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- Given below question on accounting information system subject. You are required to give answers based on your own understanding with revelent examples. 1. What are the four levels of activity in the pyramid representing the business organization ? distinguish between horizontal and vertical flows of information. 2. What is the relationship among data, information and an information system? 3. Distinguish between Accounting Information System (AIS) and Management Accounting System (MIS) 4. What are the characteristics of good or useful information? 5. What are the levels of data hierarchy ? 6. Distinguish the roles of internal and external auditors 7. Distinguish between the centralized and distributed approaches to organizing the IT function.PLEASE ANSWER ALL 1. Reactions to information provided by management control system are:a. Formulated in the organization’s strategic plan.b. Judgmental, and are based on interpretations and circumstances.c. Assessed by the communication network of the MCS.d. Determined as those activities that will be most efficient and effective given the organization’s available technology. 2. A management accounting system should provide information to:a. All functional areas of the organization.b. Only accounting area of the organization.c. Only the production area of the organization.d. Organizational managers, but not to staff personnel. 3. Which of the following is not primary goal of a cost management system?a. Use cost drivers to develop product costs.b. Improve understanding of the activities.c. Develop organizational strategies.d. Measure performance.Which of the following would not be important in examining the firm's build-up of accounts receivable, cash and current assets? a. A brief cash budget b. Cash receipts and cash payments schedules c. income statement d. sales forecast
- Ma4. JE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) A company's business section of the annual report provides vital information about the company's products, its marketing and promotion, sales and distribution strategies, product design and development, manufacturing and quality assurance, and inventory management. 1._______________ 2) Learning about what's happening in the industry, markets, general economic conditions, trends in product development, and specific company strategies puts a company's numbers in context and helps you understand why they turned out as they did. 2._________________ 3) Accounting data should paint a picture of the results of implementing a particular business strategy by a company. 3._______________You can assume that you are hired by a local small business company as an ITconsultant. You are given 500-10,000 dollars to improve or setup its information systems.What is your Information System plan for the company?1. Introduce the context: the small business company introduction, its products,markets, and mission.2. Discuss the problems with its current information processing abilities – analyzewhether it is inadequate in satisfying computing requirements, misaligned with firmstrategy, not cost effective etc.103. Develop and justify your proposed IT strategy. What new technologies should beintroduced? What applications would they support, and who would use them to dowhat differently?The following are the benefits of financial module except: Select one: a. Automate financial and managerial accounting and financial supply chain management b. Provide rigorous support for financial reporting and such corporate governance mandates c. Gain deeper financial insight across the enterprise and tighten control of finances d. Ensure compliance and predictability of business vision.
- All of the following are functions of management except Select one: a. Controlling b. Leading c. Financing d. Planning21) Which of the following is not popular in the present business scenario? a. Balance sheet b. None of the options c. Statement of changes in Equity d. Income StatementElectronic spreadsheets are great tools formodeling. Give an example of a model thatshows gradual growth of a phenomenon anddescribe how you would implement it in aspreadsheet.
- 38-An elementary description of things, events , activities, and transactions is: O a Knowledge b Database Oc .Information O d. Data ItemWhy is it important to know the market size of the the business? Please explain thoroughly.Which of the following does a “golden triangle” notinvolve?_____ a. sport organizations_____ b. media organizations_____ c. political leaders_____ d. corporate sponsors