Identify risks for accounting systems that rely heavily on IT functions.

Q: What are the different types of accounting software? Explain.

A: Bookkeeping programming is employed information regarding utility product is basic to the suitable…

Q: Define the term Enterprise Risk Management.

A: Enterprise Risk Management (ERM) is a business plan designed to recognize, evaluate, and organize…

Q: Describe accounting's internal function in organisations.

A: Introduction: Accounting is transmitting financial data to users such as investors, individuals, and…

Q: Explain how general controls impact transaction integrity and the financial reporting process.

A:

Q: How does concurrency control contribute to financial data integrity?

A: Concurrency Control:   Concurrency control is a system in the database management system that helps…

Q: What is forensic accounting? How Accounting Information System is used to achieve this?

A: Forensic accounting is investigation over financial statements, accounting records, and other notes…

Q: Relationship between IT Control and Financial reporting

A: Information Technology (IT) control can be defined as the specific activities that are performed by…

Q: hich of the following is not a function of an Accounting information system? Select one: a. The…

A: solution concept accounting information system               accounting information system is a…

Q: Define enterprise risk management.

A: It is basically a strategy that helps businesses to find out the potential various type of risks…

Q: An introduction to what are the most effective internal control systems or techniques available for…

A: Introduction to Internal control system: The internal control system consists of procedures and…

Q: Why is accounting technology important?

A: Accounting Technology:- Information technology plays a significant role in the accounting field. It…

Q: What are the benefits of a computerized accounting system as compared to a manual based accounting…

A: Hi student Since there are multiple questions, we will answer only first question. If you want…

Q: how cloud accounting functioning in accounting department?

A: Cloud applications make use of encrypted connections when transferring data. This means that the…

Q: Explain whether the cost of accounting systems primarily support internal or external reporting

A: Cost Accounting System: Cost accounting system can be defined as a framework designed by the…

Q: "In management accounting, the timeliness of information is more essential than the accuracy of…

A: Introduction: Management accounting is the process of identifying, quantifying, analyzing, and…

Q: What are the fundamental concepts of Accounting Information Systems (AIS)? What are the main stages…

A: Introduction: Because you asked numerous questions, we will answer the first one for you. If you…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: External users of accounting information are those persons which are external to the organisation…

Q: Compare consulting and assurance services.

A: Consulting is classified as the practice of giving insight on a subject to a third party for a fee.…

Q: Discuss about the accounting policies, selection, relevance, reliability, faithful representation…

A: Accounting policies are specific principle procedures and measures that are used to record,…

Q: Accounting independence in accounting information system is important. Discuss using examples.

A: Accounting Information System:  A system which collects, stores and gathers information about…

Q: How does a database lockout contribute to financial data integrity?

A: Definition: Database management: Database management refers to the management of databases held…

Q: What are the things that need improvement in Xero Accounting Software?

A: Xero is an accounting software. By using of this software it help business to record business…

Q: Are computerized accounting systems different than manual accounting systems? How are these…

A: Computerized accounting system refers to the the use of computer software/system for recording the…

Q: What are computerized accounting systems?

A: Computerized Accounting System: In the traditional approach, accounting is done as per a manual…

Q: Reccomendation

A: Ans. The major environmental factors that effects accounting system are : i. The economic…

Q: What is the basic principles of Accounting Information Systems (AIS)?

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Discuss the significance of accounting systems in generating reliable accounting information…

A: Information systems are very important for the generation of quality accounting information on a…

Q: What can be done by a business to mitigate: Execution risk Technology risk Reputation risk…

A: Risk management  Risk management is the identification, evaluation, and prioritization of risks…

Q: Explain how an IT environment affects the firm’s obligation to maintain adequate accounting records.

A: Solution- The IT  Software helps to record even the complex transactions with accurate calculations…

Q: Accounting System Components

A: Accounting Information System is a computer based accounting system that collect, process, store and…

Q: Briefly distinguish between management and financialaccounting information in terms of ( a ) the…

A: Financial accounting: Financial accounting is different from managerial accounting. Financial…

Q: s that influence the adoption of computarised ac

A: Using computerized accounting systems, you may set up revenue and expenditure accounts for things…

Q: What aspects of accounting are being influenced by information technology? Explain

A: Introduction: Computers and accounting software are used in computerized accounting to record,…

Q: describe the use of the results of the accounting process in security analysis.

A: Financial statements provide the basis for equity and credit analysis. However, analysts must make…

Q: pros and cons of both computerized and manual accounting systems.

A:

Q: Which employability skill equips an individual to analyze complicated financial data and presentit…

A: Employability skills are the those skills which required by a employer for a certain type of jobs.…

Q: Explain any five risk that may arise while using IT based accounting system.

A: Accounting system is defined as the system which is used for managing the expenses, income as well…

Q: What is better: adopting a manual accounting information system or a computerized accounting…

A: Manual accounting information system - These are the accounting system in which all the task of…

Computerized Accounting System

The Computerized Accounting System is generally a system of maintaining accounts using computers. In this method of accounting system, the accounting transactions are processed through the use of hardware and software to generate the reports such as journals, ledgers, trial balance, trading account, P/L accounts, balance and other reports.