Internal Control

Question #66:  Lamar LLC is in the process of updating its revenues and receivables systems with the implementation of new accounting software. James Loden, Inc. is an independent information technology consultant who is assisting Tamar with the project. James has developed the following checklist containing internal control points that the company should consider in this new implementation: Will all data entry clerks and accounting personnel have their own PCs with log‐in IDs and password protection? Will different system access levels for different users be incorporated? Will customer orders be received via the Internet? Has the company identified an off‐site alternative computer processing location? Does the project budget include line items for an upgraded, uninterrupted power source and firewall? Required: In a two (2) page response, describe the control purpose for each point presented in the case.

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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Answer the Below Question A company is considering whether to adopt a new accounting software system. Discuss the potential benefits and challenges of implementing new accounting software. What factors should the company consider when selecting a software system? How can the company ensure a successful implementation and minimize disruption to its operations?

In a one page reflection discuss the significance of privacy, fairness, and compliance with laws and regulations involving data collection and usage.  Your discussion should include insights on the latest trends in the global business environment, both domestically and internationally.

ning Objective 1 S8-1 Defining internal control Internal controls are designed to safeguard assets, encourage employees to follow company policies, promote operational efficiency, and ensure accurate accounting records. Requirements 1. Which objective do you think is most important? 2. Which objective do you think the internal controls must accomplish for the busi- ness to survive? Give your reason.

XYZ Company hired you as an internal control officer to help the company in developing the internal control system which is consists of policies and procedures to protect assets, ensure reliable accounting, promote efficient operations, and uphold company policies. As well as the system will prevent avoidable losses and help managers both plan operations and monitor company and human performance. list any five good principles of internal control that you need to consider when developing the system. Essay Toolbar navigation BIUS A !!! 四

For your Portfolio Project, you will research a current hot topic in accounting information systems or emerging technologies in the accounting industry. Your presentation should focus on the impact of the selected topic on accounting information systems, internal controls, and benefits and challenges associated with its implementation. Choose one of the topics below to research and discuss: Cloud-Based Accounting Offshore Staffing in Remote Work Accounting Software Big Data Data Analytics Automated Accounting Process Outsourcing the Accounting Functions Blockchain Value-Based Pricing Advisory Services Evolution of the Accountant Role Data Security Accountants Upskilling Tax Technology Forensic Accounting Accounting Education Role of Artificial Intelligence Submit your work as a PowerPoint presentation with voiceover. The presentation should be 6-8 slides, not including the title page and the reference page. Speaker Notes should be submitted as a Word Document. On the Word…

By taking into account information from the latest programme of Walmart (ethics and compliance) and the new GDPR data protection legislation, provide a summary of your key concerns about ethical, legal and professional implications associated with information handling and security 900 words

THEORY PROBLEM Explain why accounting students should study Accounting Information Systems? Explain the Value Chain and also explain how Information Technology plays an important role in the Value Chain. Briefly describe the types of users of the SIA and what are the benefits of the output of the AIS for their work or profession? One of the characteristics of useful information is that it must be timelines and complete. Which is more important, timely but incomplete information, or complete information, but too late? Give an example! Briefly describe the purpose of internal control and provide an example of an internal control application for that purpose!

Answer multi choice question in photo please

In the rapidly evolving technological landscape, how can companies ensure that their chosen computerized accounting systems are scalable to accommodate business growth and adaptable to emerging technologies? What considerations should organizations take into account to future-proof their accounting systems against technological obsolescence and changes in regulatory requirements?

sibility Mode Print Find The CEO of your company is concerned about cyber security and has asked you to perform a "breach of customer data” risk assessment. Beyond the costs of resolving the technical concerns, a breach of customer data will create potentially several unplanned costs such as: (1) forensic examination; (2) notification of customers and third parties; (3) increased call center costs; (4) public relations costs; (5) legal defense and potential settlements; and, (6) federal or state fines, penalties, and potential required future audits. You worked with the Director of Security to perform the risk assessment and your summary of the risk assessment is the following. The Director of Security believes there is only a 5% chance over the next three years of a breach of customer data. However, if a breach of customer data occurs the 10-50-90 range of impact to the company as measured in net present value is - $100M, -180M, and-250M respectively. The IT organization has suggested…

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.

Why the requirement is a foundation of your enterprise content management system? Select one: O b. Because the requirement will not change for a company Because people in the company doing their business according to those requirements O c. Because it is what your ECM program will utilize and build upon O d. Because the requirement will not change for a company

Show all workings and provide descriptions of how all answers were derived.

What strategies can businesses employ to facilitate effective training and smooth adoption of computerized accounting systems by their staff? How can organizations balance the need for user-friendly interfaces with the necessity for accurate data input and compliance with accounting standards?