1. What is the purpose of an EDP audit?
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1. What is the purpose of an EDP audit?
2. What is the purpose of cost accounting ISs?
3. An SIS often offers a corporation short-lived advantages. Why?
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- Which of the following are affected by the quality of an organization’s internal controls? a. Reliability of financial data. b. Ability of management to make informed business decisions. c. Ability of the organization to remain ¡n business. d. All of the above. e. Only a and c.Which of the following does not describe a management control system? A. establishes a companys strategic goals B. implements a companys strategic goals C. monitors a companys strategic goals D. a system that only measures profitabilityWhich of the following statements is incorrect? The practice of management accounting is fairly flexible. The information gathered from management accounting is not required by law. Management accounting focuses mainly on the internal user. Reports produced using management accounting must follow GAAP.
- How do the subject matter of reports and the verification of reports differ between financial accounting and managerial accounting?Answer the following: In detail, what's the benefit of accounting harmonization?Discuss how Standardization can reduce administrative costs?Illustrate one of the Statistical methods for the measurement of accounting harmonization in detail (by Research, will not be found in the book)The two primary qualities that make accounting information useful for decision making are: comparability and consistency. materiality and timeliness. relevance and reliability. reliability and comparability. Information is neutral if it: provides benefits which are at least equal to the costs of its preparation. can be compared with similar information about an enterprise at other points in time. would have no impact on a decision maker. d. is free from bias toward a predetermined result.
- The following questions relate to the apparent divergence in view between the standard setters and the private sector, with respect to the need to shift from historical cost to current value accounting: (a) In your opinion, why do standard setters moving away from traditional historical cost accounting? (b) Why do think that the business community and the public accounting firms are so strongly opposed to a move away from historical cost accounting? (c) Measurement principles are fundamental to any accounting system. Why does the Framework lack fully developed measurement concepts?(Do not provide AI Content otherwise i will dislike) What is a primary focus of performance measurement in public sector accounting? a) Maximizing shareholder wealth b) Achieving profitability c) Enhancing service delivery and accountability d) Minimizing tax liabilities1.The IASB sets standards for: a. The private sector b. The public and private sectors c.The public, private and not-for-profit sector d. The private and not-for-profit sector 2. Which of these is not one of the benefits of a Conceptual framework? a. Reporting requirements will be more Consistent and logical b. It may allow firms to reduce their reported profit c. The need for specific accounting standards should be reduced d. Standard setting boards will be more accountable for their actions
- Do not Copy What is the difference between managerial and financial accounting?Under what circumstances can you envision management using alternative one rather than alternative two? Some accountants argue that the receiving department should be eliminated. Discuss the objective of eliminating the receiving function. What accounting/audit problems need to be resolved.Drawing on your background in accounting, can you think of any accounting procedure differences that might make it difficult to compare the relative performance of different firms?
