Considerations on modeling an information system from a financial reporting perspective, by M. Victor, N. Marlena, and . Virgil,which can be found at:

http://ezproxy.umgc.edu/login?url=http://search.ebscohost.com.ezproxy.umgc.edu/login.aspx?direct=true&db=bsu&AN=116776274&site=ehost-live&scope=site

Required:

1. Critique the article by identifying gaps in the reasoning proposed by the authors.

2. To what extent do you agree with the authors' assertion that the optimization of information systems with respect to financial reporting should include the following four categories of functions:

- Automating operational activities and preparing associated data to be reported, - Properly developing the reports (group ones, annual, functional on the value chain), - Securing data access and data transfers between the subsystems involved in the reporting process, and - Providing a diagnosis with or without proposing solutions for the analyzed situations, developing financial predictions based on analyzing past and present situations. 3. Do you agree with the authors' conclusions and proposals? Why? 4. The paper includes an abstract written in Italian and the authors are on faculty at universities in Romania. To what extent does the article include concepts, recommendations, or guidance that would be in conflict with US GAAP and or outside the dominant paradigm of the US accounting industry?