study guide ACC
ACC 444 Exam 1 Guide
Summary of Questions (approximate):
Topic
# Multiple Choice Questions (2 pts each)
Total
Points
Business Process Overview
9
Computer Fraud & Abuse
16
Internal Control Systems
25
Total # questions
50
100
Study Guide
While there couldbe questions from other topics discussed in class, themain emphasis will be on the following subject matter:
Business Process Overview
The “transaction cycles” approach
The data processing model
Computer Fraud& Abuse
The fraud process – commit, conceal, & convert
The fraud triangle
The three types of fraud
Computer fraud techniques
Internal Control Systems
Internal Environment – the key aspects
Risk Assessment process, including cost-benefit analysis
Risk response - types
Control Activities – types
Segregation of Duties – understanding the true nature of custody, recording and authorizing functions
Segregation of IS duties
The Nature of Preventive, Detective, & Corrective Controls
Sarbanes Oxley requirements pertaining to internal controls
Additional Preparation Tools:
Quiz in textbook – chapter end,
Online Textbook Quiz (http://wps.pearsoned.com/bp_romney_ais_13/244/62562/16015892.cw/index.html),select “Study Guide” for each relevant chapter to get to that chapter’s online quiz.
Homeworks, in-class exercises and additional problems discussed in class
Sample Questions (Answer Key on the last page)
1) One element of the COSO-ERM framework is risk assessment. Suppose a company estimates that there is a 2% probability that a fire would destroy its main data center, and that it would cost $3,000,000 to replace the data center. Which of the following is a proper description of the terms involved?
a. Expected Loss is $3,000,000 and Impact is $60,000
b. Risk is 2% and Expected Loss is $3,000,000
c. Expected Loss is $60,000 and Impact is $3,000,000
d. Risk is 2% and Impact is $60,000
2) Segregation of Duties is an example of which type of
Summary of Questions (approximate):
Topic
# Multiple Choice Questions (2 pts each)
Total
Points
Business Process Overview
9
Computer Fraud & Abuse
16
Internal Control Systems
25
Total # questions
50
100
Study Guide
While there couldbe questions from other topics discussed in class, themain emphasis will be on the following subject matter:
Business Process Overview
The “transaction cycles” approach
The data processing model
Computer Fraud& Abuse
The fraud process – commit, conceal, & convert
The fraud triangle
The three types of fraud
Computer fraud techniques
Internal Control Systems
Internal Environment – the key aspects
Risk Assessment process, including cost-benefit analysis
Risk response - types
Control Activities – types
Segregation of Duties – understanding the true nature of custody, recording and authorizing functions
Segregation of IS duties
The Nature of Preventive, Detective, & Corrective Controls
Sarbanes Oxley requirements pertaining to internal controls
Additional Preparation Tools:
Quiz in textbook – chapter end,
Online Textbook Quiz (http://wps.pearsoned.com/bp_romney_ais_13/244/62562/16015892.cw/index.html),select “Study Guide” for each relevant chapter to get to that chapter’s online quiz.
Homeworks, in-class exercises and additional problems discussed in class
Sample Questions (Answer Key on the last page)
1) One element of the COSO-ERM framework is risk assessment. Suppose a company estimates that there is a 2% probability that a fire would destroy its main data center, and that it would cost $3,000,000 to replace the data center. Which of the following is a proper description of the terms involved?
a. Expected Loss is $3,000,000 and Impact is $60,000
b. Risk is 2% and Expected Loss is $3,000,000
c. Expected Loss is $60,000 and Impact is $3,000,000
d. Risk is 2% and Impact is $60,000
2) Segregation of Duties is an example of which type of