Corporate Accounting Information Systems 1st Edition Tony Boczko - Solutions

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‘Excessive stocks can camouflage manufacturing problems and lead to overproduction of products.’ Discuss.
Explain why it is important for the accountant to be involved in product development.
Briefly explain the internal control procedures that could be used to detect and/or prevent the following:n the theft of work-in-progress by factory employees, n the issue of a production order for products that are already overstocked in the company’s stores, n the theft of completed production
If the activity cost-based approach is seen as superior to the absorption cost-based approach and the variable cost-based approach, why is it still rarely used in practice?
You have recently been appointed as production accountant for a small manufacturing company that produces leather accessories and has recently been asked to explain the need for the following:n the regular production of a master production schedule, n the RFID tagging of materials, components and
Distinguish between retained earnings and retained profits.
Briefly describe and explain the main types of internal controls you would expect to find in the management of derivative instruments.
Describe the functions of a share registrar.
What information would you expect to find in a fixed assets register?
Distinguish between an open tender, restricted tender and a negotiated tender.
Identify and describe the main differences between the Baumol cash management model and the Miller–Orr cash management model.
Describe the main functions of the general ledger.
Briefly describe and explain the following categories of internal controls normally found in a stock management system:n movement-related internal controls, n security-related internal controls, n quality-related internal controls, and n information management-related internal controls.
Briefly describe the alternative types of RFID tags available and explain how the use of such tags could improve the management of fixed assets and current assets.
Why is it important for a company/organisation to undertake a regular physical stocktake of all stock held?
The management of fixed assets can be divided into three stages:n the acquisition stage, n the retention stage, and n the disposal stage.Required Briefly describe the main purpose of each stage and the internal controls you would expect to find in a medium-sized retail company.
You are an internal auditor working for Eketel plc., a UK-based retail company. The company has an in-house training policy that requires all graduate entrants to the company’s finance department to work within the internal audit department for the first six months of their training contract. The
Kiley plc is a UK-based retailer. The company regularly invests surplus funds in seven-day notice short-term deposits on the UK money market. Currently, such short-term deposits pay an interest of 5% per annum. Also currently, Kiley plc has cash payments for each month totalling £1,250,000, per
One of the most important operational resources a company possesses is undoubtedly cash. Often regarded as the lifeblood of corporate activity, cash systems (especially cash receiving systems) are surrounded by elaborate internal control procedures, often based on the separation of operational
‘In computer-based accounting information systems, the general ledger is no longer required and is, to all intent and purposes, redundant.’ Discuss.
Distinguish between a dotcom company, a dotbam company and a dotbam+ company.
Distinguish between a symmetric key algorithm and an asymmetric key algorithm.
Briefly describe the main provisions of the UK Electronic (EC Directive) Regulations 2002.
‘Despite the rhetoric to the contrary, the internet-based “virtual shop” will never replace the traditional highstreet retail outlet.’ Discuss.
Companies and organisations are increasingly using a range of alternative schemes/technologies to protecttheir information systems and e-commerce facilities.Such schemes/technologies include the use of:n system firewalls,n intrusion detection systems,n data/information encryption facilities,n
Whilst e-commerce-related activities have grown substantially over the past few years, in general, consumersare still unwilling and/or unable to accept the online self-service e-commerce business model.RequiredExplain why such a reluctance to accept the online self-service e-commerce business model
Retail companies/organisations increasingly use their websites for a range of activities other than e-commercebased retail sales. Such activities include:n product/service advertising activities,n prospect generation activities, andn customer support activities.RequiredExplain what is meant by each
‘Although the benefits of e-commerce are undoubtedly significant, such benefits are not without social,political and economic cost/consequence.’ Discuss.
Distinguish between event/activity-based risk and resource/asset-based risk.
What is meant by the term ‘phishing’?
Why would a company normally deploy virus defence software at three hierarchical levels – the internet gateway level, the network server level and the desktop/workstation level?
During a recent computer system/network review of HaTiMu Ltd, the following issues were identified:n computer staff are allowed unrestricted and unmonitored access to the internet, n all company staff are allowed free access to the offices in which the main computer facilities are located, n access
The business environment of the early 21st century continues to change with increasing vigour. The growth of e-commerce and e-retailing and the use of the internet for the movement of goods, services and information has clearly promoted a greater interconnectivity. An interconnectivity that has not
Sentel plc is a UK financial services company with offices in the south-east and north-west of England. In total the company has five offices in the south east of England and six in the north-west. It currently employs 97 staff. The company has been trading successfully for 17 years. For the year
You have recently been appointed as a trainee chartered accountant at Shuster Whitehouse LLP, a Manchesterbased accounting partnership. Following your induction, a senior partner has asked you to undertake a risk review of the computer-based accounting information system of Bepolo Ltd. The company
Fraud can be defined as the use of deception with the intention of obtaining an advantage, avoiding an obligation or causing loss to another party.Although there are many types of fraud, the following – although not exclusively restricted to technologybased issues – nevertheless rely heavily on
Distinguished between preventative controls and detective controls.
Distinguished between general controls and application controls.
Define, describe and evaluate the following general controls:n organisational controls, n documentation controls, n access controls, and n asset management controls.
Define and describe the concept of business process re-engineering.
Describe the risks associated with:n EDI, and n EFT.
In relation to information and communication technology innovation and development, distinguish between:n the push effect, and n the pull effect.
In January 2006, Jessica Leigh (finance director) and Stephanie Dodsworth (sales director) both resigned from the management board of Deeport plc, a large UK retail company, following a critical report by the company’s auditors, Barber LLP. The company’s auditors found that insufficient
During a recent information systems review of HTM Ltd, the following internal control procedures were identified:n Assigning different employees to maintain physical stock in the warehouse and the stock records.n Storing high-value stock items within a secure area with authorised/restricted
The business environment of the early 21st century continues to change with increasing vigour. The growth of e-commerce and e-retailing, and the use of the internet for the movement of goods, services and information has clearly promoted a greater interconnectivity. An interconnectivity that has
VeTel Ltd is a well-established industrial cleaning company with a turnover of approximately £30m. The company has 15 regional offices throughout the UK and its head office is in Beverley.Five days ago, the company’s head office suffered severe fire and the IT services and facilities department
‘The impact of innovations and developments in information and communication technology on corporate accounting information systems has removed the need for excessive internal control.’ Discuss.
Distinguish between a financial statement audit, a compliance audit and an operational audit.
Define and explain the purpose of a content (application) audit.
Define and distinguish between each of the following terms:n generic audit software, n utility software, and n expert audit software.
Distinguish between a hard real-time system and a soft real-time system.
Describe and evaluate the primary role and function of an internal auditor, and explain how and why the role of an internal auditor has changed over recent years.
‘The external auditor is a bloodhound whose sole purpose is the detection of fraud.’ Discuss.
Real-time transaction processing systems are now far from unusual.Required(a) Explain what additional problems real-time transaction processing systems cause the auditor compared with a batch environment.(b) Explain what steps the auditor needs to take to solve the problems identified above.(c)
The use of EDI is now common in a wide range of industries.Required Explain:n the main uses of EDI, n the risks and problems associated with its use, and n the main controls an auditor would expect in a large service company using EDI as part of its operational activities.
The business environment of the early 21st century continues to change with increasing vigour. The growth of e-commerce and e-retailing, and the use of the internet for the movement of goods, services and information has clearly promoted a greater interconnectivity. An interconnectivity that has
According to Grundy (1993) there are three varieties of change. Distinguish between the following:n smooth incremental change, n rough incremental change, and n discontinuous change.
Distinguish between the following:n soft-minor change, n hard-minor change, n soft-major change, and n hard-major change.
Explain the key stages you would expect to find in the systems analysis stage of the systems development life cycle.
Distinguish between the following types of resistance n hostile aggression, n defiant opposition, and n negative projection.
Explain the main factors/issues a company/organisation should consider when selecting a hardware system.
Distinguish between the following types of outsourcing:n on-site outsourcing, n off-site outsourcing, and n blended outsourcing.
Describe the main details that would normally be covered in an outsourcing service level agreement.
Borlan plc is a UK listed and UK-based retail company. Because of significant data processing problems encountered during the 2004/05 and 2005/06 financial years, the managing director of the company launched a company-wide development review of its accounting information systems in late
Learn-a-lot Ltd is a small but expanding Leeds-based retail company that provides computer-based educational facilities and equipment for a range of public and private sector colleges and universities specialising in post-graduate professional IT courses. As a result of a recent increase in demand
Describe and evaluate the main costs/benefits associated with information and communication technologies, and explain why it is important for a company to develop an effective information and communication technology strategy.
During the systems development life cycle, it is not uncommon for a systems development team seeking to introduce new systems and procedures to face/encounter significant resistance.Required Explain why such resistance may emerge, what forms such resistance can take and how such resistance can be
Where an alleged breach of a service level agreement occurs, it is important that any such alleged breach of agreement is resolved as soon as possible. Depending on the nature and seriousness of the alleged breach, the problem resolution procedures could comprise of up to five interrelated stages,
‘The internet is a global phenomenon started by the Russians!’ Discuss.
‘The internet is a global phenomenon managed and controlled by the Americans!’ Discuss.
Computer-based accounting software can be classified into two categories:• accounting finance-related software, and • management-related software.Required Describe and explain the three types of software within each of the above categories.
The BACSTEL payment service was withdrawn at the end of December 2005 and replaced by BACSTEL-IP.Required Briefly describe the four stage processing procedure of BACSTEL-IP and explain the main advantages of the new service.Before answering the question have a look at the information available @
There are many different types of websites, some of which allow free access, some of which require a subscription to access part of their content and some of which require a subscription to access all of their content.Required Describe (with examples) eight types of website available on the web
Distinguish between:• a hub,• a bridge,• a switch, and• a router.
Distinguish between collaborative computing and affinity computing.
Distinguish between the OSI reference model and the TCP/IP reference model.
Briefly explain why the internet is often referred to as a three-tier network.
What are the major differences between:• an internet,• an intranet, and• an extranet.
Define and describe the advantages and disadvantages of:• a bus topology,• a ring topology, and• a star topology.
Distinguish between:• a wide area network (WAN),• a metropolitan area network (MAN),• a local area network (LAN), and• a personal area network (PAN).
Intranets are now an essential corporate/organisational tool.Required Explain why the use of intranets has become so important and describe the main activities intranets are used for.
The OSI model is a seven-layer reference model used as a template for the mapping of communications and computer network protocols.Required Briefly describe the content and importance of each of the seven layers, and describe the advantages and disadvantages of using such a reference model.
Soft-type networks can be categorised as:• formal bureaucracy,• formal adhocracy,• informal bureaucracy, or• informal adhocracy In which of the above categories would the following be located:• an advertising and marketing consultancy, • a privately funded medical research institute,
An extranet exists when the intranets of two or more companies/organisations are linked together.Required Describe the main benefits that can accrue from a company/organisation linking its intranet with:n the intranet(s) of its suppliers/service providers, and n the intranet(s) of its
What is meant by the term ‘purposive context’?
Distinguish between the following contact points: exit point, entry point and null point.
In relation to the Data Protection Act 1998 define the following terms:• data subject,• data controller, and• data processor.
Ergon plc was a Cambridge-based UK listed company. During the late 1990s the company produced digital positioning equipment for the global transportation sector, especially the merchant navy. The company’s products were sold throughout Europe, North America, Australia and Canada, and were widely
Louis P. Lou is managing director of Ann de-Pandy Ltd an established female lingerie retail company located in the north and the south-west of England. The company has been operating successfully for many years with the period between 1998 and 2004 being one of exceptional growth both in market
Lantern plc is a growing UK company which produces a range of biochemical products for the agricultural sector in the UK and the USA. Because of recent problems regarding the purchasing of raw chemical products, you have been asked by the managing director to make a presentation to the Board of
The Data Protection Act 1998 contains eight data protection principles which are designed to ensure data is properly handled. The data protection principles are listed on page 257.Required Critically evaluate the eight data protection principles contained in the Data Protection Act 1998 and explain
In terms of a database management system, what is the role of a data dictionary?
What is the difference between a primary key, a secondary key and a foreign key?
In terms of database design, distinguish between the bottom-up approach and the top-down approach.
To be converted into useful information, transaction data requires processing. In an accounting information systems context, such processing requires the data to be structured and organised using file orientation and/or data orientation.Required Distinguish between a file-orientated approach and a
‘Computer-based data processing is inherently risky.’ Discuss.
Because of the increasing volume and complexity of business transactions, various system of processing data have emerged. In a contemporary context, such systems include batch processing and online processing.Required Briefly describe the key characteristics of each of the above types of processing
Distinguish between the following types of flowcharts:• systems flowchart, • document flowchart, • program flowchart,explain the advantages and disadvantages of using such flowcharts as analysis tools.
The increasing use of information technology has necessitated the need for increasingly sophisticated coding systems and charts of accounts.Required Describe the qualities and characteristics of a good coding system and explain how a company would devise a chart of accounts relevant to its current
Distinguish between a debtor-based revenue cycle and a non-debtor-based revenue cycle.

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