ACC 675 2-1 Discussion

Some individuals argue that accountants should focus on producing financial statements and leave the design and production of managerial reports to information systems specialists. What are the advantages and disadvantages of following this advice? To what extent should accountants be involved in producing reports that include more than just financial measures of performance? Why?

All of the following are reasons why IT is important to accountants except: a.IT questions often appear on professional certification examinations b.The costs of IT are skyrocketing c.Accountants often help clients make IT decisions d.Auditors must evaluate computerized systems

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Some people believe that an automated accounting system is always better than a manual system. Describe circumstances, and provide examples, where a manual system  would be recommendable rather than automated solution

1.Discuss the difference between internal and external users of information and their needs and demands on the information system.    2.Comment on the level of detail necessary for operations management, middle management and stakeholders.   3.Examine the General Model for AIS Table 1-4, discuss where and how problems will arise that can cause the resulting information to be bad or ineffective.   4.Why is it important to organizationally separate the accounting function from the other functions of the organization?   5.Contrast centralized data processing with distributed data processing. How do the roles of the different end users differs between the two approach

COMMUNICATIONS Before the mid-1970s, systems programmers and businesspeople (including accountants) did not communicate well with one another. The programmers were critized for using too much jargon, and the businesspeople were criticized for not adequately expressing their needs. Efforts have been made to overcome this communication gap, but room for impprovement still exixts. What problems do you think may result from this communication gap? What can you do to help further close the gap when you enter the workforce?

Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

8. ______________ is a professional service with an aim of improving the quality and transparency of information, to reduce the chance of problems occurring from incorrect information. a. Agency b. Accounting c. Assurance d. Costing

Which of the following statement about management accounting information is incorrect? a. The benefits of providing the information should outweigh the costs. b. It is influenced by organisational structure and size. c. It is only prepared on an ad-hoc basis. d. It is used by senior managers.

1. What do you think is automation? 2. Why is automation needed? 3. What do you think are the advantages of automation? 4. Do you think there are any risks regarding automation? Motivate your answer. 5. What do you think are the characteristics of that can be automated? Name three. 6. What do you think will the role of the processes accountant/auditor/tax specialist/financial manager be in the feature?

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?

Which of the following statements regarding accounting information systems is false? Multiple Cholce Accounting Information systems cannot improve on a company's competitive edge. Accounting Information systems collect and process data from transactions and events, organize them Into reports, and communicate results to decislon makers. Accounting Information systems have five principles related to control, relevance, compatibility, flexibility, and cost-benefit. Accounting Information systems help users make more Informed decisions. Accounting Information systems have five components: source documents, Input devices, Information processors, Information storage, and output devices.

Concerning eXtensible Business Reporting Language (XBRL), which of the following statements is not true? A. XBRL reduces the need for information to be manually reentered into analysis tools B. XBRL creates unique tags for each data item C. XBRL is used for internal (managerial) reporting D. XBRL reduces the need to produce multiple reports

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Answer the following questions: Some people believe that an automated accounting system is always better than a manual system. Describe circumstances, and provide examples, where a manual system would be recommendable rather than automated solution. Provide an example of a business event. Explain how an enterprise system can provide the ability to share information and make the execution of business events efficient. Also, describe the various aspects of the business event that a company might want to capture from that event. To what extent should auditors be involved in the system design process of an accounting information system? Discuss the pros and cons of auditor involvement in the development an accounting information system.

Under what circumstances can you envision management using alternative one rather than alternative two? Some accountants argue that the receiving department should be eliminated. Discuss the objective of eliminating the receiving function. What accounting/audit problems need to be resolved.

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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.

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Which is not an objective of managerial accounting?a. To prepare external reports for investors, creditors, government agencies, and other outside users.b. To provide information for costing of services, products, and other objects of interest to management.c. To provide information for planning, controlling, evaluating and continuous improvement.d, To provide information for decision making.e. Answer not give