Discuss how conceptual and physical systems differ and which functions are responsible for each of these systems.

Q: What are the fundamental objectives of all information systems?

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Q: Discuss how the elements of efficiency, effectiveness, and flexibility are crucial to the design of…

A: Information system is a system which consists of some interrelated components which stores, edits…

Q: Explain common principles and limitations of internalcontrol.

A: Internal Control is a concept which ensures management to to safeguard its assets. Internet control…

Q: Discuss the differences between the attest function and assurance services.

A: Auditing is a gathering of information and evaluation of evidence as to report on the degree of…

Q: Explain the Activity Hierarchies with example?

A: Activity hierarchy is a system that is used in the activity based account to keep track on the…

Q: Explain how an IT environment affects the segregation of functions.

A: Segregation of Duties (SoD) is a set of controls and policies intended to ensure accuracy and keep…

Q: Explain the difference between external events and internal events. Give an example of each type of…

A: An Accounting event is a transaction that is recorded in the books of accounts of the company. There…

Q: What is meant by cardinality in entity relationship diagrams?

A: An entity relationship diagram is a representation of all the resources that are associated with the…

Q: What are the major functions performed by the OE/S process?  Explain each functions.

A: Order-to-cash process or revenue process is the process undertaken for making sales and receiving…

Q: What are the differences between a centralized and decentralized network?

A: Social Network- The term "social network" refers to internet-based networking with friends, family,…

Q: Discuss the diffences between internal and external users of ingormation and their needs and demands…

A: Accounting Information System (AIS):   The system which helps to gather, store and process the…

Q: Explain how directmaterials standards and directlabor standards are set

A: Cost Standards: Cost Standards are prepared to analyze the variances between the actual and the…

Q: How are the network and hierarchical models different?

A: Database Management:   Database management refers to management of databases held within an…

Q: Explain how an IT environment affects independent verification.

A: Bookkeeping articulations, particularly in enormous and complex associations, can contain unexpected…

Q: Differentiate the following terms - External and internal information

A: Internal data is information generated from within the business, covering areas such as operations,…

Q: What documentation techniques are used in the structured design approach to conceptual design? What…

A: The term documentation means collecting credential related to the system for the purpose of system…

Q: Distinguish between the centralized and distributed approaches to organizing the IT function.

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Q: Explain the issues of size, speed, workload, and transaction as they relate to scalability

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Q: Discuss how the different between conceptual system and physical system and which function are…

A: Accounting Information System:  AIS collects, records, stores and processes accounting and other…

Q: Can two different entities have the same defining attributes? Explain.

A: Entity in the context of database management implies anything regarding which data is required to be…

Q: Differentiate between general and application controls. Give two examples of each.

A: Internal Controls:   Internal controls are the controls established within an organization to check…

Q: Explain the differences between planning, directing, and controlling.

A: Planning: It means thinking in advance what to do, when to do and how the actions would take place…

Q: Explain the relationship between cardinality and association.

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Q: Describe recognition and measurement concepts.

A: Accounting concepts:   Accounting concepts are referred to the bask assumptions, principle and rules…

Q: Explain an example of internal events.

A: An Accounting event is a transaction that is recorded in the books of accounts of the company. There…

Q: What is the objective of output controls? List and briefly describe different output controls.

A: Output control guaranteed that the program's result was precise and complete. Output control focuses…

Q: What are the major functions performed by the OE/S process?  Explain each function.

A:

Q: Differentiate between fundamental and technical anomalies.

A: Market anomalies are exceptions to the hypothesis theory of market efficiency.

Q: what is the difference between internal and external users of information, their needs and demands…

A: Accounting Information System (AIS):   The system which helps to gather, store and process the…

Q: How are management’s actions incorporated in EVA and MVA? How are EVA and MVAinterconnected?

A: Economic added value (EVA) is a measured cash-deductible reduction of capital costs of a firm's…

Q: List the three parts of a control system, and explain how such a system works.

A: Variance: Variance refers to the difference level in the actual cost incurred and standard cost. The…

Q: Which of the following is related to science systems of maintaining account?

A: a) Single Entry System: A single entry system of accounting is a method of maintaining book keeping…

Q: Give example of the relationship between a Human Resource Information System and MIS.

A: Human Resource Information System (HRIS) refers to the system of collecting, recording, classifying,…

Q: What are two approaches to conceptual systems design?

A: Conceptual Design:   Conceptual design is that structure which provides various conceptual system…

Q: If an organization processes transactions that have independent (unique) data needs, what type of…

A: Definition: Transaction process system: The transaction process system helps a business to process…

Q: Define a management control system and identify the issues involved with the design of a successful…

A: Management:   It is a set of activities likes planning, organizing, controlling the human resources…

Q: What is the purpose of a systems analysis, and what type of information should be included in the…

A: Definition:   System analysis: System analysis is a course of action to gather the information…

Q: Answer of the following question related to these characteristics and constraints. When there is…

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: Explain how the formalization of tasks promotes internal control.

A: Internal Control: Internal control involves the norms and standards followed by a company to…

Q: Discuss both internal and external factors affecting the ITP systems.

A: Internal Factors:1)Internal Social EnvironmentProblems with transfer pricing exist only inside a…

Q: Distinguish between conceptual and physical systems.

A: Accounting Information System: The system which helps to gather, store and process the accounting…