Information Systems for Accountants
Exam Preparation Guide
Course Introduction
Information Systems for Accountants explores the fundamental role that information systems play in the modern accounting environment. The course examines the design, implementation, and management of accounting information systems (AIS), emphasizing how these systems support business processes, facilitate internal controls, and ensure the effective recording, processing, and reporting of financial information. Students will gain an understanding of database concepts, systems security, and audit trails, while also analyzing how technology enables compliance with regulatory requirements. Through theoretical frameworks and practical case studies, the course prepares future accountants to critically assess and leverage information systems for strategic decision-making and organizational efficiency.
Recommended Textbook
Accounting Information Systems 13th Global Edition by Marshall B. Romney
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Page 2
Chapter 1: Accounting Information Systems: an Overview
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Q1) True or False: An accounting information system requires at least one computer.
A)True
B)False
Answer: False
Q2) An AIS provides value by
A)improving products or services through information that increases quality and reduces costs.
B)providing timely and reliable information to decision makers.
C)creating new products.
D)both A and B
Answer: D
Q3) Identify the piece of information below that is typically needed to acquire a building.
A)job descriptions
B)vendor performance
C)market coverage
D)capacity needs
Answer: D
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Page 3
Chapter 2: Overview of Transaction Processing and Enterprise Resource Planning Systems
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Q1) Which of the following statements about data processing methods is true?
A)Online real-time processing does not store data in a temporary file.
B)Batch processing cannot be used to update a master file.
C)Control totals are used to verify accurate processing in both batch and online batch processing.
D)Online real-time processing is only possible with source data automation.
Answer: A
Q2) A specialized journal
A)is used to record infrequent or non-routine transactions.
B)simplifies the process of recording large numbers of repetitive transactions.
C)records all detailed data for any general ledger account that has individual sub-accounts.
D)contains summary-level data for every account of the organization.
Answer: B
Q3) A specialized journal would be most likely to be used to enter
A)sales transactions.
B)monthly depreciation adjustments.
C)annual closing entries.
D)stock issuance transactions.
Answer: A
Page 4
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Chapter 3: Systems Documentation Techniques
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Q1) Which symbol would be used in a flowchart to represent a general ledger?
A)#2
B)#1
C)#3
D)#5
Answer: A
Q2) Describe the different levels of DFDs.
Answer: The highest-level or summary view DFD,which shows major inputs/outputs and a single process is called a context diagram.The DFD itself shows inputs,major processes,and outputs; each process in the DFD can be "exploded" or shown in greater level of detail with the sub-processes and related data flows.
Q3) Which symbol would be used in a flowchart to represent a general ledger master file kept on magnetic disk?
A)#2
B)#5
C)#7
D)#8
Answer: C
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Chapter 4: Relational Databases
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Q1) The schema that provides an organization-wide view of the entire database is known as the
A)external-level schema.
B)internal-level schema.
C)conceptual-level schema.
D)logical view of the database.
Q2) Identify the statement below that is false with regards to basic requirements of a relational database model.
A)Primary keys can be null.
B)Foreign keys,if not null,must have values that correspond to the value of a primary key in another table.
C)All non-key attributes in a table should describe a characteristic about the object identified by the primary key.
D)Every column in a row must be single-valued.
Q3) Describe a data dictionary.
Q4) Discuss redundancy as it applies to database design.
Q5) Discuss the ways in which a well-designed DBMS will facilitate the three basic functions of creating,changing,and querying data.
Q6) List the four DBMS "languages" and describe who uses each and for what purpose.
Page 6
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Chapter 5: Computer Fraud
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Q1) Lapping is best described as the process of
A)applying cash receipts to a different customer's account in an attempt to conceal previous thefts of cash receipts.
B)inflating bank balances by transferring money among different bank accounts.
C)stealing small amounts of cash,many times over a period of time.
D)increasing expenses to conceal that an asset was stolen.
Q2) What agency did the United States create to use cyber weapons and to defend against cyber attacks?
A)U.S.Cyber Command
B)Department of Network Security
C)Department of Cyber Defense
D)Department of Technology Strategy
Q3) One fraudulent scheme covers up a theft by creating cash through the transfer of money between banks.This is known as A)lapping.
B)misappropriation of assets.
C)kiting.
D)concealment.
Q4) What are some of the distinguishing characteristics of fraud perpetrators?
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Chapter 6: Computer Fraud and Abuse Techniques
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Q1) Individuals who use telephone lines to commit fraud and other illegal acts are typically called A)phreakers. B)crackers.
C)phishers.
D)hackers.
Q2) Which of the following is not a method of identity theft?
A)scavenging
B)phishing
C)shoulder surfing
D)phreaking
Q3) During a routine audit,a review of cash receipts and related accounting entries revealed discrepancies.Upon further analysis,it was found that figures had been entered correctly and then subsequently changed,with the difference diverted to a fictitious customer account.This is an example of A)kiting.
B)data diddling.
C)data leakage.
D)phreaking.
Q4) What is social engineering?
Page 8
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Chapter 7: Control and Accounting Information Systems
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Q1) According to the ERM,________ deal with the effectiveness and efficiency of company operations,such as performance and profitability goals.
A)compliance objectives
B)operations objectives
C)reporting objectives
D)strategic objectives
Q2) At a movie theater box office,all tickets are sequentially prenumbered.At the end of each day,the beginning ticket number is subtracted from the ending number to calculate the number of tickets sold.Then,ticket stubs collected at the theater entrance are counted and compared with the number of tickets sold.Which of the following situations does this control detect?
A)Some customers presented tickets purchased on a previous day when there wasn't a ticket taker at the theater entrance (so the tickets didn't get torn.)
B)A group of kids snuck into the theater through a back door when customers left after a show.
C)The box office cashier accidentally gives too much change to a customer.
D)The ticket taker admits his friends without tickets.
Q3) Describe the differences between general and specific authorization.
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Chapter 8: Controls for Information Security
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Q1) Which of the below keeps a record of the network traffic permitted to pass through a firewall?
A)intrusion detection system
B)vulnerability scan
C)log analysis
D)penetration test
Q2) True or False: Cloud computing can potentially generate significant cost savings for an organization.
A)True
B)False
Q3) Compatibility tests utilize a(n)________,which is a list of authorized users,programs,and data files the users are authorized to access or manipulate.
A)validity test
B)biometric matrix
C)logical control matrix
D)access control matrix
Q4) Describe the function of a computer incident response team (CIRT)and the steps that a CIRT should perform following a security incident.
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Chapter 9: Confidentiality and Privacy Controls
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Q1) The first steps in protecting the privacy of personal information is to identify
A)what sensitive information is possessed by the organization.
B)where sensitive information is stored.
C)who has access to sensitive information.
D)All of the above are first steps in protecting privacy.
Q2) Identify the type of information below that is least likely to be considered "sensitive" by an organization.
A)financial statements
B)legal documents
C)strategic plans
D)product cost information
Q3) If an organization asks you to disclose your social security number,yet fails to properly dispose of your private information once it has fulfilled its purpose,the organization has likely violated which of the Generally Accepted Privacy Principles?
A)Management
B)Notice
C)Choice and consent
D)Use and retention
Q4) Describe some steps you can take to minimize your risk of identity theft.
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Chapter 10: Processing Integrity and Availability Controls
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Q1) This determines if all required data items have been entered.
A)completeness check
B)field check
C)limit check
D)range check
Q2) Which of the following is a key control regarding the minimization of system downtime?
A)fault tolerance
B)disaster recovery plans
C)backup procedures
D)all of the above
Q3) The best example of an effective payroll transaction file hash total would most likely be
A)sum of net pay.
B)total number of employees.
C)sum of hours worked.
D)total of employees' social security numbers.
Q4) True or False: It is impossible to eliminate the risk of downtime.
A)True
B)False
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Chapter 11: Auditing Computer-Based Information Systems
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Q1) Explain the differences between each type of audit risk.
Q2) Consideration of risk factors and materiality is most associated with which audit stage?
A)collection of audit evidence
B)communication of audit results
C)audit planning
D)evaluation of audit evidence
Q3) Which of the following is not an information systems audit test of controls?
A)Observe computer-site access procedures.
B)Investigate how unauthorized access attempts are handled.
C)Review logical access policies and procedures.
D)Examine the results of disaster recovery plan simulations.
Q4) Assessing the quality of internal controls,the reliability of information,and operating performance are all part of
A)audit planning.
B)collection of audit evidence.
C)communication of audit results.
D)evaluation of audit evidence.
Q5) How is a financial audit different from an information systems audit?
Q6) Name and describe the different types of audits.
Page 13
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Chapter 12: The Revenue Cycle: Sales to Cash Collections
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Q1) Before a shipping notice is prepared during the revenue cycle,shipping department personnel should match the inventory received from the warehouse to the A)sales order.
B)picking tickets.
C)picking ticket and sales order.
D)sales order and bill of lading.
Q2) The legitimacy of customer orders is established by ________ in paper-based customer orders.
A)the customer's signature
B)the customer's pin number
C)the customer's verbal authorization
D)prior experience with the customer
Q3) The cashier deposits checks for Benedek Incorporated and also prepares payments to vendors.Of the following,who is best able to reconcile the bank statement to Benedek's records on a regular basis?
A)cashier
B)internal audit department
C)treasurer
D)external auditor
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Page 14
Chapter 13: The Expenditure Cycle: Purchasing to Cash
Disbursements
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Q1) Which of the following threats is not specific to the purchase requisition process of the expenditure cycle?
A)stockouts
B)purchasing from unauthorized vendors
C)requisitioning goods not needed
D)All of the above are threats in the purchase requisition process.
Q2) MacDougalKids is a mid-sized manufacturer of organic baby food.MacDougalKids uses the EOQ inventory management approach.Which of the following factors would likely be least important when selecting inventory suppliers?
A)product price
B)product quality
C)vendor delivery dependability
D)All would be equally important.
Q3) There is a symmetrical interdependence between a firm's expenditure cycle and its suppliers'
A)production cycle.
B)revenue cycle.
C)expenditure cycle.
D)general ledger and reporting system.
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Chapter 14: The Production Cycle
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Q1) ________ are incurred to ensure that products are created without defects the first time.
A)External failure costs
B)Inspection costs
C)Internal failure costs
D)Prevention costs
Q2) Identify and discuss the two common methods of production planning.
Q3) True or False: ERP systems make it easier for an organization to implement an activity based costing approach.
A)True
B)False
Q4) What is the main difference between MRP-II and JIT manufacturing systems?
A)The length of the planning horizon
B)JIT uses long-term customer demand for planning purposes,but MRP-II uses short-term customer demand for planning purposes.
C)MRP-II relies on EDI,but JIT does not.
D)There are no significant differences between MRP-II and JIT.
Q5) What types of data are accumulated by cost accounting? What is the accountant's role in cost accounting?
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Chapter 15: The Human Resources Management and Payroll Cycle
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Q1) Experts estimate that,on average,the costs associated with replacing an employee are about ________ the employee's annual salary.
A)one-quarter of
B)one-half of C)one and one-half times
D)twice
Q2) Executive immersion experiences are important because
A)CEOs often have no idea what rank-and-file employees do on a daily basis.
B)employees who have positive attitudes contribute to increasing company profits.
C)many employees feel upper management is out of touch.
D)it is important for organizations to take social responsibility seriously.
Q3) The threat of violation of employment laws relates directly to which activity?
A)payroll processing
B)collecting employee time data
C)hiring and recruiting
D)all of the above
Q4) Discuss the various types and sources of input into the HRM/payroll cycle.
Q5) Describe benefits and threats of incentive and bonus programs.
Q6) What controls are available to address the threat of payroll errors?
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Chapter 16: General Ledger and Reporting System
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Q1) Each specific data item in an XBRL document is called a(n) A)taxonomy.
B)element.
C)instance.
D)schema.
Q2) Adjusting entries that are made to recognize revenue that has been received but not yet earned are classified as A)estimates.
B)deferrals.
C)accruals.
D)revaluations.
Q3) The ________ is the managerial report that shows planned cash inflows and outflows for major investments or acquisitions.
A)journal voucher list
B)statement of cash flows
C)operating budget
D)capital expenditures budget
Q4) How is a balanced scorecard used to assess organizational performance?
Q5) How is an audit trail used in the general ledger and reporting system?
Q6) Discuss the value and role of budgets as managerial reports.
Page 18
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Chapter 17: Database Design Using the Rea Data Model
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Q1) Identify the minimum cardinality of any REA diagram relationship.
A)0 or 1
B)0 or N
C)1 or N
D)none of the above
Q2) It is industry standard to model relationships as ________ in entity-relationship diagrams.
A)rectangles
B)ovals
C)diamonds
D)there is no industry standard
Q3) In which stage(s)of the database design process does data modeling occur?
A)only in the systems analysis stage
B)only in the design stage
C)in both the systems analysis and design stages
D)neither the systems analysis nor the design stages
Q4) Describe the three basic rules that apply to the REA model pattern.
Q5) Describe an REA data model.
Q6) Define minimum and maximum cardinalities.
Q7) Explain how an AIS system can be viewed as a set of "give-to-get" exchanges.
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Chapter 18: Implementing an Rea Model in a Relational Database
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Q1) Which of the following is true with regards to REA diagrams and relational databases?
A)A well-designed relational database is the starting point for creating an REA diagram.
B)A well-designed REA diagram minimizes update,insert or delete anomaly problem when the diagram is implemented into a relational database.
C)REA diagrams and database design are generic across organizations.
D)The design of a relational database is specific to the organization being modeled.
Q2) When combining two REA diagrams by merging common entities,changes in the cardinality of the merged entity is needed when it is a(n)
A)agent.
B)event.
C)relationship.
D)resource.
Q3) Explain where in the REA model you can find the information normally found in a journal.
Q4) Explain a completeness check.
Q5) What are the advantages of the REA data model over the traditional AIS model?
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Chapter 19: Special Topics in Rea Modeling
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Q1) A groups entity is used to depict the following relationship.
A)is-a-kind-of
B)is-a-member-of
C)is-a-piece-of
D)is-a-group-of
Q2) In an expenditure cycle diagram,which of the following is an example of an event that larger organizations might want to include in their extended REA model?
A)Request
B)Order
C)Ship Order
D)Fill Order
Q3) Why is the event Issue Debt often modeled as a separate event entity?
Q4) The Interview event stores detailed data about each job interview.Since hiring only happens once,but there may have been several interviews,Interview is linked to the Hire Employees event in a(n)________ relationship.
A)1:N
B)1:1
C)M:N
D)0:N
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Chapter 20: Introduction to Systems Development and Systems Analysis
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Q1) All of the following are benefits of planning and managing systems development except
A)controlling costs.
B)ensuring systems are consistent with organizational goals.
C)guaranteeing that employees use the system.
D)aids in keeping the organization abreast of technological change.
Q2) During ________ of systems analysis,an examination made of each development activity to define the problem to be solved.
A)information needs and systems requirements
B)the feasibility study
C)the initial investigation
D)the systems survey
Q3) Which of the following aspect of a feasibility study is concerned with meeting external reporting requirements?
A)technical feasibility
B)legal feasibility
C)scheduling feasibility
D)operational feasibility
Q4) Describe the five phases of systems analysis.
Q5) Describe the physical design stage of the systems development life cycle.
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Chapter 21: Ais Development Strategies
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Q1) Which of the following is not one of the ways in which a Business Process Management System can improve internal control?
A)Innovative technology allows access and authorization controls to be programmed at the transaction level.
B)Documents or transactions that require approval can be electronically routed to a manager.
C)Process rules are used to alert users when actions must be taken.
D)All actions and processes are monitored and documented in a process log for periodic review.
Q2) How does outsourcing improve an organization's utilization of assets?
A)by allowing a company to completely eliminate its IS department,which will reduce its payroll costs
B)by allowing the company to sell assets to outsourcers and improve their cash position
C)by eliminating the expense of keeping up with the latest technology and,thus,eliminate the drain on cash reserves
D)Both B and C above are correct.
Q3) Describe end-user computing and the advantages and risks involved.
Q4) Explain the concept of an application service provider.
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Chapter 22: Systems Design,implementation,and Operation
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Q1) Yasin,a professional in information technology services,received an e-mail from Adil in the Sales Department.The e-mail read: "Yasin,I need you to run that inventory report you prepared for me last month again.Please send it to me by e-mail.Thank you,Adil." What type of report is Adil asking Yasin to provide?
A)scheduled report
B)special-purpose analysis report
C)triggered exception report
D)demand report
Q2) Over the entire life of a typical system,approximately ________ of the work takes place during development and ________ of the work takes place on software modifications and updates.
A)30%; 70%
B)40%; 60%
C)50%; 50%
D)60%; 40%
Q3) Describe the approaches to system conversion.
Q4) How can accountants help in the systems development life cycle (SDLC)process?
Q5) What output design considerations should be analyzed as part of the physical system design phase?
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