QUESTION 2 Ravinash Limited is a manufacturing company going through significant growth. It has limited operational systems for sales, purchasing and payroll and an old in-house accounting system that cannot be developed. The company board believes that an accounting information system will help it compete more effectively but it is not familiar with the types of software involved. It has approached you for the following pieces of advice. Required (a) What is an accounting information system and explain how it might be different from a management information system (b) Outline and evaluate the key purposes of an accounting information system. (c) To what extent should the accounting information system be at the core of the

QUESTION 2 Ravinash Limited is a manufacturing company going through significant growth. It has limited operational systems for sales, purchasing and payroll and an old in-house accounting system that cannot be developed. The company board believes that an accounting information system will help it compete more effectively but it is not familiar with the types of software involved. It has approached you for the following pieces of advice. Required (a) What is an accounting information system and explain how it might be different from a management information system (b) Outline and evaluate the key purposes of an accounting information system. (c) To what extent should the accounting information system be at the core of the

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 28MC: Big data is mined ________. A. to find business trends B. to record transactions C. as an...

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After completing your first degree in accounting you have been employed by XYZ Company as an account officer. The Management of the company has tasked you to implement a computerized accounting system Explain the difference between a stand-alone package and an integrated package? Explain two advantaged and two disadvantages of an integrated package e) Before a new accounting package can be deployed, it needs to be configured. What does it mean to configure an accounting package? Explain the processes involved in the configuration of an accounting package.
As Elaine Black reflects on her meeting with Jim Saxton and Peter Greyton, she considers where the company has been and where it is heading, and ponders the current issues regarding Robatelli's accounting information systems and its ability to take and record sales. She is concerned about the limitations of the current accounting information system. Are internal controls strong enough? Would a new, integrated IT system yield improvements? As she contemplates the integration of the POS systems at the restaurant locations with the GL software at the home office, she wonders about the requirements for developing and implementing such a system, and how to best utilize the system to support Robatelli's plans for growth. Elaine realizes that her ability to address these issues will be critical not only to the success of the company, but also to her career. Briefly describe the differences in Robatelli's three order-entry systems (in-store, telephone, and Internet). For each method,…
As Elaine Black reflects on her meeting with Jim Saxton and Peter Greyton, she considers where the company has been and where it is heading, and ponders the current issues regarding Robatelli's accounting information systems and its ability to take and record sales. She is concerned about the limitations of the current accounting information system. Are internal controls strong enough? Would a new, integrated IT system yield improvements? As she contemplates the integration of the POS systems at the restaurant locations with the GL software at the home office, she wonders about the requirements for developing and implementing such a system, and how to best utilize the system to support Robatelli's plans for growth. Elaine realizes that her ability to address these issues will be critical not only to the success of the company but also to her career. Briefly describe the differences in Robatelli's three order-entry systems (in-store, telephone, and Internet). For each method,…
Which of the following statements regarding accounting information systems is false? Multiple Cholce Accounting Information systems cannot improve on a company's competitive edge. Accounting Information systems collect and process data from transactions and events, organize them Into reports, and communicate results to decislon makers. Accounting Information systems have five principles related to control, relevance, compatibility, flexibility, and cost-benefit. Accounting Information systems help users make more Informed decisions. Accounting Information systems have five components: source documents, Input devices, Information processors, Information storage, and output devices.
1. Which of the following statements is false? a.Subsidiary ledgers and special journals are only useful when a business doesn't have a large number of similar transactions. b.Even small companies use computerized accounting systems. c.Large companies often integrate their accounting system with their automated business systems. d.Most computerized accounting systems use principles from manual systems.
Which of the following statements is false? a. Most computerized accounting systems use principles from manual systems. b. Subsidiary ledgers and special journals are only useful when a business doesn’t have a large number of similar transactions. c. Even small companies use computerized accounting systems. d. Large companies often integrate their accounting system with their automated business systems.
Question 1: What Would Your Accountant Say? The chief executive officer of a business start-up wants the firm to acquire an accounting information system. In response to this request, the firm’s purchasing officer stated, “We should put out bids for an AIS and select the least expensive bid that comports with our existing hardware.” You are the chief accounting officer for the company and your strongly disagree with the purchasing officer's plan. Why?
Big data is mined ________. A. to find business trends B. to record transactions C. as an alternative to creating an accounting information system D. as an alternative to the darknet
Enter the letter of each system principle in the blank next to its best description. A. Control principle C. Compatibility principle E. Cost-benefit principle B. Relevance principle D. Flexibility principle 1. The accounting information system helps monitor activities. 2. The accounting information system conforms to the company’s business activities. 3. The accounting information system changes in response to technological advances and competitive pressures. 4. Affects all other accounting information system principles. 5. The accounting information system provides timely information for effective decision making.
What is the relationship between Accounting and an Accountinginformation system? • What has happened to the relationship over the years? • What is accounting information? • Name 4 uses of Accounting Information? • Use an example to illustrate the difference between data,information, and intelligence? • Discuss security concerns related to shadow data and businessintelligence technologies. • Discuss the role of accounting professionals in thedevelopment of shadow data. System Documentation • What is system documentation? • Why is it important to know system documentation? • Explain the 4 elements that makes up the Data Flow Diagrams? • Give an example of who or when one of these documents may berequired • What are Flowcharts? • List an example of an Input/output, processing and storage Symbols • Differentiate between different types of Flowchart? • If you were a new factory employee on your first day at a vastfactory, indicate which level Flowcharts would be required and •…
The operation manager of Marcoba Bhd is seeking your advice on his company's request for a computer software to be used in managing the sales of the company. He is unsure of how to obtain the computer software but realizes that different types of acquisition will impact the company's financial statement differently. He is considering the following possibilities: a) Making a purchase of the computer software externally. The quotation that he has received includes packages for payroll and general ledger. b) Making a purchase of a computer software that can be incorporated into a sales system that the company will develop. c) Signing a contract with independent programmers to develop a computer software that will specifically cater for Marcoba Bhd's own use d) Employing own programmers to write a computer software that the company will use. Required: Advice the operation manager on the impact of each possibility above on the company's financial statement
You are the newly appointed Records Manager of Transgenerational Thinkers International (GTI).After previewing the structure of the company you realized that it doesn’t have a proper database.Due to this hidden setback, the company always fails to meet its expected profit margin.Develop a comprehensive database to remedy this issue.The database should include;A. i) Customer table andii) Customer registration formB. Fill the table with 30 records.C. The fields of the table should be the same as the forms.Footnotes:D. Your table should include the following fields as headingsI) CustomerID ( eg. CID101, CID102, CID103…………….CID130) II) Surname III) OtherName IV) V) VI) VII) VIII) GenderProductID (eg. P01, P02……………P30)ProductNameProduct Photo (just type in product image)Contact IX) Location X) Date of registration XI) Email XII) Customer photo ( just type in customer image) 3E. Click on insert, select textbox to develop the form below, apply a fill colour for all the…