WatkinsCarol - AC550 Assignment Unit 6
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Unit Six Assignment Anderson Manufacturing
Carol Watkins
AC550
Purdue University Global
Doctor Letsch
March 26, 2024
Current Financial Reporting Challenges
Increased need for reports
Issues with report formats
Needs improved system
What is XBRL
eXtensible Business Reporting Language
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Related Questions
Chapter 10
Accounting Information Systems
Short Problem 10-3, page 394: Using the following table as a guide, describe for each function from Figure 10.1:
A risk (an event or action that will cause the organization to fail to meet its goals/objectives)
A control/process or use of technology that will address the risk.
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Sh8
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Knowledge Check 01
Financial statement analysis provides information to internal users to improve:
O financial statements
O their own goals
O efficiency and effectiveness
O company performance and financial condition
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Case Study: Financial Reporting in a Dynamic Business Environment
Introduction: Financial reporting is a cornerstone of transparency and accountability in the corporate world. In today's dynamic business environment, organizations encounter various challenges and complexities as they strive
to provide accurate and timely financial information. This case study explores the multifaceted nature of financial reporting, examining key factors that influence the process and the implications for stakeholders.
Technological Advancements and Data Management: In the digital age, technological advancements have transformed the landscape of financial reporting. Companies now have access to sophisticated software and tools that
streamline data collection, analysis, and presentation. While these advancements enhance efficiency, they also introduce challenges related to data security, integrity, and the need for skilled professionals to navigate complex
systems.
Globalization and Diverse Regulatory…
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answer quickly
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GP
You
Write a post providing us with the context for the resources of adopting innovative technologies that can lead to streamlined processes, real-time insights, and increased focus on strategic planning technological advancements in the accounting and finance profession have required finance professionals to adapt and expand their skill sets. Those who can adapt can support business growth and discover better career opportunities selected by identifying the field of study of accounting and finance and specifying an associated profession if relevant. Explain in two separate sections how this could be applied to the criteria of validity checklist to determine the validity of each resource. Try to be as thorough as possible with the questions listed under each heading on the checklist. If unable to make a determination about any of the criteria, be sure to explain that, too.
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ACC340
Chapter 16, Problem 16-11, on page 641: Discuss how emerging technologies, such as the Internet, affect the GL/ BR process. In what ways will organizations have to adapt their business processes to reflect the changes in these external factors?
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Pemaining: 01:57:28
Accounting
Subject : Management information system
Draw two(2) separate mind maps to describe :
1) The ethical issues brought about by the development amd advancement in information technology
2) The threats towards computerised information system and protective measures to counter them.
Your ancwor
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TRUE OR FALSE
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assgt_mgmt1000_open_s3_22.xls
complete the questions
Using the Microsoft excel workbook
below to provide solutions for the directors and board members of KPT Enterprises, regarding
their financial reporting requirements:
a.
Using the "2020 Quarterly Revenue" worksheet provide the relevant formulas to
complete the worksheet.
b.
In the same worksheet, dynamically apply the following formats for Qtrl through Qtr4
for all revenue types:
i.
Values over $65,000 should be red and bolded
ii.
Values under or equals to $15,000 should be green and italicized
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Revisit
Choose the best option
Question # 25
A Report a Problem
O firm, individual
While redefining management phenomena, the management accounting professionals have to
focus on the
and the
O past, present
O issues, solutions
innovation, systems
+91 80 4719 0917
Deepanshu | Support +1 650-924-9221
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02-There are many effort which were carried out in the past for bringing uniformity and understanding of accounting guidelines. The uniqueness of global reporting initiatives guidelines which was published in 3rd generation in 2006 was
a. Applicability to all types of organizations.
b. Comparing performance with in and across organizations
c. None of the options
d. How organization is influenced by expectations
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10
Question #1
A Report a Problem
Revisit
Choose the best option
refers to the process of supervising and monitoring the organisation financial
O Financial control
operations.
O Financial decision making
O Financial Planning
O Financial Budgeting
Deepanshu | Support +1 650-924-9221
+91 80 4719 0917 I
meiti •
P Type here to search
1)
up
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Answer it precisely and clear format
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can you help me with D,E,F,G,and H
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Accounting Information Systems | 11th Edition
Chapter 7, Problem 3P
Following is a list of eight generic control goals from the chapter, followed by eight descriptions of either process failures (i.e., control goals not met) or instances of successful control plans (i.e., plans that helped to achieve control goals).
List the numbers 1 through 8 on a solution sheet. Each number represents one of the described situations. Next to each number:
Place the capital letter of the control goal that best matches the situation described.
Provide a one- or two-sentence explanation of how the situation relates to the control goal you selected. If you select more than one control goal for a situation, provide an explanation for each that you select.
Hint: Some letters may be used more than once. Conversely, some letters may not apply at all.
Control Goals
Ensure effectiveness of operations
Ensure efficient employment of resources
Ensure security of resources
Ensure input validity…
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Need assistance I am trying to get an example on how I would explain this to a group
Explain some management accounting methods and how your report and the data it represents adhere to industry standards and the AICPA code of ethics.
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i. Briefly inform these stakeholders of the benefits of automation on the current business processes within the organization, specifically referencing the benefits of using a spreadsheet solution and how easy it was to process data to derive the information presented in the report. ii. Give a brief analysis of the data found in the chart
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7 out of 15
Modeling Best Practices
There are various best practices when it comes to entering data.
Which of the following is a best practice for financial model inputs?
Data should only be entered once
Use complex calculations to minimize space in the model
Always lock input cells
Document every change to the model
Review Later
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q10
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Question 15
Which 2 management report templates will be seen by default when
accessing a client's books via QuickBooks Online Accountant?
Expanded company financials
Sales performance
Basic company financials
Expenses performance
Company overview
Profitability performance
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SEE MORE QUESTIONS
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Related Questions
- Chapter 10 Accounting Information Systems Short Problem 10-3, page 394: Using the following table as a guide, describe for each function from Figure 10.1: A risk (an event or action that will cause the organization to fail to meet its goals/objectives) A control/process or use of technology that will address the risk.arrow_forwardSh8arrow_forwardKnowledge Check 01 Financial statement analysis provides information to internal users to improve: O financial statements O their own goals O efficiency and effectiveness O company performance and financial conditionarrow_forward
- Case Study: Financial Reporting in a Dynamic Business Environment Introduction: Financial reporting is a cornerstone of transparency and accountability in the corporate world. In today's dynamic business environment, organizations encounter various challenges and complexities as they strive to provide accurate and timely financial information. This case study explores the multifaceted nature of financial reporting, examining key factors that influence the process and the implications for stakeholders. Technological Advancements and Data Management: In the digital age, technological advancements have transformed the landscape of financial reporting. Companies now have access to sophisticated software and tools that streamline data collection, analysis, and presentation. While these advancements enhance efficiency, they also introduce challenges related to data security, integrity, and the need for skilled professionals to navigate complex systems. Globalization and Diverse Regulatory…arrow_forwardanswer quicklyarrow_forwardGP You Write a post providing us with the context for the resources of adopting innovative technologies that can lead to streamlined processes, real-time insights, and increased focus on strategic planning technological advancements in the accounting and finance profession have required finance professionals to adapt and expand their skill sets. Those who can adapt can support business growth and discover better career opportunities selected by identifying the field of study of accounting and finance and specifying an associated profession if relevant. Explain in two separate sections how this could be applied to the criteria of validity checklist to determine the validity of each resource. Try to be as thorough as possible with the questions listed under each heading on the checklist. If unable to make a determination about any of the criteria, be sure to explain that, too.arrow_forward
- ACC340 Chapter 16, Problem 16-11, on page 641: Discuss how emerging technologies, such as the Internet, affect the GL/ BR process. In what ways will organizations have to adapt their business processes to reflect the changes in these external factors?arrow_forwardPemaining: 01:57:28 Accounting Subject : Management information system Draw two(2) separate mind maps to describe : 1) The ethical issues brought about by the development amd advancement in information technology 2) The threats towards computerised information system and protective measures to counter them. Your ancworarrow_forwardTRUE OR FALSEarrow_forward
- assgt_mgmt1000_open_s3_22.xls complete the questions Using the Microsoft excel workbook below to provide solutions for the directors and board members of KPT Enterprises, regarding their financial reporting requirements: a. Using the "2020 Quarterly Revenue" worksheet provide the relevant formulas to complete the worksheet. b. In the same worksheet, dynamically apply the following formats for Qtrl through Qtr4 for all revenue types: i. Values over $65,000 should be red and bolded ii. Values under or equals to $15,000 should be green and italicizedarrow_forwardRevisit Choose the best option Question # 25 A Report a Problem O firm, individual While redefining management phenomena, the management accounting professionals have to focus on the and the O past, present O issues, solutions innovation, systems +91 80 4719 0917 Deepanshu | Support +1 650-924-9221 metti Type here to search f9 144 f6 f5 f4 f3 IOI f2 & 7 SC 6. %23 3 5 @ 2 4 1 %24arrow_forward02-There are many effort which were carried out in the past for bringing uniformity and understanding of accounting guidelines. The uniqueness of global reporting initiatives guidelines which was published in 3rd generation in 2006 was a. Applicability to all types of organizations. b. Comparing performance with in and across organizations c. None of the options d. How organization is influenced by expectationsarrow_forward
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SEE MORE QUESTIONS
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Recommended textbooks for you
- Accounting Information SystemsFinanceISBN:9781337552127Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan HillPublisher:Cengage LearningPkg Acc Infor Systems MS VISIO CDFinanceISBN:9781133935940Author:Ulric J. GelinasPublisher:CENGAGE LAccounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Managerial Accounting: The Cornerstone of Busines...AccountingISBN:9781337115773Author:Maryanne M. Mowen, Don R. Hansen, Dan L. HeitgerPublisher:Cengage Learning
Accounting Information Systems
Finance
ISBN:9781337552127
Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher:Cengage Learning
Pkg Acc Infor Systems MS VISIO CD
Finance
ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Managerial Accounting: The Cornerstone of Busines...
Accounting
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Cengage Learning