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accounting information systems
Accounting Information Systems 2nd Edition Vernon Richardson, Chengyee Chang, Rod Smith - Solutions
Use Microsoft Excel to assess the NPV of an IT initiative. The initiative will require an initial investment of $250,000 and is expected to return $150,000 per year for the next 3 years.Assume a discount rate of 10 percent. What is the NPV? How does the NPV change if the discount rate is 15
The benefits of an IT initiative should be measured in comparison to the revenues and costs that will occur if the IT initiative is not implemented. What issues would a project team face when making this comparison? How does it affect the team’s assessment of risks?
Use Microsoft Excel to assess the internal rate of return for an IT initiative. Suppose the initial investment is $70,000. The returns on investment in dollars for the following 5 years are(a) $12,000,(b) $15,000,(c) $18,000,(d) $21,000, and(e) $26,000. Use the IRR function to compute the
Your company has just completed a major IT initiative and is reviewing the outcome. It notes that the project took 3 months longer than expected. As part of the project, the company wanted to use some automatic bar code readers, but the rate of correct bar code reads was below the expected rate.
Consider two projects. Project 1 costs $272,000 and returns $60,000 per year for 8 years. Project 2 costs $380,000 and returns $70,000 per year. Project 2 is determined to be less risky, so your company only requires an 8 percent minimum annual return compared to 10 percent for project 1. What is
Congratulations. You’ve won the state lottery. You have a choice of three options:(a) $12 million 5 years from now,(b) $2.25 million at the end of each year for 5 years, or(c) $10 million 3 years from now.Assuming you can invest at 8 percent, which option would you prefer?
Moore's law suggests that computing power for the same cost doubles every two-and-a-half years. A combination of Moore's law and the commoditization of computer components has made it possible to buy a $500 computer today that is more powerful and portable than a similar offering that cost $2,000
SlowRider Inc. had a rudimentary business intelligence (BI) system. Analysts at SlowRider Inc. pulled data from three different ERP systems, loaded the data into Excel spreadsheets, and e-mailed those spreadsheets to the senior managers each month. However, some managers complained that they didn't
The Beach Dude Inc. (BD) sells surf gear and clothing to retail stores around the country.It outsources the production of most of its items, so its warehouse is very busy receiving incoming shipments and preparing deliveries to customers. After a thorough review of its warehouse processes, the
Refer to the Starbucks vignette at the beginning of this chapter. Starbucks has aggressively pursued digital ventures to improve the customer experience and increase the amount of customer transactions per visit. Among other things, Starbucks mines the data from customer loyalty cards to examine
Sunset Graphics is considering two mutually exclusive projects. Both require an initial investment of $100,000. Assume a marginal interest rate of 10 percent and no residual value for either investment. The cash flows for the two projects are expected to be the following:a. Compute the NPV,
Sunset Graphics is considering moving to a cloud-based accounting system because its current system only runs on outdated computers. The cloud-based system is very similar to the current system, so there would be no additional training required. The cloud-based system will cost $1,500 per month for
Each alternative IT initiative carries risk of failing to achieve the respective benefits and exceeding the estimated costs. Match the description of risk with each risk term.1. The solution will not generate projected benefits.2. The solution is not aligned with the strategy of the firm.3. The
After identifying relevant risks, the project team often employs risk-minimization techniques to lessen the probability or impact of the risk. Match the description/example of the risk mitigation technique with the type of risk being mitigated.1. Ensure active top management support for the
Match the description of these financial metrics to their terms.1. The average annual income from the IT initiative divided by the initial investment cost2. The sum of the present value of all cash inflows less the sum of the present value of all cash outflows3. The discount rate (return) that
Project benefits may come from a variety of sources. Match the examples of these project benefits to their terms.1. The new system will be able to identify additional products that customers might be interested in.2. Installing an accounting system that supports international financial standards
Which of these project costs would be considered to be acquisition costs and which would be considered to be operating costs?1. Hardware replacement2. Help desk support3. Software upgrade4. Development5. Initial training6. Ongoing training7. Maintenance contracts8. Project management
There are several approaches to quantifying expected project benefits. Which of the following uses simulation, external benchmarks, real option theory, or expert opinion to help with the quantification?1. Software that allows you to consider the impact under a variety of assumptions2. Compare and
A firm is considering two projects. Both have an initial investment of $1,000,000 and pay off over the next five years in this fashion. The cost of capital is 6%. a. Which of these has a faster payback period?b. Which of these options has a higher net present value?c. Which of these options
1. Which phase of the systems development life cycle would include a feasibility analysis?a. Analysis phaseb. Planning phasec. Design phased. Implementation phase2. The IFAC suggested 10 core principles of effective information technology planning. Which of the following is not one of those 10 core
Brainstorm a list of reasons why 61 percent (including 43 percent challenged plus 18 percent failed) of the information technology projects either failed or were challenged in 2012. Consider specifics of each of the elements of the triple constraints model and any other common delays, including the
We discussed 10 core effective information technology planning principles. Match the description of each with its respective principle.1. The planning phase should support and complement the business strategy of the firm.2. Costs of implementation should be commensurate with the tangible and
The textbook emphasized the challenges of IT project management. In 2012, what were the outcomes of IT projects (as reported in the text)?1. Successful2. Challenged (late, over budget, and/or with less than the required features and functions)3. Failed (canceled prior to completion or delivered and
There are five phases in the systems development life cycle (SDLC). Match the description of each phase to the correct phase.1. The phase of the SDLC that involves a complete, detailed analysis of the systems needs of the end user as well as a proposed solution.2. The phase of the SDLC that
Decide whether each of these statements regarding the technology acceptance model are true or false.1. The technology acceptance model predicts whether systems will be adopted or scratched.2. Perceived usefulness is the extent to which users believe the system will help them perform their job
For each of the following, please define these as either work breakdown structure, triple constraint, 100% rule, or 15-15 rule.1. The process of identifying all tasks needed to complete a project.2. Three factors that constrain information technology and other projects: cost, scope, and time.3. A
A company has elected to pursue the initiatives listed in part a. For each initiative, describe which Balanced Scorecard perspectives the initiative will address and, specifically, which of the performance measures in part b it will affect.a. InitiativesPurchase new, more efficient, production
Select a prominent company that experienced problems during the 2008–2010 economic downturn, such as Bank of America, Goldman Sachs, or AIG. Use annual reports and news articles from that time to develop a strategy map that describes the elements that caused the company’s financial problems?
Use the company that you selected for Problem 1. Identify examples of its learning and growth efforts and explain how those might affect its business process performance?
Select a prominent public company, such as Apple, Google, or Microsoft. Obtain recent annual reports and news articles about the company. Using that information, develop a strategy map that describes the company’s performance. Start by defining its value proposition, and then identifying key
The CEO of a midsized company is considering purchasing an ERP system but may not have fully considered the other changes that the company needs to make to maximize the value of the system. Using a Balanced Scorecard framework, create a strategy map that describes how the ERP system could benefit
Describe likely differences in a Balanced Scorecard between a for-profit company and a not-for-profit (or governmental) organization. Which perspectives are each organization more likely to focus on?
Outline a Balanced Scorecard for your business school. How would using your Balanced Scorecard system affect the management of the school?
A company is developing key process indicators (KPI) for the information capital aspect of its learning and growth. It is considering measuring the amount spent on information technology hardware and software as its measure. What advice would you give it about that choice?
A biotech company is considering developing an IT system that will track the progress of its drug compounds through the Food and Drug Administration (FDA) approval process. Describe, as specifically as possible, how that IT initiative might affect performance across all four Balanced Scorecard
Does the Balanced Scorecard framework provide a performance measurement system or a performance management system? Why?
Some companies create a Balanced Scorecard by taking some current objectives and key performance indicators (KPI) and assigning them to the four Balanced Scorecard perspectives. Describe the advantages and disadvantages of that approach?
If a company does not want to implement a formal Balanced Scorecard performance management system, is it still beneficial for the company to develop a strategy map? Why or why not?
One criticism of the Balanced Scorecard is that it can lead to information overload by measuring too many performance indicators. Do you agree with this criticism? Why or why not?
Consider a company that competes on price, such as Walmart, in comparison to a company that competes on other factors, such as Starbucks. Describe how their Balanced Scorecard objectives and the corresponding measures would differ across the four perspectives?
1. Which of the following is not a Balanced Scorecard perspective?a. Learning and growthb. Customerc. Business processd. Financiale. All of the above are Balanced Scorecard perspectives.2. Which of the following is not a type of business process in the Balanced Scorecard framework?a. Operations
As chief executive auditor, Mallory Williams heads the internal audit group of a manufacturing company in southern Texas. She would like to purchase a CAAT tool to assist her group in conducting internal audit functions. She has asked you to prepare a report on the following tools: ACL, IDEA,
Identify the key feature and components of a continuous audit?
Describe how an auditor would use each of the following audit techniques: ITF, parallel simulation, EAM, GAS?
Continue from Problem 8. Select HOME > PivotTable to create a PivotTable report from your integrated Power Pivot tables.a. Use the ChannelName from the DimChannel table as the first rows field. Use the calculated column 1 field from the FactSales table as the second rows field. Use the
Open Tableau (if you don't have Tableau, you can download a free trial from www.tableau.com).After Tableau opens, connect to the Excel data and browse to the location of the Chapter 9 problem data. After importing, there will be two worksheets, Customers and Orders. Drag both of those to the box
Open the Tableau Workbook you created in Problem 10.1. Click on create a new worksheet.2. Create a calculated "amount" field to multiply quantity sold times price (click on the Analysis tab and select Create Calculated field.)3. Create a horizontal bar chart to show the sum of sales amounts (the
Open the Tableau Workbook you created in Problem 10 and updated in Problem 11.1. Create a vertical bar chart to show total sales (the field calculated in Problem 11) for each store. (Drag the Amount measure to the Rows shelf. Drag the Store# dimension to the Columns shelf.)2. Use the "Show Me"
Open the Tableau Workbook you saved at the end of Problem 12.1. Create a new worksheet.2. Create a calculated field for the month in which the sale took place and name the new field "month."3. Drag the month field from Measures to the Dimensions section in the data panel by dragging it to the
1. A subset of a data warehouse is called a:a. Small data warehouse.b. Data mart.c. Data martian.d. Business intelligence.2. A data warehouse may include:a. An XBRL style sheet.b. Competitor information.c. A digital dashboard.d. An iPad.3. American Airlines may use business intelligence to:a. Track
Why do companies need both internal and external databases in a data warehouse?
How is a digital dashboard different from a financial report?
The effectiveness of data mining has been criticized by the Wall Street Journal. In one article, the author notes that academic studies have shown that by using data mining, analysts could accurately predict changes in the stock market based on either the population of sheep in Bangladesh, the
There are four stated advantages of XBRL GL: reporting independence, system independence, consolidation, and flexibility. Match the advantage with the characteristic of XBRL GL.1. XBRL GL offers an extensible, multinational solution that can exchange the data required by internal finance,
Match the description of these XBRL terms with their descriptions.Source: http://www.ge.com/annual01/letter/cockpit/.1. A document containing XBRL elements.2. Adds presentation elements to XBRL instance documents to make them more readable to people.3. Defines and describes each key data element
Match the description with these business process terms.1. A subset of the information from the data warehouse to serve a specific purpose.2. A computer-based information system that facilitates business decision-making activities.3. A collection of information gathered from an assortment of
The following figure represents a digital cockpit (or dashboard) for General Electric.The cockpit has 15 items highlighted. Identify which numbered item tracks or shows the following data:a. The sales of General Electricb. The detail of the sub-businessc. The previous day€™s ordersd. The
Data mining is the process of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that were not previously known. The patterns we find are correlations, but not necessarily causation.Every time we see a link between the
Data mining is the process of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that were not previously known. The patterns we find are correlations, but we do not necessarily find causation.Newspaper headlines often link one
Data mining is the process of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that were not previously known. The patterns we find are correlations, but we do not necessarily find causation.Newspaper headlines often link one
Consider each of the following statements and state whether they are true or false.1. XBRL allows tagging to highly disaggregated data2. XBRL GL allows the representation of anything that is found in a chart of accounts, journal entries, or historical transactions–financial and nonfinancial.3.
1. Based on SOX, which of the following sections is about internal controls?a. 302b. 401c. 404d. 9062. SOX requires companies to use COSO or COSO ERM as the framework in evaluating internal controls.a. Trueb. False3. Controls that are designed to prevent, detect, or correct errors in transactions
There are three types of controls: preventive, detective, and corrective. List some examples of each type. Explain which type of control auditors would focus on while evaluating a company’s effectiveness of controls and why.
The COSO 2013 internal control framework codifies 17 relevant principles associated with the five components of internal control. Match the following principles with the five components.COSO Principlesa. Management establishes, with board oversight, structures, reporting lines, and appropriate
Identify each of the following internal controls as a primarily preventive, detective, or corrective control.a. Limit access to petty cash funds.b. Reconcile the petty cash fund before replenishing it.c. Require two signatures on checks above a specified limit.d. Enable hidden flags or audit trails
Match the following internal controls with the categories of control activities.Internal Controlsa. Separate handling cash (receipt and deposit) functions from record-keeping functions (recording transactions in the accounts receivable subsidiary ledger).b. Require purchases, payroll, and cash
Match the following control frameworks with their main purposes.Purposesa. Expand internal controls to provide a broader view on risk management to maximize firm value.b. Provide management an information technology (IT) governance model that helps in delivering value from IT and understanding and
Phishing is an example of social engineering where the attacker attempts to trick people into giving them personal information. Give two examples of phishing?
1. (CISA exam, adapted) Authentication is the process by which the:a. System verifies that the user is entitled to enter the transaction requested.b. System verifies the identity of the user.c. User identifies him- or herself to the system.d. User indicates to the system that the transaction was
Match the continuous auditing alarms to flag the fraud schemes.Fraud Schemea. Operating expenses were illegitimately reclassified as capital expenditures, which improved the “expenditure-to-revenue” (E/R) ratio by reducing the amount of expenses recorded in the current fiscal year.b. Book
How can data integrity be ensured when conducting e-business? Why is it critical to e-business?
The previous chapter identifies COBIT and ISO 27000 as information security frameworks. How do they relate to GTAG’s Vulnerability Assessment? What similarities and differences are there between these three?
Disaster recover planning (DRP) and business continuity management (BCM) help businesses manage security risks. What similarities and differences exist between these two approaches?
Match the descriptions with each encryption method?Descriptionsa. Good for large data setsb. Slow in processingc. Convenient for key distribution and key managementd. Each user has a public key and a private keye. Good for authenticationEncryption Methodi. Symmetric-key encryptionii. Asymmetric-key
Match correct statement(s) with each term regarding system availability?Internal Controlsa. Activities required to keep a firm running during a period of displacement or interruption of normal operationsb. A process that identifies significant events that may threaten a firms operations and outline
Identify the main components of vulnerability management and assessment?Componenta. Prioritize vulnerabilitiesb. Design a risk response planc. Monitor vulnerabilitiesd. Establish policy and requirementse. Identify vulnerabilitiesCategoryi. Vulnerability managementii. Vulnerability assessment
There are five types of fraud schemes in systems development cycles (refer to Figure 12.6)? Identify an example of each type.FIGURE 12.6: Phase Scenario Oversights Requirements Definition Phase 195 illegitimate drivers' licenses are created and sold by a police communications officer who
Internal auditors are often tasked with testing vulnerabilities. How would you suggest testing for system intrusion, logical access control, natural disasters, and intentional destruction of information?
Browse the Internet to identify some recent cases related to system availability. What are the risks and issues in system availability of these cases? Indicate possible controls to mitigate the risks.
Consider each of the following fraud cases. Identify the incentive, opportunity, and rationalization present in each case.a. An employee of a telecommunications firm's payroll department moved to a new position within the department in which she no longer has privileged access to payroll accounts.
1. A local area network (LAN) is best described as a(n):a. Computer system that connects computers of all sizes, workstations, terminals, and other devices within a limited proximity.b. System that allows computer users to meet and share ideas and information.c. Electronic library containing
Consider the computer attacks in the previous chapters. How would a VPN protect a user from one or more of them?
We often use regression analyses in data mining. Are accountants required to understand data mining? Why?
Firewalls rely on a list of allowed and blocked services and locations. What would happen if a company’s firewall rules were too weak? If the firewall rules were too strict?
Using a brute-force attack, hackers can crack the password to a WEP access point in about 5 minutes and WPA2 in about 2 days. What does this tell you about the security of wireless networks?
Auditors are constantly developing new CAAT analyses to help them in the assurance process. Use a search engine to identify some of the techniques that are being used currently?
When would an auditor prefer to conduct a black-box audit? A white-box audit?
Continuous auditing allows auditors to validate data and monitor transactions in near real-time. What advantages does this provide to auditors? What are some potential problems with continuous auditing?
Match the descriptions with each type of network?Descriptionsa. This computer network covers a broad area (e.g., includes any network whose communications link cross metropolitan, regional, or national boundaries over a long distance).b. The Internet is a good example of this type of network.c.
Ellen wants to know how many books each author wrote. Write a SQL statement to provide such information to Ellen?Use the following information:Ellen Novotny started an online bookstore in 2017. You are Ellen€™s best friend and promised to help her. Ellen asked you to create a small
You are going to send e-mails to inform the customers that the books ordered have been shipped. Write a SQL statement to obtain the complete information on the book title(s), unit price(s), and the number of each book purchased to be sent to the customers?Use the following information:Ellen Novotny
Ellen wants to know how many copies of each book were sold. Write a SQL statement to obtain the necessary information you think Ellen wants?Use the following information:Ellen Novotny started an online bookstore in 2017. You are Ellen€™s best friend and promised to help her. Ellen asked
Ellen wants to know the dollar amount of total sales made on September 1, 2017. Write a SQL statement to obtain the necessary information you think Ellen wants?Use the following information:Ellen Novotny started an online bookstore in 2017. You are Ellen€™s best friend and promised to
The Cash Receipt table below contains seven attributes. Which of those could possibly be foreign keys?Cash Receipt Remittance Advice # Amount Customer # Check # Invoice # Cashier # E-13345 Date RA-220 11/02/2016 2549.90 C-12 201 S-101 RA-278 11/10/2016 699.90 11/30/2016 E-13347 C-5 1457 S-108
A sales invoice typically includes the date of sale, salesperson, customer data, items included in the sale, and amount. Which foreign keys should be added to the following table to link all of these data elements?Sales Invoice # Date Amount S-101 10/05/2016 2549.90 S-105 11/01/2016 949.95
1. Which of the following is not an activity within the sales and collection process?a. Selling products and servicesb. Billing customersc. Managing inventoryd. Recording payments from customerse. All of the above are sales and collection activities.2. The sales and collection process is the point
The sales and collection process generates revenue, accounts receivable, and cash flow information for a firm’s financial statements. What other information do you think managers would like to collect?
What kinds of businesses collect cash before recording the corresponding sales? How would that different sequence affect internal control requirements?
Draw a basic sales activity model using BPMN for a fast-food restaurant. Draw a second basic sales activity model using BPMN for a traditional restaurant. Discuss similarities and differences. How would you add taking reservations to the second model?
Draw a collaboration diagram that shows two pools and the message flows between a fast-food restaurant and its customers. How would you change that diagram for a traditional restaurant?
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