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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

“Overstating receivables will keep the bank from calling our loan. Although some may think it is fraud, no one is really hurt.” Why do you agree (or disagree) with this statement?

Summary Introduction

To explain: If Person X agrees or disagrees with the statement.

Introduction:

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

Explanation

The view of Person X:

This can be termed as a rationalization for many frauds. The reason for most of the loan covenants is to protect the bank. The general assumption here is that when the value falls below a certain level, the chances of the company repaying the bank becomes very slim...

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