“Protecting the firm ’s assets through a good internal control system. The objective is to guard against loss of assets because of theft‚ accidental destruction‚ and errors. Assurance must exist that transactions related to assets have been properly processed and that appropriate physical handling and control over assets exist.” MYOB is a computerised accounting system in which it provides users with an exclusive modern integrated accounting package for relevant tasks of an accountant such as bookkeeping
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CheckPoint: Accounting Information System Requirements Rose Ann Rhone XACC/210C 09/06/2013 Donna Rosentrater CheckPoint: Accounting Information System Requirements In order to develop an accounting information system successfully the process has to broken up into phases. The phases are the system development life cycle (SDLC) which consists of the Planning and Investigation‚ Analysis‚ Design‚ Implementation‚ Follow-up‚ and Maintenance phases. The planning and investigation phase requires
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are making. It basically organizes and provides you with the information that is necessary for the particular vendor you are entering in the computer. B. From the accounting perspective‚ why do you need to enter all these data? This data is used to facilitate the submission of a vendor. It identifies and organizes all the information so when accessed later the vendor information is already set up. Accountants can use this information to gather what type of vendor they are looking for‚ the type
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CHAPTER 2 * Overview of Business Processes SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 2.1 Table 2-1 lists some of the documents used in the revenue‚ expenditure‚ and human resources cycle. What kinds of input or output documents or forms would you find in the production (or conversion) cycle? Students will not know the names of the documents but they should be able to identify the tasks about which information needs to be gathered. Here are some of those tasks:
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Accounting information systems have been advancing as technology advances. “Advances in technology will put an almost universal demand on CPAs to be more computer-literate than ever before” (HARRINGTON‚ 2005). It is no longer about just keeping a correct balance. People want to be promised privacy and protection. The good and bad problem with the new technology is it causes major changes in how businesses are operated and used. Accounting is not just calculating numbers; it is a people business.
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roles of financial accounting “Accounting is an information system that identifies‚ records‚ and communicates the economic events of an organization to interested users.”1. The basic objective of accounting is to provide information to the interested users to enable them to make business decisions and “Financial statements are the primary means of communicating financial information to parties outside the business organization.”2. Moreover‚ accounting can give the essential information‚ especially for
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location has acquired their own financial and accounting system and all data input into their own systems is sent to the corporate headquarters in San Jose‚ California. They provide the information to corporate to be combined into corporates information systems. This information is provided to the San Jose location either by hardcopy reports that must be re-entered or data files that must be converted to become compatible with San Jose’s information systems. Each location employed different vendors
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Accounting is the financial information system that provides these insights. In short‚ to understand your organization‚ you have to know the numbers. Accounting consists of three basic activities—it identifies‚ records‚ and communicates the economic events of an organization to interested users. You cannot earn a living‚ spend money‚ buy on credit‚ make an investment‚ or pay taxes without receiving‚ using‚ or dispensing financial information. Good decision making depends on good information
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Chapter 1 Accounting Information Systems and the Accountant INTRODUCTION WHAT ARE ACCOUNTING INFORMATION SYSTEMS? Accounting Information Systems—A Definition Accounting Information Systems and Their Role in Organizations CASE ANALYSES The Annual Report Universal Concrete Products Ross‚ Sells‚ and Young‚ LLP REFERENCES AND RECOMMENDED READINGS ANSWERS TO TEST YOURSELF WHAT’S NEW IN ACCOUNTING INFORMATION SYSTEMS? Suspicious Activity Reporting Countering Terrorism Corporate Scandals and Accounting
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Chapter 1--Introduction to Accounting Information SystemsChapter 1--Introduction to Accounting Information Systems Student: ___________________________________________________________________________ 1. The three themes of the text are operating systems‚ e-business‚ and internal control. True False 2. In an assurance service the accountant will provide the original information used for decision making. True False 3. Information systems reliability and electronic commerce have
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