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ACC 542 All Assignments (100% Score)

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ACC 542 Week 1 Organizational Report to Stakeholders Case Study 1-22, p. 29 ACC 542 Week 2 Case Study Stingy Upstate University Case Study 5-27 ACC 542 Week 3 Ian’s Place Case Study 7-20 ACC 542 Week 4 Mar-Bal’s New ERP System ACC 542 Week 5 Case Study 13-19 West End Boutique Analysis ACC 542 Week 6 Case Study Tiffany Martin ACC 542 Week 3 Quiz -----------------------------------------------------

ACC 542 Week 1 Organizational Report to Stakeholders Case Study 1-22, p. 29

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ACC 542 Week 1 Organizational Report to Stakeholders Case Study 1-22, p. 29 1. The mission of the US Securities and Exchange Commission (SEC) is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. Identify several ways that the SEC accomplishes its mission.

2. The goal of preparing an annual report is to communicate information from a company to its targeted users. (a) Identify and discuss the basic factors of communication that must be considered in the presentation of this information.(b) Discuss the communication problems a company faces in preparing the annual report due to the diversity of the users being addressed. 3. Select two types of information found in an annual report, other than the financial statements and accompanying footnotes, and describe how they are useful to the users of annual reports.

4. Discuss at least two advantages and two disadvantages of stating well-defined corporate strategies in the annual report.


5. Evaluate the effectiveness of annual reports in fulfilling the information needs of the following current and potential users:

6. Annual reports are public and accessible to anyone, including competitors. Discuss how this affects decisions about what information should be provided in annual reports. -----------------------------------------------------

ACC 542 Week 2 Case Study Stingy Upstate University Case Study 5-27

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5-27. Stingy Upstate University (Process Maps, Decision Tables, and Decision Trees) The approval rules for reimbursing those faculty members at Upstate University who attend professional conferences are somewhat complicated, and in the opinion of most, “hardly generous.� For example, the maximum allowed for breakfast, lunch, or dinner is $8, $10, and $12, respectively. In addition, no reimbursements are made for breakfast if the traveler leaves home after 10 a.m., for lunch if the traveler leaves home after 2 p.m., or


for dinner if the traveler leaves home after 8 p.m. Finally, no reimbursements are made for “business lunches� or similar meals if their costs are included as part of the conference registration fee. When Upstate University faculty file for travel reimbursements, they must file a form that requests the time they left home and the time they left the hotel to return home. They must also provide a copy of their conference registration receipt, showing what meals were included in the program. Requirements 1. 1. Develop a process map that displays the logic for deciding whether or not a given meal should be reimbursed. 2. 2. Develop a decision table for these same reimbursement rules. 3. 3. Develop a decision tree for these same reimbursement rules. 4. 4. Which documentation method do you most prefer and why? 5. 5. Marsha Tightfist (“the travel Nazi�) approves or denies travel reimbursements at Upstate University. She gets paid $50,000 a year, reviews all requests for travel reimbursements, and denies those that violate these rules. What calculations would you make to determine whether or not her salary is money well spent? -----------------------------------------------------

ACC 542 Week 3 Ian’s Place Case Study 7-20


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Ian's place sells pet supplies to dog and cat owners. To sell its products, the marketing department requires sales personnel to call on the pet store retailers within their assigned geographic territories. Salespeople have an application on their mobile phones that allows them to record sales orders and send these sales orders directly to the company network for updating the company's sales order file. Each day, warehouse personnel review the current sales orders in its file, and where possible, pick the goods and ready them for shipment. (Ian's Place ships goods via common carrier, and shipping terms are generally FOB from the shipping point.) When the shipping department completes a shipment, it also notifies the billing department, which then prepares an invoice for the customer. Payment terms vary by customer, but most are "net 30." When the billing department receives a payment, the billing clerk credits the customer's account and records the cash received.

Requirements 1. Identify the resources, events, and agents involved in the revenue process at Ian's Place. 2. Develop an E-R diagram for this process.


3. Design the tables for this revenue process. Note that you will need tables for each resource, event, and agent, as well as tables for each many-to-many relationship. -----------------------------------------------------

ACC 542 Week 3 Quiz (100% Score)

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Question 1 Employee numbers have all numeric characters. To prevent the input of alphabetic characters, what technique should be used? Question 2 A bank wants to reject erroneous checking account numbers to avoid invalid input. Management of the bank was told that there is a method that involves adding another number at the end of the account numbers and subjecting the other numbers to an algorithm to compare with the extra numbers. What technique is this? Question 3 First Federal S&L has an online real-time system, with terminals installed in all of its branches. This system will not accept a customer’s cash withdrawal instructions in excess of $1,000 without the use of a "terminal audit key." After the


transaction is authorized by a supervisor, the bank teller then processes the transaction with the audit key. This control can be strengthened by Question 4 Which of the following is a computer test made to ascertain whether a given characteristic belongs to the group? Question 5 A brokerage firm has changed a program so as to permit higher transaction volumes. After proper testing of the change, the revised programs were authorized and copied to the production library. This practice is an example of Question 6 In a daily computer run to update checking account balances and print out basic details on any customer’s account that was overdrawn, the overdrawn account of the computer programmer was never printed. Which of the following control procedures would have been most effective in detecting this fraud? Question 7 In updating a computerized accounts receivable file, which one of the following would be used as a batch control to verify the accuracy of the total credit posting? Question 8 A computer input control is designed to ensure that Question 9 Which of the following is a critical success factor in data mining a large data store? Question 10 Which of the following items would be most critical to include in a systems specification document for a financial report? Question 11 ABC, Inc. assessed overall risks of MIS systems projects on two standard criteria: technology used and design structure. The following systems projects have been assessed on


these risk criteria. Which of the following projects holds the highest risk to ABC? Question 12 In which of the following phases of computer system development would training occur? Question 13 Which of the following structures refers to the collection of data for all vendors in a relational data base? Question 14 Which of the following is a primary function of a database management system? Question 15 Which of the following is not true? Relational databases Question 16 Which of the following terms best describes a payroll system? Question 17 Most client/server applications operate on a threetiered architecture consisting of which of the following layers? Question 18 A data warehouse in an example of Question 19 Which of the following is considered an application input control? Question 20 An accounts payable clerk is accused of making unauthorized changes to previous payments to a vendor. Proof could be uncovered in which of the following places? Question 21 An employee mistakenly enters April 31 in the date field. Which of the following programmed edit checks offers the best solution for detecting this error? Question 22 Which of the following input controls would prevent an incorrect state abbreviation from being accepted as legitimate data?


Question 23 Which of the following controls would assist in detecting an error when the data input clerk records a sales invoice as $12.99 when the actual amount is $122.99? Question 24 A validation check used to determine if a quantity ordered field contains only numbers is an example of a (n) Question 25 An input clerk enters a person’s employee number. The computer responds with a message that reads “Employee number that you entered is NOT assigned to an active employee. Please reenter.” What technique is the computer using? -----------------------------------------------------

ACC 542 Week 4 Mar-Bal’s New ERP System

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12-22. Mar-Bal's New ERP System (Analyzing an ERP Study and Implementation) Access the full case story of Mar-Bal Company (the AIS-at-Work for this chapter) at www.iqms.com. Then, respond to each of the following requirements: Requirements


1. Review the items in Figure 12-10, which lists indicators that a company may need a new or upgraded processing system. For each item, provide a specific example from the case description. If the case does not address a particular item or it does not seem to apply, simply state "NA." 2. Review the items listed in Figure 12-9, which lists possible measures of the value of an ERP. For each item, provide a specific example from the case description. If the case does not address a particular item or it does not seem to apply, simply state "NA." 3. What are some of the intangible benefits Mar-Bal appears to enjoy from its new ERP system? Create a list with brief explanations. 4. Mal-Bar's case does not explicitly address the issue of business process engineering (BPR) that often happens when organizations install new ERP systems. Would you guess that none took place, or would you argue the opposite? Defend your answer. -----------------------------------------------------

ACC 542 Week 5 Case Study 13-19 West End Boutique Analysis

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ACC 542 Week 5 Case Study 13-19 West End Boutique Analysis West End Boutiques The West End Boutiques company was founded by Libbie Williams in 1990 with a single store in College Station, Texas, and the company now has 21 shops located in the triangle of Dallas, San Antonio, and Austin, Texas. Libbie was an accounting major in college, passed the entire CPA exam in her first attempt with high scores, and worked for one of the large CPA firms for 11 years prior to opening her first store. Based on her work experience, she fully understands the value of strong internal controls. Further, she recently selected a state-of-the art accounting system that connects all of her stores' financial transactions and reports. Libbie employs two internal auditors who monitor internal controls and also search for ways to improve operational effectiveness. As part of the monitoring process, the internal auditors take turns conducting periodic reviews of the accounting records. For instance, the company takes a physical inventory at all stores once each year and an internal auditor oversees the process. Chris Domain, the most senior internal auditor, just completed a review of the accounting records and discovered several items of concern. These were: • Physical inventory counts varied from inventory book amounts by more than 6% at two of the stores. In both cases, physical inventory was lower.


• Two of the stores seem to have an unusually high amount of sales returns for cash. • In 9 of the stores, gross profit has dropped significantly from the same time last year. • At 4 of the stores, bank deposit slips did not match cash receipts. • One of the stores had an unusual number of bounced checks. It appeared that the same employee was responsible for approving each of the bounced checks. • In 7 of the stores, the amount of petty cash on hand did not correspond to the amount in the petty cash account. Requirements 1. For each of these concerns, identify a risk that may have created the problem. 2. Recommend an internal control procedure to prevent the problem in the future. -----------------------------------------------------

ACC 542 Week 6 Case Study Tiffany Martin

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14- 16. Tiffany Martin, CPA ( Information Technology Audit Skills) Tiffany Martin is an audit manager in a medium- sized public accounting firm. Tiffany graduated from college seven years ago with a degree in accounting. She obtained her CPA certification soon after she joined the firm where she currently works. Tiffany is a financial auditor; she has had little training in auditing computerized information systems. The current engagement Tiffany is working on includes a complex information process-ing system with multiple applications. The financial accounting transactions are processed on server. The IT department employs 25 personnel, including programmers, systems analysts, a database administrator, computer operators, technical support personnel, and a director. Tiffany has not spoken with anyone in the department because she is fearful that her lack of technical knowledge relative to IT will cause some concern with the client. Because Tiffany does not understand the complexities of the computer processing environment, she is unable to determine what risks might result from the computerized system’s operations. She is particularly worried about unauthorized changes to programs and data that would affect the reliability of the financial statements. Tiffany has spoken to Dick Stanton, the partner who has responsibility for this audit client, about her concerns. Dick has suggested that Tiffany conduct more substantive testing than she would undertake in a less complex processing environment. This additional testing will hopefully ensure that there are no errors or


fraud associated with the computer processing of the financial statements. Requirements: 1. Do you think that Dick Stanton’s suggested approach is the most efficient way to control risks associated with complex computer environments? 2. How should Tiffany respond to Dick’s suggestion? 3. What can a public accounting firm, such as the one in which Tiffany works, do to ensure that audits of computerized accounting information systems are conducted efficiently and effectively? 4. Should Tiffany be allowed to conduct this audit given her limited level of skills? How might she acquire new skills?

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Acc 542  

For more course tutorials visit uophelp.com is now newtonhelp.com www.newtonhelp.com ACC 542 Week 1 Organizational Report to Stakeholders...

Acc 542  

For more course tutorials visit uophelp.com is now newtonhelp.com www.newtonhelp.com ACC 542 Week 1 Organizational Report to Stakeholders...

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