me time. b. Enables the tracking of all transactions. Enterprise resource planning systems Identifies suspicious transactions or likely mistakes such as wrong account numbers or duplicate transactions. Audit trail Network-compatible Entry-level software Large-scale computer systems that integrate all aspects of the organization including accounting, sales, human resource management, and manufacturing. d. Internal control System for companies with revenues of less than $5 million and up to 20 employees.

me time. b. Enables the tracking of all transactions. Enterprise resource planning systems Identifies suspicious transactions or likely mistakes such as wrong account numbers or duplicate transactions. Audit trail Network-compatible Entry-level software Large-scale computer systems that integrate all aspects of the organization including accounting, sales, human resource management, and manufacturing. d. Internal control System for companies with revenues of less than $5 million and up to 20 employees.

Accounting Information Systems

10th Edition

ISBN:9781337619202

Author:Hall, James A.

Publisher:Hall, James A.

Chapter16: Auditing It Controls Part Iii: Systems Development, Program Changes, And Application Auditing

Section: Chapter Questions

Problem 5MCQ: Which of the following statements is NOT correct? a. EAMs capture transactions during processing...

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Similar questions

Which of the following is false about accounting information systems? A. They provide reports that people analyze. B. They prevent errors and stop employees from stealing inventory. C. They are designed to gather data about the companys transactions. D. They consist of processes that involve input of data from source documents, processing, output, and storage.
Which of the following statements is NOT correct? a. EAMs capture transactions during processing without removing the application from service. b. EAMs support continuous monitoring of controls. c. EAMs have the potential to corrupt corporate databases d. EAMs decrease operational performance. e. All of the above are correct statements.
Which of the following statements is most accurate? a. ERP systems are commercial software packages that are sometimes called turnkey systems because they can be implemented by the user with little or no modification. b. Substantive tests provide evidence focused on the system controls. c. Public accounting firms that provide attest services are not allowed under SOX to offer IT advisory services. d. Both small and large firms that have standardized information needs are potential customers for commercial software. e. External auditors may rely on the work of internal auditors only if they report to the controller or the CEO of the client company.
Match each word or phrase with the best description of it. Descriptions Words / Phrases related tocomputerized accounting systems a. Allows multiple users to access the system at the same time. Audit trailInternal controlNetwork-compatibleEnterprise resource planning systemsEntry-level software b. Enables the tracking of all transactions. Audit trailEnterprise resource planning systemsEntry-level softwareNetwork-compatibleInternal control c. Identifies suspicious transactions or likely mistakes such as wrong account numbers or duplicate transactions. Audit trailInternal controlEntry-level softwareEnterprise resource planning systemsNetwork-compatible d. Large-scale computer systems that integrate all aspects of the organization including accounting, sales, human resource…
Explain how internal control can be enhanced through the proper installation of Information Technology Identify the risks for accounting systems that rely heavily on IT functions. Distinguish between general controls and application controls and give examples at least five Which duties should be segregated in a computer department? Describe the typical duties of computer personnel. What aspects of documentation, file security and retention control procedures are unique to computer systems? What are the responsibilities of the database administrator (DBA) function? Compare the risks associated with network environment to those associated with centralized IT functions.
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.