Below are the benefits of computerised accounting syste,.Explain and give example on the below keypoints. • Instant Reporting • Reduction in Paper Work - Now most of the work is done via computerised system. Hence, their is less need of manual work. • Flexible Reporting • Accounting Queries • Online Facility - All the data can be make available online anywhere and anytime to any manager. • Security - All data is stored in computer with strong passwords and usernames.

Below are the benefits of computerised accounting syste,.Explain and give example on the below keypoints. • Instant Reporting • Reduction in Paper Work - Now most of the work is done via computerised system. Hence, their is less need of manual work. • Flexible Reporting • Accounting Queries • Online Facility - All the data can be make available online anywhere and anytime to any manager. • Security - All data is stored in computer with strong passwords and usernames.

Accounting Information Systems

10th Edition

ISBN:9781337619202

Author:Hall, James A.

Publisher:Hall, James A.

Chapter9: Database Management Systems

Section: Chapter Questions

Problem 2P

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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 different system access levels for different users be incorporated?
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?
Increasing use of sophisticated EDP systems has produced significant changes in the accounting environment. Some of these changes are the following: documents that are used to enter information into the computer may exist for only a short time or only in computer-readable form. In some computer systems, input documents may not exist at all, because information is entered directly into the system. Computer processing uniformly subjects like transactions to the same processing instructions. Many internal control procedures, once performed by separate individuals in manual systems, may be combined in systems that use computer processing. The potential for individuals to gain unauthorized access to data or assets may be greater in computerized accounting systems than in manual systems. Required: For each of the changes, discuss the impact on the internal control system and the independent audit.
Please answer all the requirements. Thank you 1. Increasing use of sophisticated EDP systems has produced significant changes in the accounting environment. Some of these changes are the following: a. documents that are used to enter information into the computer may exist for only a short time or only in computer-readable form. In some computer systems, input documents may not exist at all, because information is entered directly into the system. b. Computer processing uniformly subjects like transactions to the same processing instructions. c. Many internal control procedures, once performed by separate individuals in manual systems, may be combined in systems that use computer processing. d. The potential for individuals to gain unauthorized access to data or assets may be greater in computerized accounting systems than in manual systems. Required: For each of the changes, discuss the impact on the internal control system and the independent audit. 2. The CARE…
1. In a manual accounting system, what advantage does the journal voucher system have over the traditional general journal system? 2. Discuss how the nature of the necessary internal control features is affected by switching from a manual system to (1) a large-scale computer-based accounting system or (2) a PC-based accounting system. 3. Under what circumstances will automated mailroom procedures provide the most benefit? The least benefit?
After finishing your accounting degree, you joined an accounting firm. This is a medium-size accountingfirm with a reasonable range of clients. You are in an engagement meeting with one of your clients, andyour client's management raises some concerns. In particular, the management is concerned that theaudit tests that you perform will disrupt operations. Your client has recently implemented a datawarehouse. The management suggests that you draw the data for analytical reviews and substantivetesting from the data warehouse instead of the operational database. Further, the management pointsout that operational data are copied weekly into the data warehouse, and all data you need are containedthere.Required: Based on the given scenario, outline your response to the management's proposal and mentionany concerns you might have.
After completing your first degree in accounting you have been employed by XYZ Company as an account officer. The Management of the company has tasked you to implement a computerized accounting system Explain the difference between a stand-alone package and an integrated package? Explain two advantaged and two disadvantages of an integrated package e) Before a new accounting package can be deployed, it needs to be configured. What does it mean to configure an accounting package? Explain the processes involved in the configuration of an accounting package.
Which of the following is a risk to the financial statement of a company when it places a purchase order with a supplier? The advantages of PDF files are: A. that they can be securely locked so that the figures cannot be changed.B. that they can be easily manipulated and changed by users.C. the software to produce them is very cheap.D. none of the options are correct. 2. What is information overload? A. The situation where a computer has more information than is needed or is able to be processed in a meaningful way when a computer program is executed.B. The situation where an individual has more information than is needed or is able to be processed in a meaningful way when working through a decision.C. The situation where a computer has more information than is needed or is able to be processed when data storage is taking place.D. The situation where the amount of information exceeds the storage capacity of the brain of a human being. 3. When all data are stored in a central place,…
Which of the following is an advantage of a computer-based system for transactionprocessing over a manual system? A computer-based system(1) does not require as stringent a set of internal controls.(2) will produce a more accurate set of financial statements.(3) will be more efficient in generating financial statements.(4) eliminates the need to reconcile control accounts and subsidiary ledgers
A new system development project is being planned for Consti Corporation. The invoicing, cash receipts, and accounts payable modules are all going to be updated. You are the controller of ConstiCorporation, and you are a little anxious about the aforementioned project. The last systems development project that affected your department was not very successful, and the employees in the accounting department did not accept the new system very well at first. You feel that the systemspersonnel did not interact sufficiently with the users of the systems in the accounting department. Required: Prepare a memo that you will send to Anna Marie, the head of the information systems department. In the memo, provide some suggestions about the new project, including your concernabout the accounting personnel in the systems development project. Give persuasive arguments why prototyping would be helpful to the workers in the accounting department.
Discuss the differences between the revenue cycle activities and operations of a typical "brick and mortar" business as compared to an online business. In your response, do not use the same differences between data flow and system flowcharts
Is the following a potential control weakness? A computer network and personal computers support Marco accounting and inventory management systems. Personal computers are located in the offices and warehouse and a central server handles all accounting and inventory files. Printers are located in areas where employees need printed documents and other records routinely. The computer is used to control and process most transactions, to print documents, prepare accounting records, and prepare periodic financial statements. Marco uses commercial software recommended by their auditor. To date, they have had only the usual startup problems. They have used it for two years and have upgraded it once. Briefly explain the potential mistatement and recommended correction.