Essay Accounting Systems

The entering of data is an important part of the computer operator’s daily routine. Computer operators may also have to take calls from customers complaining of computer system issues. The computer operator will diagnose the problem and then walk the individual through how to fix the situation. Should further help be needed, the computer operator will contact the necessary parties or advise the customer how to do so on their own.

| “Security controls are the management, operational, and technical safeguards or countermeasures employed within an organizational information system to protect the confidentiality, integrity, and availability of the system and its information” (NIST SP 800, 2009). The control allows the organization to efficiently mitigate the risk coming from the use of information System (IS) to conduct business operations and processes.

The chances of failures can be decreased by executing the checks on the systems. These keep an eye on the systems preventing risks from occurring, and these checks are avoided as the interior controls. The motivation behind the inner controls is to keep the organization safe from risks associated with the modernized accounting-system risks. Organizations change their manual accounting systems to computerized accounting systems for different reasons, this incorporates the points of interest, and the explanation behind utilizing electronic accounting information is instinct. The organizations embrace the policies of their

p. 10). Other controls include: Asset Classification and Control maintains an appropriate level of protection for all critical or sensitive assets. Communications and Operations Management reduces the risk of failure and its consequences by ensuring the proper and secure use of information processing facilities and by developing incident response procedures. Systems Development and Maintenance prevents the loss, modification, or misuse of information in operating systems and application software. Business Continuity Management develops the organization’s capacity to react rapidly to the interruption of critical activities resulting from failures, incidents, natural disasters, or catastrophes. Compliance ensures that all laws and regulations

1. To have a strong internal control system, a business must have good administrative controls. Administrative controls include: A. B. C. D. the reconciliation of the bank statement. the accuracy of the recording procedures. assessing compliance with company policies. maintenance of accurate inventory records.

Assess the degree to which the firm’s accounting reflects the underlying business reality. Identify accounting distortions and evaluate their impact on profits and the sustainability of profits.

The accounting system we use today started in Venice in renaissance period over 520 years ago. The trade business increased hugely during this time and all the financial recordings had to be written down to help people see how their business is doing. During that time in 1494 the first book about was published in accounting by Luca Paciolli and was called “The Collected Knowledge of Arithmetic, Geometry, Proportion and Proportionality”. He was called “The father of Accounting” and most of his described principles have been used up until this day.

In this composition, we will be discussing two topics that go hand in hand when it is dealt with in tax accounting. To fully understand the scope of this article, passive activity is defined by the IRS as “any rental activity or any business in which the taxpayer gains income but does not materially participate in the activity”(IRS). Examples of passive activities can include equipment leasing and real estate leasing, in contrast to salaries, wages which are generally considered non-passive activities. As the article “Skip the dorm, buy your kid a condo” states, there are tax benefits when renting a property, but now individuals have exploited loopholes in the tax code that can be controversial and even illegal.

Virus detection software must be updated on a regular basis to help protect honesty of systems. Hardware and passwords have to be changed sporadically and carefully to protect from unapproved access to database, computer systems, etc. Distinctive physical and software controls should be established for systems having delicate and/or confidential information.

only business activity is to sell pod racers imported from PD. ID pays a 20% import duty based on

1. A brief history of the two organisations, and their objectives, in as far as they

Corporations are often the victims of the most common white-collar crimes that occur in corporate America. According to the Association of Certified Fraud Examiners (cfenet.com), “abuse and fraud by employees cost U.S. organizations more than $400 billion annually…[which equals] $9 per employee per day.”

The aim of this report is to discuss the various methods of reducing computer fraud and to find out whether the computer security measures is necessary. In the main body of this report discuss about whether the

Effective internal controls protect a company’s assets, maintain compliance, improve operations, prevent fraud, and promote accuracy in financial reporting. In 1992 the

Accounting professionals are in very high demand. The nature of work in accounting is so vast an individual would have so many different areas of accounting to choose from. Accounting requires people who can work with complex business structures, computer systems, and financial analysis packages. Accounting work further requires an aptitude for mathematics and the ability to compare and analyze accounting data quickly. Accountants also need to have strong communication skills as they must effectively communicate accounting data to their employers and/or clients. The accounting profession also demands a high level of integrity and morality because the financial data prepared by accountants is used by business managers to run their