evaluate the effectiveness of the controls in the double entry system of accounting in ensuring the accuracy of the accounts. As well as examining the controls‚ your evaluation should consider errors that do not affect the balancing of the trial balance. Double entry accounting system was invented in 15th century and still being in use until today‚ this is quite an interesting fact; however it indicates that there is something about the system‚ thus making it so effective and irreplaceable. To evaluate
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Effect of I.T on Accounting System in Nigeria 1.0 Introduction Information Technologies significantly affect human as well as other animal species’ ability to control and adapt to their natural environments. The human species’ use of technology began with the conversion of natural resources into simple tools. Information technology (IT) has created significant benefits for various profession as well as deferent aspect of the world economy. The application of the networks system has shortened
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Kudler Accounting System Ashley Rivera BSA/310 June 11‚ 2012 Kudler Accounting System In 1998‚ Kudler Fine Foods specialty food store opened its doors and has continued to grow ever since. Within five years‚ Kudler opened two more stores and business could not be better. To compete with the competition‚ Kudler Fine Foods realized the benefit of implementing a frequent shopper reward program. The frequent shopper rewards program will keep its members updated on store promotions‚ sales‚ and
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result of this leniency could be detrimental to the integrity of the company and their ability to protect their consumer’s proprietary information or even their own financial records. Information Systems are manmade and are unlikely to be infallible but it is the Information Technicians duty to insure the system is being tweaked and adjusted to avoid the onslaught of intruders. Accident forgiveness is the slogan for Allied Insurance they may be on to something based upon who is liable because they are
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resources against waste‚ fraud‚ or inefficient use; ensuring the reliability of accounting data; securing compliance with management policies; and evaluating the performance of all employees‚ managers and departments within the organization. The accounting system depends upon internal control procedures to ensure the reliability of accounting data. Many internal control procedures on the other hand make use of accounting data in keeping track of assets and monitoring the performance of departments
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Accounting Information System(AIS) - is a structure that a business uses to collect‚ store‚ manage‚ process‚ retrieve and report its financial data so that it can be used by accountants‚ consultants‚ business analysts‚ managers‚ chief financial officers (CFOs)‚ auditors and regulatory and tax agencies. Components of AIS a. People - the system users - professionals who may need to use an organization’s AIS include accountants‚ consultants‚ business analysts‚ managers‚ chief financial officers
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Chapter 3 – Ethics‚ Fraud‚ and Internal Control Fraud 1. Compare and contrast employee fraud vs. management fraud. a. Employee Fraud a. Nonmanagement employees convert cash or assets to direct employee benefit b. Management Fraud – Performance Fraud a. Does not involve direct theft of assets b. Fraud is perpetrated above which the internal control structure generally relate c. Use financial statements to create an illusion that an entity is healthier than it is d. Misappropriation of
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within company to company accounting and Accounting Information Systems (AIS) will play a big role in financial management and decision making. The degree of value and how usable an AIS is depending on if the system is custom‚ outsourced or boxed. In this paper I will talk about just that. You will find out if the company should keep‚ change‚ modify or outsource and what will be the advantages and disadvantages of doing so. Analyze the need for changing to a new system and the potential benefits
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1 INTRODUCTION Accounting Information System (AIS) is vital to all organizations according to (Borthick and Clark‚ 1990; Curtis‚ 1995; Rahman et al.‚ 1988; Wilkinson‚ 1993; Wilkinson et al.‚ 2000) and perhaps‚ every organizations Either profit or nonprofit-oriented need to maintain the AISs (Wilkinson‚ 2000: 3-4) to better Understand the term ‘Accounting Information System’‚ the three words constitute AIS would be Elaborate separately. Firstly‚ literature documented that accounting could be identified
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Final Exam ACC/340 Accounting Information Systems I Week 5 The point value for the Multiple Choice is 1 point per question each for a grand total of 20 points. If you have any questions please let me know. Thank you and good luck. 1. The “S” in the acronym “AIS” stands for: a) Standard b) System (X) c) Symbol d) none of these 2. Which of the following is true? a) An AIS must be computerized to be useful b) An AIS always produces useful information
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