y .22. Write a max one page reflection on machine reasoning from an accounting , tax or audit viewpoint. Cover how you think this technology will change your chosen field. Make sure you cite at least 3 sources. (Must be credible).
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y .22.
Write a max one page reflection on machine reasoning from an accounting , tax or audit viewpoint.
Cover how you think this technology will change your chosen field.
Make sure you cite at least 3 sources. (Must be credible).
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- 1. Choose three of the following five technologies/techniques and explain why you think it is helpful in accounting analytics based on your lab experience in this course. Use some examples in your explanation. Limit your answer to 500 words in total. A. XBRL B. Tableau C. VLOOKUP function D. Pivot table E. Regression1.) Which of the following is true?a) An AIS must be computerized to be usefulb) An AIS always produces useful informationc) An AIS always produces financial informationd) none of these 2.) Which of the following is true about the terms “dataâ€and “information†within the context of Chapter 1?a) The terms are exactly the sameb) The terms are always exact oppositesc) Some “data†can also be “informationâ€d) none of these 3.) Most AISs perform all of these functions except:a) Collect raw accounting datab) Store accounting data for future usesc) Process data into useful informationd) AISs perform all of these functions 4.) Which of the following is one of the five interactingcomponents of an accounting information system?a) Fuzzy logicb) Testingc) Certificationd) Procedurese) Internet 5.) A computer network spanning regional, national, orglobal areas best describes which of the following?a) LANb) WANc) ESPNd) DSLe) ISDN 6.). Documentation includes:a) All flowcharts,…Indicate whether each of the following statements is true or false. 1. When designing an accounting system, you need to think about the needs and knowledge of both the top managers and various other users. TrueFalse 2. When the environment changes as a result of technological advances, increased competition, or government regulation, an accounting system does not have to be sufficiently flexible to meet the changes in order to save money. TrueFalse 3. In developing an accounting system, cost is relevant. The benefits obtained from the information disseminated must outweigh the cost of providing it. TrueFalse
- Answer the question correctly. Thank you. What do you believe to be the primary advantage that human accountants have over many accounting software programs that are in use today? Please answer in 2 paragraphs. Do not be redundant in answering.Your audit client, Beacon Ltd has proposed that your audit firm take up a consultancy project to evaluate several possible new accounting system, and provide advice on which system should be selected, as well as oversee the installation of the new system. Which of the following threats would be created if the consultancy project proposed by Beacon Ltd is accepted by your audit firm? Question 6 options: 1) Advocacy 2) Familiarity 3) Self-review 4) IntimidationAssume that the FASB is considering revising an important accounting standard.Required:1. What constraint applies to the FASB’s consideration of whether to require companies to provide new information?2. In what Concepts Statement is that constraint discussed?3. What are some of the possible costs that could result from a revision of an accounting standard?4. What does the FASB do in order to assess possible benefits and costs of a proposed revision of an accounting standard?
- Objectively answer the question below for a maximum of 3 sentences. What do you think is the greatest advantage of accounting professionals over those in other professions?Question 1: What Would Your Accountant Say? The chief executive officer of a business start-up wants the firm to acquire an accounting information system. In response to this request, the firm’s purchasing officer stated, “We should put out bids for an AIS and select the least expensive bid that comports with our existing hardware.” You are the chief accounting officer for the company and your strongly disagree with the purchasing officer's plan. Why?119-Mr. Abdullah is an auditor in XYZ LLC. His job is to see the correctness of financial statements and to give suggestions. He came to know that his company is entering into a new product line, so he started discussing about it on various places and about its projection in the future. In this situation there is a chance of a. Advocacy threat b. Familiarity threat c. Self review threat d. None of the options
- 1. For a discipline to become a science, the results of experiments and research must be exact." Do you agree with this statement? Discuss. 2. Why, in practical terms, is it impossible to separate deductive and inductive approaches to theoretical reasoning? 3. What is the relationship among scientific method, accounting research, and accounting policy making? 4. What are the two principal underlying assumptions of agency theory (positive accounting research)? Criticize their role in constructing a theory of accounting.Match each of the principles and phases in the development of an accounting system with the statement that best describes them. 1. Information must be understandable, relevant, reliable, timely, and accurate. FlexibilityCost effectivenessUseful output 2. Benefits of information must outweigh the cost of providing it. Cost effectivenessUseful outputFlexibility 3. The system should accommodate a variety of users and changing information needs. Cost effectivenessFlexibilityUseful output 4. The accounting system must consider the needs and knowledge of various users. FlexibilityCost effectivenessUseful output 5. The system should be capable of meeting the changes in the demands made upon it.…Match the qualitative characteristics below with the following statements. 1. Timeliness 2. Completeness 3. Free from error 4. Understandability 5. Faithful representation 6. Relevance 7. Neutrality 8. Confirmatory value a. Quality of information that assures users that information represents the economic phenomena that it purports to represent. b. Information about an economic phenomenon that corrects past or present expectations based on previous evaluations. c. The extent to which information is accurate in representing the economic substance of a transaction. d. Includes all the information that is necessary for a faithful representation of the economic phenomena that it purports to represent. e. Quality of information that allows users to comprehend its meaning.
