Accounting Information Systems 10th Edition James A. Hall - Solutions

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Which controls would be most appropriate to address the following problems?a. Users other than the treasurer can create journal entries.b. A manager used his computer to post adjusting entries to conceal unauthorized expenses.c. An IT staff member used the ERP system to view financial records and
Describe some of the basic attributes used to define each element in an XBRL schema.
XBRL stands for eXtensible Business Reporting Language. It is a programming language designed specifically to facilitate the communication of business information. The SEC requires U.S public companies to use XBRL when submitting their filings. Explain how accountants can, and should, play a major
You are given the Inventory, Sales, and Sales-Inventory tables and their associated attributes from a company’s database:Discuss why the Inventory table does not have a “current quantity on hand” attribute and why the Sales table not have a “Total invoice amount” attribute.
Prescott Dolls sells porcelain dolls exclusively at antique shows. Prescott Dolls purchases inventory from individuals at garage sales, flea markets, antique malls, and estate sales. Each time the owner, Dahlia Prescott, makes a purchase, she records the person’s name, address, date, specific
What is the purpose of cardinalities in the REA data model How are they determined? Give an example of possible cardinalities that can be found in an REA data model and explain how they are determined.
Describe the basic types of entities that one would find in an REA data model, giving an example of each and how they should relate to one another.
Xola’s curios shop has expanded to the point where he now needs to buy additional equipment and fixed assets. Xola is a businessman and, at this stage, he orders single pieces of equipment or fixed assets at a time and pays for each order in full at the time of purchase. The arrangement between
Xola only purchases finished products from suppliers and pays his vendors in full when he purchases his items. He keeps track possible suppliers, in case he cannot obtain products from his usual suppliers. All payments for purchases made are paid from Xola’s business bank account.REQUIREDDraw an
Xola has a curios shop where he sells traditional handmade crockery and utensils to customers. All customers, walk-in as well as corporate, pay for their purchases in full at the time of the sale. Xola keeps track of all his customers and, at this stage, does not track potential customers. He has a
Auditors (both internal and external) often need to obtain audit evidence from relational databases. A tool called the REA data model is used to design and document an AIS. What does REA stand for? How does this reflect in the focus of the data model?
Dennie, the owner of the chips shop, purchases frozen foods from two vendors. Over the years, he has developed good relationships with both vendors so that they allow him to pay them biweekly for all purchases made during the preceding two-week period. Dennie calls in orders on Mondays and
Discuss the strategies often used to determine requirements for a proposed AIS.
For each of the following items, discuss which of the four data gathering methods would be most appropriate and why.a. Eliciting 300 employees’ opinions on a new incentive program to replace the current bonus program.b. Identifying how the credit approval process for new customers should be
One of the main issues to consider during systems development is to determine the feasibility of the proposed project. Discuss the purpose of a feasibility study, and discuss examples of different types of feasibility that need be considered.
Why is it important that systems development is properly planned? Refer to the advantages of planning systems development in your discussion.
Explain where in the REA model you can find the information normally found in a journal.
Utica Lighting Company (ULC) is a manufacturer of outdoor lighting systems for patios, walkways, and public areas. It markets its product to landscaping companies and local municipalities. ULC employs a centralized computer system with distributed terminals in the various departments. Recently the
Generators R Us (GRU) is a manufacturer of portable electric generators used for emergency power supply in both civil and private disaster situations. GRU’s headquarters and manufacturing facilities are in Dallas, Texas, where they employ 125 manufacturing and clerical staff. Although much of the
Fill in the chart below by describing one analytic for each analytic type that the business function could perform. DescriptiveDiagnosticPredictivePrescriptiveAccounting and FinanceInformation TechnologyHuman ResourcesMarketingProduction
For each of the data quality attributes listed in Table 6-1, discuss a business scenario that would be harmed if data did not have the data attribute. As you prepare these scenarios, are there other attributes of data that should be added to Table 6-1? If so, why? TABLE 6-1 Attributes of
Companies are increasingly operating throughout the entire world. As such, the data that companies collect can differ based on the country where the data is captured. This chapter identified two problems that can exist in data based on operating throughout the world: different formats for dates and
The same data can be provided to you in many different ways. Below are four extracts of the same data. The first extract is properly formatted for import into the company database. Notice, that this extract uses a pipe delimiter, puts each unique record on a different row, and uses text qualifiers
For each of the following examples, indicate whether the data is structured, semistructured, unstructured, or a mix of each. Explain your answer.1. A company runs many social media campaigns to increase sales. The company collects data about the amount spent on each ad campaign, the number of
Computer Warehouse is a wholesale firm that supplies computer hardware to large companies. Accepting orders is subject to the customer meeting agreed-upon terms of payment. Details of rejected orders are recorded in the customer data file as part of customers’ credit history. Customers can pay
As the internal auditor for No-Wear Products, you have been asked to document the company's payroll processing system. Based on your documentation, No-Wear hopes to develop a plan for revising the current system to eliminate unnecessary delays in paycheck processing. The head payroll clerk
Give three examples each of the advantages and the disadvantages of an ERP system with a centralized database. How you can the change of a successful ERP implementation?
What is the purpose of turnaround documents? Give examples of how companies use turnaround documents.
Discuss the guidelines for a better coding system. Explain why these guidelines are important, and what would happen if they are not met.
Some accounting students believe that they do not need to study information systems to be good accountants. What are disadvantages of this point of view? What are the advantages of accountants being involved in designing and preparing reports that measure more than just financial performance?
Give an example of how an AIS can improve decision making and describe the multistep activities involved in the process.
Alexander Forbes, a diversified financial services organization, is one of the major financial services organizations in Africa, providing financial solutions to individual and corporate customers. Their services include retirement planning, asset and wealth management, edical insurance, and
A software company in Munich is organizing a competition, inviting business ideas that promote the use of smartphone technology conduct business. You enter your business plan, an initiative involve unemployed teenagers and young adults from local communities to generate business and
EC Coaches is a privately held, medium-sized company that operates a fleet of luxury coaches, semi-luxury and buses, and a variety of luxury and standard vehicles. Ranging from five to 60 seaters, these vehicles are leased to tour operators, universities, schools, charitable organizations, and
Why are accounting software packages designed with separate transaction modules?
What is a SSAE 16 report?
Employees at the Harvest Equipment Company record their hours worked on paper time cards that are inserted into a time clock machine at the beginning and end of each shift. On Fridays, the supervisor collects the time cards, reviews and signs them, and sends them to the payroll clerk. The clerk
The following describes the purchases and cash disbursement procedures for a company whose current information system includes manual procedures supported by independent (nonnetworked) PCs in each department. Communications between departments is entirely through hard-copy
A book checkout report for a library is shown in the figure. Normalize this report into third normal form tables for use in a relational database. The library’s computer is programmed to compute the due date to be 14 days after the checkout date. Document the steps necessary to normalize the
Describe the audit objectives and procedures related to organizational structure and segregations of IT functions.
Describe the audit objectives and procedures related to the threat from viruses and malware.
Describe the audit objectives and procedures related to an organization’s established password policy.
Classic Restorations specializes in the sale of original and reproduction restoration parts for classic sports cars. Their information system comprises manual procedures supported by stand-alone PCs located in various departments. The company’s fixed assets procedures are described next. A
Describe the audit objectives and procedures related to internal users’ access to data and applications.
Describe the audit objectives and procedures related to subversive threats from outside of the organization.
Describe the test data (transaction files and master files) the auditor would create, and the tests that an auditor would perform, to evaluate the accuracy of inventory receipts in the receiving department. Assume the following:• The receiving clerk records receipts from a terminal in the
Write an essay on the relative benefits of cloud computing for large and small companies.
The following describes the information system for a supermarket: Customers push their shopping carts to the checkout register where a clerk processes the sale. The market has several registers, but they are not all in continuous use depending on the level of business in the market. During busy
Based on the general information about Cryogenics Inc., in Problem 6, the following describes the company’s payroll procedures for the Tulsa OK, operations. Twice each month Cryogenics’ employees submit their time cards to their respective supervisor, who reviews, approves, and submits them to
The coded message that follows is an encrypted message from Brutus to the Roman Senate. It was produced using the Caesar cipher method, in which each letter is shifted by a fixed number of places (determined by the key value).RequiredDetermine the key used to produce the coded message and decode
Last year Johnson Industrials entered into a contract with Cloud Systems Inc. to provide SaaS applications to run mission critical financial transactions. The SaaS application runs on an IaaS server, which Cloud Systems outsourced to a subservice provider. Johnson Industrials’ CPA firm is in the
What are the through-the-computer techniques?
The following describes the sales procedures for a hypothetical company. All procedures are manual and use hard-copy documents. The sales department clerk receives customer orders from the customers and prepares a three part sales order. The three copies are sent to the credit department for
The mailroom receives checks and remittance advices from customers in payment of their accounts receivable. The clerk reviews the documents for completeness and correctness, sends the checks to the cash receipts department, and sends the remittance advices to the AR department. The AR clerk
What is ethics?
Which of the following is often called a compensating control?a. Transaction authorizationb. Supervisionc. Accounting recordsd. Segregation of duties
Which of the following journal entries would a bookkeeper make to conceal the theft of cash receipts from customers in payment of their accounts? DR CRa. Miscellaneous Expense Cashb. Petty Cash Cashc. Cash Accounts Receivabled. Sales Returns Accounts Receivablee. None of the above
What are the computer ethical issues regarding privacy?
What are the computer ethical issues regarding security?
Which of the following controls would best prevent the lapping of accounts receivable?a. Segregate duties so that the clerk responsible for recording in the accounts receivable subsidiary ledger has no access to the general ledger.b . Request that customers review their monthly statements and
Which of the following is an example of an input control?a. Making sure that reports are distributed to the proper peopleb. Monitoring the work of data entry clerksc. Collecting accurate statistics of historical transactions while gathering datad. Performing a check-digit test on a customer account
What is the process for posting to accounting records in a computer system?a. Master file is updated to a transaction file.b. Master file is updated to an index file.c. Transaction file is updated to a master file.d. Master file is updated to a year-to-date file.e. Current balance file is updated
What is management fraud?
What is collusion?
What is bribery?
What is economic extortion?
What are the five internal control components described in the COSO framework?
The following describes the cash receipts process for a company: The mail room staff consists of Included in the mail are envelopes containing customer checks and remittance advices, which the clerks open to verify that the checks are signed and are constant in amount with the remittance advice.
Using the view for a veterinarian practice designated problem 4, normalize the data into the required third normal form tables. Present the record structure for each normalized table and indicate the primary keys and embedded foreign keys. Note that an owner may own more than one animal.
Excelsior Lawn Furniture (ELF) manufactures aluminum outdoor furniture, which it markets to wholesale and retail customers. ELF’s process begins in the production planning and control department, where the clerk determines the materials and operations requirements based on the marketing
Define the conversion cycle.
Discuss the importance of the move ticket to the cost accounting department.
What information is found on the depreciation schedule? How can this information be verified?
What is a proximity card?
Which one of the following documents captures the total amount of time that individual workers spend at the work location?a. Labor distribution formb. Job ticketc. Personnel action formd. Time carde. None of the above
What is a biometric time clock?
The following are all transactions processed in the fixed asset system except:a. Purchase of raw materialsb. Purchase of buildingc. Repair of equipmentd. Sale of company vane. All are fixed asset transactions
All of the following data items are likely to be included in a fixed asset record except:a. Residual value of the assetb. Book value of the assetc. Depreciation method being usedd. Location of the assete. All of the above would likely be included
All of the following controls are likely to apply to a fixed asset system except: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
What are the risks associated with payroll outsourcing?
Classic Restorations specializes in the sale of original and reproduction restoration parts for classic sports cars and muscle cars of the 1960s and 1970s. Classic Restorations is headquartered in Los Angeles, California, and currently employs 95 full-time employees, including sales staff, sales
Which of the following are not fixed asset system tasks?a. Authorizing the acquisition of fixed assetsb. Recording depreciation expensec. Computing gain and/or loss on the disposal of fixed assetsd. All of the above are taskse. a and b are not tasks but c is
Outdoor Adventure is a Montana-based wholesaler of rafting and camping equipment that serves outdoor sports camping retailers throughout the northwest. You have been hired by Outdoor Adventure to evaluate its processes, risks, and internal controls. The following paragraphs describe Outdoor
Which one of the following documents captures the total amount of time that individual workers spend on each production job?a. Time cardb. Job ticketc. Personnel action formd. Labor distribution forme. None of the above
Green Pond Nursery Supply (GPNS) is a garden center wholesaler in eastern Pennsylvania that sells and distributes a wide range of garden products and equipment including organic fertilizers, premium flower and grass seeds, organic pesticides, and garden spreaders. GPNS’s customers are primarily
Denis Frederick owns Never Leak, Inc., which is a small plumbing supply company that employs 16 workmen who perform plumbing tasks and 3 office staff. One of the office staff is John Higgins who has been with the company since it opened its doors. During that time, he has earned the trust of the
Which of the following is NOT an independent verification control?a. The shipping department verifies that the goods sent from the warehouse are correct in type and quantity.b. Sales clerk verifies the creditworthiness of the customer before processing the sale.c. General ledger clerks reconcile
What are support events?
The fundamental EOQ modela. Provides for fluctuating lead times during reorder cycles.b. Focuses on the trade-off between production costs and carrying costs.c. Is relatively insensitive to errors in demand, procurement costs, and carrying costs.d. Is stochastic in nature.e. Is best used in
Describe the characteristics of a world-class company.
Which line segment represents the demand?a. DEb. AEc. ACd. DCe. B
Which line segment identifies the quantity of safety stock maintained?a. DCb. ADc. AEd. EG
Which line segment represents the reorder lea time?a. DCb. Bc. Fd. AEe. AD
Which of the following is NOT a principle of lean manufacturing?a. Achieve high inventory turnover rate.b. All activities that do not add value and maximize the use of scarce resources must be eliminated.c. Products are pushed from the production end to the customer.d. A lean manufacturing firm
Explain why the economic order quantity is the intersection of the ordering-cost curve and the carrying-cost curve.
Which of the following statement is correct?a. Only one individual can be assigned to a role.b. A role is a formal technique for grouping together users according to the system resources they need to perform their assigned tasks.c. RBAC assigns specific access privileges to individuals.d. Because
Go to 10 websites of companies that supply bolt-on software. Write a report containing URLs that briefly describe the software features and its compatibility with specific ERP systems.
What is SCM software?
What is bolt-on software?
Which of the following is not a typical core application in an ERP system?a. Sales and distributionb. Business planningc. Production planningd. Online analytical processing (OLAP)e. Logistics

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Accounting Information Systems 10th Edition James A. Hall - Solutions

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