This approach is useful for compliance reviews where operators should do what thecontract, law, regulation, or procedures documentation requires .lt also useful for financialreviews, where accountants and others involved in record keeping and preparingfinancial statements must adhere to applicable accounting standards.O Process Flow MapO Value Stream MapO Cause and EffectO Force Field Analysis« PreviousNext »Not savedSubmit C

Answer: The correct answer is option (b) Value stream map Value stream Map gives the clear overview…

Answered: This approach is useful for compliance…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter2: The Accounting Information System

Section: Chapter Questions

Problem 1MCQ

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Use the flowchart above toanswer these questions: a. What accounting document is representedby symbol A?b. What is an appropriate name for thedepartment labeled B?c. What would be an appropriate descriptionfor process C?d. What is the location represented bysymbol D?e. What accounting record is represented bysymbol E?f. What is an appropriate name for thedepartment labeled H?g. What device is represented by symbol F?h. What device is represented by symbol G?i. What accounting record is represented bysymbol G?
38. This approach is useful for compliance reviews where operators should do what the contract, law, regulation, or procedures documentation requires .It also useful for financial reviews, where accountants and others involved in record keeping and preparing financial statements must adhere to applicable accounting standards. Group of answer choices Cause and Effect Value Stream Map Process Flow Map Force Field Analysis
Identify risks for accounting systems that rely heavily on IT functions.
Management accounting data are expected to be objective and verifiable. Select one: O True False
Answe these questions in relation to accounting packages systems
Which of the following statements is the best definition of an accounting information system? A. A framework that uses computers to produces financial statements B. A framework that coordinates resources (components) needed to convert information into data in order to achieve objectives C. The management information system that generates various reports for management decisions D. A framework that coordinates resources (components) needed to convert data into information for decision making
Drag and drop the items to complete the diagram of Qualitative Characteristics of accounting information. Free from Error Completeness FAITHFUL REPRESENTATION Verifiability Ingredients of fundamental qualities Materiality Neutrality Understanda- bility Predictive Value Enhancing Qualities Comparability Confirmatory Value Fundamental Qualities Timeliness RELEVANCE
5. During a systems audit, the system performance is compared to Styles Editing VoicE a similar systems b. newer systems Sensutivity c. the design specifications d. competing systems 6. Enterprise resource planning (ERP) represents a The system that integrates financial data with non financial operatiing data. b. The system that integrates only financial aspects of business activities. The system that integrates only non-financial aspects of business activities d. The system that integrates financial aspects of a company's operations with its traditional AIS. C. 7. The components of IT should include: a Software, people, data, and information technology infrastructure, People, procedures, data, and information technology infrastructure. Hardware. software, data, networks, and people. d People, data, IT infrastructure, and internal control measures. Ic.
Which of the following sets of application characteristics of an accounting application might influence the selection of data entry devices and media for a computerized accounting system?a. Timing of feedback needs relative to input, need for documentation of an activity, and the necessity for reliability and accuracy.b. Cost considerations, volume of input, complexity of activity, and liquidity of assets involved. c. Need for documentation, necessity for accuracy and reliability, volume of output, and cost considerations. d. Relevancy of data, volume of input, cost considerations, volume of output, and timing of feedback needs relative to input. e. Type of file used, reliability of manufacturer’s service, volume of output, and cost considerations.
Management accounting considers these factors more important than others.a. verifiability, objectivity and accuracyb. relevance, flexibility and timelinessc. consistency and disclosured, authenticity and reliability
explain the reasons why accounting information analysts have different types of diagrams and other documentation to depict different views (e.g. process, logic, and data) of an information system?
Define the following accounting terms: 1) Entry - level software 2) Internal control 3) Network - compatible 4) Enterprise resource planning systems 5) Audit trail

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