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…
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- Discuss the significance of accounting systems in generating reliable accounting information andunderstand the five components of internal control.Give me a conclusion paragraph about the impact of AI in AccountingWhat are the benefits of a computerized accounting system as compared to a manual based accounting system? What is the 13thperiod in MYOB?
- Identify two specific IT-related risks in computerized accounting information systems. Propose a strategy that might be implemented to mitigate or eliminate each selected risk. Be sure to effectively support your rationale.two methods of acquiring accounting information sysytem, and list there disdvantages and advantagesExplain the three basic components of an accounting information system?