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Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127

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BuyFindarrow_forward

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127
Textbook Problem

This chapter discusses both fraud and non-fraudulent losses in the AP/CD process. Describe any losses you have encountered in your personal bill paying process. Did you change any aspect of your bill paying process after the loss(es) you encountered?

Summary Introduction

To determine: The losses encountered by Person X in his online bill paying process.

Introduction:

Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.

Explanation

The following are the losses encountered by Person X in his online bill paying process:

  • Payment to the wrong recipient
  • Missing payments
  • Duplicate or multiple payments to the single recipient
  • Overdrawing the checking account

Checking the ...

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