to help the steering committee assess system feasibilityd. a and be.a, b, and c
A monthly payroll register showing all hourly employees, the number of hours they worked, their deductions, and their net pay is most likely which of the following?a. scheduled reportb. special-purpose analysisc. triggered exception reportd. demand report
Which of the following is not a consideration in input design?a. Which errors are possible and how can they be detected and corrected?b. How can data be entered (keyboards, OCR, or POS terminal)?c. Which format efficiently captures the input data with the least effort and cost?d. How often should
Which of the following is most likely to help improve program development?a. physical modelb. IT strategic planc. walk-throughd. record layout
Prism Glass Company is converting from a manual data processing system to a computerized one. To expedite the implementation of the system, the CEO has asked your consulting team to postpone establishing standards and controls until after the system is fully operational. How should you respond to
The Glass Jewelry Company manufactures costume jewelry. You have just been hired as the management accountant in charge of the accounting and control functions. During your introductory meeting with the president, he outlined your first project: the design and implementation of a new AIS. He stated
Chaotic order processing at Wang Laboratories had long been accepted by its customers as the cost of doing business with the computer giant. The tremendous growth of Wang left the company with a serious revenue tracking problem; Customers would often wait months for Wang to fill orders and process
Tiny Toddlers Company, a large multinational manufacturer of children’s toys and furniture, is planning the design and implementation of a distributed data process¬ ing system to assist its sales force. The company has 10 sales offices in Canada and 20 in the United States. The company’s sales
Mickie Louderman is the new assistant controller of Pickens Publishers, a growing company with sales of $35 million. She was formerly the controller of a smaller company in a similar industry, where she was in charge of accounting and data processing and had considerable influence over the entire
Columbia Corporation is a midsize, diversified manufacturing company. Ryon Pulsipher has been promoted recently to manager of the company’s property account¬ ing division. Ryon has had difficulty responding to requests from other departments for information about the company’s fixed assets.
A savings and loan association has decided to develop a new AIS. The internal auditors have suggested planning the systems development process in accordance with the SDLC concept. The following nine items have been identified as major systems development activities that will have to be completed.1
Create a form in Microsoft Access or another software package of your choosing for data input. If you choose to use Microsoft Access, open the program and open a database that you have previously prepared or use the sample database provided by Microsoft Access. To find the sample database, click on
Create a report in Microsoft Access or another software package of your choosing for data output. If you choose to use Microsoft Access, open the pro¬ gram and open a database that you have previously prepared or use the sample data¬ base provided by Microsoft Access. To find the sample database,
During final testing directly before the launch of a new payroll system, the project managers found a problem. The prepackaged payroll system started doing the following:• Writing checks for negative amounts• Printing checks with names and employee numbers that did not match• Making errors
A new program at Signal Enterprises was supposed to track customer calls. Unfortunately, it took 20 minutes to load on a PC, and it crashed frequently. Management hired a new consultant to fix the application, but after three months the project was discontinued after $200,000 had been spent.The
Which of the following documents is used to post sales on account to customers in the accounts receivable ledger?(a) purchase orders(b) invoices(c) remittance advices(d) bills of lading
Which of the following departments should match shipping documents with open sales orders and prepare daily sales summaries?(a) billing(b) sales order(c) accounts receivable(d) shipping
The invoice is completed when ( _____________ ).(a) payment is received from the customer(b) the goods have been shipped(c) the sales order is approved by the credit department(d) the customer has acknowledged receipt of the shipment
The billing function should normally report to which of the following?(a) controller(b) treasurer(c) director of internal auditing(d) vice president of sales
Which of the following departments should normally be responsible for the preparation and journalizing of credit memos upon the receipt of approved sales return memos to authorize a reduction in customer account balances because of returned goods?(a) receiving(b) accounts receivable(c) credit(d)
Which of the following steps in the customer order management business process is optional?(a) contract creation(b) order entry(c) shipping(d) billing
Pricing usually occurs during which step in the customer order management business process?(a) contract creation(b) order entry(c) shipping(d) billing
What has to exist before a sales order can be created in SAP R/3 ?(a) an invoice(b) a delivery document(c) a customer master record(d) a vendor master record
The remittance list prepared in the mailroom to document cash receipts should be directly forwarded to ( _____________ ).(a) finished goods(b) billing(c) accounts receivable(d) general ledger
Cash remittances received in the mailroom should be directly forwarded to ( _____________ ).(a) cash receipts(b) billing(c) accounts receivable(d) general ledger
Identify the steps in the customer order management business process.
Identify several activities that usually occur during order entry.
What has to exist before a sales order can be created in SAP \(R / 3\) ?
Distinguish between the billing and accounts receivable functions in a sales order procedure.
What accounting journal entry or entries summarize the activities of a sales order procedure?
When is it desirable to use an acknowledgment copy of a sales order?
How does the use of a master price list enhance control of the billing function?
What should be verified prior to the shipment of goods to customers?
What is cycle billing?
What is a dunning procedure?
What functions are served by periodic statements of account that are sent to customers?
Distinguish between open-item processing and balance-forward processing of accounts receivable.
Outline the major features of internal control in a sales return and allowance business process.
Why should write-offs of receivables be confirmed with the customer?
Identify the basic objective in a cash receipts business process.
What is the most critical phase of a cash receipts business process? Identify several controls that may be used to control this phase.
What is a remittance advice? What function do remittance advices play in a cash receipts business process?
Identify the major features of control in a cash receipts business process.
What is the potential advantage of using a lock-box collection system for customer remittances?
What is a professional shopper?
The internal auditor is reviewing shipping procedures of a manufacturing company. The auditor should be greatly concerned when:(a) merchandise is shipped without an approved customer's order.(b) invoiced prices on merchandise are not checked before orders are shipped.(c) the sales department is not
Which of the following is an effective internal accounting control over accounts receivable?(a) Only people who handle cash receipts should be responsible for preparing documents that reduce accounts receivable balances.(b) Responsibility for approval of the write-off of uncollectible accounts
Which of the following control procedures may prevent the failure to bill customers for some shipments?(a) Each shipment should be supported by a prenumbered sales invoice that is accounted for.(b) Each sales order should be approved by authorized personnel.(c) Sales journal entries should be
To achieve good internal accounting control, which department should perform the activities of matching shipping documents with sales orders and preparing daily sales summaries?(a) billing(b) shipping(c) credit(d) sales order
Shipping documents should be compared with sales records or invoices to(a) determine whether payments are properly applied to customer accounts.(b) assure that shipments are billed to customers.(c) determine whether unit prices billed are in accordance with sales contracts.(d) ascertain whether all
As payments are received, one mailroom employee is assigned the responsibility of prelisting receipts and preparing the deposit slip prior to forwarding the receipts, deposit slip, and remittance advices to accounts receivable for posting. Accounts receivable personnel refoot the deposit slip,
For the purpose of proper accounting control, postdated checks remitted by customers should be(a) restrictively endorsed.(b) returned to the customer.(c) recorded as a cash sale.(d) placed in the joint custody of two officers.
A company policy should clearly indicate that defective merchandise returned by customers is to be delivered to the(a) sales clerk.(b) receiving clerk.(c) inventory control clerk.(d) accounts receivable clerk.
The most likely result of ineffective internal control policies and procedures in the revenue cycle is that(a) irregularities in recording transactions in the subsidiary accounts could result in a delay in goods shipped.(b) omission of shipping documents could go undetected, causing an
Proper authorization procedures in the revenue cycle usually provide for the approval of bad debt write-offs by an employee in which of the following departments?(a) treasury(b) sales(c) billing(d) accounts receivable
Tracing bills of lading to sales invoices provides evidence that(a) shipments to customers were invoiced.(b) shipments to customers were recorded as sales.(c) recorded sales were shipped.(d) invoiced sales were shipped.
A sales clerk at Schackne Company correctly prepared a sales invoice for \(\$ 5,200\), but the invoice was entered as \(\$ 2,500\) in the sales journal and similarly posted to the general ledger and accounts receivable ledger. The customer remitted only \(\$ 2,500\), the amount on his/her monthly
For good internal control, the billing department should be under the direction of the(a) controller.(b) credit manager.(c) sales manager.(d) treasurer.
Which of the following controls most likely would be effective in offsetting the tendency of sales personnel to maximize sales volume at the expense of high bad debt write-offs?(a) Employees responsible for authorizing sales and bad debt write-offs are denied access to cash.(b) Shipping documents
An entity with a large volume of customer remittances by mail could most likely reduce the risk of employee misappropriation of cash by using(a) employee fidelity bonds.(b) independently prepared mailroom prelists.(c) daily check summaries.(d) a bank lock-box system.

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