What is the relationship between Accounting and an Accountinginformation system? ) • What has happened to the relationship over the years? • What is accounting information? • Name 4 uses of Accounting Information? • Use an example to illustrate the difference between data,information, and intelligence? • Discuss security concerns related to shadow data and businessintelligence technologies. • Discuss the role of accounting professionals in thedevelopment of shadow data. • What is system documentation? • Why is it important to know system documentation? • Explain the 4 elements that makes up the Data Flow Diagrams? • Give an example of who or when one of these documents may berequired • What are Flowcharts? • List an example of an Input/output, processing and storage Symbols • Differentiate between different types of Flowchart? • If you were a new factory employee on your first day at a vastfactory, indicate which level Flowcharts would be required and • If you were a new external auditor (assume that you have over10 years of experience but new to this factory) and wish to reviewthe strength of internal control of the same factory, indicatewhich Flowcharts you would require and why? why? • What sort of organisation would most benefit from having anERP ? • Describe some problems one might encounter from your readingswhen using an ERP? • How can a Supply Chain Management system and CustomerRelationship Management system help a company? ABC is a large car retailer that also manufactures its ownbrand, assembles made-to-order cars from purchased components andsells fully assembled branded names. The Company also have as stocklots of spare parts that it usually need to help with the processabove. You have been employed as a consultant to ABC. What databases are available to help ABC capture, store, manageand manipulate data for decision making and reporting? Useone of those databases to explain its operation? What areits advantages and disadvantages of a database? ABC is a non profit company. It has several branches and allof them specialises in different operations. It has around 15different operations some of which are free food catering toelderly, free temporary accommodation to elderly, providing freecomputer training to elderly etc. The company receives grants fromgovernment and several local agencies and donation from the generalpublic. One of the staff was heard saying “Our ERP cannot handlethe amount of transactions and requirement. Last month, we helped around 3000 elderly clients and received revenue from at least 30government and private agencies. The company has plenty of fundingfor the new ERP but just recently thought about getting a newERP”. As a student who completed ACC200, what would you suggest thebest ways of getting the new ERP? Use the pros and Cons in youranswer about all the different methods of getting a new ERP. Woolworths is a major supermarket in Australia with over 500Outlets all around the country. The company is about to implement anew system. As a student of ACC200, You have been asked to write a report onthe best way for this conversion to best suit the interest of thecompany. ABC is a company currently set up in Melbourne and currentlyoperating in all around Victoria. The operation of the company isgeneral cleaning offices and cleaning after constructionoperations. Until now the company was only accepting cash payment from theclients upon delivery of services and also whenever possible onlymaking cash payment to employees and some suppliers. Due to lack of business and pressure from clients, the companywill now also accept credit card payment from Businesses and set acredit account as well with payment to be made end of month. Discuss the internal control/s necessary for this new procedurein billing. XYZ is a company operating in wholesale wheelchairs repairs andretail sale. The company will be undergoing some changes inmanagement in a few weeks. You have been hired as part of the newmanagement to report on operations. As part of your investigation, you found that all repairsservices were delegated to another company which belonged to theincumbent CEO’s wife. You also noticed that all the invoices fromthe company to XYZ were very costly and no detailed on the invoicesof the actual repairs. You also noticed that there was only 1option in for customers when paying the bills, cash payment. It also came to your attention that XYZ did nothave a proper warehouse but all the stocks were being stored at aremote property owned by the CEO. Write a report to the future management advising them on yourfindings and possible solution. • Describe the Revenue cycle activities. Provide 3 examples ofpreventative controls suitable for the Revenue Cycle • Describe the Purchase Cycle activities. What are the mainactivities in the purchasing cycle that an organisation should beaware of from a control perspective?
What is the relationship between Accounting and an Accountinginformation system? )
• What has happened to the relationship over the years?
• What is accounting information?
• Name 4 uses of Accounting Information?
• Use an example to illustrate the difference between data,information, and intelligence?
• Discuss security concerns related to shadow data and businessintelligence technologies.
• Discuss the role of accounting professionals in thedevelopment of shadow data.
• What is system documentation?
• Why is it important to know system documentation?
• Explain the 4 elements that makes up the Data Flow Diagrams?
• Give an example of who or when one of these documents may berequired
• What are Flowcharts?
• List an example of an Input/output, processing and storage
Symbols
• Differentiate between different types of Flowchart?
• If you were a new factory employee on your first day at a vastfactory, indicate which level Flowcharts would be required and
• If you were a new external auditor (assume that you have over10 years of experience but new to this factory) and wish to reviewthe strength of internal control of the same factory, indicatewhich Flowcharts you would require and why?
why?
• What sort of organisation would most benefit from having anERP ?
• Describe some problems one might encounter from your readingswhen using an ERP?
• How can a Supply Chain Management system and CustomerRelationship Management system help a company?
ABC is a large car retailer that also manufactures its ownbrand, assembles made-to-order cars from purchased components andsells fully assembled branded names. The Company also have as stocklots of spare parts that it usually need to help with the processabove.
You have been employed as a consultant to ABC.
What databases are available to help ABC capture, store, manageand manipulate data for decision making and reporting? Useone of those databases to explain its operation? What areits advantages and disadvantages of a database?
ABC is a non profit company. It has several branches and allof
them specialises in different operations. It has around 15different operations some of which are free food catering toelderly, free temporary accommodation to elderly, providing freecomputer training to elderly etc. The company receives grants fromgovernment and several local agencies and donation from the generalpublic.
One of the staff was heard saying “Our ERP cannot handlethe
amount of transactions and requirement. Last month, we helped
around 3000 elderly clients and received revenue from at least 30government and private agencies. The company has plenty of fundingfor the new ERP but just recently thought about getting a newERP”.
As a student who completed ACC200, what would you suggest thebest ways of getting the new ERP? Use the pros and Cons in youranswer about all the different methods of getting a new ERP.
Woolworths is a major supermarket in Australia with over 500Outlets all around the country. The company is about to implement anew system.
As a student of ACC200, You have been asked to write a report onthe best way for this conversion to best suit the interest of thecompany.
ABC is a company currently set up in Melbourne and currentlyoperating in all around Victoria. The operation of the company isgeneral cleaning offices and cleaning after constructionoperations.
Until now the company was only accepting cash payment from theclients upon delivery of services and also whenever possible onlymaking cash payment to employees and some suppliers.
Due to lack of business and pressure from clients, the companywill now also accept credit card payment from Businesses and set acredit account as well with payment to be made end of month.
Discuss the internal control/s necessary for this new procedurein billing.
XYZ is a company operating in wholesale wheelchairs repairs andretail sale. The company will be undergoing some changes inmanagement in a few weeks. You have been hired as part of the newmanagement to report on operations.
As part of your investigation, you found that all repairsservices were delegated to another company which belonged to theincumbent CEO’s wife. You also noticed that all the invoices fromthe company to XYZ were very costly and no detailed on the invoicesof the actual repairs. You also noticed that there was only 1option in for customers when paying the bills,
cash payment. It also came to your attention that XYZ did nothave a proper warehouse but all the stocks were being stored at aremote property owned by the CEO.
Write a report to the future management advising them on yourfindings and possible solution.
• Describe the Revenue cycle activities. Provide 3 examples ofpreventative controls suitable for the Revenue Cycle
• Describe the Purchase Cycle activities. What are the mainactivities in the purchasing cycle that an organisation should beaware of from a control perspective?
Step by step
Solved in 2 steps
