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accounting information systems

Accounting Information Systems Controls and Processes 3rd edition Leslie Turner, Andrea Weickgenannt, Mary Kay Copeland - Solutions

The following figure shows a packing list received by Frazier Stamping, Inc. When a packing slip arrives at the receiving dock with a shipment, a worker prepares a receiving report. The receiving report triggers the process for payment in accounts payable. Required:Assume that Frazier Stamping,
Following is a sales order form for Winter?s World of Wines, Inc. This form is prepared manually by a sales clerk and based on a telephone order from a customer. This form represents the source document that triggers the revenue process at Winter?s World of Wines. Required: Use Microsoft Excel to
Following is the April 30 Accounts Receivable Subsidiary Ledger of Gabbard, Inc., a retailer of tents and camping equipment. Required:Use Microsoft Excel to prepare an electronic spreadsheet of an accounts receivable aging report for Gabbard for April 30. Organize the spreadsheet with the
Why should a company continuously monitor the capacity of its e‐commerce system?
Icementrics is a subcontract manufacturer that produces prototype products for organizations that may possibly want Icementrics to later manufacture their products for them.Icementrics has a R & D division and a manufacturing division. The R & D division performs research and develops
Consider the following list of transactions Big Marker might record in its AIS. Indicate the journal entry required for each transaction, then use XBRL’s Global Ledger taxonomy to find the correct tags for any five of the indicated accounts. Transaction Date 9 Feb 20x4 Transaction Purchased a new
One of the steps in a financial statement audit is to review the company’s internal control system. What internal controls would you recommend for a zero-based budgeting process?
One ethical issue related to budgeting is “padding” the budget; that is, deliberately overstating resources needed. How would an ethical egoist view the practice of padding the budget? A utilitarian? A deontologist? A virtue ethicist?
Which characteristics of a professional is Alex demonstrating by preparing for and presenting the webinar?
Use Steps for Better Thinking to help Alex decide whether to present the webinar.
Complete the partial knowledge map below by suggesting connections between the four elements. Technical elements of zero-based budgeting Strategic advantages of Behavioral issues in zero-based budgeting zero-based budgeting Information technology tools for zero-based budgeting
a. Which type(s) of audits discussed in the chapter are relevant to this situation? Why? b. The Audit Clarity Project standards apply to financial statement audits. Using Table 17.1 as a guide, prepare a memo that summarizes Beale’s case.c. How is the Beale case related to other
In preparing for the webinar, what causes of information overload is Alex likely to experience? Why? For each cause, discuss at least one countermeasure Alex can use.
a. Sean was working with a group of three other students on a financial statement analysis project for his introductory financial accounting course. He told the other group members that he would do the entire project with minimal input from them to ensure the whole group got a good grade.b. Lydia
a. Which characteristics of a professional did Wood ford demonstrate?b. Which school of ethical thought best explains Wood ford’s actions? The actions of Olympus staff? c. Suppose you were an Olympus employee that Wood ford asked for information. Outline a process you would use to
a. What is a knowledge management system? What steps would American Express use to develop one?b. Bumble Beasley was considering applying for an American Express card, but had a difficult time deciding which card was right for him. Suggest why Bumble was experiencing difficulty; frame
a. Does the organization have a conversion process? If so, what is its primary product? Which type of costing system does it use? If the organization does not have a conversion process, suggest a product it might use to start one. Which type of costing system would that product
Each part of the comprehensive problem is based on Big Marker (www.bigmarker.com). Consider the narrative in Part 1 as necessary in responding to the following questions on business processes.Consider the following transactions from Big Marker’s accounting information system. a. Accrued
a. How many tables would be required in a relational database of the second REA model? Justify your response.b. For each table indicated by the second REA model, indicate: its name, its primary key and at least two additional fields.c. Update the second REA model by adding the event “revise
a. If a KKD franchise location wants to purchase equipment through the KKD corporate office, what document would the franchise use? What document would the corporate office use to buy the equipment from a vendor?b. What documents would the franchise location need before issuing a check to pay for
Could Big Marker be considered an ASP? Justify your response. If Big Marker is an ASP, which category best describes it?
a. What forms and documents would KKD use in the process described? Which generic step(s) in the sales / collection process would use each form?b. In a manner specified by your instructor, document the process described from KKD’s perspective. c. What risks do fundraising groups bear in the
Consider the material in Chapter 11 on computer crime and information technology security.a. Which business risks / threats impact Big Marker? Explain your response.b. How does the narrative presented at the end of Part One demonstrate one or more of COBIT’s processes and enablers?
Most observers would agree that Big Marker is engaged in e-business.a. Which e-business categories apply to Big Marker? b. Which benefits of e-business does Big Marker provide its customers?
a. What forms of e-business does Google engage in? b. Which common ERP system modules would Google use to calculate the net sales reported on the income statement? How would they be used?c. Could Google be considered an application service provider? Why, or why not?
a. What is internal control? b. Explain the importance of COSO’s 2013 Internal Control—Integrated Framework in establishing strong internal control. c. Consider the following risk exposures at Enron: insufficient cash for operations, fraudulent accounting, too close a relationship
a. How should Regal code its chart of accounts to facilitate financial reporting? Create account numbers for cash, capital stock and advertising expense for the following Regal theatres: Regal O’Fallon Stadium 14 (O’Fallon, Missouri), Regal Windward Stadium 10 (Kaneohe, Hawaii) and Regal Gold
Look up the following references online or in your school’s library. Using the criteria and specific questions from the UMUC Web site referenced in the chapter, evaluate and discuss the quality of each reference. “Xelltec Reports Laptop Security Microchip.” Wireless News, 25 February
a. Consider the five business processes described in the chapter. Which one best applies to the activities described? Why?b. Does Richie’s need an accounting information system? Why, or why not?c. If you were an accountant for Richie’s, how might you demonstrate the AICPA core competencies
Explain three reasons AIS is an important area of study for future accountants.
Consider each of Bumble’s statements. Determine whether each one is true; for those that are not true, indicate why.
Create database specifications for the following tables: create new community, community hero, create new community / community organizer.
The Big Marker narrative explains the process used for starting and monitoring communities. Using the technique(s) specified by your AIS instructor, document that process.
Consider the database specifications you created in Question 2. Suggest three queries Big Marker could create to inform decision making about obtaining corporate sponsors. For each query, indicate its name, its purpose and the fields you would use to create it.
a. Which systems documentation technique would you use if your goal was to construct the relational database that supports the narrative? Why?b. Regardless of your answer to (a), construct a complete REA model of the process.c. Based on your REA model, identify four tables you would
The Big Marker narrative discusses the relationship between corporate sponsors and communities. Consider the REA model below; create specifications for all indicated database tables.
Using the technique(s) specified by your AIS instructor, document the process Big Marker uses to purchase new servers.
a. Create a Level Zero data flow diagram. Ensure that it is balanced with the context diagram.b. Create table specifications for the following tables: account holder, miles earned, miles used, miles used / account holder.c. Suggest at least two queries that would be useful to the airline and / or
a. Prepare flowcharts of the steps described above—one flowchart for the sales / collection steps and a separate one for the acquisition / payment steps.b. Explain how you would use the flowcharts you created and / or those illustrated in the chapter as an independent auditor for Barnes
How would you describe Big Marker’s business processes using the Capability Maturity Model? Explain your classification.
Big Marker uses the standard chart of accounts in Quick Books to maintain its financial records.a. Suggest specific account titles and account numbers for at least three accounts in each of the following categories: current assets, plant assets, current liabilities, long-term liabilities, equity,
a. Use the steps in the systems development life cycle (SDLC) to explain how a company like Amazon, Apple or some other firm would develop a product or service to compete with the Google product you chose.b. Does using the SDLC correspond to any particular level of the capability maturity model
Accounting information systems have five generic parts. Based on the preceding narrative, information on the Big Marker web site and your own critical thinking, provide two examples of each of the five generic parts.Generic elementBig Marker examplesInputsProcessesOutputsStorageInternal controls
Which element of expectancy theory is described in each of the following independent scenarios?a. Anh completed the steps for licensure as a Certified Public Accountant and received a pay raise. b. Claudia completed a BPM project early; her boss said she could either have extra time off or a
a. Use COSO’s framework to develop an enterprise risk management plan for McDonald’s corporate office. Ensure that the risks you identify are focused on the corporate office, not individual locations.b. The corporate office has many business processes, including establishing new
Consider the list of internal controls presented in the narrative. For each one, discuss:a. Whether it is primarily preventive / detective / corrective in nature.b. Which of the four purposes of internal control it is designed to achieve.ControlAsset trackingCash handlingEmployee expense
Use the relevant COSO frameworks to develop internal control and enterprise risk management plans for Big Marker. For both plans, suggest control activities that are not mentioned in the narrative.
Create a risk / control matrix for Big Marker using some combination of the internal controls discussed in the narrative and any you created in the previous question.
The Superior Manufacturing Company produces industrial goods. The company receives purchase orders from its customers and ships goods accordingly. Assuming that the following conditions apply, develop a document flowchart for this company:a. The company receives two copies of every purchase order
An advertisement for a desktop microcomputer says that it includes a 500-gigabyte hard drive. Exactly how many bytes is this?
Design tables to store the following attributes make sure that all tables are in third normal form: customer name, customer address, customer phone, and names of customers’ children.
Design tables to store the following attributes make sure that all tables are in third normal form: student name, student phone number, classes taken by student, student address, class number, class time, class room, and student’s grade for each class.
Develop a document flowchart for the following information flow: The individual stores in the Easy Stop convenience chain prepare two copies of a goods requisition form (GRF) when they need to order merchandise from the central warehouse. After these forms are completed, one copy is filed
The Rocky Mountain Credit Union uses a computerized data processing system to maintain both its chequing accounts and its savings accounts. During the last 3 years, several customers have complained that their balances have been in error. Randy Allen, the information systems manager, has always
Which accounting software features are likely to be the most important for the following businesses? Search the Internet for an example of an AIS that you would recommend for each of these owners listed below, and include your rationale for suggesting that product.a. A boutique shop that sells
Tom O’Neal always wanted to own his own business. When he was in high school, he worked evenings and most weekends at a neighbourhood bicycle shop. When Tom went to university, he still came home in the summers and worked at the bike shop. On graduation from college, with his accounting degree in
The annual report is considered by some to be the single most important printed document that companies produce. In recent years, annual reports have become large documents. They now include such sections as letters to the stockholders, descriptions of the business, operating highlights, financial
Pucinneli Supermarkets is similar to most other grocery store chains that use the 12-digit UPC code on packages to check out customers. For a variety of reasons, it is important that the computer systems using these codes validate them for accuracy and completeness. To perform this task, UPCs
Avalon Peninsula Bank’s credit card department issues a special credit card that permits credit card holders to withdraw funds from the bank’s ATMs at any time of the day or night. These machines are actually smart terminals connected to the bank’s central computer. To use them, a bank
Prairie Shoes Inc. manufactures and distributes orthopedic footwear. To sell its products, the marketing department requires sales personnel to call on the shoe retailers within their assigned geographic territories. Each salesperson has a laptop computer, which he or she uses to record sales
Describe the meaning of each of the entity-relationship diagrams shown in Figure 3-18.a.b. Patient Surgery %23 Doctor Nurse
Canada Moose€™s Supplies is a wholesaler of sporting goods equipment for retailers in a local metropolitan area. The company buys sporting goods equipment direct from manufacturers and then resells them to individual retail stores in the regional area. The raw data in Figure 3-21
This chapter described how to create tables and records in Microsoft Access. What other database management systems are available? Use the Internet to learn more about these systems.
Would you rather use a form or a datasheet for entering data into a database table? Why?
The data-entry department of the Rocky Mountain Manufacturing Company is responsible for converting all of the company’s shipping and receiving information to computer records. Because accuracy in this conversion is essential, the firm employs a strict verification process.Prepare a document
The Athabascan Credit Union maintains separate bank accounts for each of its 20,000 customers. Three major files are the customer master file, the transaction file of deposits and withdrawal information, and a monthly statement file that shows a customer’s transaction history for the previous
The Blue Spruce Publishing Company maintains an online database of subscriber records, which it uses for preparing magazine labels, billing renewals, and so forth. New subscription orders and subscription renewals are keyed into a computer file from terminals. The entry data are checked for
The White Ocean Company is an office products distributor that must decide what to do with delinquent credit-sales accounts. Mr. Bob Smith, the credit manager, divides accounts into the following categories: (1) accounts not past due, (2) accounts 30 days or less past due, (3) accounts 31 to 60
1. Identify the important business events that occur within Hudson Bay University’s purchase/payment process.2. What changes would you suggest to the current process to take advantage of information technology?Hudson Bay University is a medium-sized academic institution located in northern
What are some criteria that systems designers should consider when developing managerial reports for an AIS? How do system designers know what to include on reports?
What are the primary provisions of the 1992 COSO Report? The 2004 COSO Report? What is new in the 2013 COSO report?
1. For each of these concerns, identify a risk that may have created the problem.2. Recommend an internal control procedure to prevent the problem in the future.The Manitoba Menswear company was founded by Fred Williams in 1986 and has grown steadily over the years. Fred now has 17 stores located
The Iceberg Clothing Company manufactures various types of clothing for women. To accumulate the costs of manufacturing these products, the company’s accountants have established a computerized cost accounting system. Every Monday morning, the prior week’s production cost data are batched
E. Wilson & Sons, Inc. hired a consulting team from Athabasca and Associates to discuss application controls for the company’s accounting data processing. In one of the workshops, the seminar leader stated, “We can classify all errors in processing accounting data as either accidental or
In the early 20th century, there was an ambitious young man named Arthur who started working at a company in Calgary as a mailroom clerk. He was a hard worker and very smart, eventually ending up as the president of the company, the Bow River Manufacturing Company. The firm produced steel wool and
The Fredericton Company has a high turnover rate among its employees. It maintains a very large computer system that supports approximately 225 networked PCs. The company maintains fairly extensive databases regarding its customers. These databases include customer profiles, past purchasing
Discuss the role of the hash total in accounting information systems.
The Canada Revenue Agency developed a new computer system for processing provincial income tax returns of individuals and corporations. The system features direct data input and inquiry capabilities. Identification of taxpayers is provided by using the Social Insurance Numbers of individuals and
To address the need for tighter data controls and lower support costs, the Macdonald Company has adopted a new disk less PC system. The basic concept behind the disk less PC is simple: a LAN server-based file system of high-powered disk less workstations is spread throughout a company and connected
What company policies or procedures would you recommend to prevent each of the following activities?a. A clerk at the Maple Ridge Company faxes a fictitious sales invoice to a company that purchases a large quantity of goods from it. The clerk plans to intercept that particular payment cheque and
Do you understand Gantt charts? Use Figure 13-12 and test your understanding by answering the following questions.a. When is the activity convert data files scheduled to begin and end?b. When is the activity test computer software scheduled to begin and end?c. How much time did it actually take the
The managers at the Toronto Professional Company have decided that increased emphasis must be placed on profit planning and comparing results to plans. A new profit planning system was implemented to help with this objective. The company uses contribution margin reporting for internal reporting
Why do businesses typically need to engage in business process re-engineering when they adopt an ERP? Identify at least four key aspects of a successful BPR project.
Acadian Furniture is a large furniture manufacturer located in Halifax, Nova Scotia. It sells to furniture wholesalers across Canada and internationally. Revenues last year exceeded $50 million. Currently, the company has over 25 legacy information systems. Recently, Wendy Stewart (CIO) met with
Linda Stanley is the vice president for Computing and Information Services at Hudson Bay University (HBU), a medium-size, urban university that has experienced a 3% growth in enrollments every year for more than a decade. The university now has almost 12,000 students, just under 4,000 faculty and
1. Decrypting the cypher text created by an XOR operation is easy€”just use the same XOR operation on the encrypted bits! Demonstrate this for the example above.2. Suppose the secret key were longer€”the eight bits 1100 0011. Using this key and an XOR, what is the cypher text
Bay Street Office Supplies is a national retailer of office supplies, equipment, and furnishings. The company opened its first store in 1932, in Toronto, ON. Currently, Bay Street Office Supplies has 100 stores nationwide. Owner-managers purchase and run franchised stores. Kim DeGraaf, the
Do you understand PERT charts? Refer back to Figure 13-11 and answer the following questions:a. Which activity or activities must be completed before activity C can begin?b. Which activity or activities must be completed before activity G can begin?c. Which activity or activities must be completed
Metro Montreal Cosmetics distributes cosmetic products to large retailers across the country. The firm was started in 1975 by its first president, Stephen Kerr, who still serves as chairman of the board. Over the years, the company has grown in size and complexity. As the company has prospered,
Cook Consultants is currently in the process of completing the systems implementation activities for converting Samuel Company’s old system to a new one. Because of unexpected delays in performing specific implementation activities, Jerry Hazen, the project manager, is concerned about finishing
The Lazy Beaver Company manufactures and distributes low-priced bottled wines to retailers. You are hired as a management consultant to help this company solve some of its systems problems. Describe the types of decision-making information that probably would be needed by the company’s(a)
Pine Tree Manufacturing is a medium-size company with regional offices in several western provinces, and manufacturing facilities in both British Columbia and Alberta. The company performs most of its important data processing tasks, such as payroll, accounting, marketing, and inventory control, on
What is the difference between business process outsourcing (BPO) and knowledge process outsourcing (KPO)? Why do firms outsource their IT functions?
Figure 7-14 is a system flowchart for Maple Mountain View€™s purchase order event. Prepare a narrative to accompany the flowchart describing this purchase order event. Include in your narrative the source documents involved, the computerized data processing that takes place, data inputs
What words were used to form each of the following acronyms?a. AAAb. ABCc. CICAd. AISe. CFOf. CISAg. CITPh. CAi. CPMj. ERPk. FASBl. ISACAm. ITn. KPIo. OSCp. REAq. SARr. SECs. SOXt. VARsu. XBRL
Clouse Analytics is a financial services consulting firm that assists its clients with financial analyses surrounding proposed business ventures. John Y. Clouse is the firm’s founder and project director. As such, he is responsible for preparing most of each client firm’s financial analyses and
Trudy’s Trendy Threads (TTT) is a regional wholesaler of women’s casual attire. The company is located in Jacksonville, Florida, and it sells to retail stores in resort communities in Florida, Georgia, and the Carolinas. TTT employs six salespeople, with each one having responsibility for
Sweet Susanna’s is a local chain of bakeries in Austin, Texas. The chain has 18 locations throughout the city and its suburbs. The management is considering opening a website to conduct e-commerce with customers. Describe any benefits that might be derived from this move.
What are the ten areas of privacy practices described in the Online Privacy section of the AICPA Trust Services Principles?
Describe the benefits to a company that engages in B2B transactions via the Internet.

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