WGU D217 AIS-PA

D217 AIS-PA

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Pre-Assessment: Accounting Inform...

70 terms neelymj1Preview D105 In 34 terms Aci A grocery store updates its inventory levels in the accounting information system in real time. However, the store frequently reports petty theft and has trouble locating inventory on the shop floor. Which characteristic of useful information is missing from this scenario?Reliable Which component of an information system is used to produce an operational budget?Management reporting system / MRS Which risk does automating general ledger (GL) postings pose to a company?Having no human intervention means the company could have errors in the data.What describes the network of information that can be used as an audit trail?Documents, journals, and ledgers How do internal controls affect daily activities? They protect an organization from risk, and therefore, physical controls and IT controls are used.Which items make up the three-way match?Supplier's invoice, receiving report and purchase order aka AP Packet.Which document contains details on the acquisition of a fixed asset?Depreciation report How many surprise checks must an organization undergo annually to maintain the International Computer Security Association seal?Two

An organization uses improperly normalized tables.Every inventory item also includes the following

information about the vendor: name, address, telephone

number. Which anomaly does this scenario reflect?Update anomaly What is a factor that has contributed to the growth of the commercial software market?General commercial software has a relatively low cost as compared to customized software.Which turnkey system is a spreadsheet program an example of?Office automation system Which software option is mass-produced and designed to serve a wide variety of user needs, enabling the vendor to reduce development cost?General accounting systems Workers in an office need to update their ability to produce professional documents. Which type of system should the firm purchase?Office automation system Which controls do organizations use to ensure the completeness, accuracy, and validity of financial transactions?Application controls Which outcome can occur if systems development is not separated from a database administrator / DBA?Deficient database access controls What can an organization use to address the risk of a perpetrator inserting a fraudulent payroll transaction along with legitimate transactions directly into the information system?Internal controls to detect unauthorized changes What do validity tests ensure data values conform to? Specified tolerances What should an auditor request to gain an understanding of an application and construct an accurate simulation?Complete and current documentation What is programmed into a network-level firewall to accept or deny access requests?Filtering rules What does the Sarbanes-Oxley Act require as part of the annual reporting on internal controls for an organization?A statement regarding management's responsibility for establishing and maintaining internal controls.What are the advantages of using data coding in accounting information systems?Concisely representing large amounts of complex information that would otherwise be unmanageable.How is the digital audit trail like the paper audit trail? The digital audit trail allows transaction tracing.What does an external auditor's responsibility involve? Determining validity, accuracy, and completeness

Which type of digital computer file stores payroll programs and other data that are used as standards for processing?Reference file With which cycle does the fixed asset system share some characteristics?Expenditure cycle Which company cycle transforms or converts input resources; such as raw materials, labor, and overhead; into finished products or services for sale?Conversion cycle Data coding involves creating simple numeric or alphabetic codes to represent complex economic phenomena that facilitate efficient data processing.Which problem does data coding solve?An entry takes a great deal of recording space, is time-consuming to record, and is prone to many types of errors.Which information flow supports preparing the financial statements of an organization?Internal vertical What is the relationship between the transaction processing system (TPS) and the general ledger system

(GLS)?

Data from the TPS are input for the GLS.Which accounting information system (AIS) component provides information to external users?Financial reporting system (FRS)

Useful information has the following characteristics:

relevance, timeliness, accuracy, completeness, and summarization. What happens if the information is irrelevant?The decision maker wastes time analyzing the information.Why would an organization decide to buy a turnkey information system (IS)?The organization can implement it with little or no modification.Who are the primary recipients of financial information? Investors and creditors Which item represents a characteristic of a detailed and rich audit trail for a general ledger?Providing a means for detecting errors What is the purpose of a purchase requisition? The purchase requisition ensures items purchased are only from authorized vendors.What are the accounting functions for the accounts payable?Collect data and invoices to properly complete transactions.Which items does a payroll department need in order to prepare the payroll register?Pay rate, withholding information, and hours worked Which process represents proper design for funding a payroll imprest account?The Cash Disbursements department creates a single check to fund the payroll imprest account for the company payroll disbursement.

Which items are included in the subsidiary ledger? Customer name, customer address, current balance, available credit, transaction dates, invoice numbers, credit for payments, returns.What are the duties of the mail room clerk?The mail room clerk opens the envelopes and reconciles checks and remittances.What is a method for verification control?A copy of the signature to verify the signature.Which changes to mission-critical functions such as procurement and cash disbursements by electronic commerce are affecting the control environment?Transactions are performed automatically and in real time.What are the key problems an organization faces when trying to convey competence and conduct business fairly with customers, trading partners, and employees?Implementing the technological infrastructure and assuring partner's safeguards are in place and working.Which activity represents electronic commerce? Trading stocks Which topics create new challenges for the accounting profession because of a changing legal environment?Intellectual property rights, privacy, and security What must a business do to qualify for the Better Business Bureau (BBB) seal (BBBOnLine)?Respond promptly to customer complaints.What is a consequence of the task-data dependency of a flat-file approach?As users' needs change, additional data need to be gathered or recreated.Some companies pool their data to be shared by all users. Where would this data be located?In a database Where is a description of every data element in a database stored?Data dictionary.Enterprise resource planning (ERP) system functionalities fall into general groups of applications. Which applications operationally support the day-to-day activities of a business?Core applications.What makes an enterprise resource planning (ERP) system more than simply an elaborate transaction processing system?It is a decision support tool.What can be accomplished through the use of enterprise resource planning (ERP)?A single computer system can serve the unique needs of each functional area.Why is there a lack of effective communication between systems in the traditional, non-ERP model?It is the consequence of a fragmented systems design process.