Question: Jump Ltd develops cloud based accounting software for Australian and New Zealand law firms. Hunter, a systems analyst for Jump Ltd, has just identified a

Jump Ltd develops cloud based accounting software for Australian and New Zealand law firms. Hunter, a systems analyst for Jump Ltd, has just identified a problem in one of the program algorithms used to calculate and record GST on sales. The result of this problem is that the current version of the software has undervalued Hero's clients' GST receivable.

Required:

Identify the internal controls which would have prevented the faulty version of this program being used live on client data.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Question 4 Consider the following independent situations: 1. Hero Ltd develops cloud based accounting software for Australian and New Zealand accounting practices and commercial businesses. Louise, a...

Consider the following independent situations: 1. Hero Ltd develops cloud based accounting software for Australian and New Zealand accounting practices and commercial businesses. Louise, a systems...

I need a 10 page paper for my MIS class. Please do not copy and paste as my school is getting stricter on plagiarism. I have attached the assignment and the sample \fData Analytic Thinking 1 Data...

IVEy Publishing W21115 ZIP: IN NEED OF GROWTH-ORIENTED COMPETITIVE STRATEGIES1 Arpita Agnihotri and Saurabh Bhattacharya wrote this case solely to provide material for class discussion. The authors...

Winning against Competition: IVEy Publishing W21115 ZIP: IN NEED OF GROWTH-ORIENTED COMPETITIVE STRATEGIES1 Arpita Agnihotri and Saurabh Bhattacharya wrote this case solely to provide material for...

can any expert help me with the below assignment just only 2 questions ,please read the requirment word by word and be careful about the style of the reference(APA) , file 3.1 is for question...

just only 2 questions ,please read the requirment word by word and be careful about the style of the reference(APA) , file 3.1 is for question 2..BTW,please focus the every step FINANCE SPOTLIGHT...

Please help with the assignment for the following attachment. FOR IMMEDIATE RELEASE 12 October 2015 Myer Holdings Limited 2015 Annual Report and Notice of Annual General Meeting Myer Holdings Limited...

Three point charges, A = 2.15 C, B = 6.80 C, and C= -4.10 C, are located at the corners of an equilateral triangle as in the figure above. Find the magnitude and direction of the electric field at...

The 2000 U.S. passenger-car production totals are shown at right. a. Make a box plot of these data. b. Make a histogram using a bin width that provides meaningful information about the data. c....

For each of the income statement items listed below, please explain the logic behind your estimates for that individual item: 1 . Explain the logic behind your estimates of future Food, Beverage, and...

1. In cell A1 type in your name. 2. In cell A2 type in your email address. 3. In cell Bl give a formula to nd today's date. Make sure the formula will update to the current date every time it is...