Accounting Information Systems

10th Edition
Hall + 1 other
Publisher: Cengage Learning,
ISBN: 9781337619202



Accounting Information Systems

10th Edition
Hall + 1 other
Publisher: Cengage Learning,
ISBN: 9781337619202
Chapter 1, Problem 22RQ
Textbook Problem

Define the term financial services.

To determine

Explain the term financial services.

Explanation of Solution

Accounting Information System:

The system which helps to gather, store and process the accounting and financial information of a company is known as accounting information system. Internal users report the accounting data to external users for taking investing decision...

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Chapter 1 Solutions

Accounting Information Systems
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Ch. 1 - What are the fundamental objectives of all...Ch. 1 - What does stewardship mean, and what is its role...Ch. 1 - List five functional areas and their...Ch. 1 - Distinguish the roles of internal and external...Ch. 1 - What is the role of a database administrator?Ch. 1 - What is the role of the accounting function in an...Ch. 1 - Distinguish between the centralized and...Ch. 1 - What is distributed data processing?Ch. 1 - What is an ERP system?Ch. 1 - What two roles are played by accountants with...Ch. 1 - Define the term attest function.Ch. 1 - Define the term financial services.Ch. 1 - What is IT auditing?Ch. 1 - Distinguish between conceptual and physical...Ch. 1 - What is the role of the audit committee of the...Ch. 1 - Who initiates a fraud audit within the...Ch. 1 - When can external auditors rely on the work...Ch. 1 - Name the tests that auditors perform to gather...Ch. 1 - What characteristic conceptually distinguishes...Ch. 1 - What is the role of network administration?Ch. 1 - What is cloud computing?Ch. 1 - Name the two ways in which organizations acquire...Ch. 1 - Why are custom systems more expensive than...Ch. 1 - What types of companies are potential customers...Ch. 1 - Briefly explain accounting independence.Ch. 1 - Why do systems designers need to know anything...Ch. 1 - Discuss the differences between internal and...Ch. 1 - Comment on the level of detail necessary for...Ch. 1 - Distinguish between financial and nonfinancial...Ch. 1 - An information system must meet three fundamental...Ch. 1 - Do you think transaction processing Systems differ...Ch. 1 - Discuss the difference between the financial...Ch. 1 - Examine Figure 1-4 and discuss where and how...Ch. 1 - Discuss how the dements of efficiency,...Ch. 1 - Discuss what is meant by the statement, The...Ch. 1 - Discuss the importance of accounting independence...Ch. 1 - Discuss why it is crucial that internal auditors...Ch. 1 - Contrast centralized data processing with...Ch. 1 - Discuss how conceptual and physical systems differ...Ch. 1 - Why is an active board of directors audit...Ch. 1 - Do you agree with the statement. The term IT...Ch. 1 - Describe cloud computing and explain how it is...Ch. 1 - Why is it important to organizationally separate...Ch. 1 - What is an external financial audit, and what are...Ch. 1 - Why do firms outsource their IT functions? Explain...Ch. 1 - Which of the following is NOT a purpose of the...Ch. 1 - Which of the following are objectives of the data...Ch. 1 - Which of the following is NOT a database...Ch. 1 - Which of the following is NOT a financial...Ch. 1 - The following are subsystems of the accounting...Ch. 1 - Which of the following is NOT a characteristic of...Ch. 1 - When viewed from the highest to most elemental...Ch. 1 - Which of the following is least likely to be used...Ch. 1 - Which of the following is NOT an objective of all...Ch. 1 - Which of the following best describes the...Ch. 1 - Which of the following best describes the...Ch. 1 - Which of the following best describes the...Ch. 1 - Which statement best describes cloud computing? a....Ch. 1 - Which of the following statements is most...Ch. 1 - USERS OF INFORMATION Classify the following users...Ch. 1 - GENERAL MODEL FOR AIS Redraw the diagram presented...Ch. 1 - ACCOUNTING INFORMATION SYSTEM ACQUISITION What is...Ch. 1 - INFORMATION SYSTEM CATEGORIZATION Classify the...Ch. 1 - ORGANIZATION FUNCTIONS Based on Figure 1-6 in the...Ch. 1 - ORGANIZATION FUNCTIONS: DIVERSIFIED FIRM Based on...Ch. 1 - FUNCTIONAL SEGMENTATION The current organizational...Ch. 1 - COMMUNICATIONS Before the mid-1970s, systems...Ch. 1 - CHARACTERISTICS OF USEFUL INFORMATION All records...Ch. 1 - DATA ATTRIBUTES Drawing from your basic accounting...Ch. 1 - ROLE OF INTERNAL AUDIT FUNCTION Nano Circuits Inc....Ch. 1 - INTERNAL AUDITOR INDEPENDENCE Technical Solutions...

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