Chapter 1 Quiz

1. Choose three of the following five technologies/techniques and explain why you think it is helpful in accounting analytics based on your lab experience in this course. Use some examples in your explanation. Limit your answer to 500 words in total. A. XBRL B. Tableau C. VLOOKUP function D. Pivot table E. Regression

Directions: 1. Read and analyze the given scenario. 2. With the goal and role of financial management in business in mind, determine whether the project should be continued or abandoned. Use the following facts and figures below as your reference. 3. Present your recommendation and explain the reasons in 4-6 sentences. 4. Write your answer on the blanks provided. Company A accepts a project to create a Learning Management System (LMS) for a big client. This company also creates and produces online training materials such as digital videos and ebooks. The LMS project itself has a projected revenue of $850,000. So far, the expenses amounting to $600,000 have been incurred by Company A on the project. This is way beyond the allocated budget. Due to this, the management contemplates on whether the project should still be continued. 1. Customized Software/Program Already purchased for $80,000 (apart from the $600,000 mentioned above), this software cannot be used for any other products of…

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After completing your first degree in accounting you have been employed by XYZ Company as an account officer. The Management of the company has tasked you to implement a computerized accounting system   Explain the difference between a stand-alone package and an integrated package? Explain two advantaged and two disadvantages of an integrated package e) Before a new accounting package can be deployed, it needs to be configured. What does it mean to configure an accounting package? Explain the processes involved in the configuration of an accounting package.

Write an essay of the new roles of management accountants in accommodating to the current and future business environment premised on digital economy and beyond. The essay should outline, explain, and analyse the business environment within which management accountants would be adapting, and how they (i.e. management accountants) would be positioning themselves in the future. In writing your essay, please observe that you need to write between 500 to 750 words

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Match each of the principles and phases in the development of an accounting system with the statement that best describes them. 1.   Information must be understandable, relevant, reliable, timely, and accurate.                                                              FlexibilityCost effectivenessUseful output 2.   Benefits of information must outweigh the cost of providing it.                                                              Cost effectivenessUseful outputFlexibility 3.   The system should accommodate a variety of users and changing information needs.                                                              Cost effectivenessFlexibilityUseful output 4.   The accounting system must consider the needs and knowledge of various users.                                                              FlexibilityCost effectivenessUseful output 5.   The system should be capable of meeting the changes in the demands made upon it.…

Microsoft Excel is a widely used tool and a must-have skill for accountants. For this week’s discussion, share your thoughts on how you can use the advanced features of Excel not only for calculations but also to drive data-driven insights for decision-making. Choose one of the following to discuss: Provide a specific example where using Excel can benefit an accounting department.  Add details such as functions, formulas, and any analytical tools used. What Excel tools (i.e., functions, formulas, or tools) can address accounting challenges or streamline processes? Share an example.

Accountants play an important role within an organization. Without the proper tools and resources, they would not be as efficient or effective in their jobs. Discuss the value that an AIS system brings to an organization. In what ways do accounting information systems enable companies to not only become more productive but also provide the ability to compete with others on a global scale?\\nProvide 2-3 ways in which you have experienced the value of AIS from a professional or personal level.

Answer the Below Question A company is considering whether to adopt a new accounting software system. Discuss the potential benefits and challenges of implementing new accounting software. What factors should the company consider when selecting a software system? How can the company ensure a successful implementation and minimize disruption to its operations?

Understanding components of a computerized accounting information system Ned Timmons, engineer, is considering using a computerized accounting system for his professional engineering business. Ned has asked that you help him understand the components of a computerized accounting information system by answering the following questions: Requirements 1. What are the two basic components of a computerized accounting information system? 2. Provide examples of each component. 3. If Ned were interested in an entry-level software system, what software might you recommend?

Decision making process in businesses is a complex, multistep activity that includes the following key steps: identify the problem, collect, and interpret information, evaluate ways to solve the problem, select a solution methodology, and implement the solution. The managing director of Naivas Supermarket ltd Mr. Simon Mukuha has spearheaded the adoption of the best available technologies and software’s within its Accounting Information Systems infrastructure to enhance the decision-making process. Required; Explain two ways that computerized Accounting Information Systems adopted by Naivas Supermarket will help improve decision making process.

Matching business trends terminology Match the term with the correct definition.

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Case study: general accounting

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Managerial accounting is concerned with providing information to managers so they may make business decisions that satisfy customers while continuously monitoring costs and improving efficiencies. Some reports provide timely updates on key indicators while others investigate problems such as declined profitability. Please list a report or activity you learned about in managerial accounting which would be useful if implemented in either a) a current or past place of employment or b) your personal life. Describe how the report would help in your job or personal life.

Overview Fordham and Hamilton evaluated a broad range of small businesses and found that a large majority are still using accounting practices that do not constitute true integrated computerized accounting systems. Read this article before you begin this assignment: Accounting Information Technology in Small Businesses: An Inquiry. Instructions In which you: Evaluate the findings Fordham and Hamilton presented in their paper. Propose additional reasons why small business owners are not using AIS in their businesses. Provide support to your arguments and proposals using additional materials. Use at least three quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources. This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the Library site for all supports. Check with your professor for any additional instructions.

The Value of Data Visualization Analytics is such a broad topic that it's hard to know where to get started. In this course designed for students, explore how to use data analytics to make informed decisions, and build core analytics skills that can prepare you to enter into the business or data science landscape. Learn about the basics of analytics, how data is typically captured, and how it impacts the day-to-day of a business. This course also provides an introduction to common tools used in analytics, as well as stories designed to help students get an overview of careers that require strong analytical skills. Watch Video Watch the The Value of Data Visualization video and share your thoughts on what you learned about creating effective data visualizations.

Accounting information systems by Gelinas: As an accountant, why do you need to know how to talk to systems designers and developers? What topics must you able to understand and discuss with them?