Accounting Information Systems
11th Edition
ISBN: 9781337552127
Author: Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher: Cengage Learning
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Question
Chapter 13, Problem 5SP
a)
Summary Introduction
To determine: The risks of the given function using the given table.
Introduction:
b)
Summary Introduction
To determine: The controls and technology of the given function using the given table.
Introduction:
Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.
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Students have asked these similar questions
Why should cash revenues and credit client sales be quickly recorded and reported?
Subject: FINANCIAL MANAGEMENT
Answer the following questions:
1. Discussed in this chapter is the Imprest System. What is it and how does it help in managing
the company's cash?
2. What is a compensating balance? Does it affect the company's disbursement policy?
3. In order to be classified as cash and cash equivalents, what are its requisites? Discuss each requisite briefly.
See the attached link for reference:
https://drive.google.com/file/d/1lT0HRXz4EKqT3le1AGT3oda98n3KCoQh/view?usp=drivesdk
True or False: Managing the cash inflows and payment outflows is one of the critical functions of the financial manager.
Chapter 13 Solutions
Accounting Information Systems
Ch. 13 - Prob. 1RQCh. 13 - What primary functions does the AP/CD process...Ch. 13 - Prob. 3RQCh. 13 - What are the fundamental responsibilities of the...Ch. 13 - Prob. 5RQCh. 13 - Prob. 6RQCh. 13 - Prob. 7RQCh. 13 - Prob. 8RQCh. 13 - How does EDI improve the effectiveness and...Ch. 13 - What is EIPP? How does it improve the efficiency...
Ch. 13 - What are the two operations process...Ch. 13 - Prob. 12RQCh. 13 - Prob. 13RQCh. 13 - Prob. 14RQCh. 13 - Prob. 1DQCh. 13 - This chapter discusses both fraud and...Ch. 13 - Prob. 3DQCh. 13 - Prob. 4DQCh. 13 - Prob. 5DQCh. 13 - Prob. 6DQCh. 13 - Prob. 1SPCh. 13 - Prob. 2SPCh. 13 - Prob. 3SPCh. 13 - Prob. 4SPCh. 13 - Prob. 5SPCh. 13 - Prob. 6SPCh. 13 - Prob. 4PCh. 13 - Our narrative and DFDs are created assuming that...Ch. 13 - Prob. 6PCh. 13 - Prob. 7P
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Similar questions
- Which one of the following components of internal control over financial reporting sets the tone for the organization? a. Risk assessment. b. Control environment. c. Information and communication. d. Monitoring.arrow_forwardSuppose we collected cash from a charge customer and the debit was to Cash and the credit to Sales. How and when would this error be discovered?arrow_forwardCash, inventory and accounts receivable are examples of Select one: a. Agents b. All answers are correct c. Resources d. Eventsarrow_forward
- It is when the money launderers will put the money into a legitimate financial system * Placement Stage Layering Stage Integration Stagearrow_forwardHow and why are regular accounting data modified for use in financial management? (Hint: Thinkabout cash and operations.)arrow_forwardChoose from the following list of terms and phrases to best complete the following statements. a. Cash c. Outstanding check e. Cash over and short b. Cash equivalents d. Liquidity f. Voucher system 1. The category includes currency, coins, and deposits in bank accounts. 2. The term refers to a company’s ability to pay for its current liabilities. 3. The category includes short-term, highly liquid investment assets that are readily convertible to a known cash amount and sufficiently close to their due dates so that their market value will not greatly change.arrow_forward
- Financial management mainly focuses on Select one: O a. Efficient management of every business O b. None of the option O c. All elements of acquiring and using means of financial resources for financial activities O d. Brand dimension e. Arrangement of fundsarrow_forward1. The disbursement cycle primarily focuses on the control of cash payments and does not involve other financial transactions, such as investments or loans. true or false 2. EFT (Electronic Funds Transfer) payments are processed and settled instantly, eliminating the risk of delays or float. true or falsearrow_forwardWhy is careful management of accounts receivable and accounts payable so essential to ensuring positive cash flow?arrow_forward
- Which of the following is true? a. The cash disbursement function is part of accounts payable. b. Cash disbursements is an independent accounting function. c. Cash disbursements is a treasury function. d. The cash disbursement function is part of the general ledger department.arrow_forwardWhich of the following is defined as art and science of managing money? a. Finance b. Investment Management c. Corporate Governance O d. Strategic Managementarrow_forwardLong questions. For each of the following accounts, give key risks, relevant assertions and how to test those assertions. 1. Non-current assets 2. Inventory 3. Receivables 4. Bank 5. Payables 6. Long-term liabilities 7. Statement of profit or loss itemsarrow_forward
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