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accounting information systems
Accounting Information Systems Controls and Processes 3rd edition Leslie Turner, Andrea Weickgenannt, Mary Kay Copeland - Solutions
Much of the e-business and e-commerce conducted by companies uses the Internet as the form of electronic communication. Describe other electronic means to conduct e-business or e-commerce.
What are some of the ethical obligations of companies related to e-commerce?
Why is the use of XML advantageous in Internet EDI?
Which type of users should have access to an extranet?
Which type of users should have access to an intranet?
Which functions within the supply chain can be enhanced through the use of e-business?
Why is it important to ensure an efficient flow of goods throughout the supply chain?
Describe the concept of a supply chain.
How is e-business a broader concept than e-commerce?
What are the three resources that an organization must have to conduct a conversion (or transformation) process?
Do conversion processes occur in manufacturing companies only? Why, or why not?
Why are conversion activities typically considered routine data processes?
Differentiate between the roles of the engineering and the research and development departments.
What types of information must be taken into consideration when scheduling production?
What is the purpose of an inventory status report?
What is the overall goal of the inventory control department?
What is the purpose of the quality control department?
What is the purpose of determining standard costs?
Which three activities in the conversion process should require specific authorization before they are begun?
Using the table below, match the IT systems on the left with their definitions on the right:CAD a. A network including production equipment, computer terminals, and accounting systemsCAM b. Electronic workstation including advanced graphics and 3D modeling of production processesMRP c. Automated
Suppose a company has 1,000 units of a raw material part on hand. If 750 of these units are routed into production, should the company place an order to stock up on more of these parts? In order to answer this question, determine the economic order quantity (EOQ) for this part, assuming that the
Ski Slope, Inc. is a manufacturer of equipment used for snow skiing and snow boarding. The company’s products are sold under two brand names, one comprising its top‐of‐the‐line equipment and the other comprising its line of moderately priced equipment and ski attire. Ski Slope’s sole
The screen capture that follows shows the relationships in a Microsoft Access database. For each relationship, explain the following:a. The type of parent€“child relationship it represents.b. Which attributes in the table are used to link the relationship?c. The purpose of the
Sole Footwear, Inc., is a manufacturer of a popular line of casual shoes and sandals that has experienced significant growth within the past 18 months. The unique design of its product line has always been the key to the company’s success. It is currently still using a system consisting of manual
Bentley Dynamics, Inc., produces computer chips for personal electronic devices used to record music. The chips are sold primarily to large manufacturers; however, occasional production overruns may be discounted and sold to small manufacturers. Since Bentley’s operating budget assigns all fixed
How would you describe capital?
Putnam Sound, Inc. (PSI) is a manufacturer of stereo speaker systems. The company prepares special journals and subsidiary ledgers for its revenue, expenditures, payroll, and conversion processes. For administrative processes, however, journal vouchers are created for the related general ledger
How does data differ from information?
Which type of data storage medium is most appropriate when a single record of data must be accessed frequently and quickly?
How is the primary key used in a relational database?
Explain the terms Big Data and data analytics.
Arrange the following data storage concepts in order from smallest to largest, in terms of their size: file, record, database, character, and field.
Arrange the following database models in order from earliest development to most recent: network databases, hierarchical databases, flat file databases, and relational databases.
Arminello, Inc. does not use a database system; rather, it maintains separate data files in each of its departments. Accordingly, when a sale occurs, the transaction is initially recorded in the sales department. Next, documentation is forwarded from the sales department to the accounting
Big Data is increasingly important to companies and to accountants. Using a web search on Google or other search sites, find an article within the last 12 months on “Big Data” and accounting. Summarize how the article describes the use of Big Data in an accounting context.
Explain how a healthcare organization, such as a hospital or medical clinic, may use Big Data and data analytics as compared to a manufacturing firm.
Explain how CPA firms are using Big Data and data analytics in the audits of their clients.
Consider how auditing has changed by comparing auditing techniques prior to the 1980s when many firms prepared manual accounting records and there were manual audits, versus audits today that use computerized techniques to analyze data.
What are some benefits and outcomes that can result from examining Big Data with regard to a firm’s inventory processing?
What are some benefits and outcomes that can result from examining Big Data with regard to a firm’s purchasing transaction processing?
What are some benefits and outcomes that can result from examining Big Data with regard to a firm’s revenue transaction processing?
Using a Internet search engine, search using the terms Spanner and “distributed database.” Describe how and why Google uses a distributed database. What problems is Google encountering related to its distributed database?
Zip Shuttle Service operates airport shuttle vans in 12 large cities: Los Angeles, San Diego, San Francisco, Phoenix, Las Vegas, Houston, Dallas, Chicago, New York City, Washington DC, Miami, and Orlando. Zip operates passenger vans to shuttle travelers to and from the airports for a $25 fee per
How do e-commerce and e-business differ?
What was the original purpose of the network of computers that eventually became the Internet?
How quickly did Internet usage by the public grow after the Internet was opened to business transactions in 1994?
Which types of costs can be reduced when a company decides to engage in B2C e-commerce on the Internet?
What is meant by “monitoring and enforcement” regarding online privacy practices?
Bloomington Enterprises is a manufacturer of model trains that sell under the name Bloomington Toy Trains in toy stores and hobby shops throughout the United States and Europe. The company employs 160 people in its home office and sole manufacturing and storage facility, which are both located in
Melcher Enterprises is a wholesaler that purchases consumer merchandise from many different suppliers. Melcher then sells this merchandise to many different retail chain stores. The following paragraphs describe the expenditures processes at Melcher:Warehouse employees constantly monitor the level
Why is it important to conduct an investment analysis prior to the purchase of fixed assets?
Why is the beginning of a fiscal year the best time to implement a fixed asset software system?
What negative things might occur if fixed asset software systems lacked appropriate access controls?
Why might a supervisor collude with an employee to falsify time cards?
Describe the type of information that a human resources department should maintain for each employee.
Explain how duties are segregated in payroll. Specifically, who or which departments conduct the authorization, timekeeping, recording, and custody functions?
Explain the ways in which electronic transfer of funds can improve payroll processes.
Glazer Company is a small manufacturing firm with 60 employees in seven departments. When the need arises for new workers in the plant, the departmental manager interviews applicants and hires on the basis of those interviews. The manager has each new employee complete a withholding form. The
Rossi Industries has payroll processes as described in the following paragraphs:When a new employee is hired, the human resources department completes a personnel action form and forwards it to the payroll department. The form contains information such as pay rate, number of exemptions for tax
Wilson Enterprises is a midsize manufacturing company with 120 employees and approximately $45 million in sales. Management has established a set of processes to purchase fixed assets, described in the following paragraphs:When a user department determines that it may be necessary to purchase a new
The Crishner Company has the following processes related to fixed assets: When a department manager determines a need for a new fixed asset, he prepares a purchase requisition, which is forwarded to the chief financial officer. If the requested fixed asset purchase will not exceed remaining funds
Rider Co. makes automobile parts for sale to major automobile manufacturers in the United States. The following information is available regarding internal controls over machinery and equipment:When a departmental supervisor needs a new item of machinery or equipment, he or she must initiate a
What are the advantages of outsourcing payroll?
What are the advantages of automated time keeping such as bar code readers, or ID badges that are swiped through a reader?
Why do payroll processes result in sensitive information, and what is the sensitive information?
What is the purpose of supervisory review of employee time cards?
Explain the reasons for an organization having a separate bank account established for payroll.
Even though payroll and fixed asset processes may not be as routine as revenue processes, why are they just as important?
The document flowchart on the next page shows part of the purchasing and cash disbursement processes for Wilson, Inc., a small manufacturer of gadgets and widgets. Some of the flowchart symbols are labeled to indicate operations, controls, and records.Required:For each of the symbols in the
Notting, Inc., has the following processes related to purchasing: When it is determined that an item should be ordered, the purchasing department prepares a three‐copy PO. The first copy is mailed to the vendor, the second copy is filed by PO number in the purchasing department, and the third
Two of the most common ways that employees commit fraud against their employers is the misstatement of reimbursable expense accounts and the misuse of office supplies for personal purposes. Although these schemes are usually not individually significant, their magnitude can be damaging if these
Using a search engine, search the Internet for an article titled “The advantages of customer self-service for B2B Electronic Invoice Presentment and Payment (EIPP)” Briefly explain what the article describes as the advantages of adopting EIPP.
Koler Manufacturing Company operates two plants that manufacture shelves and display units for retail stores. To manufacture these items, the purchasing agents purchase raw materials such as steel, aluminum, plastic, lexan, and miscellaneous screws, rubber end caps, bolts, and nuts. Two purchasing
Kittner, Inc., is a small company with three people working in the expenditures processes. One of the three employees is the supervisor of the other two. Some tasks that must be accomplished within the expenditures processes are the following:a. Accounts payable record keepingb. Authorization of
Holsten Company is considering a business process reengineering (BPR) project whereby its current (mostly manual) expenditures processing would be converted to an automated system. Brainstorm ideas for this project. Specifically, what processes could be redesigned? What current IT developments
Joy Tucker started a new business: a coffee and pastry cart located at the local library. Joy hired her brother, Eric, as her assistant. Joy and Eric personally make all the purchases of items needed to stock the cart, using procurement cards issued in the name of the company. Because Joy is
Compare how a company with a manual process of matching a PO, receiving report and vendor invoice would differ from a company that uses Microsoft Dynamics GP or other integrated ERP solution where automated (electronic) matching of a PO, receiving report and vendor invoice occurs. Explain how the
Refer to the Real World example for City Harvest and the details in the chapter. Outline the business process improvements that can occur in the inventory and purchasing processes when a manual or nonintegrated system is replaced with a fully integrated ERP system to efficiently manage the purchase
What techniques can a company use to reveal problems concerning potential exposure to unauthorized access to its systems?
Identify three ways that buyers and sellers may be linked electronically.
Identify each category of risk that can be reduced by using authority tables, computer logs, passwords, and firewalls.
What paper document is eliminated when ERS is used?
What can a company do to protect itself from business interruptions due to power outages?
How is an audit trail maintained in an IT system where no paper documents are generated?
What accounting records are used by accounts payable personnel to keep track of amounts owed to each vendor?
Why should accountants periodically review the sequence of checks issued?
Why would some checks need to include two signatures?
Which department is responsible for making sure that payments are made in time to take advantage of vendor discounts?
Name the first document that should be prepared when a production employee recognizes that the quantity of goods on hand is insufficient to meet customer demand.
Radleigh, Inc., processes its sales and cash receipts documents in the following manner:Cash ReceiptsEach morning a mail clerk in the sales department opens the mail containing checks and remittance advices, which are then forwarded to the sales department supervisor, who reviews each check and
Niagara Pediatrics is a partnership of 6 pediatrician owners, 2 nurse practitioners, 10 nurses, 3 accounting clerks, 2 receptionists, and an office manager. The office manager and all of the accounting clerks have their own PCs, and the receptionists share a PC.These PCs are connected through a
Inner Artist is a retailer of arts and craft supplies in the suburban Chicago area. It operates a single retail store and also has extensive catalog sales on account to area schools, churches, and other community organizations. Retail customers pay for supplies with cash, check, or credit card at
Katrupi, Inc., has five departments that handle all sales, billing, and collection processes. The five departments are sales, billing, accounts receivable, warehouse, and general ledger. These processes occur as follows:A customer mails a purchase order to Katrupi, and it is forwarded to the sales
At Kingston Industries, the revenue processes are conducted by five employees. The five employees are the sales clerk, warehouse clerk, accountant 1, accountant 2, and the collection clerk. A description of their duties is as follows:a. The sales clerk receives customer orders by phone. She
Sensible CDs is a regional retail chain that sells used CDs. The company has eight stores throughout the Philadelphia region. At each store, customers can bring in used CDs to sell to Sensible or to trade for used CDs already in stock. Also, customers can buy used CDs from the large selection on
When an order for inventory items is fulfilled, in Microsoft Dynamics GP the items are reviewed to see if there is available stock to fill the order for the line item. If there is no available stock, the user may select one of the following options:a. Sell the balanceb. Override shortagec. Back
Caleb Westerfield is the owner of CW Sports, a consignment shop for used sporting goods. Caleb accepts consigned goods and offersThe Web ordering system provides the advantages of: costsavings through lower marketing, employee, and paperwork costs; shorter sales cycles due to reduced time to place
In 1990, Luigi Romano opened a pizza restaurant that he named Romano’s in St. Louis, Missouri. Over the years, he opened both company and franchise locations and grew the business to include over 40 restaurants that serve the three states around the St. Louis area. In 2015, Romano introduced a
Describe a popular fraud scheme where company employees misuse the sales revenues cutoff.
What is the purpose of maintaining transaction logs? Why are they especially important in IT systems?
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