Overview For this assignment, you will represent a company that does not currently have an accounting information system (AIS) established. Make sure you clearly identify the business line, product type, and market position. Read this article before you begin: Identifying the Absence of Effective Internal Controls: An Alternative Approach for Internal Control Audits. Instructions Write a 3-4-page paper in which you: Identify at least four different areas where there could be potential accounting fraud in a company. Make sure you elaborate on your reasoning for why accounting fraud could occur as well as the financial implications on the organization. Design a method of detection and a method of limiting the possible financial fraud. Provide support for your arguments and rationale using support from your text and supplemental readings. Provide support for arguments and rationale using AIS knowledge and recent AIS literature. Draft a one-page recommendation at the end of the document directed to the CEO explaining the findings, recommendations, and benefits of installing an accounting information system. Make sure you are specific in your recommendations. This is an additional page and not included in the original 3-4-page paper. 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 specific course learning outcome associated with this assignment is: Assess the accounting process of a business to determine the need for an accounting information system to prevent fraud.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Overview

For this assignment, you will represent a company that does not currently have an accounting information system (AIS) established. Make sure you clearly identify the business line, product type, and market position.

Read this article before you begin:

Identifying the Absence of Effective Internal Controls: An Alternative Approach for Internal Control Audits.

Instructions

Write a 3-4-page paper in which you:

Identify at least four different areas where there could be potential accounting fraud in a company. Make sure you elaborate on your reasoning for why accounting fraud could occur as well as the financial implications on the organization.
Design a method of detection and a method of limiting the possible financial fraud. Provide support for your arguments and rationale using support from your text and supplemental readings.
Provide support for arguments and rationale using AIS knowledge and recent AIS literature.
Draft a one-page recommendation at the end of the document directed to the CEO explaining the findings, recommendations, and benefits of installing an accounting information system. Make sure you are specific in your recommendations. This is an additional page and not included in the original 3-4-page paper.
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 specific course learning outcome associated with this assignment is: