Questions from Accounting Information Systems

Q: Figure 12-18 depicts the activities performed in the revenue cycle

Figure 12-18 depicts the activities performed in the revenue cycle by the Newton Hardware Company. (CPA Examination, adapted) a. Identify at least 7 weaknesses in Newton Hardware’s revenue cycle. Exp...

Q: The Family Support Center is a small charitable organization. It has

The Family Support Center is a small charitable organization. It has only four full-time employees: two staff, an accountant, and an office manager. The majority of its funding comes from two campaign...

Q: Use EXCEL’s regression tools to analyze and forecast future sales.

Use EXCEL’s regression tools to analyze and forecast future sales. (Hint: The article “Forecasting with Excel,” by James A. Weisel in the Februar...

Q: a. A purchasing agent orders materials from a supplier that he

a. A purchasing agent orders materials from a supplier that he partially owns. b. Receiving-dock personnel steal inventory and then claim the inventory was sent to the warehouse. c. An unordered suppl...

Q: Read section AI6 in version 4.1 of COBIT (available

Read section AI6 in version 4.1 of COBIT (available at www.isaca.org) and answer the following questions: 1. What is the purpose of each detailed control objective – why is it important? AI6.1 Chang...

Q: a. Read the article “Using Spreadsheets and Benford’s Law to

a. Read the article “Using Spreadsheets and Benford’s Law to Test Accounting Data,” by Mark G. Simkin in the ISACA Journal, Vol. 1, 2010, availabl...

Q: a. Expand the cash budget you created in Problem 12.

a. Expand the cash budget you created in Problem 12.4 to include a row for expected cash outflows equal to 77% of the current month’s sales. b. Also add a row to calculate the amount of cash that nee...

Q: For each of the following activities, identify the data that must

For each of the following activities, identify the data that must be entered by the employee performing that activity and list the appropriate data entry controls: a. Purchasing agent generating a pu...

Q: The following list identifies several important control features. For each control

The following list identifies several important control features. For each control, (1) describe its purpose and (2) explain how it could be best implemented in an integrated ERP system. a. Cancell...

Q: For good internal control, which of the following duties can be

For good internal control, which of the following duties can be performed by the same individual? 1. Approve purchase orders 2. Negotiate terms with suppliers 3. Reconcile the organization’s bank a...