ACC 564 Complete Course ACC564 Complete Course

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ACC 564 Week 1 Discussion 1

"Value of Information" Please respond to the following:

Firms realize that in order to make money, they have to invest money. This can be

attributed to the information that the firm relies on. As discussed in the text, there are

seven characteristics of useful information. From the first e-Activity and assuming that

you are new CFO of Strayer University, identify the top-three characteristics you would

rely on the most for improving the profitability of the firm. Provide an example of how

each characteristic would directly help the firm in terms of profitability.

On the other hand, public and private firms are accountable to a wide range of regulators

and stakeholders. Of the seven characteristics, identify the top three that would be

applicable to meeting the needs of regulators and stakeholders. Provide an example of

how each characteristic would directly help the firm in terms of meeting the needs of

these key regulators and stakeholders.


"Impact of Design of an Accounting Information System (AIS)" Please respond to the

following:

Some of the world’s most successful companies (Fortune 500) operate multiple lines of

business. Despite this fact, many of these firms rely on a single AIS. From the second e-

Activity, for the business you researched, examine how its lines of business would affect

the design of a new AIS.



If the business was selecting a new AIS, examine how the business model would affect

the design of a new AIS.


"Evaluation of Documentation Tools" Please respond to the following:

You have been assigned to analyze the accounting information for a Fortune 500

corporation. From the e-Activity, evaluate which tools you would use to analyze its

business processes, indicating your rationale.

On the other hand, resources, such as accountants, business analysts, and I/T specialists

who rely on documentation tools, will need proper training on these tools. You have been

given the responsibility of familiarizing your team with these tools. Evaluate which

techniques, in terms of their appropriateness, you would use to get your team ready for its

first assignment—the evaluation of a firm’s internal control structure.


"David Miller" Please respond to the following:

Read the David Miller case from Chapter 5. After reading the case, describe a reason why

someone who has been entrusted with the firm’s assets would commit a fraudulent act

against the company. Based upon your understanding of the case and your professional

and personal experience, recommend a series of actions that should have been taken in

order to prevent this.

Now that the damage has been done by Mr. Miller after his last episode, the blame game

begins. Review all of the parties who contributed to his ability to commit these acts,

recommend who should be held liable, and suggest the punishment for the liable party /

parties.

ACC 564 Week 2 Assignment 1

Assignment 1: Information Needs for the AIS

Due Week 2 and worth 200 points

For this assignment, research the Internet or Strayer databases for information related to

improper assumptions concerning accounting information systems.

Write a five to seven (5-7) page paper in which you:

1. Based on your research, assess how corporate leaders may make improper assumptions related to

accounting information systems and the related information. Indicate the most negative potential

impacts on business operations related to these assumptions. Provide support for your rationale.

2. Suggest three to four (3-4) ways in which organizational performance may be improved when

information is properly managed within a business system. Provide support for your rationale.

3. Evaluate the level of system security (i.e., high, medium, low) needed to ensure information

integrity within automated business systems. Provide support for your evaluation.

4. Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites

do not qualify as quality resources.

Your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all

sides; citations and references must follow APA or school-specific format. Check with your

professor for any additional instructions.

Include a cover page containing the title of the assignment, the student’s name, the professor’s

name, the course title, and the date. The cover page and the reference page are not included in

the required assignment page length.

The specific course learning outcomes associated with this assignment are:

Examine and use data flow diagrams and flowcharts to understand, evaluate, and design

information systems.

Evaluate the approaches and techniques that are used to commit and prevent computer fraud.

Use technology and information resources to research issues in accounting information systems.

Write clearly and concisely about accounting information systems using proper writing

mechanics.


"Attacks" Please respond to the following:

You have been hired by the CFO of Strayer University to develop a plan to protect its

accounting and financial systems at a reasonable cost. Suggest a high-level plan for the

CFO. Provide support for your suggestion.

Based on your security plan recommendation, determine the system aspect that is most

likely to be violated.


"Revamping the Sarbanes-Oxley Act (SOX)" Please respond to the following:

We know that the Sarbanes-Oxley Act was created as the result of several high-profile

fraud cases. Now that the act is over 10 years old, many think that it needs to be updated

to reflect the changing times. From the e-Activity, identify and discuss at least three

changes that should be made to the act, indicating why these changes are necessary.

Create an argument supporting three items in the act that you would not change.

ACC 564 Week 3 Quiz

Question 1

The value chain concept is composed of two types of activities known as

Question 2

The value of information can best be defined as

Question 3

Refer to the chart above. At what point, measured in terms of the net cost of information, does

information overload begin?

Question 4

Paid time-off policies, job descriptions, and procedures manuals are examples of information

needed to support key decisions in what business process?

Question 5

Transaction cycles can be summarized on a high level as "give-get" transactions. An example of

"give-get" in the revenue cycle would be

Question 6

The issuing of a purchase order is part of which transaction cycle?

Question 7

Hector Sanchez works in the accounting department of a multinational manufacturing company.

His job includes updating accounts receivable based on sales orders and remittance advices. His

responsibilities are part of the company's

Question 8

What usually initiates data input into a system?

Question 9

Which of the following is conceptually similar to a journal in a manual AIS?

Question 10

A subsidiary ledger

Question 11

In a data flow diagram of the customer payment process, "Customer payment" will appear above

or in

Question 12

Chas Mulligan has been hired by Yardley Security as an assistant to the internal auditor. He has

been asked to document the existing accounting information system, and focus on the activities

and flow of data between activities. He decides to begin with a summary description of the

sources and uses of data in the organization and how they are processed by the system. The

documentation tool that he should employ for this purpose is a

Question 13

The Union Soup Kitchen is a non-profit organization that collects, stores, prepares and provides

food to the homeless in Erie, Pennsylvania. Donations of food are recorded in a database and a

receipt is provided to the donor. When food is used, the database is updated so that it always

reflects the amounts and types of food that are available. In a data flow diagram, which type of

symbol would be used to represent the processing of donations?

Question 14

Flowchart symbols

Question 15

A data flow diagram

Question 16

Why is computer fraud often more difficult to detect than other types of fraud?

Question 17

Which of the following is the greatest risk to information systems and causes the greatest dollar

losses?

Question 18

The most efficient way to conceal asset misappropriation is to

Question 19

Most frauds are detected by

Question 20

Researchers have compared the psychological and demographic characteristics of white-collar

criminals, violent criminals, and the general public. They found that


"The Cloud Effect" Please respond to the following:

Many firms are relying on cloud computing, also known as “the cloud,” to perform key

business functions. By moving transactional processing to the cloud, firms are exposing

themselves to additional attacks as well as to tighter scrutiny from regulators and

stakeholders. From the e-Activity, assume that you are the CFO of Amazon.com. Create

an argument indicating how your firm will be able to balance the needs of security with

the desire of being a dominant player in the global market.

As the CFO, describe your top-three fears in competing in the global market, and how

you plan to overcome those fears. Provide support for your rationale.


"Securing Data" Please respond to the following:

In this global age of information, suggest which threats are posed to the principles of

confidentiality and privacy, related to offshore outsourcing of various information

systems functions. Provide support for your rationale.

Determine who should be held liable for any breaches that occur, and indicate the

course(s) of action that should be taken.


Assignment 2: Hacking the AIS


In today’s technology environment, hackers present a substantial risk to a firm’s accounting or

business system. As the result of these attacks, firms suffer huge losses, ranging from financial

losses to losses in confidence by consumers, creditors, and suppliers. Firms may have made a

significant investment in financial and non-financial resources to secure these systems.

For this assignment, research the Internet or Strayer databases and select a company whose

database systems have been hacked.

Write a five to seven (5-7) page paper in which you:

1. Based on the information you researched, evaluate the level of responsibility of the company in

terms of the effectiveness of the response to the security breach. Provide support for your

rationale.

2. Imagine that the company that you researched uses a third-party accounting system. Assess the

level of responsibility of the software provider to both the business and its clients. Provide

support for your rationale.

3. Create an argument for additional regulation as a preventative measure against businesses being

hacked. Provide support for your argument.

4. Provide at least three (3) recommendations for businesses to secure their systems and assets from

hackers. Provide support for your recommendation.











Examine control and security concepts related to accounting information systems to ensure data

integrity and safety.



mechanics.


"Integrity vs. Availability" Please respond to the following:

In the global enterprise, firms are insistent that their accounting information systems

(AIS) and other key systems are available 100% of the time, and that these systems are

the highest in integrity. Evaluate how a firm manages the balance of high availability

with high integrity in these days of tight budgets and additional oversight from regulators.

As a student taking online classes or relying on online resources such as libraries and tech

support, evaluate the benefits of the school providing you with 24 / 7 access to these

resources in relation to the costs incurred by the school itself.


"The 21st Century Auditor" Please respond to the following:

The 21st century auditor requires knowledge of technology and accounting information

systems in addition to his / her understanding of accounting concepts and guidelines. The

degree of knowledge in technology and AIS will vary with each auditor. Recommend the

top-five technology and AIS skills that the 21st century auditor should have. Justify your

recommendations.

Now, recommend a series of actions that need to be taken by auditors and their firms to

ensure that the auditors maintain their skills.

ACC 564 Week 5 Quiz 2

Question 1

A fraud technique that allows a perpetrator to bypass normal system controls and enter a secured

system is called

Question 2

Which method of fraud is physical in its nature rather than electronic?

Question 3

Jiao Jan had been the Web master for Folding Squid Technologies for only three months when

the Web site was inundated with access attempts. The only solution was to shut down the site

and then selectively open it to access from certain Web addresses. FST suffered significant

losses during the period. The company had been the victim of a(an)

Question 4

Jerry Schneider was able to amass operating manuals and enough technical data to steal $1

million of electronic equipment by

Question 5

A ________ is similar to a ________, except that it is a program rather than a code segment

hidden in a host program.

Question 6

Generally in a risk assessment process, the first step is to

Question 7

What is one reason why AIS threats are increasing?

Question 8

Ferdinand Waldo Demara was known as the great imposter. He had an astounding ability to

convince people that he was who he truly was not. He worked as a naval officer, physician,

college teacher, prison warden, and other jobs without any of the prerequisite qualifications. By

not diligently checking references, the organizations fooled by Demara (including the Canadian

Navy) apparently chose to ________ the risk of fraud.

Question 9

Which component of the COSO Enterprise Risk Management Integrated Framework is

concerned with understanding how transactions are initiated, data are captured and processed,

and information is reported?

Question 10

A(n) ________ helps top-level managers with high-level activities that demand frequent and

regular attention.

Question 11

This protocol specifies the procedures for dividing files and documents into packets to be sent

over the Internet.

Question 12

This network access control determines which IP packets are allowed entry to a network and

which are dropped.

Question 13

Meaningful Discussions is a social networking site that boasts over a million registered users and

a quarterly membership growth rate in the double digits. As a consequence, the size of the

information technology department has been growing very rapidly, with many new hires. Each

employee is provided with a name badge with a photo and embedded computer chip that is used

to gain entry to the facility. This is an example of a(an)

Question 14

When new employees are hired by Folding Squid Technologies, they are assigned user names

and appropriate permissions are entered into the information system's access control matrix. This

is an example of a(an)

Question 15

The process that screens individual IP packets based solely on the contents of the source and/or

destination fields in the packet header is known as

Question 16

Which of the following is not one of the 10 internationally recognized best practices for

protecting the privacy of customers' personal information?

Question 17

Encryption has a remarkably long and varied history. Spies have been using it to convey secret

messages ever since there were secret messages to convey. One powerful method of encryption

uses random digits. Two documents are prepared with the same random sequence of numbers.

The spy is sent out with one and the spy master retains the other. The digits are used as follows.

Suppose that the word to be encrypted is SPY and the random digits are 352. Then S becomes V

(three letters after S), P becomes U (five letters after P), and Y becomes A (two letters after Y,

restarting at A after Z). The spy would encrypt a message and then destroy the document used to

encrypt it. This is an early example of

Question 18

Jeff Davis took a call from a client. "Jeff, I need for my customers to make payments online

using credit cards, but I want to make sure that the credit card data isn't intercepted. What do you

suggest?" Jeff responded "The best solution will be to implement

Question 19

A process that takes plaintext of any length and transforms it into a short code.

Question 20

These systems use the same key to encrypt and to decrypt.


"Revenue Cycle" Please respond to the following:

From the e-Activity, examine the steps necessary to complete a sale and discuss how the

sales order process is integrated with other processes (credit and collections, delivery,

etc.). Indicate your overall satisfaction with the process.

From the e-Activity, recommend at least one improvement in the Website’s sales order

process you would implement to make it more efficient in order to improve the customer

experience. Then, assess whether the recommendation meant to benefits the clients

warrants the potential cost of implementation for the company. Provide specific examples

to support your response.


"Expenditure Cycle" Please respond to the following:

Using your own present or previous place of work as an example, propose a method for

mitigating the problem of separate departments (e.g., academics, student services,

information technology, etc.) ordering the same item.

From the proposal above, discuss the possible issues that implementing the proposed

method would cause to the organization. Suggest additional controls that you would put

into place to overcome the issues. Provide specific examples to support your response.


"Professional Service Organizations" Please respond to the following:

You have been asked by the CFO of the company where you work or previously worked

to evaluate the use of a professional service organization for processing the company’s

payroll. Identify the top-three issues that should be discussed when considering

contracting the services of a payroll service provider. Evaluate the impact, both positive

and negative, of each issue on the process in question. Provide specific examples to

support your response.

Using the information from the e-Activity, identify the key elements of a plan to

outsource your firm’s payroll function. For each element of the plan, describe the impact

of each element. Be sure that the elements address the necessary controls needed to

safeguard your firm’s personnel data. Provide specific examples to support your

rationale.


"General Ledger and Reporting Systems" Please respond to the following:

Your firm is planning to move to International Financial Reporting Standards (IFRS)

reporting within the next fiscal year. Analyze the risks and rewards by moving to IFRS

and the impact that technology will have on the change. Include the advantages and

disadvantages of IRFS compared to the Generally Accepted Accounting Principles

(GAAP). Provide specific examples to support your analysis.

Develop a proposal for migrating your firm to IFRS from GAAP. Discuss how you will

educate your users in IFRS.


Assignment 3: Fraud in the AIS


For this assignment, research the Internet or Strayer databases to locate a firm that was involved

in a fraud and / or embezzlement case.

Explain how the firm’s accounting information system (i.e., components and functions)

contributed to the fraud and / or embezzlement. You will need to focus on how each component /

function of the accounting information system failed, which resulted in the scandal / case.

Write a ten to twelve (10-12) page paper in which you:

Based on the information you researched, assess the failure of the firm’s accounting information

system to prevent the related fraud / embezzlement.

Imagine that the company that you researched uses a third-party accounting system. Evaluate the

effectiveness of the firm’s stakeholder in the event that a third-party accounting system suffers a

breach. Include an assessment of the level of responsibility of the software provider to the

business and its clients. Provide support for your rationale.

Determine what advances in accounting and / or information technology could have prevented

the event from occurring. Provide support for your argument.

Evaluate what changes should be made to both the Sarbanes-Oxley Act of 2002 and other current

laws in order to make them more effective in deterring companies from committing crimes.

Recommend a strategy that the company you indicated may use to prevent future business

information failures. Indicate how the company should approach the implementation of your

recommended strategy. Provide support for your recommendation.

Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites










Analyze the business activities that comprise an accounting information system to determine the

information needs to support decision-making function.



mechanics.


"Relational Databases" Please respond to the following:

From the e-Activity, assess the advantages and disadvantages of the continued use of the

traditional relational database and then decide if businesses should be moving toward

relational databases in the cloud. Justify your decision and provide specific examples to

support your response.

Determine whether a company has an ethical obligation to share with external clients that

key information about them is being stored in the cloud. Speculate how external clients

would react if they were told in advance or it was kept from them and they found out

another way.


"The REA Data Model" Please respond to the following:

Your firm wants to move from a relational database model to the REA data model.

Explain to your senior management the risks and rewards of such of a move. Be sure to

provide specific examples to support your response.

As we know, the REA data model is an emerging technology change. Make five

recommendations for creating useful entity-relationship (E-R) diagrams. Rank them in

level of importance, and then justify your ranking.


Question 1

Forms design is an example of this type of control.

Question 2

A validity check is an example of a(n)

Question 3

This batch processing data entry control sums a field that contains dollar values.

Question 4

This determines if all required data items have been entered.

Question 5

When a computer system's files are automatically duplicated on a second data storage system as

they are changed, the process is referred to as

Question 6

What is the primary purpose of computer audit software?

Question 7

The ________ audit reviews the general and application controls of an AIS to assess its

compliance with internal control policies and procedures and its effectiveness in safeguarding

assets.

Question 8

Auditing involves the

Question 9

According to the risk-based auditing approach, when a control deficiency is identified, the

auditor should inquire about

Question 10

The auditor uses ________ to continuously monitor the system and collect audit evidence while

live data are processed.

Question 11

A type of business document in which part of the original document is returned to the source for

further processing is called a ________ document.

Question 12

How is credit approval generally handled for established customers with a documented payment

history?

Question 13

Two documents usually accompany goods shipped to a customer. What are the two documents?

Question 14

To prevent the loss of valuable data in the revenue cycle, internal file labels can be used to

Question 15

A ________ system prepares and mails monthly statements to customers throughout the entire

month, instead of just at the end of the month.

Question 16

Procurement cards differ from corporate credit cards in which of the following ways?

Question 17

A(n) ________ system posts an approved invoice to the vendor account and stores it in an open

invoice file until payment is made by check.

Question 18

When purchasing miscellaneous supplies, companies can reduce costs, improve efficiency, and

combat employee fraud by

Question 19

What is a key feature of materials requirements planning (MRP)?

Question 20

Bob Chum is the sales manager at Folding Squid Technologies. At lunch with the company

CEO, he proudly announced that he had received a ________ from a client to buy a large

quantity of components from Folding Squid.


"Systems Analysis" Please respond to the following:

Implementing a new AIS system could prove to be beneficial or detrimental to an

organization’s IT infrastructure. Assess the risks associated with integrating a new AIS

system and suggest what management can do to minimize those risks.

You have been selected as the change agent for the implementation of a new AIS system

that will ultimately affect the way all employees complete their daily tasks. The new AIS

system will also require online approvals for all source documents. This will result in

significant cost savings for the firm; however, in the past, employees have been resistant

to radical changes such as this. Evaluate the risks and rewards of such a move by the

firm. Provide specific examples to support your response.


"AIS" Please respond to the following:

You are part of a project management team evaluating accounting software packages that

could be used by S&S (i.e., the case company referenced in Chapters 1 through 4), which

would incorporate its four basic transaction cycles. Suggest five factors that the team

should consider when selecting the package. Rank the factors in order of importance, and

then justify your ranking.

From the e-Activity, evaluate two different software packages and propose how you

would promote one package over the other to the management committee. Provide

specific examples to support your response.


Question 1

The database design method in which a designer uses knowledge about business processes to

create a diagram of the elements to be included in the database is called

Answer

normalization.

decentralization.

geometric data modeling.

semantic data modeling.

Question 2

The problem of changes (or updates) to data values in a database being incorrectly recorded is

known as

Answer

an update anomaly.

an insert anomaly.

a delete anomaly.

a memory anomaly.

Question 3

The abstract representation of the contents of a database is called the

Answer

logical data model.

data dictionary.

physical view.

schema.

Question 4

The logical structure of a database is described by the

Answer

data dictionary.

schema.

database management system.

internal level.

Question 5

The feature in many database systems that simplifies the creation of reports by allowing users to

specify the data elements desired and the format of the output is named the

Answer

report writer.

report generator.

report creator.

report printer.

Question 6

One good way to eliminate paper paychecks is to

Answer

pay in cash only.

pay with money orders.

use direct deposit.

use Electronic Funds Transfer.

Question 7

What step can be taken to reduce the distribution of fraudulent paychecks?

Answer

have internal audit investigate unclaimed paychecks

allow department managers to investigate unclaimed paychecks

immediately mark "void" across all unclaimed paychecks

match up all paychecks with time cards

Question 8

The document that lists each employee's gross pay, payroll deductions, and net pay in a

multicolumn format is called

Answer

an employee earnings statement.

the payroll register.

a deduction register.

an employee time sheet summary.

Question 9

Many companies offer their employees a "cafeteria" approach to voluntary benefits in which

employees can pick and choose the benefits they want. This plan is normally called a(n)

Answer

elective plan.

menu options benefit plan.

flexible benefit plan.

buffet plan.

Question 10

Which of the following is a control that addresses the threat of unauthorized changes to the

payroll master file?

Answer

Field checks

Batch totals

Segregation of duties

Sound hiring procedures

Question 11

The managerial report that shows planned cash inflows and outflows for major investments or

acquisitions is the

Answer

journal voucher list.

statement of cash flows.

operating budget.

capital expenditures budget.

Question 12

Information about financing and investing activities for use in making general ledger entries is

typically provided by the

Answer

budget department.

controller.

treasurer.

chief executive officer.

Question 13

Adjusting entries that reflect events that have already occurred, but for which no cash flow has

taken place are classified as

Answer

accruals.

deferrals.

revaluations.

corrections.

Question 14

An adjusting entry made at the end of an accounting period that reflects the exchange of cash

prior to performance of a related event is classified as a(n)

Answer

accrual entry.

deferral entry.

revaluation entry.

correcting entry.

Question 15

Adjusting entries that are made to recognize revenue that has been received but not yet earned

are classified as

Answer

estimates.

deferrals.

accruals.

revaluations.

Question 16

The minimum cardinality of a relationship in an REA diagram can be either

Answer

0 or 1.

0 or N.

1 or N.

X or Y

Question 17

How many types of relationships are possible between entities?

Answer

one

two

three

an infinite number

Question 18

An REA diagram must link every event to at least one ________ and two ________.

Answer

resource; agents

agent; resources

transaction; entities

resource; relationships

Question 19

In which stage(s) of the database design process does data modeling occur?

Answer

only in the systems analysis stage

only in the design stage

in both the systems analysis and design stages

neither the systems analysis nor the design stages

Question 20

An entity-relationship (E-R) diagram represents entities as ________ and the relationships

between them as lines and ________.

Answer

circles; squares

squares; diamonds

rectangles; diamonds

rectangles; circles


"Implementation" Please respond to the following:

You are the manager of a payroll system. Your company is going to replace the legacy

payroll system with a more robust, Web-based version. Suggest two approaches that

would minimize downtime and interruption to the payroll process. Provide specific

examples to support your response.

Propose a process for evaluating the success of the new system and a procedure for

implementing software fixes and enhancements. Provide specific examples to support

your response.


"Operation" Please respond to the following:

From the e-Activity, predict the effects that changes in one industry could have on

modifying and updating a system of the business. Include any trickle-down effects that

the changes would have on the business as well. Provide specific examples to support

your response.

From a managerial perspective, assess the greatest systems operational challenge. Then,

recommend what management can do to overcome the challenge that you identified.

Support your response with specific examples or evidence.


Assignment 4: Changing the AIS


Migrating to a new accounting information system is not an easy task. Many firms have

struggled with this process, even though our textbook makes the process seem quite

straightforward. Recently, IBM recapped some of the lessons learned in migrating to a new

accounting information system within the federal government. These lessons can be applied to

any accounting information system project. Others have developed their own recommendations

for best practices and lessons learned involving implementing accounting information systems.

However, in order to appreciate what IBM and others are proposing, we need to apply lessons

learned to a real-life situation involving the failure to implement an accounting system properly.

For this assignment, research the Internet or Strayer databases for information related to a real-

life accounting information system failure and best practices, as well as lessons learned from

implementing the accounting system. In addition to information that you may find during your

research, please use the following IBM article to complete the assignment:

(http://www.businessofgovernment.org/article/what-we-know-now-lessons-learned-

implementing-federal-financial-systems-projects).

Write a ten to twelve (10-12) page paper in which you:

1. Identify three to five (3-5) factors that contributed to the accounting information system failure

within the business that you have identified. Indicate the impact to the business. Provide support

for your rationale.

2. Assess senior management responsibility for the failure in question. Specify what the senior

management could have done differently to avoid the failure. Provide support for your rationale.

3. Evaluate whether the most significant failure occurred within the system design, implementation,

or operational phase of the process. Indicate what the company could have done to avoid the

failed outcome. Provide support for your rationale.

4. Evaluate how implementing best practices would have reduced the chances for failure. Provide

support for your rationale.

5. Based on your research, develop a list of between four (4) and six (6) best practices that

organizations should use today to reduce the chances for failure. Provide support for your

rationale.

6. Using the information provided by IBM and others, indicate which of the principles designed to

provide insight into effective and efficient strategies on how to best deploy financial

management systems, which were outlined within the related article, should serve as an example

of what not to do when establishing the foundation for a firm to follow. Your proposed

foundation should consist of at least two (2) principles, but no more than six (6). Provide support

for your rationale.











Analyze the business activities that comprise an accounting information system to determine the

information needs to support decision-making function.

Examine the phases of the systems development life cycle and key issues related to systems

analysis.

Analyze the systems design, implementation, and operational process.



mechanics.


"Looking Back" Please respond to the following:

The AICPA would like for you to deliver a speech at one of its upcoming conferences on

the future of accounting information systems. From the first e-Activity, select one

conference and formulate the takeaway message and key points that you would want your

audience to remember from your speech.

After delivering your speech, you have been approached by representatives from Oracle

(Oracle Financials) and Microsoft (Microsoft Dynamics) regarding your key points. From

the second e-Activity, evaluate how your message can be used to enhance their product

line and vision.


"Looking Ahead" Please respond to the following:

Evaluate the top-three concepts covered in this course that provided the most value to you

and how you might incorporate those concepts or processes into your current job or

future endeavors.

Evaluate the top-three concepts in this course that you found difficult to comprehend.

Propose a recommendation to the author of the textbook on how he / she could have

made that process or concept easier to understand.

ACC 564 Week 11 Final Exam Part 1

Question 1

A well-designed AIS can improve the decision-making function within the organization. Which

statement below would describe a limitation, rather than a benefit, of an efficient AIS?

Answer

An AIS reduces uncertainty, and therefore accounting information can provide a basis for

choosing among alternative courses of action.

An AIS identifies situations requiring management action.

An AIS provides to its users an abundance of information without any filtering or

condensing of such information.

An AIS provides information about the results of previous decisions which provides

decision makers with feedback that can be used in future decision making.

Question 2

A change in the AIS that makes information more easily accessible and widely available within

an organization is most likely to first influence the

Answer

organizational culture.

customer base.

external financial statement users.

production activity.

Question 3

Information that does not omit important aspects of the underlying events or activities that it

measures is

Answer

complete.

accessible.

relevant.

timely.

Question 4

The business owners obtain financing from outside investors, which results in an inflow of cash

into the company. This transaction is considered to be part of which cycle?

Answer

the revenue cycle

the payroll cycle

the production cycle

the financing cycle

Question 5

Which of the following is a primary activity in the value chain?

Answer

infrastructure

technology

purchasing

marketing and sales

Question 6

Which of the following is conceptually similar to a journal in a manual AIS?

Answer

database

master file

record

transaction file

Question 7

Which of the following documents would be found in the expenditure cycle?

Answer

delivery ticket

time card

credit memo

purchase order

Question 8

Many small businesses choose to outsource their payroll activities to firms that specialize in

providing payroll services. Dolores Yu operates a payroll processing business in Calabasas,

California. When she sends bills out to her clients, her work is part of her firm's

Answer

revenue cycle.

expenditure cycle.

financing cycle.

production cycle.

Question 9

In transaction processing, generally which activity comes first?

Answer

recording data in a journal

posting items to special journals

capturing data on source documents

recording data in a general ledger

Question 10

The general ledger account that corresponds to a subsidiary ledger account is known as a

Answer

dependent account.

attribute account.

entity account.

control account.

Question 11

A DFD created at the highest-level or summary view is referred to as a

Answer

process diagram.

overview diagram.

content diagram.

context diagram.

Question 12

When preparing a document flowchart, the names of organizational departments or job functions

should appear in the

Answer

column headings.

right-hand margin.

written narrative accompanying the flowchart.

title of the flowchart.

Question 13

In a DFD, a "data sink" is also known as a

Answer

data store.

transformation process.

data flow.

data destination.

Question 14

A flowchart that depicts the relationships among the input, processing, and output of an AIS is

Answer

an internal control flowchart.

a document flowchart.

a system flowchart.

a program flowchart.

Question 15

Chuck and Jill Scruggs travel in their motor home six months of the year and buy unique

artifacts. Within hours after the Scruggs make a purchase, they have photographed it, written a

description of it, and posted it for sale on eBay with a reservation price. Anything that does not

sell within a week is shipped back to Austin, Texas, for display in The House of Curiosities, a

retail business that the Scruggs operate during the balance of the year. Which symbol should be

used to represent the transfer of data to eBay in a context diagram of this process?

Answer

Question 16

Record layouts, definitions, addresses, and indexes will be stored at the ________ level schema.

Answer

external

conceptual

internal

meta

Question 17

Shandra Bundawi is a new graduate who has been hired by an old-line, family-owned furniture

manufacturing company in the northeast. She has been asked to analyze the company's

accounting information system and to recommend cost-effective improvements. After noting that

the production and sales departments use database systems that are entirely separated, she

recommends that they be combined. Implementation of her recommendation would benefit the

company by contributing to data

Answer

independence.

integration.

redundancy.

qualifications.

Question 18

A low-level view of the database that describes how the data are actually stored and accessed is

the

Answer

conceptual-level schema.

subschema.

internal-level schema.

external-level schema

Question 19

The ________ acts as an interface between the database and the various application programs.

Answer

data warehouse

database administrator

database management system

database system

Question 20

The delete anomaly

Answer

may result in unintentional loss of important data.

is usually easily detected by users.

restricts the addition of new records.

prevents users from deleting outdated data from records or tables.

Question 21

Why is computer fraud often more difficult to detect than other types of fraud?

Answer

Rarely is cash stolen in computer fraud.

The fraud may leave little or no evidence it ever happened.

Computers provide more opportunities for fraud.

Computer fraud perpetrators are just more clever than other types of criminals.

Question 22

What is the most prevalent opportunity within most companies to commit fraud?

Answer

lack of any internal controls

failure to enforce the internal controls

loopholes in the design of internal controls

management's failure to believe employees would commit fraud

Question 23

Most frauds are detected by

Answer

external auditors.

internal auditors.

accident.

hotline tip.

Question 24

On Monday morning, Janet Pillsner, Chief Information Officer at International Securities

Corporation (ISC), got some bad news. A tape used to store system data backups was lost while

it was being transported to an offsite storage location. She called a meeting of her technical staff

to discuss the implications of the loss. Which of the following is most likely to relieve her

concerns over the potential cost of the loss?

Answer

The shipper has insurance that will reimburse ISC for the cost of the tape.

ISC has a copy of the tape onsite, so a new copy for storage offsite can easily be prepared.

The tape was encrypted and password protected.

ISC has a comprehensive disaster recovery plan.

Question 25

Which of the following is the best way to hide theft of assets?

Answer

Creating "cash" through the transfer of money between banks

Conversion of stolen assets into cash

Stealing cash from customer A and then using customer B's balance to pay customer A's

accounts receivable

Charging the stolen asset to an expense account

Question 26

Tapping into a communications line and then entering the system by accompanying a legitimate

user without their knowledge is called

Answer

superzapping.

data leakage.

hacking.

piggybacking.

Question 27

The unauthorized access to, and use of, computer systems is known as

Answer

hacking.

hijacking.

phreaking.

sniffing.

Question 28

A fraud technique that slices off tiny amounts from many projects is called the ________

technique.

Answer

Trojan horse

round down

salami

trap door

Question 29

The unauthorized copying of company data is known as

Answer

data leakage.

eavesdropping.

masquerading.

phishing.

Question 30

Which method of fraud is physical in its nature rather than electronic?

Answer

cracking

hacking

eavesdropping

scavenging

Question 31

The risk that remains after management implements internal controls is

Answer

Inherent risk

Residual risk

Risk appetite

Risk assessment

Question 32

________ controls are designed to make sure an organization's control environment is stable and

well managed.

Answer

Application

Detective

General

Preventive

Question 33

A ________ is created to guide and oversee systems development and acquisition.

Answer

performance evaluation

project development plan

steering committee

strategic master plan

Question 34

The process that a business uses to safeguard assets, provide accurate and reliable information,

and promote and improve operational efficiency is known as

Answer

a phenomenon.

internal control.

an AIS threat.

a preventive control.

Question 35

Personnel policies such as background checks, mandatory vacations, and rotation of duties tend

to deter

Answer

unintentional errors.

employee fraud or embezzlement.

fraud by outsiders.

disgruntled employees.

Question 36

This protocol specifies the structure of packets sent over the internet and the route to get them to

the proper destination.

Answer

Access control list

Internet protocol

Packet switching protocol

Transmission control protocol

Question 37

Which of the following is an example of a detective control?

Answer

Physical access controls

Encryption

Log analysis

Emergency response teams

Question 38

The security technology that evaluates IP packet traffic patterns in order to identify attacks

against a system is known as

Answer

an intrusion prevention system.

stateful packet filtering.

static packet filtering.

deep packet inspection.

Question 39

Restricting access of users to specific portions of the system as well as specific tasks, is

Answer

authentication.

authorization.

identification.

threat monitoring.

Question 40

The ________ disseminates information about fraud, errors, breaches and other improper system

uses and their consequences.

Answer

chief information officer

chief operations officer

chief security officer

computer emergency response team

Question 41

A process that takes plaintext of any length and transforms it into a short code.

Answer

Asymmetric encryption

Encryption

Hashing

Symmetric encryption

Question 42

An electronic document that certifies the identity of the owner of a particular public key.

Answer

Asymmetric encryption

Digital certificate

Digital signature

Public key

Question 43

In developing policies related to personal information about customers, Folding Squid

Technologies adhered to the Trust Services framework. The standard applicable to these policies

is

Answer

security.

confidentiality.

privacy.

availability.

Question 44

Which of the following is not one of the 10 internationally recognized best practices for

protecting the privacy of customers' personal information?

Answer

Providing free credit report monitoring for customers

Inform customers of the option to opt-out of data collection and use of their personal

information

Allow customers' browsers to decline to accept cookies

Utilize controls to prevent unauthorized access to, and disclosure of, customers' information

Question 45

The system and processes used to issue and manage asymmetric keys and digital certificates are

known as

Answer

asymmetric encryption.

certificate authority.

digital signature.

public key infrastructure.

Question 46

Data matching is an example of a(n)

Answer

data entry control.

data transmission control.

processing control.

input control.

Question 47

Error logs and review are an example of

Answer

data entry controls.

data transmission controls.

output controls.

processing controls.

Question 48

This tests a numerical amount to ensure that it does not exceed a predetermined value.

Answer

Completeness check

Limit check

Range check

Sign check

Question 49

When a computer system's files are automatically duplicated on a second data storage system as

they are changed, the process is referred to as

Answer

real-time mirroring.

batch updating.

consistency control.

double-secure storage.

Question 50

This batch processing data entry control sums a non-financial numeric field.

Answer

Record count

Financial total

Hash total

Sequence check

ACC 564 Week 11 Final Exam Part 2

Question 1

According to the risk-based auditing approach, when a control deficiency is identified, the

auditor should inquire about

Answer

tests of controls.

the feasibility of a systems review.

materiality and inherent risk factors.

compensating controls.

Question 2

An expansion of a firm's operations to include production in Russia and China will have the

effect of

Answer

increasing inherent risk.

reducing inherent risk.

increasing control risk.

reducing control risk.

Question 3

An auditor must be willing to accept some degree of risk that the audit conclusion is incorrect.

Accordingly, the auditor's objective is to seek ________ that no material error exists in the

information audited.

Answer

absolute reliability

reasonable evidence

reasonable assurance

reasonable objectivity

Question 4

Which of the following is the first step in the risk-based audit approach?

Answer

Identify the control procedures that should be in place.

Evaluate the control procedures.

Determine the threats facing the AIS.

Evaluate weaknesses to determine their effect on the audit procedures.

Question 5

The ________ audit is concerned with the economical and efficient use of resources and the

accomplishment of established goals and objectives.

Answer

financial

informational

information systems

operational

Question 6

The shipping department at Squishy Things Toy Company follows policies that determine which

carrier will deliver orders according to the size, weight, and destination of the shipment. It

maintains standing agreements with shippers that specify legal responsibility for the shipment

while it is in transit. The terms of the agreements are documented on

Answer

picking tickets.

bills of lading.

packing slips.

RFID tags.

Question 7

The manager of Callow Youth Clothing was entering an order online from Sad Clown Pajamas.

He entered all the items and quantities, completed the checkout and payment process, but the

following error message popped up when he tried to exit the site: "Please enter your email

address." This message is likely the result of a

Answer

customer relationship management software application.

validity check.

completeness test.

closed-loop verification.

Question 8

How is credit approval generally handled for established customers with a documented payment

history?

Answer

Specific authorization by the credit manager

General authorization by a sales clerk

A new credit application is requested

A formal credit check should be made for each sale

Question 9

The activities involved in soliciting and processing customer orders within the revenue cycle are

known as the ________.

Answer

sales order entry process

shipping order process

revenue process

marketing process

Question 10

Which document should always be included with a merchandise shipment to a customer?

Answer

Packing slip

Picking ticket

Remittance advice

Sales invoice

Question 11

To accomplish the objectives set forth in the expenditure cycle, a number of key management

decisions must be addressed. Which of the decisions below is not

ordinarily found as part of the expenditure cycle?

Answer

How can cash payments to vendors be managed to maximize cash flow?

What is the optimal level of inventory and supplies to carry on hand?

Where should inventories and supplies be held?

What are the optimal prices for each product or service?

Question 12

To minimize the number of checks that need to be written to pay vendor invoices a company

should use a

Answer

voucher system.

just-in-time inventory system.

nonvoucher system.

evaluated receipt settlement system.

Question 13

Bob Chum is the sales manager at Folding Squid Technologies. At lunch with the company

CEO, he proudly announced that he had negotiated a(n) ________ with a client that defined a

long-term commitment to buy components from Folding Squid.

Answer

purchase order

blanket purchase order

evaluated receipt settlement

voucher

Question 14

Procurement cards differ from corporate credit cards in which of the following ways?

Answer

Credit limits can be set for procurement cards, but not corporate credit cards.

Credit cards can be used to make purchases without an explicit sign off by supervisors, but

procurement cards require a sign off.

Procurement cards can only be used with approved vendors, but credit cards can be used

anywhere.

Procurement card invoices are sent separately for each card, whereas corporate credit cards

are consolidated into a single invoice.

Question 15

What is the key difference between the MRP and JIT inventory management approaches?

Answer

Only JIT reduces costs and improves efficiency.

MRP is especially useful for products such as fashion apparel.

JIT is more effectively used with products that have predictable patterns of demand.

MRP schedules production to meet estimated sales needs; JIT schedules production to meet

customer demands.

Question 16

For recording time spent on specific work projects, manufacturing companies usually use a

Answer

job time ticket.

time card.

time clock.

labor time card.

Question 17

Which type of payroll report contains information such as the employees' gross pay, payroll

deductions, and net pay in a multicolumn format?

Answer

payroll register

deduction register

employee earnings statement

federal W-4 form

Question 18

The document that lists each employee's gross pay, payroll deductions, and net pay in a

multicolumn format is called

Answer

an employee earnings statement.

the payroll register.

a deduction register.

an employee time sheet summary.

Question 19

A "zero balance check" refers to which of the following control procedures?

Answer

a type of batch total

cross-footing the payroll register

the payroll clearing account shows a zero balance once all entries are posted

trial balance showing that debits equal credits

Question 20

Experts estimate that on average the costs associated with replacing an employee are about

________ that of the employee's annual salary.

Answer

one-quarter

one-half

one and one-half

twice

Question 21

A listing of journal vouchers by numerical sequence, account number, or date is an example of

Answer

a general ledger control report.

a budget report.

a batch to be processed.

responsibility accounting.

Question 22

Which of the following balanced scorecard dimensions provides measures on how efficiently and

effectively the organization is performing key business processes?

Answer

financial

internal operations

innovation and learning

customer

Question 23

The managerial report that shows planned cash inflows and outflows for major investments or

acquisitions is the

Answer

journal voucher list.

statement of cash flows.

operating budget.

capital expenditures budget.

Question 24

Immediately after the adjusting entries are posted, the next step in the general ledger and

reporting system is to prepare

Answer

an adjusted trial balance.

closing entries.

financial statements.

an unadjusted trial balance.

Question 25

Performance reports for cost centers should compare actual versus budget ________ costs.

Answer

controllable

uncontrollable

fixed

variable

Question 26

Which of the following graphical symbols represents a minimum cardinality of zero and a

maximum cardinality of many?

Answer

Question 27

Developing an REA diagram for a specific transaction cycle begins by identifying

Answer

relevant events.

agents involved.

resources affected.

relationship cardinalities.

Question 28

A relationship in which cardinalities have zero minimums and N maximums would most likely

be an

Answer

agent-event relationship.

resource-event relationship.

event-event relationship.

event-agent relationship.

Question 29

In which stage(s) of the database design process does data modeling occur?

Answer

only in the systems analysis stage

only in the design stage

in both the systems analysis and design stages

neither the systems analysis nor the design stages

Question 30

Which of the following graphical symbols represents a minimum cardinality of one and a

maximum cardinality of many?

Answer

Question 31

A system change that results in an improved product or service and helps lower costs provided

a(n)

Answer

competitive advantage.

improved business process.

productivity gain.

technological change.

Question 32

In which phase of the systems development life cycle is the feasibility study first performed?

Answer

conceptual design

implementation and conversion

physical design

system analysis

Question 33

There are several important aspects to be considered during a feasibility study. The aspect that

asks the question, "Can people use the system and will they use it?" is called

Answer

economic feasibility.

operational feasibility.

scheduling feasibility.

technical feasibility.

Question 34

In which step of the SDLC do all of the elements of the system come together?

Answer

conceptual design

implementation and conversion

physical design

systems analysis

Question 35

Continuing to use a manual system instead of the new AIS is a form of resistance known as

Answer

acceptance.

aggression.

avoidance.

projection.

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Documents

new ais

business analysts

business model

business processes

value of information

information n

multiple lines of business

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