LJB Company’s Internal Control Recommendation Report February 2012 Prepared for: LJB Company President Finance Department Prepared by: Cauretta Bell Recommendation Report 2012 It is my immense pleasure to report and evaluate the findings of the internal control procedures to the President of LJB Company regarding recommended changes for the organization to utilize internal control requirements. We will provide useful recommendation so that LJB Company will be fully prepared to go public
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Running head: Information Technology vs. Information Systems Information Technology for Managers John Alexander Keys to Information Technology Abstract 1. In your own words‚ define the terms "information technology" (IT) and “information systems” (IS) and explain their components and infrastructure. Why is it important for a manager to be involved in IT and what are the critical responsibilities for the manager? 2. Case Study (discuss the case and answer questions at end of case):
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Answer 1 A1) Define Business Information System i. A combination of hardware‚ software‚ infrastructure and trained personnel organized to facilitate planning‚ control‚ coordination‚ and decision making in-an organization. ii. Systems integrating information technology‚ people and business. A2) How it is important for an organization? Explain E-mail communication Communication between organization and external business partners. More effective‚ faster and proper log system. Electronic handbooks
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not restricted to a geographical location‚ although it might be confined within the bounds of a state or country. A WAN connects several LANs‚ and may be limited to an enterprise (a corporation or an organization) or accessible to the public. The technology is high speed and relatively expensive. The Internet is an example of a worldwide public WAN. Q2. Explain the advantages and the disadvantages of using the following networks inbusiness: a) Client/server networks? b) Network computing? c) Peer-to-peer
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communicating; it is also the exchange of ideas‚ messages‚ or information‚ as by speech‚ signals‚ or writing. To communicate is to express one-self effectively. (1985‚ p. 299) Effective communication is of one the toughest issues today. With the advancement of technology‚ it has opened many ways of communicating. We live in the communication world of cellular phone‚ faxes‚ video conferencing‚ Internet connection and many more. The combining of technology and communication brings immediacy‚ integration‚ access
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Section 404 Audits of Internal Control and Control Risk Review Questions 10-1 Management typically has three broad objectives in designing an effective internal control system. 1. Reliability of Financial Reporting Management is responsible for preparing financial statements for investors‚ creditors‚ and other users. Management has both a legal and professional responsibility to be sure that the information is fairly presented in accordance with reporting requirements such as GAAP
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DRAFT of August 1991. For the final version see Decision Support Systems‚ December 1992‚ pp 365-386. RECENT APPLICATIONS OF ECONOMIC THEORY IN INFORMATION TECHNOLOGY RESEARCH J. Yannis Bakos University of California‚ Irvine Chris F. Kemerer Massachusetts Institute of Technology August 1991 This is a draft version of the article that appeared in Decision Support Systems‚ December 1992‚ pp 365-386. Helpful comments on earlier drafts of this article were received from C. Beath‚ E
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Health Information Technology : Quality Issues Author : Neha Salian Co-author : Malvika Hake Abstract Health IT is the technology that enables patients and providers to support better health and health care by providing targeted information meant to inform‚ educate or generally allow for improved decision making. With health care costs and quality assurance taking central roles in the health care arena‚ increasing attention is being directed towards the potential of health information
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2011 I was asked to give my recommendations on LJB Company’s internal control system before the company decides to go public in the future. Based on my review of the information that I have been given‚ the following are my recommendations for new internal controls: 1. Establishment of Responsibility 2. Segregation of Duties 3. Human Resources Control 4. Independent Internal Verification 5. Physical controls It is good to see that LJB recognizes the efforts of its long term
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Revenue Cycle and Control Activities The revenue cycle for many companies is considered the primary source to earn revenue from the sale of goods or service. Good controls must be established to maintain the effectiveness of receivables and credit sales‚ not doing so can harm the company and might be costly to the business. Six classes of internal controls guides us in evaluating and designing transaction processing. They are authorization‚ supervision‚ segregation of duties‚ access control‚ independent
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