Forensic Accounting and Information Systems Practice Exam
Course Introduction
This course explores the intersection of forensic accounting and information systems, emphasizing the detection, investigation, and prevention of financial fraud in the digital age. Students will learn the principles and methodologies of forensic accounting, including evidence gathering, financial analysis, and fraud risk assessment. The course also examines the critical role of information systems in both facilitating and combating financial crime, covering topics such as data analytics, digital forensics, cybersecurity, and the use of specialized forensic software. Through case studies and hands-on exercises, students will develop skills necessary to identify fraudulent activities, analyze electronic data, and support litigation processes within modern organizational environments.
Recommended Textbook
Accounting Information Systems The Crossroads of Accounting and IT 1st Edition by
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Donna Kay
Chapter 1: Accounting Systems Insights
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) What types of data does a Supply Chain Management system and an accounting system need to share? How does each system use that data?
Answer: A Supply Chain Management system and an accounting system would share vendor information (company name, primary contact, address, and phone number), items supplied by the vendor, purchase orders, delivery dates, delivery receipt., and current raw material inventory levels. (The student may provide additional types of data.)
The Supply Chain Management system uses this information to order more supplies and verify delivery content. Raw material inventory levels are used to calculate when to order more raw materials. The accounting system uses this data to know which vendor to pay, how much to pay the vendor, and when to pay the vendor. Raw material inventory is used in various financial reports.
Q2) What may be classified as a information asset? Please provide an example.
Answer: Data contained in the information system. For example, electronic records, files, and databases.
Information technology which is defined as hardware such as computers, servers, routers, keyboards, and monitors (the student may list other hardware)and software such as firewalls, applications, analysis tools (the student may list other software).
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Chapter 9: XBRL: Intelligent Business Reporting
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Sample Questions
Q1) Taxonomy
Answer: Answers: E
Q2) All publicly traded companies are required to use XBRL for SEC filings by June 2011.
A)True
B)False
Answer: True
Q3) XBRL shows promise to streamline financial reports and data processing by using digital tagging that is the equivalent to the use of
A)Retina scanning for security
B)Relational database for data storage
C)Bar code scanning on inventory
D)B and C
Answer: C
Q4) XML is a programming language also used for Web site development that is static.
A)True
B)False
Answer: False
Q5) ________ is a programming language used to develop Web pages.
Answer: HTML or HyperText Markup Language
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Chapter 8: Accounting and Sustainability Intelligence
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100 Flashcards
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Sample Questions
Q1) The ________ model provides an organizing framework for grappling with complex and sometimes conflicting sustainability issues.
Answer: Sustainability IDa (Integrated Decision analysis)
Q2) Which sustainability reporting framework was a joint undertaking of the British Standards Institution, Forum for the Future, AccountAbility, and the UK Department of Trade and Industry and provides guiding principles for sustainability and a framework that integrates sustainability into management decision making?
A)ISO 14000 Environmental Management
B)International Federation of Accountants (IFAC)Sustainability Framework
C)Sigma Guidelines
D)Global Reporting Initiative (GRI)
Answer: C
Q3) Hardware selection decisions could impact the unique challenges of proper disposal or recycling of electronic waste.
A)True
B)False
Answer: True
Q4) INTERNATIONAL FEDERATION OF ACCOUNTANTS (IFAC)SUSTAINABILITY FRAMEWORK
Answer: Answers: C
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Chapter 7: Accounting and Business Intelligence
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Sample Questions
Q1) One of the steps not in the IDM basic steps framework is
A)Define the symptom of the issue
B)Analyze the quantitative factors
C)Evaluate performance
D)Identify options
Answer: A
Q2) Data is transformed into information (meaningful data)when the data is processed and organized in a systematic manner.
A)True
B)False
Answer: True
Q3) The process of integrating financial and non-financial factors into the decision process can lessen the quality of the decision.
A)True
B)False
Answer: False
Q4) A ________ graphically represents BI, allowing the user to manipulate data and view the resulting changes.
Answer: Digital dashboard
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Chapter 6: Integrated Enterprise Systems
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Q1) The SAP Business One Deposit form corresponds to the ________ event in the baseline accounting system.
A)Record bill
B)Receive payment
C)Record deposit
D)Pay bill
Q2) In SAP customer payment is recorded on a deposit form which is accessed in the
A)Business Partners tab
B)Administration tab
C)Sales tab
D)Banking tab
Q3) In SAP Business All-in-One, the customer cockpit uses traffic light alerts to track the order status from
A)order placement, picking, and delivery
B)order placement, delivery, and payment
C)order fulfillment, delivery, and payment
D)order fulfillment, picking, and payment
Q4) A computer system that does not connect or communicate with any other computer system is called a ________.
Q5) To record items received, SAP uses a form called a ________.
Page 7
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Chapter 5: Business Processes: Purchasing, Sales, and Payroll Cycles
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Sample Questions
Q1) What DFD level is the EspressoCoffee Make Deposit DFD? How do you know this?
Q2) Create a narrative for the Books Ga'Lore! Payroll DFD.
Q3) The stages approach to customization involves customizing and installing customer, vendor, employee, and remaining modules for the entire enterprise at the same time.
A)True
B)False
Q4) Create an EAD table for the Books Ga'Lore! Payroll DFD.
Q5) A ________ identifies the differences between the baseline modules and the customization required to meet enterprise-specific needs.
Q6) The Purchase Order Line table is an intersection table required to eliminate the many-to-many relationship between the Purchase Order table and the Item table. A)True
B)False
Q7) The advantage to the ________ approach is that the new system goes live all at once.
Q8) Annotate the Spice House Purchase Order narrative.
Q10) Annotate the Spice House Receive Items narrative. Page 8
Q9) Create a DFD for the Spice House Receive Items narrative.
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Chapter 4: Accounting Systems and Business Processes
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Sample Questions
Q1) Since most accounting systems use databases to store accounting data, the account balances are calculated using various database tables.
A)True
B)False
Q2) Annotating narrative involves
A)Creating an EAD table based on the narrative
B)Writing a general description of the business activity
C)Identifying and labeling the events in the narrative
D)Identifying and labeling agents in the narrative
Q3) An event typically associated with the customer module of a baseline accounting system is
A)Make deposits
B)Create purchase orders
C)Receive inventory
D)Pay bills
Q4) When data is shown leaving a process but not entering a process, this is called
A)An acceptable data flow
B)Black hole
C)Gray hole
D)Miracle
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Chapter 3: Accounting Interface: Database Forms, Queries, and Reports
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Sample Questions
Q1) Query builder tools make it possible to build queries using programming code. A)True
B)False
Q2) A well designed interface uses various interface tools effectively so that only valid data is entered to ensure data integrity and quality.
A)True
B)False
Q3) Which of the following is not an important reason to understand SQL programming?
A)To reduce reliance on IT programmers
B)SQL injection cyberattacks are becoming more common
C)To successfully conduct IT audits
D)To add data to a relational database
Q4) Which database interface component is typically used to search the database?
A)Queries
B)Forms
C)Navigation
D)Reports
Q5) Database forms do not need security to limit data access or data entry. A)True
B)False
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Chapter 2: Accounting Databases
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Sample Questions
Q1) Database anomalies can be removed by the process of ________.
Q2) What is the difference between a relational database and a network database?
Q3) Which field in the TimeSheet table is a foreign key?
A)Time Sheet ID
B)Employee ID
C)Total Hours
D)Week Ending
Q4) An audit of customer records in the accounting database reveals data in the state field was entered inconsistently. Some customers' states were entered using the two letter abbreviation (MO, CA, or IA)and others were spelled out (Missouri, California, or Iowa). Which database integrity rule is not being followed? What type of controls can be implemented to prevent this in the future?
Q5) What does the DBMS software do?
Q6) All the following statements about intersection tables are true except?
A)Intersection tables remove many-to-many relationships.
B)Only one field in an intersect table is needed to uniquely identify a record.
C)An intersection table's primary key is a composite key.
D)The primary key for the intersection table includes the foreign keys of the tables.
Q7) Employee
Page 12
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Chapter 14: Database Design: ERD, REA, and SQL
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Q1) Rule 3: Domain Integrity
Q2) List and define three database anomalies.
Q3) How are business entities and their relationships identified?
A)Determining the business rules for business transactions
B)Determining the entity identifiers
C)Normalizing the database
D)Analyzing business transactions
Q4) Many-to-many relationships are not problematic when building a database.
A)True
B)False
Q5) Rule 1: First Normal Form (1NF)
Q6) Data integrity refers to data being
A)current and active
B)current and complete
C)accurate and current
D)accurate and complete
Q7) Experience does not help database designer define business entities and relationships among those entities.
A)True
B)False
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Chapter 13: Accounting System Development
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Q1) A ________ analysis identifies any difference between the specifications of the baseline accounting system and the enterprise-specific user requirements.
Q2) Economic feasibility assesses the probability of successful implementation and use of the new system, including any legal considerations.
A)True
B)False
Q3) Service problem
Q4) ________ modeling involves preparing a pictorial representation of the entire accounting system.
Q5) What project management activities are typically conducted in the planning phase of the SDLC?
Q6) Deploy
Q7) List and define the categories in Weatherbe's PIECES framework for problem analysis.
Q8) What are the basic steps in the ABC methodology?
Q9) Cultural feasibility
Q10) ________ is the order and timing of when the SDLC phases are completed.
Q11) Performance problem
Q12) Efficiency problem Page 14
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Chapter 12: The Risk Intelligent Enterprise: Enterprise Risk Management
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Sample Questions
Q1) Now that companies are facing a greater demand for transparency, sustainable practices may provide
A)An increased operating burden
B)An advantage with regard to risk
C)An increase in management accountability
D)B and C
Q2) ________ is the process of assessing the extent to which events would impact an entity's ability to achieve its objectives.
Q3) How can a risk management philosophy provide consistency in risk attitudes throughout an organization?
A)By anticipating all possible risks
B)By providing event specific examples
C)By being well-developed and articulated
D)By setting employee expectations
Q4) Which of the following is not a dimension in an ERM cube?
A)ERM resources
B)ERM objectives
C)ERM components
D)ERM units
Page 16
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Chapter 11: Cybersecurity
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Sample Questions
Q1) Encryption is a useful tool for protecting data in transit and stored in databases.
A)True
B)False
Q2) Network cyberattacks typically target ________ because they offer access to the network.
Q3) A Warm site is a commercial disaster recovery service that can be leased by an enterprise to provide IT services in the event of a disaster that can be fully operational in a few hours.
A)True
B)False
Q4) ________ attacks are typically for very small amounts over numerous accounts that accumulate into significant sums.
Q5) What percent of the breaches in the financial services industry were tied to organized crime?
A)34%
B)66%
C)84%
D)90%
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Chapter 10: Fraud and Internal Control
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Sample
Questions
Q1) ________ techniques to avoid potential key fraud risk events should be established, where feasible, to mitigate possible impacts on the organization.
Q2) You are a manager for a large public accounting firm and have been assigned to conduct an internal audit for a publicly traded company. You your parents have 75% of their retirement savings in the client company stock. Prepare an email requesting another assignment. Explain your reasons.
Q3) COBIT provides high-level strategic guidance for meeting overall internal control objectives.
A)True
B)False
Q4) In the COSO Internal Control-Integrated Framework, control activities do not include
A)Independent reconciliations of assets and accounting records
B)Physical controls
C)Segregation of duties
D)Management controls
Q5) What are the three major objectives of an IT audit?
Q6) What three things must a perpetrator have to commit fraud? Include a brief description of each.
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