TION 4 Budgetary control system facilitates centralized control with: None of the above Decentralized activity Both a) and b) Centralized activity
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- 21 Internal Control goes beyond accounting function and incorporates both accounting and administrative control. From the following alternatives identify which one is not a part of administrative control? a. Self-balancing ledger b. Motion Studies c. Quality control d. Time studiesRequired: a. Create a document flowchart of the existing system. b. Analyze the internal control weaknesses in the system. Model your response according to the six categories of physical control activities specified in SAS 78. 1.Transaction Authorization 2.Segregation of Duties 3.Supervision 4.Accounting Records 5.Access Control 6.Independent Verificationc. Analyze the phrysical internal control weaknewesin the systemd. (Optional) Prepare a system Mowchart of a rode-signed computer- based system that resolves thecontrol acakneses that you identified._ Explainyour solution.
- ACC 622 Chapter 3 Problem 12 a. Using the COSO internal control model for control activities (e.g, transaction authorization, segregation of duties) identify anypotential internal control weakness in the NSC system. b. For each weakness discuss potentila for fraud in the system. c. Make recommendations for correcting each identified control weakness.question 1.a. Explain one of the principles of Internal Control Activities. 1.b. Explain three limitations of Internal Control.What category of control procedures best describes a reconciliation account, such as Accounts Payable? 1)Group of answer choices 2)Detective 3)Application 4)Systems 5)Preventive
- What are the differences among a pervasive control plan, a business process control plan, an application control plan, and an IT control process?Match the concept in List 1 with the definition or description in List 2. There is only one correct or best answer for each match. Therefore, you should have three letters left over from List 1. List 1Terms A. Pervasive control plan B. Preventive control C. Application control D. Control environment E. Control goals F. Risk G. Data maintenance update (of master data) H. Information processing update (of master data) List 2Definitions/Descriptions _____ 1. The process of modifying a master data stores standing data. _____ 2. An automated control that is contained within an IT application system. _____ 3. A potential event that may cause an organization to fail to meet its objectives. _____ 4. Objectives to be achieved by the internal control system. _____ 5. A control that addresses a multitude of goals across many business processes.1. Explain the term internal controls. 2. Explain two (2) major objectives of a system of internal control. 3.Explain briefly SIX (6) major categories of internal control.
- Accounting Information Systems | 11th Edition Chapter 7, Problem 3P Following is a list of eight generic control goals from the chapter, followed by eight descriptions of either process failures (i.e., control goals not met) or instances of successful control plans (i.e., plans that helped to achieve control goals). List the numbers 1 through 8 on a solution sheet. Each number represents one of the described situations. Next to each number: Place the capital letter of the control goal that best matches the situation described. Provide a one- or two-sentence explanation of how the situation relates to the control goal you selected. If you select more than one control goal for a situation, provide an explanation for each that you select. Hint: Some letters may be used more than once. Conversely, some letters may not apply at all. Control Goals Ensure effectiveness of operations Ensure efficient employment of resources Ensure security of resources Ensure input validity…Which statement best describes the issue of distributed data processing (DDP)?a. The centralized and DDP approaches are mutually exclusive; an organization must choose one approach or the other.b. The philosophy and objective of the organization’s management will determine the extent of DDP in the firm.c. In a minimum DDP arrangement, only data input and output are distributed, leaving the tasks of data control, data conversion, database management, and data processing to be cen- trally managed.d. The greatest disadvantage of a totally distributed environment is that the distributed infor- mation processing unit locations are unable to communicate and coordinate their activities.e. Although hardware (such as computers, database storage, and input/output terminals) can be effectively distributed, the systems development and maintenance tasks must remain centralized for better control and efficiency.AIS James Hall 10th edition chapter 5. What is the answer for internal control cases number 5 the Generators R US (centralized system with distributed terminals)?
