In his first address as Chairman of the Board of the American Institute of Certified Public Accountants (AICPA), Robert K. Elliott said:
Knowledge leveraging will shape a wide range of CPA services. CPAs will be able to identify relevant information and its sources, perform modeling, devise and apply performance measures of all kinds, design systems to obtain needed information, advise on controls and security, and otherwise ensure relevance and reliability. CPAs will identify and deploy knowledge needed for strategic planning and investments, for
Write a paper (your professor will tell you how long the paper should be) to discuss ways in which this chapter agrees with this quote. Discuss any disagreements. Do you think that the CPA should be performing these services? Why or why not?
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Pkg Acc Infor Systems MS VISIO CD
- About three decades ago, in his first address as Chairman of the Board of the American Institute of Certified Public Accountants (AICPA), Robert K. Elliott said: Knowledge leveraging will shape a wide range of CPA services. CPAs will be able to identify relevant information anti its sources, perform modeling, devise and apply performance measures of all kinds, design systems to obtain needed information, advise on controls and security, and otherwise ensure relevance and reliability. CPAs will identify and deploy knowledge needed for strategic planning and investments, for marketing decisions, for monitoring internal and external conditions, for conducting daily operations, for maximizing the productivity of employee behavior, and for measuring the effectiveness of operations, personnel and processes. All this and more.13 Write a paper (your professor will tell you how long the paper should be) to discuss ways in which this chapter agrees with this quote. Discuss any disagreements. Do you think that the CPA should be performing these services? Why or why not? Do you think this quote continues to be relevant in todays environment?arrow_forwardYou have been working in the accounting department of AAA Limited since 2000. During this period, you have performed various roles, including: Evaluating the purpose and role of accounting information systems in achieving the overall objectives of the organisation, Articulating the various transaction cycles, financial reporting, management reporting systems and ecommerce systems to technical and non-technical stakeholders, Evaluating systems development methodologies and the role of accountants in system development projects, Appraising the risks inherent in computer-based systems/ERP, including the role of ethics and the various internal control processes that need to be in place, and Critically evaluating the range of cultural, security, privacy and ethical issues. Recently, you joined another company for a senior role as a chief information officer. You are excited to perform this senior role. David is the chief executive officer (CEO) of your organisation, and he is excited…arrow_forwardBusiness ethics is about managing ethics in an organizational context and involves applying principles and standards that guide behavior in business conduct. According to IFAC, “The decisions and behaviors of accountants should reinforce good governance and ethical practices, develop and promote an ethical culture, foster trust and transparency, bring credibility and value to decision making, and present a faithful picture of organizational health to stakeholders.” Explain how accountants and auditors can meet these expectations in a global environment and protect the public interest.arrow_forward
- Which of the following BEST (select one) explains why IT governance provides a starting point for the IT auditor? a) IT governance provides a means to communicate relevant policies to management and staff. b) IT governance is the responsibility of the board of directors and executive management. c) IT governance includes the tone at the top which influences the culture and overall acceptance of the IT audit process. d) IT governance focuses accountability at both management and staff during the employee evaluation process.arrow_forwardAccountants are counted on to provide management with analyzing data to determine best and worst-case scenarios. As future planning becomes more complex, these what-if analyses can increase in complexity and usefulness. Identify and discuss at least three types of what-if analyses that an accountant should be able to perform to measure a firm’s performance over a periodarrow_forwardAccounting educators are discussing ways to incorporate communication skills, both oral and written,into accounting information systems courses. Why do you think these skills are supposed to be crucial forproper execution of the System Development Life Cycle?arrow_forward
- 10. Which of the following correctly describes the support activities of the value chain? The firm infrastructure includes accountants in the auditing service line of an accounting firm. Technological development includes gathering technical knowledge, hardware and software necessary for the improved operations of the other activities in the value chain. The procurement activity focuses on undertaking supplier background checks and negotiating prices. The human resource department is solely in charge of the number of employees to hire and the pay which those employees will be receiving. 11. Aling Rosa is a sari-sari store owner. Along the street where she operates her store, there are three other stores offering similar products at similar prices. What should she do to allow her business to thrive in the next three to five years? Determine whether building good supplier relations will allow her to lower costs, and therefore provide lower prices. Determine whether selling hard-to-get…arrow_forwardWrite a post providing us with the context for the resources of adopting innovative technologies that can lead to streamlined processes, real-time insights, and increased focus on strategic planning technological advancements in the accounting and finance profession have required finance professionals to adapt and expand their skill sets. Those who can adapt can support business growth and discover better career opportunities selected by identifying the field of study of accounting and finance and specifying an associated profession if relevant.Explain in two separate sections how this could be applied to the criteria of validity checklist to determine the validity of each resource.arrow_forwardMany academic scholars believed that ‘Strategic information must be in balance with operational information about an enterprise. Thus the balanced scorecard is the most useful management accounting tool.’ Please critically discuss the above statement with reference to academic literature. In your discussion, you should also refer to Kaplan and norton BSC model (1992).arrow_forward
- Need assistance I am trying to get an example on how I would explain this to a group Explain some management accounting methods and how your report and the data it represents adhere to industry standards and the AICPA code of ethics.arrow_forwardIn the world of professional industries, when conducting operational activities, top management have to be careful and well-conceived consideration is required so that it can be delivered in accordance with applicable rules and codes of ethics, as well as the manner in which the activities carried out are in line with the vision and goals of the company. To achieve the company's objectives faster and continually improve company performance, top management must be able to develop a routcome-based management strategy by obtaining detailed information and insights to support the decision-making process. For the purpose of drafting a conceptual framework in the form of organizational strategy, the leader hopes to help minimize risks that are detrimental to the company's activities, which in this case certainly requires the assistance of various parties, especially internal auditors that will help stakeholders by ensuring how the internal monitoring and control processes have been working…arrow_forwardAssume that you are a management accountant in a local firm. Your firm is thinking of establishing ethical guidelines for management accounting and you are assigned a task to draft these guidelines. the main ethical aspects of Credibility in management accounting that your local firm should have as guidelines.arrow_forward
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