Explain any five risk that may arise while using IT based accounting system.

Q: What are the different types of accounting software? Explain.

A: Bookkeeping programming is employed information regarding utility product is basic to the suitable…

Q: Briefly Explain the 5 Fundamental Principles of an Accounting Information Systems Measurement…

A: Principles of an Accounting Information Systems: These are the set and standard which has to be…

Q: Define/explain following terms in your own words: 1). Compliance Audit 2). Difference between…

A: Introduction Compliance Audit 1) The aim of a compliance audit is to determine if the provisions of…

Q: Briefly describe the two major fields of accounting.

A: Accounting: Accounting is the process of recording, summarizing, and examining the business events…

Q: two methods of acquiring accounting information sysytem, and list there disdvantages and advantages

A: Accounting information systems is a system of collection, processing and storage of accounting and…

Q: Which of the following are considered secondary characteristics of accounting information? a.…

A: Accounting information is used by various users for different purposes. The primary characteristics…

Q: What are the five elements/components of Accounting Information System? Describe each

A: An accounting information system or framework (AIS) is a design that a business uses to gather,…

Q: s an information syste

A: Accounting Information Systems helps to perform the tasks in the job of Budget Analysis. An…

Q: a) Explain the many objectives of accounting.

A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If…

Q: What is the boarding understanding of 3As (accounts, accounting, accountability)?

A: Financial statement: It refers to the financial records of the business, of its activities performed…

Q: Explain the three principles guiding thedesign of management accounting systems.

A: Management accounting: It is the process of preparing the reports of a business operation helping…

Q: Explain the two components of a computerized accounting information system.

A: Computerized Accounting Information System:   Computerized accounting information are software…

Q: Which of the following are considered secondary characteristics of accounting information? a.…

A: Secondary Qualitative Characteristics of accounting information is how useful the information is.…

Q: differentiate internal user from external user of accounting information

A: Accounting is the detailed process of recording, classifying, summarising and reporting accounting…

Q: What are the benefits of a computerized accounting system as compared to a manual based accounting…

A: Hi student Since there are multiple questions, we will answer only first question. If you want…

Q: Explain the FOUR (4) qualities that the accounting information should have?

A: FASB & IASB developed a framework that states that accounting information should be relevant and…

Q: discuss the importance of accounting interdependence in accounting information systems.

A: An Accounting Information System is a system that is used  to collect, process, manage data with…

Q: What are the five fundamental principles of accounting information systems?

A: Accounting information systems collect data from different events and associated transactions across…

Q: 3. Discuss the significance of accounting systems in generating reliable accounting information and…

A: Information systems are very important for the generation of quality accounting information on a…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: External users of accounting information are those persons which are external to the organisation…

Q: Explain what is meant by the term management by exception (see, for example:…

A: Management by exception is referred to as a style of business management where the focus is on…

Q: Explain any three fundamental easons that accounting bodies shoulc ceep in mind when developing…

A: An accounting standard is a common set of principles, standards, and procedures that outline the…

Q: There are 3 basic principles in developing an accounting information system, t

A: Accounting information system: the accounting information system is a system created by a business…

Q: give example ofcativity based accounting and also write a memo

A: Activity-Based Accounting is a way of analyzing and then settling overhead costs by allocating the…

Q: Identify risks for accounting systems that rely heavily on IT functions.

A: Risk refers to the outcomes of uncertainties. It can be good if well planned and it can be worst…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: Internal users: Internal users of the financial statement are the inside individuals or the members…

Q: Identify each of the following terms/phrases as either an accounting (a) principle, (b)…

A: Accounting principle: These are the guidelines which are to be applied while preparing the…

Q: Which of the following options best describes TVU's accounting information system (AIS)? Select one:

A: The answer for the multiple choice question and relevant explanation are presented hereunder :…

Q: Discuss the significance of accounting systems in generating reliable accounting information…

A: Information systems are very important for the generation of quality accounting information on a…

Q: scuss in detail Five benefits and dra

A: Accounting : Accounting means to keep the records and prepared the financial statements to know…

Q: Distinguish between Accounting Information System (AIS) and Management Information System (MIS).

A: Accounting Information System means the system to record financial transactions of any business…

Q: Briefly Explain the 5 Fundamental Principles of an Accounting Information Systems

A: Five Basic Principles of Accounting Information Systems are: Control Relevance Compatibility…

Q: s that influence the adoption of computarised ac

A: Using computerized accounting systems, you may set up revenue and expenditure accounts for things…

Q: what is accounting information system (AIS)? List and discuss the three sub system of AIS  and…

A: Accounting Information System (AIS) is a one part(subset) of the Management Information System.

Q: What are five basic components of an accounting system?

A: Accounting information systems: Accounting information systems collects data from different events…

Q: What is an accounting information system (AIS)?

A: Accounting Information System:It is a process which collects data, processes the same into…

Q: Some guidelines should be followed while creating an accounting information system. Each of the…

A: The following concepts should be followed in the creation of Accounting information systems: The…

Q: pros and cons of both computerized and manual accounting systems.

A:

Q: For each of the following, indicate if the statement reflects an input component, output component,…

A: Accounting Information System:   It is a structural framework used by business to collect, store,…

Q: Recommend three controls of an accounting system

A: An accounting system is a set of accounting processes with linked procedures and controls. The goal…

Q: List three strategies of developing accounting information system. Explain any two (2) threats faced…

A: Planning, assessment, development, execution, and maintenance are the five main phases in creating…

Q: Identify two specific IT-related risks in computerized accounting information systems. Propose a…

A: Computerized accounting includes using the computers and accounting software for recording, storing…

Q: Answe these questions in relation to accounting packages systems

A: Here discuss about the details of the sage Pastel software for the Accounting and uses to kept…