Answered: Control Objectives for Information and…

Business

Accounting

Control Objectives for Information and Related Technology, Why is it important to you in your career in accounting?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 6MC: Managerial accounting produces information: to meet the needs of external users that is often...

See similar textbooks

Related questions

Q: What are the different Decision support systems in accounting? (basic accounting decision support…

A: A decision support system is an interactive data platform that analyses huge amounts of data in…

Q: How can an accounting information system provide management with information for better…

A: Accounting Information System: Accountants, consultants, business analysts, managers, chief…

Q: What are the roles played by accountants with respect to the information system?

A: Information system is the collection of people, Network, process and system that help the…

Q: Management Accounting

A: Management Accounting is the way of collection and processing of certain accounting information to…

Q: Accounting information system design is influenced by a company's business processes and business…

A: Accounting Information System:- It is the framework or structure that a business or company uses to…

Q: How is Business Analytics applied in Accounting?

A: Introduction: The purposes of accounting include maintaining a systematic record of all financial…

Q: how managers (internal user) and customers (external user) use accounting information? Give one…

A: Introduction:- Users of accounting information are classified into two types as follows under:-…

Q: business manage

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: Where does accounting information technology fit into current accounting practice?

A: Introduction: Accounting Information Technology: Accounting Information Technology is a system that…

Q: Why is accounting information so valuable to prospective users both inside and outside the company?

A: When discussing accounting information, we're referring to data that is often included in financial…

Q: Which accounting system supports decision-making in the business? O a. Personal accounting O b. Cost…

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…

Q: Why is accounting data so valuable to both within and outside the business stakeholder users and…

A: Stockholders possess shares of the corporation's capital stock. They are the genuine proprietors of…

Q: siness intelligence, and

A: Accountants use data analytics to help businesses unwrap valuable perception within their…

Q: How do an organization's activities and lines of business impact the design of an Accounting…

A: Accounting Information Systems or AIS is the system which includes processing, gathering and storing…

Q: What are the possible careers for someone skilled enough in accounting information system

A: The accounting profession has evolved from simple tax preparation and bookkeeping to the advanced…

Q: What role does accounting information systems play in contemporary accounting practice?

A: An accounting information system (AIS) constitutes of gathering, storage, and processing of…

Q: How does computerized accounting information systems affect an accounting professional’s ethical and…

A: Accounting information system ((AIS) refers to having a system in which all the business…

Q: Define strategy in accounting?

A: Strategic management accounting refers to the managing and analyzing finances of company which help…

Q: Which of the following statement is?not?correct? Select one: O a. Accounting is a service-oriented…

A: The correct answer is option c. statement c is not correct.

Q: What role do management accounting principles and practices play in assisting managers in solving…

A: Firm managers face the difficult task of managing people and understanding the real world. Market…

Q: In today's accounting profession, what function does accounting information technology play

A: Meaning of accounting information technology It is a system of collecting, storing and processing…

Q: Accounting independence in accounting information system is important. Discuss using examples.

A: Accounting Information System: A system which collects, stores and gathers information about…

Q: How does accounting software and financial analysis software make the financial executive more…

A: Accounting software and financial analysis software are used by professionals to record, summarize…

Q: Why does the accountants need to learn about information systems?

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…

Q: What role does business analytics play in accounting?

A: Data Analytics in Accounting can be used to uncover the behavioral patterns of your customers and…

Q: Management accounting information: A.helps shareholders make decisions B.is used by lenders to…

A: There are two main forms of accounting being used by the business. One is financial accounting and…

Q: Consider the use of Integrated Accounting, as a computerized accounting system. Write a discussion…

A: Computerized Accounting System refers to an accounting information system that runs on a software…

Q: Why is managerial accounting relevant to accounting majors and their future careers?

A: Accounting has its two branches; managerial accounting and financial accounting. Managerial…

Q: As an accountant, why do you need to know how to talk to systems designers and developers? What…

Q: What aspects of accounting are being influenced by information technology? Explain

A: Introduction: Computers and accounting software are used in computerized accounting to record,…

Q: Describe accounting's internal role inside a business's internal operations and processes. What is…

A: A method of communicating financial data to users such as investors, people, or the government.…

Q: What is management accounting practice? Explain briefly with relevant example. 2. What are the…

A: Answer: 1. Management accounting practice is the practice of knowing and evaluating financial…

Q: Q: What is accounting? What is the purpose of the discipline? What is financial accounting? What…

A: Ans. Accounting is a very important aspect in any business and also for any individual for numerous…

Q: Which among the following are the reasons why regulation of the accounting profession is essential?…

A: Following is the answer to the given question

Q: What variables should accountants take into account while developing a company's PPE accounting…

A: Introduction : The company's assets are the objects on its balance sheet that are expected to bring…

Q: Why does accountants need to learn about the technical aspects of information systems?

A: With the constant advancement in information technology, the accountants too need to have knowledge…

Q: Write an essay covering the following points; 1)Characteristics of management accounting

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Explain detail about Ethical values and principles in management accounting give two examples

A: Some of the ethical values and principles in management accounting are as follows: 1) Competence: As…

Q: Why is the accounting cycle critical to a business's success? (examples of why certain actions are…

A: The answer :

Q: Cite one reason why there is a continued evolution of information system and how does this affect…

A: An information system is a set of techniques, hardware, trained people, software, applications,…

Question

Control Objectives for Information and Related Technology, Why is it important to you in your career in accounting?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1 Introduction:

VIEW

Step 2 Explanation:

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

What is business ethics? Is it possible to teach ethical behavior in a management accounting course?
Managerial accounting produces information: to meet the needs of external users that is often focused on the future to meet the needs of investors that follows the rules of GAAP
External users of accounting information would include ________________. employees managers investors supervisors
How the changing of technology gives an impact on management accounting practices?
How can an accounting information system provide management with information for better decision-making?
What is the connection between the Accounting & Finance Process and the Accounting & Finance Modules in ERP Systems? and What is the new role of this for Management Accounting? How would ERP Systems help in Management Accounting?
THEORY PROBLEM Explain why accounting students should study Accounting Information Systems? Explain the Value Chain and also explain how Information Technology plays an important role in the Value Chain. Briefly describe the types of users of the SIA and what are the benefits of the output of the AIS for their work or profession? One of the characteristics of useful information is that it must be timelines and complete. Which is more important, timely but incomplete information, or complete information, but too late? Give an example! Briefly describe the purpose of internal control and provide an example of an internal control application for that purpose!
In your own words what is management accounting? In your own words what the importance of management accounting?
How does customer Satisfaction relate to management accounting? Give a practical example.
What exactly is management accounting, in your own words? What is the significance of management accounting, in your own words, and why?
As a business professional what are the different types of information are required at various levels of management for decision making?
How an accounting information system can improve the efficiency and effectiveness of the supply chain?