When was the Muscat Clearance and Depository Company (MCDC) established and what are the most important functions it does?

Q: Which internal control objective is concerned with ensuring that accumulated totals in the…

A: Internal controls are the procedures that are implemented to ensure operational efficiency and…

Q: When does an accounting information system becomes useful?  What is the relevance of having…

A: 1.When does an accounting information system becomes useful? 2. What is the relevance of having…

Q: s data independence? why is it important in a comparison of the application and centralised database…

A:

Q: What do you mean by electronic data interchange?

A: Accounting information systems: Accounting information systems collect data from different events…

Q: An introduction to what are the most effective internal control systems or techniques available for…

A: Introduction to Internal control system: The internal control system consists of procedures and…

Q: What steps of independent verification does the general ledger department perform?

A: The general ledger of an organisation is maintained by the general ledger department. The recording…

Q: Where is the IASB located?

A: International Accounting Standards Board (IASB): IASB is the board which frames, develops, approves,…

Q: What types of controls are in place to protect data (such as company information or customer…

A: There are many controls which can be put to protect the data as these are very confidential and they…

Q: What kinds of information can be confirmed with a transfer agent?

A: The transfer agent is an entity that holds the information about the financial records of the…

Q: How does a database lockout contribute to financial data integrity?

A: Definition: Database management: Database management refers to the management of databases held…

Q: What represents a company’s primary means of cummunicaying information to external users?

A: First of all, we need to understand who are external users- these are the people who are interested…

Q: What is the purpose of a bookkeeping system?

A: This question explains about the purpose of a bookkeeping system

Q: What type of internal control is matching supporting documents before paying an invoice?

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: What are the key control objectives required for a well-designed general ledger and reporting…

A: The objective of this question is to identify the key control objectives that are necessary for a…

Q: What is an internal exchange transaction, and how is it reported?

A: Internal exchange transactions are those reciprocal exchange transactions that occur between funds…

Q: authorization payment

A: Authorization of payment means allow subordinates to make payment after approval of top executives…

Q: What are the computer ethical issues regarding ownership of property?

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Q: do COSO Internal Controls prevention fraud?

A: Internal controls are the policies and procedures put in place to protect your company's assets,…

Q: What control system and subsidiary accounts should be included in Ermler & Trump’s manual accounting…

A: Control system and subsidiary accounts that should be included in Ermler & Trump’s manual…

Q: What are subsidiary ledgers and control accounts,and why are they used? Describe how they work.

A: An accounting ledger is an accounting account or record that keeps track of activities on the…

Q: What is the purpose of a check digit?

A: A check digit is a form of control check which is used for the purpose of error detection on…

Q: What type of internal control is verifying source documents before recording transactions?

A: Step 1:   The verification of source documents means to check if all the documents relating to a…

Q: What is the purpose of Transaction Tagging?

A: Tagging and tracking transaction: In tagging and tracking transaction technique, the auditor puts a…