Chapter 1 Accounting Information Systems and the Accountant True-False Questions 1. The acronym AIS stands for “Accounting Information Standards.” 2. Accounting information systems must be computerized to be effective. 3. It is best to view an AIS as an accounting system that must be computerized. 4. AISs often create information that is useful to non-accountants. 5. In order to be useful, raw accounting data must be processed by a computer. 6. The path that data follow in an AIS, for example from manual source document to completed output report, is called an audit trail. 7. A company's audit trail is normally easier to follow under a manual data processing system compared to a computerized information processing system. 8. …show more content…
37. As used in Chapter 1, a dashboard is an up-to-the-minute graphic depiction of one or more business activities. 38. The purpose of the assurance services of an accounting firm is to give a company’s managers moral support when they are audited by the federal or state government. 39. The purpose of CPA Trust Services is to provide assurance that a company engaged in electronic commerce can provide the goods or services it promises. 40. An example of a value-added reseller (VAR) is a computer dealer that adds software to the hardware it sells. 41. Some possible career opportunities for AIS majors or minors include consulting positions, computerized auditing, or system computer auditing positions. 42. Accountants are usually classified as “line workers” within business organizations. 43. Today's AIS is an enterprise-wide information system that focuses on interdepartmental business processes. 44. Managerial accounting principally provides decision making information to a company's internal managers. 45. As a result of computerized information processing systems in many organizations today, the need for accountants in these organizations has significantly declined. 46. Activity-based costing systems focus on allocating overhead on the basis of direct labor hours used. 47. Because accountants are not normally computer programmers working within the information processing subsystem, it is unnecessary for them to understand the capabilities and
In order to conduct these services, we at AWO have certain requirements that need to be met in order to conduct a successful audit and assurance service. Our company requires that our auditors be given access to all functions of the company from the financial statements, internal control systems, compliance guides, and etc. We also require that our auditors be able to function in an environment that they are free from outside influence, which means their work is not to be disrupted. The last requirement that we ask for is access to managers, directors, and other personnel that have access to the secured information. This will allow us to conduct an audit that will guarantee a high level of assurance, and provide the company with confidence in its business functions. We look forward in working with you.
ii – An audit trail contains relevant details within source documents. It provides step-by-step transactional data from a source document to the final financial report. The audit trail can act as evidence to any investors of how accurate information on a financial statement is, by providing proof of proper record keeping by an accountant within a
In more cases than one a photo can speak louder than words. This why photos are constantly used in magazine articles, bulletin boards and posters. I picture is more likely to catch a person 's attention rather than a piece of writing. A person is also more likely to remember a photo they have seen rather than a piece in writing. These photos are also commonly used when it comes to rhetoric and a person can I rhetorically analyze why the specific photo was used and how it was used. In this sense a person can identify why the picture is appealing to the audience and who the audience is. According to Owl Purdue.com,”A visual document communicates primarily through images or the interaction of image and text. Just as writers choose their words of such visual documents think no differently,” (Page 1). An example of these rhetorical analysis photos is the 2015 Baltimore Riots Time magazine cover. This photo was taken by a 26 year old photographer named Devin Allen from west Baltimore. He had been photographing models and had tried his hand at street photography, he drew his inspiration from photographers such as Gordon Parks and artists like Andy Warhol. Once protest took over his city in the aftermath of Freddie Gray’s death, the young photographer took to Instagram and found himself propelled on the global stage. His photographs of the demonstrations grabbed the headlines they were featured on the BBC and CNN, and shared by thousands of twitter and Instagram users. The picture
Jazz music can be likened to a progressive work of art. Throughout its history, Jazz music theory and techniques are continuously advancing and reforming as musicians pursue their interests by seeking new methods of expression. Jazz evolution is perpetual, and can take the form of incorporation of new techniques, adoption of more intricate harmonies and rhythms, or establishment of more elaborate melodies (Gioia). The early 1940s saw an increase in the number of Jazz modernists. As swing music declined in popularity due to various effects of the Second World War, Jazz branched into two very contrasting musical styles. The first of these new and unique styles of Jazz, called Bebop emerged in the 1940s, and was the product of numerous jam sessions in back rooms and after-hours clubs. The movement that unfolded in the later 1940’s and 50’s, called Cool (sometimes referred to as West Coast Jazz) came as a response to Bebop’s later demise. Even though Bebop and Cool stemmed from the big band music of the swing era, their differences are apparent. From its conception, to its musicians, to its audiences, Bebop and Cool came into the Jazz timeline for different reasons. Nevertheless the two musical movements ultimately left a long-lasting and distinctive influence on Jazz music, which is still manifested in Jazz music today.
Accounting has become a more interesting and attractive position among the millennials due to the high demand in the industry after the Enron fraud scheme in the early 2000’s. It has also become a more interesting field due to the how the profession’s involvement and characteristics have changed since the incident as well. Accountants used to be known to be bean counters, characterised to be introverts, simply keeping track of companies’ financials. In recent years, there has been a shift from profession in which accountants
When computers made their way into accounting, certain workers were not necessary anymore. However, the advent of computers also created new positions. The companies needed people who knew how to both operate the computers, and repair them if something went wrong. The problem of course was that early on, few people knew how to operate these computers, since the technology was still new.
Information systems changed forever the way accounting tasks are processed. The days of green paper pads are gone, and instead businesses have a centralized place where all accounting transactions are entered and saved. No more looking for paper
God created humans in his image, with his law embedded in our hearts. Therefore humans are the Image of God, and must live life according to his plans and purposes. His law was created for the wellbeing, peace and harmony of mankind. Living in his Image is very important; this would help each other to have a better life by not doing sinful acts like lying and stealing from each other. In the profession of Accounting living in an the Image of God allows me to provide an honest services, by providing financial reliable information for clients that then will make important decisions based on the information provided.
Using computer-based accounting systems does have its disadvantages, such as certain laws pertaining to confidentiality, the requirement to protect against the loss of data through power failures, the
Advances in IT that allow transactions to be captured immediately, accountants and even the AIS itself can produce financial statements almost in real-time. Interactive data allows for information to be reused and carried seamlessly among a variety of applications or reports.
II. Main Point #2. Contrary to popular belief, Accountants, and the tasks that they perform, are an important part of most people’s everyday life.
Assurance services improving information 's for informed decision making. It provided by certified public accountants (CPAs) or another external auditor.
Accountants must have a good deal of experience working with computers. They develop computer applications to assist the analysis and presentation of their findings. Due to the e-commerce explosion, a majority of financial records are now web-related.
This report will shed light on above mentioned concerns and we will see later that future of accountants is not really in danger. Accountants are normally mistaken with accounts preparation on regular basis. Although they are specialized in doing that particular task but it does not mean that this is the only task they perform as the ultimate purpose is to provide reliable information to the management for critical
Accountants and auditors help to ensure that firms are run efficiently, public records kept accurately, and taxes paid properly and on time. Accountants analyze and communicate financial information for various entities such as companies, individual clients, and Federal, State, and local governments. The provide accurate information to clients by preparing, analyzing, and verifying financial documents, budget analysis, financial and investment planning, information technology consulting, and limited legal services. They analyze and communicate financial information for various entities such as companies, individual clients, and Federal, State, and local governments (Bureau of Labor Statistics).