AIS requirements would be well-suited to outsourcing its data processing? 000
Q: Why have re-engineering efforts been made to integrate AIS and MIS?
A: An Accounting Information System (AIS) uses financial data where a Management Information System…
Q: Why can the formal announcement of a new system technique be crucial?
A: Formal Announcement: Formal announcement in context to a new system technique means to make the…
Q: Are computer ethical challenges novel or are they a reimagining of existing themes?
A: Definition: Ethics: Ethics may be described as the behavior a person exhibits while deciding between…
Q: how to relate cloud accounting with cost management?
A: Cloud Accounting Cloud Accounting software is similar to traditional, on premises or self installed…
Q: Q1: Explain the following: (250 words) Big Data Analysis Distributed Computing Virtualization
A: Big Data Analysis: Big data analytics refers to the application of advanced analytic techniques to…
Q: In the context of the TELOS acronym, technical feasibility refers to whethera. a proposed system is…
A: TELOS: TELOS stands for Technical, Economic, Legal, Operational and Schedule feasibility. It is the…
Q: How can spreadsheet software, such as Excel, help with sensitivity analysis?
A: Sensitivity analysis: The method used to evaluate and analyze the various reasons for achieving the…
Q: Comment on the role of AI in Reg-Tech. What aspects of AI have been influential in Reg-Tech’s…
A: There has tremendous growth in financial sector due to which there is need of more sophisticated…
Q: What are the Alternative Courses of Action to deal with the problems that needs to be identify,…
A:
Q: 5. What is the role of IT auditor in the Strategic Planning, Project Management and Software…
A: An auditor may be a person authorized to review and verify the accuracy of monetary records and make…
Q: When is a New AIS is needed?
A: AIS is accounting information system is a whole information system which provides information about…
Q: 1. Why would a company use CVP analysis?
A: Cost-volume-profit analysis, or CVP, is something companies use to figure out how changes in costs…
Q: What is a dynamic virtual organization?
A: Dynamic Virtual Organization: Dynamic virtual organization is a firm where a platform is provided to…
Q: What are the advantages of real-time data collection?
A:
Q: Apply the P.R.O.F.I.T. model to identify Infosys capabilities. Identify from the case study…
A: Solution- Core competencies of Infosys- (1) Infosys has nurtured the mentality of learning…
Q: What are the strengths and weaknesses that you see in the AIS system and ways that you would improve…
A: AIS stands for accounting information system that is a computer based method used by the company in…
Q: What are the things that need improvement in Xero Accounting Software?
A: Xero is an accounting software. By using of this software it help business to record business…
Q: Blockchain is a technology that?
A: Blockchain ( Chain of blocks ) : It is a system which records the message , text or information in a…
Q: how would you implement the SA8000 model in an organization?
A: SA8000 model : This model is considered a Social accountability standard with the International…
Q: ntages of using different man
A: Software is combination of many program that works together to achieve a desired function. These…
Q: What was so unique about SAP's first ERP system?
A: SAP (Systems, Applications and Products) was a firm that started in Germany in 1872 and launched its…
Q: What are the advantages of real-time processing?
A: Real Time Processing: Real time processing is performed in conditions where the transactions in the…
Q: Your organization is considering acquiring bolt-on software for your ERP system. What approaches are…
A: Enterprise resource planning (ERP): ERP refers to the system that includes various functional…
Q: Which of the following is a disadvantage of distributed data processing? a. End-user involvement in…
A: Distributed data processing is a method of computer networking. In this method, several computers in…
Q: Which statement best describes the issue of distributed data processing (DDP)?a. The centralized and…
A:
Q: Data in a data warehouse are in a stable state. Explain how this can hamper data mining analysis.…
A:
Q: What is an enterprise resource planning (ERP) system? What are the advantages and disadvantages of…
A:
Q: If an organization processes transactions that have independent (unique) data needs, what type of…
A: Definition: Transaction process system: The transaction process system helps a business to process…
Q: What are the computer ethical issues regarding artificial intelligence?
A:
Q: In what ways do turnkey systems have advantages and disadvantages that you should know about?
A: Introduction: Under a turnkey system, the firm designs, constructs, runs, and transfers a production…
Q: Can you explain some impacts of implementing software-based AIS (Accounting Information System) on…
A: Accounting information system (AIS) which helps in gathering, processing as well as storing the…
Q: Define SAP Supply Chain Execution?
A: SAP supply chain management is the software that helps to cover the supply chain processes. It…
Q: What are CAATs (Computer-aided audit tools)?
A: CAAT is a technique through which, computer is being used in performing some part of the auditing…
Q: What are some strengths and weaknesses in the AIS system and ways to improve any weaknesses…
A: AIS stands for Accounting information system which is a method based of computer used through…
Q: As users determine new computer application needs, requests must be sent to both the system…
A: Database Management: Database management refers to management of databases held within an…
Q: What is a New Accounting System (AIS) needed?
A: An accounting information system is an application of Information technology to accounting, audit,…
Please answer multichoice question in photo
Step by step
Solved in 2 steps
- Posavek is a wholesale supplier of building supplies building contractors, hardware stores, and home-improvement centers in the Boston metropolitan area. Over the years, Posavek has expanded its operations to serve customers across the nation and now employs over 200 people as technical representatives, buyers, warehouse workers, and sales and office staff. Most recently, Posavek has experienced fierce competition from the large online discount stores. In addition, the company is suffering from operational inefficiencies related to its archaic information system. Posavek revenue cycle procedures are described in the following paragraphs. Revenue Cycle Posaveks sales department representatives receive orders via traditional mail, e-mail, telephone, and the occasional walk-in customer. Because Posavek is a wholesaler, the vast majority of its business is conducted on a credit basis. The process begins in the sales department, where the sales clerk enters the customers order into the centralized computer sales order system. The computer and file server are housed in Posaveks small data processing department. If the customer has done business with Posavek in the past, his or her data are already on file. If the customer is a first-time buyer, however, the clerk creates a new record in the customer account file. The system then creates a record of the transaction in the open sales order file. When the order is entered, an electronic copy of it is sent to the customers e-mail address as confirmation. A clerk in the warehouse department periodically reviews the open sales order file from a terminal and prints two copies of a stock release document for each new sale, which he uses to pick the items sold from the shelves. The warehouse clerk sends one copy of the stock release to the sales department and the second copy, along with the goods, to the shipping department. The warehouse clerk then updates the inventory subsidiary file to reflect the items and quantities shipped. Upon receipt of the stock release document, the sales clerk accesses the open sales order file from a terminal, closes the sales order, and files the stock release document in the sales department. The sales order system automatically posts these transactions to the sales, inventory control, and cost-of-goods-sold accounts in the general ledger file. Upon receipt of the goods and the stock release, the shipping department clerk prepares the goods for shipment to the customer. The clerk prepares three copies of the bill of lading. Two of these go with the goods to the carrier and the third, along with the stock release document, is filed in the shipping department. The billing department clerk reviews the closed sales orders from a terminal and prepares two copies of the sales invoice. One copy is mailed to the customer, and the other is filed in the billing department. The clerk then creates a new record in the accounts receivable subsidiary file. The sales order system automatically updates the accounts receivable control account in the general ledger file. CASH RECEIPTS PROCEDURES Mail room clerks open customer cash receipts, reviews the check and remittance advices for completeness, and prepares two copies of a remittance list. One copy is sent with the checks to the cash receipts department. The second copy of the remittance advices are sent to the billing department. When the cash receipts clerk receives the checks and remittance list, he verifies the checks received against those on the remittance list and signs the checks For Deposit Only. Once the checks are endorsed, he records the receipts in the cash receipts journal from his terminal. The clerk then fills out a deposit slip and deposits the checks in the bank. Upon receipt of the remittances, the billing department clerk records the amounts in the accounts receivable subsidiary ledger from the department terminal. The system automatically updates the AR control account in the general ledger Posavek has hired your public accounting firm to review its sales order procedures for internal control compliance and to make recommendations for changes. Required a. Create a data flow diagram of the current system. b. Create a system flowchart of the existing system. c. Analyze the physical internal control weaknesses in the system. d. (Optional) Prepare a system flowchart of a redesigned computer-based system that resolves the control weaknesses that you identified. Explain your solution.Slater & Sons Corp manufactures electronic components for use in many consumer products. Their raw materials are purchased literally from all over the world. Depending on the country involved, purchase terms vary widely. Some suppliers, for example, require full prepayment, while others are content to receive payment within six months of receipt of the goods. Because of this situation, Slater never closes its books until at least ten days after month end. In this way, it can sort out ownership of goods in transit, and document which goods were received by month end, and which were not. Drew Bolton, a new accountant, was asked to record about $50,000 in inventory as having been received before month end. He argued that the shipping documents clearly showed that the goods were actually received on the 8th of the current month. His boss, busy with month-end reports, curtly tells Drew to check the shipping terms. He did so, and found the notation "FOB (free on board) shipper's dock" on…QT, Inc., and Elppa Computers, Inc., compete with each other in the personal computer market. QT assembles computers to customer orders, building and delivering a computer within four days of a customer entering an order online. Elppa, on the other hand, builds computers for inventory prior to receiving an order. These computers are sold from inventory once an order is received. Selected financial information for both companies from recent financial statements follows (in millions): QT Elppa Sales $56,940 $120,357 Cost of merchandise sold 44,754 92,385 Inventory, beginning of period 1,382 6,317 Inventory, end of period 1,404 7,490 a. Determine for both companies (1) the inventory turnover and (2) the number of days' sales in inventory. Round your calculations and answers to one decimal place. Assume 365 days a year. QT Elppa 1. Inventory turnover fill in the blank 1 fill in the blank 2 2. Number of days' sales in inventory…
- QT, Inc., and Elppa Computers, Inc., compete with each other in the personal computer market. QT assembles computers to customer orders, building and delivering a computer within four days of a customer entering an order online. Elppa, on the other hand, builds computers for inventory prior to receiving an order. These computers are sold from inventory once an order is received. Selected financial information for both companies from recent financial statements follows (in millions): QT Elppa Sales $56,940 $120,357 Cost of merchandise sold 44,754 92,385 Inventory, beginning of period 1,382 6,317 Inventory, end of period 1,404 7,490 a. Determine for both companies (1) the inventory turnover and (2) the number of days' sales in inventory. Round your calculations and answers to one decimal place. Assume 365 days a year. QT Elppa 1. Inventory turnover fill in the blank 1 fill in the blank 2 2. Number of days' sales in inventory…Manning Systems is a commercial software vendor that sells billing and other financial software to companies around the globe. Manning operates a centralized call center for customer support calls. Costs associated with use of the center are charged to the division with primary responsibility for the client. There are four geographical divisions: North America (NA), Central and South America (SA), Europe, and Asia-Pacific (APAC). The allocation is based on the length of time of calls made (Minutes). Idle time of the reservation agents and the fixed cost of the equipment are allocated based on the number of calls received (Calls) from clients in each division. Due to recent increased competition in the commercial software business, Manning has decided that it is necessary to better allocate its costs in order to price its services competitively and profitably. During the most recent period for which data are available, the use of the call center for each division was as follows:…ACME Corporation is a software development company that develops software for their clients. Their most popular product of them all is an accounting software suite. It is targeted for small and medium enterprises, and available to be bought in different online software stores. Apart from the basic cashflow management features, it also has various plugins to integrate different business operations such as inventory, purchases and invoicing. A perpetual license costs a company around HK$100,000 without the need to pay periodically for maintenance. a) A sales representative had been approaching Company X proactively, asking them to buy a copy of their product. A manager in Company X thought the product itself is suitable, but rejected the offer, quoting the high price and their investment of buying the software is too risky for the company to bear. If you were an executive in ACME and wanted to address concerns expressed by Company X. What do you think would be a suitable alternative…
- WanKea Berhad is the biggest retailer of ofice stationeries in Malaysia. The company buys the stationeries from several major suppliers and sells to walk-in customers as well as over 500 business customers. In line with its business expansion and digitalisation, WanKea Berhad plans to upgrade its Information Systems Department and to integrate new IT equipment and software into its business process. As a result of this modernisation exercise.WanKea Berhad will reduce its employees from 587 to 73 staf. Those will be affected are mainly clerks and junior managers.The modernisation exercises will include the integration of computer-based cash registers directly with account receivable, sales. perpetual inventory records and sales commission expenses. The total amount of the sales.including sales tax. is automatically computed by the systems and displayed on cash register's screen. The only printed information for cash sales is the cash register receipt. which is given to walk-in…QT, Inc. and Elppa Computers, Inc. compete with each other in the personal computer market. QT assembles computers to customer orders, building and delivering a computer within four days of a customer entering an order online. Elppa, on the other hand, builds computers for inventory prior to receiving an order. These computers are sold from inventory once an order is received. Selected financial information for both companies from recent financial statements follows (in millions): QT ElppaSales $56,940 $120,357Cost of goods sold 44,754 92,385Inventory, beginning of period 1,382 6,317Inventory, end of period 1,404 7,490a. Determine for both companies (1) the inventory turnover and (2) the…Armada Shipping is a global logistics company. The company is organized into two divisions: Contracts and Retail. The Contracts Division, which is by far the larger division, handles customers who have regular shipping requirements and have signed contracts specifying costs and schedule for up to one year. The Retail Division handles shipments for customers who have only occasional shipping requirements and pay on an as-used basis. Billing for all customers is handled by the corporate Accounts Receivable Department. Accounts Receivable performs two major activities: billing and accounts. Billing refers to preparing and sending the bills as well as processing the payments. Accounts refers to establishing accounts, ensuring credit status, following up on collection, and so on. The costs of the Accounts Receivable Department are allocated to the two divisions based on the number of bills prepared. The manager of the Contracts Division has complained that the allocated costs from Accounts…
- Armada Shipping is a global logistics company. The company is organized into two divisions: Contracts and Retail. The Contracts Division, which is by far the larger division, handles customers who have regular shipping requirements and have signed contracts specifying costs and schedule for up to one year. The Retail Division handles shipments for customers who have only occasional shipping requirements and pay on an as-used basis. Billing for all customers is handled by the corporate Accounts Receivable Department. Accounts Receivable performs two major activities: billing and accounts. Billing refers to preparing and sending the bills as well as processing the payments. Accounts refers to establishing accounts, ensuring credit status, following up on collection, and so on. The costs of the Accounts Receivable Department are allocated to the two divisions based on the number of bills prepared. The manager of the Contracts Division has complained that the allocated costs from Accounts…Leapin’ Larry’s Pre-Owned Cars has two divisions, Operations and Financing. Operations is responsible for selling Larry’s inventory as quickly as possible and purchasing cars for future sale. Financing Division takes loan applications and packages loans into pools and sells them in the financial markets. It also services the loans. Both divisions meet the requirements for segment disclosures under accounting rules. Operations Division had $32 million in sales last year. Costs, other than those charged by Financing Division, totaled $18 million. Financing Division earned revenues of $9 million from servicing loans and incurred outside costs of $10 million. In addition, Financing charged Operations $8 million for loan-related fees. Operations’s manager complained to Larry that Financing was charging twice the commercial rate for loan-related fees and that Operations would be better off sending its buyers to an outside lender. Financing's manager replied that although commercial rates…Leapin’ Larry’s Pre-Owned Cars has two divisions, Operations and Financing. Operations is responsible for selling Larry’s inventory as quickly as possible and purchasing cars for future sale. Financing Division takes loan applications and packages loans into pools and sells them in the financial markets. It also services the loans. Both divisions meet the requirements for segment disclosures under accounting rules. Operations Division had $74 million in sales last year. Costs, other than those charged by Financing Division, totaled $32 million. Financing Division earned revenues of $23 million from servicing loans and incurred outside costs of $24 million. In addition, Financing charged Operations $22 million for loan-related fees. Operations’s manager complained to Larry that Financing was charging twice the commercial rate for loan-related fees and that Operations would be better off sending its buyers to an outside lender. Financing's manager replied that although commercial…