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accounting information systems
Accounting Information Systems 8th Edition George H. Bodnar, William S. Hopwood - Solutions
Encryption keys should be created and distributed at the ( __________ )(a) workstation level(b) department level(c) organization level(d) security office level
Which of the following is used to store digital cash on a personal computer?(a) electronic digest(b) digital-signing unit(c) virtual cash transporting system(d) none of the above
Preparing performance reports that contain data only about items that a specific organizational unit controls is an example of which of the following?a. flexible budget systemc. closing the booksb. responsibility accounting systemd. management by exception
What is the business intelligence technique designed to discover non hypothesized relationships called?a. data warehousingc. data miningb. OLAPd. querying
Which of the following shows the implied linkages among the portions of the balanced scorecard? a. Financial Internal Innovation and learning Customer b. Innovation and learning Internal Customer Financial Internal Innovation and learning Innovation and learning Financial c. Customer Financial
Writing a query to identify trends in sales of a product by salesperson and by customer over the past
years is an example of which of the following?a. data miningc. transaction processingb. responsibility accountingd. OLAP
Measures of cycle time would most likely appear in which part of the balanced scorecard?a. innovation and learningc. internal operationsb. customerd. financial
Which of the following is an important part of the audit trail?a. journal vouchersc. trial balanceb. flexible budgetsd. data warehouse
What is the new common business reporting computer language developed, in part, by the accounting profession called?a. XMLc. SQLb. XBRLd. HTML
How is XBRL-GL likely to affect the role of accountants in organizations?
Compare and contrast how auditors can use OLAP and data mining techniques to evaluate internal controls.
Some companies are abandoning the practice of budgeting because they claim that the costs outweigh the benefits. They argue that instead of comparing actual performance to budgeted standards, closely monitoring trends in actual performance over time would be more effective. Deviations from
Which control procedure would be most effective in addressing the following problems?a. When entering a journal entry to record issuance of new debt, the treasurer inadvertently transposes two digits in the debit amount.b. When entering a journal entry to record the issuance of new debt, the
An important control procedure involves the periodic reconciliation of general ledger accounts with their subsidiary ledgers. Explain how this control procedure works in the context of accounts payable. Your answer should specify how to verify the accuracy, completeness, and validity of all entries
Figure 14-1 is a context diagram for the general ledger and reporting cycle that shows the principal data flows to and from the general ledger.Requireda. List the source documents or journals underlying each data flow into the general ledger.b. Identify at least two additional data flows resulting
Refer to the example of responsibility coding depicted in Figure 14-4.Requireda. Design a coding scheme that will support the production of this set of reports. Make and state any assumptions you believe are necessary.b. Write a brief (half-page) explanation of how your coding scheme works.c.
Objective; Practice graph design principles Required Create bar graphs for each of the following data sets. Follow the principles for graph design presented in the chapter, or explain which rule(s) you violated and why.a. Sales (in 000s). = 2004 $23,456 2005 $22,945 2006 $24,132 2007 = $24,941 2008
Objective: Create pivot tables for what-if analysis Required Read the article “Make Excel an Instant Know-It-All” by Roberta Ann Jones in the March 2004 issue of the Journal of Accountancy. (You can find the article online by going to www.aicpa.org and following the links to Online Journal of
Objective: How to do what-if analysis with graphs Requireda. Read the article “Tweaking the Numbers,” by Theo Callahan in the June 2001 issue of the Journal of Accountancy. (You can find the article online by going to WWW. aicpa. org and following the links to Online Journal of Accountancy.)
Objective: Learn what you can do with XBRL Requireda. Read the article “Tap Into XBRL’s Power the Easy Way” by Jeffrey W. Naumann, in the May 2004 issue of the Journal of Accountancy and follow the instructions to explore the use of XBRL. (You can find the article online by going to
The Darwin Department Store pays all of its employees on a salaried basis. Payroll processing is done internally. The payroll master file is maintained on disk. At periodic intervals every month, the HRM department uses online terminals to enter batches of payroll file-change transactions. After
Learn how to import data into Access and Excel, and how to create and use pivot tables for detailed analyses.Requireda. Obtain the article “Drilling for Information” by Jeff Lenning, in the Journal of Accountancy (August 2000 issue). You can find the article by accessing www .aicpa.org and
Learn how to use text and array formulas to locate potential payroll problems.Requireda. Download the spreadsheet for this problem from the course Web site.b. On the timecards data worksheet, add a column titled “Ghost Employee.” Write a function for that column that compares the employee# in
Use your operating system’s built-in capability to encrypt a file. Store the enciy'pted file in a folder that can be shared with other users on that computer. Then create a new user account. Assign it a password.Requireda. Log out of your normal account and log in as the new user account you
Traditionally, accountants have been most involved with which portion of the HRM/payroll cycle?a. hiringb. payrollc. trainingd. performance evaluation
Which of the following statements is true?a. Financial statements report the value of employee knowledge and skills.b. Turnover and absenteeism are costly.c. Outsourcing of HRM and payroll functions improves effectiveness of man¬ agement of employees.d. Default configurations of ERP packages
Online processing is most useful for which of these tasks?a. preparing payroll checksb. reconciling job-time tickets and time cardsc. paying payroll tax obligationsd. making changes in employee benefit choices
Use of a payroll service bureau or a PEO provides all of these benefits except which of the following?a. integration of payroll and personnel data, such as job skillsb. lower cost of processing payrollc. less need for developing and maintaining payroll tax expertised. fewer staff needed to process
Which control procedure would be most effective in detecting the failure to prepare a paycheck for a new employee before paychecks are distributed?a. validity checks on the employee number on each time cardb. record counts of time cards submitted and time cards processedc. zero-balance checkd. use
This chapter noted many of the benefits that can arise by integrating the HRM and payroll databases. Nevertheless, many companies maintain separate payroll and HRM information systems. Why do you think this is so? {Hint: Think about the differences in employee background and the functions performed
Direct deposit both reduces the costs of and improves control over payroll dis¬ tribution. Does this mean that companies should require all their employees to be paid by direct deposit? Why or why not?
How does use of a separate payroll checking account improve control?
Most costs are locked in at which stage in the production cycle?a. product designb. production planningc. production operationsd. cost accounting
Which document lists the components needed to manufacture a specific product?a. operations listb. master production schedulec. bill of materialsd. production order
An increase in which component of quality costs is most likely to result in a decrease in the other three components?a. prevention costsb. inspection costsc. internal failure costsd. external failure costs
Activity-based costing can be used to refine which of the following?a. job-order costingb. process costingc. both job-order and process costingd. neither job-order nor process costing
How might the proportion of total quality control costs in each of the four components of quality control (prevention, inspection, internal failure, and external failure) vary for different types of products, such as operating system software versus laser printer paper?
What are the advantages and disadvantages of using RFID technology to implement the specific identification method of accounting for inventory?
What are the advantages and disadvantages of “continuous improvement” performance reports? Why do you think some companies adopt this philosophy, but others do not?
What is the purpose of each of the following control activities?a. documenting the return of any scrapped products to inventory storesb. using an MPS to schedule productionc. periodically counting fixed assets and reconciling those counts to the fixed- asset subsidiary ledgerd. using electronic
The XYZ company sells approximately 900,000 gizmos annually. Each gizmo consists of 15 components. Management is currently evaluating which vendor to choose as the primary supplier of one of the components. Four vendors have been identified. Management wants you to choose the vendor that will
Task: Create a depreciation schedule to monitor your company’s investment in fixed assets.a. Your spreadsheet should have the following column headings:• Account number (5 digits, valid range from 11000 to 19999)• Description (text, valid entries = software, laptop, monitor, workstation,
Task: Use Excel and the Solver add-in to explore the effect of various resource constraints on the optimal product mix.a. Read the article “Boost Profits With Excel,” by James A. Weisel in the December 2003 issue of the Journal ofAccountancy (available online at the AICPA’s Web site,
The ABC Company has collected the following data concerning performance in its manufacturing plant:Requireda. Prepare a traditional performance report (comparing actual to budget). Which processes need attention? Why?b. Prepare a continuous improvement performance report (comparing actual to
Create the spreadsheet on page 493 with formulas to calculate the total depre¬ ciation expense and to display the correct values in the columns: Age, Depreciation Rate, and Depreciation Expense. Hint: You will need to use the VLOOKUP, MATCH, and ISNA functions to do this. You may also want to read
Define flowcharting.
List and draw the basic flowchart symbols.
Flowchart symbols represent what aspect of a system?
What is the difference between a systems flowchart and an analytic flowchart?
A logical data flow diagram can be used to document what aspect of a system?
Why do auditors prepare analytic flowcharts of processing systems?
What important feature is common to analytic, document, and forms distribution charts?
Is flowcharting useful in analyzing the resources required to implement a system?
Relate the concept of work measurement to the system implementation process.
Symbol A could represent(a) computation of gross pay.(b) input of payroll data.(c) preparation of paychecks.(d) verification of pay rates.
Symbol B could represent(a) computation of net pay.(b) separation of erroneous time cards.(c) validation of payroll data.(d) preparation of the payroll register.
Symbol \(C\) could represent(a) batched time cards.(b) unclaimed payroll checks.(c) erroneous time cards.(d) an error report.
Which of the symbolic representations in Figure 2-24 indicates that a sales invoice has been filed?Figure 2.24 [a] [b] [c] [p]
During the review of an internal control system an auditor may review decision tables prepared by the client. A decision table is usually prepared by a client to supplement or replace the preparation of(a) an internal control questionnaire when the number of alternative responses is large.(b) a
Which of the symbolic representations in Figure 2-25 indicate that a file has been consulted?Figure 2-25 [a] [b] [c] [p]
The following documents are used in the expenditure cycle: Vendor invoice Purchase order Disbursement voucher Purchase requisition Packing slip Receiving report Check Requireda. Identify which of these documents are internally generated and which are externally generated.b. For each internally
This project demonstrates how Excel can be used to create a variety of useful documents for small businesses.a. Read the article “A Do-It-Yourself Automated Invoicing System,” by Jacob M. Rose, which appeared in the April 2004 issue of the Journal of Accountancy. A copy of the article can be
Modify Table 11-1 by indicating if each specific control procedure listed there is preventive (P), detective (D), or corrective (C) in nature. Table 11-1 Threats and Controls in the Expenditure Cycle Process/Activity Order goods Receive and store goods Approve and pay vendor invoices General
a. Expand the cash budget you created in Problem 10.4 to include a row for expected cash outflows equal to 77% of the current month’s sales.b. Also add a row to calculate the amount of cash that needs to be borrowed, in order to maintain a minimum cash balance of $50,000 at the end of each
The receiving department at Culp Electronics Company processes inventory deliveries upon arrival by means of online data terminals located on the receiving dock. Each inventory receipt entered into the system is processed to update both the inventory master fde and the open purchase order fde. The
The systems flowchart presented in Figure 11-12 and the following description summarize ConSport Corporation’s cash disbursements system:a. The accounts payable department approves all invoices for payment by match¬ ing them with the related purchase requisitions, purchase orders, and receiving
Lecimore Company has a centralized purchasing department managed by Tawanda Mason. Tawanda has established policies and procedures to guide the cleri¬ cal staff and purchasing agents in daily department operations. She is satisfied that these guidelines conform to company objectives and that no
Branden Company, a midsize manufacturer of specialized machinery, follows these purchasing procedures:• Materials purchase requisitions are approved by manufacturing supervisors and then forwarded to the purchasing department.• Purchasing clerks prepare prenumbered purchase orders in
Table 11-2 lists the various activities performed in the expenditure cycle and the journal entries, documents, data, and control issues associated with them. Complete each of the cell entries in this table. Table 11-2 Overview of Expenditure Cycle Business Activities Accounting transaction Journal
a. Create a spreadsheet to reconcile bank statements. Organize it as follows:i. Ending balance, per bank statement ii. Deposits not included in bank statement (provide space for up to 7)iii. Checks outstanding that have not yet cleared (provide space for up to 20)iv. Eees charged, per bank
Match threats in the first column to appropriate control procedures in the second column. Threat 1. Failing to take available purchase discounts 2. Receiving unordered goods 3. Recording and posting errors in accounts payable 4. Paying for goods not received 5. Accidental loss or deletion of data
The term ( __________ ) describes the use of computer technology to provide decision-oriented information to managers.(a) data processing(b) electronic data processing(c) expert system(d) management information system
The text groups economic events into how many basic business processes?(a) one(b) four(c) six(d) nine
Which of the following indicates a satisfactory situation from the viewpoint of good internal control?(a) The cashier reports to the treasurer.(b) Payroll accounting reports to the controller.(c) Both of the above indicate an unsatisfactory situation.(d) Both of the above indicate a satisfactory
The statement "Amounts due to vendors should be accurately and promptly classified, summarized, and reported" might serve as a control objective in which of the following transaction cycles?(a) revenue cycle(b) expenditure cycle(c) production cycle(d) finance cycle
Which of the following information system functions is generally responsible for the design, coding, and debugging of computer programs?(a) technical support(b) programming(c) operations(d) systems analysis
Which of the following information system functions focuses on the identification of problems and projects for computer processing?(a) user support(b) programming(c) operations(d) systems analysis
Which of the following is a general term that is used to describe the use of electronic technology for business documents?(a) telecommuting(b) information system(c) office automation(d) electronic data interchange
( __________________ ) is the direct computer-to-computer exchange of business documents via a communications network.(a) electronic data interchange(b) electronic funds transfer(c) telecommuting(d) e-mail
The three general phases of analysis, design, and implementation are part of a ( _________________ ).(a) system development study(b) systems approach(c) expert system(d) decision support system
( ____________ ) is the first step in the systems approach. (a) systems design(b) stating objectives(c) systems analysis(d) systems evaluation
What groups need the outputs of an accounting information system?
Identify the four common operating cycles of business activity.
Characterize an organization's internal control structure.
Distinguish between a controller and a treasurer.
Describe the purpose of the internal audit function.
Characterize the organizational structure of the information system function.
What is the purpose of a steering committee?
Describe blueprinting.
Give an example of end-user computing (EUC).
Identify several components of quick-response technology.
How does EDI differ from e-mail?
Identify several components of computer-integrated manufacturing (CIM).
What is meant by user-oriented systems design?
The group concerned with establishing standards for flowchart symbols is ( _______________ )(a) ASCII(b) EBCDIC(c) ANSI(d) AICPA
A pictorial or graphical representation of the overall flow of work, documents, and operations in an application system is shown in a(n) ( _____________ ).(a) IPO chart(b) forms distribution chart(c) systems flowchart(d) process chart
Which type of diagram emphasizes the physical description of a system?(a) analytic flowchart(b) logical data flow diagram (DFD)(c) HIPO(d) IPO
ANSI X3.5-1970-the information system flowcharting standards published by the American National Standards Institute-defines four groups of flowchart symbols and illustrates conventions regarding their use. Which of the following is not one of these groups?(a) specialized input/output symbols(b)
Structured systems analysis can best be referred to as ( ___________________ ).(a) a process of increasingly complex sets of controls(b) a process of successive refinement(c) a procedure for documenting process logic(d) a statement of decision tables
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