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HA2042
ACCOUNTING INFORMATION SYSTEMS
FINAL ASSESSMENT
TRIMESTER three, 2021
Assessment Weight: 50 whole marks
Directions:
• All questions should be answered through the use of the reply bins offered on this paper.
• Accomplished solutions should be submitted to Blackboard by the revealed due date and time.
Please make sure you comply with the submission directions on the finish of this paper.
Objective:
This Assessment consists of six (6) questions and is designed to evaluate your stage of information of the important thing matters lined on this unit.
Question Assignment 1 (11 marks)
As an Accounting Data System professional, you present consultancy providers to varied purchasers in Australia. MPS Restricted is one among your purchasers, and Miss Angela, the pinnacle of its accounting division, is anxious concerning the income cycle’s enterprise processes and information associated operations. Due to this fact, she has just lately contacted you to judge their income cycle. You requested Miss Angela to supply the system flowchart of the enterprise actions concerned of their income cycle. Miss Angela has ready the next Determine 1: System Flowchart for you.
Determine 1. System Flowchart of the Income Cycle Actions
Required:
a) Describe potential inner management weaknesses within the above actions of MPS Restricted.
[4.5 Marks. Word Limit: Up to 150 words]
ANSWER a): ** Reply field will enlarge as you sort
b) Talk about the potential dangers related to the inner management weaknesses recognized in Part (A) above. [4.5 Marks. Word Limit: Up to 150 words]
ANSWER b):
c) Primarily based on Part (B) above, what varieties of frauds are potential. Trace: we have now mentioned several types of frauds within the interactive tutorial and lectures. Your dialogue needs to be primarily based on these contents. [2 Marks. Word Limit: Up to 150 words]
ANSWER c):
Question Assignment 2 (11 marks)
Mr Smith has been working laborious for the final ten years in MarksPush Restricted, and he has requested incessantly his instant boss and different involved officers to think about himself for the promotion. Regardless that another junior staff are promoted, the promotion requests of Mr Smith are all the time ignored. Lastly, Mr Smith determined to resign since he thought he was not pretty handled and due to this fact not promoted. He has secured the same job in XYZ Restricted, one among MarksPush Restricted’s opponents, primarily based on his qualification and competency. Mr Smith understands that the IT division of MarksPush Restricted isn’t environment friendly, and there are not any outlined procedures for the account and passwords of terminated staff. Mr Smith additional confirmed that his account and password for MarksPush Restricted have been nonetheless lively. Utilizing these particulars, Mr Smith accessed, copied and introduced many progressive engineering designs from MarksPush Restricted to XYZ Restricted.
Required:
a) Primarily based on the given data, establish and clarify the kind of fraud that has taken place. [4 Marks. Word Limit: Up to 150 words]
ANSWER a):
b) What will need to have motivated the worker to commit the fraud? Clarify your reply.
[4 Marks. Word Limit: Up to 150 words]
ANSWER b):
c) Record and clarify intimately two contributing elements to the kind of fraud that had taken place. [3 Marks. Word Limit: Up to 100 words]
ANSWER c):
Question Assignment three (7 marks)
Smith and Sons Restricted has a flat-file processing system. The data-processing facility of the corporate is intensive. Completely different purposes, akin to order processing, manufacturing planning, stock administration, accounting programs, payroll, and advertising programs, use separate tape and disk information. You have been operating an accounting consultancy and thought of the most effective advisor on the accounting data system. Due to this fact, Smith and Sons Restricted has just lately employed your consulting agency to analyze the opportunity of switching to a database administration system.
Required: Primarily based on the above data, put together a memo to the highest administration staff at Smith and Sons Restricted explaining some great benefits of a database administration system (DBMS). Additionally, talk about the need of a database administrator and the job features this individual would carry out.
[Word Limit: Up to 400 words]
ANSWER:
Question Assignment four (7 marks)
Mr Paul completed his accounting qualification within the early 2000s, and he joined AISL Company as an accountant. After delivering his providers for over twenty years, he’s a extremely regarded worker of the AISL Company. His loyalty to the corporate is mirrored in his dedication to his job as a normal accounting clerk. From which he has not taken a trip in virtually 15 years. Due to his dedication and lengthy tenure, he has acquired many associated tasks, which has allowed the AISL Company to scale back its workforce by attrition, management wage bills, and develop into extra environment friendly and aggressive. Particularly, Mr Paul is performing the next duties.
Mr Paul receives copies of credit score gross sales orders from the gross sales division. He accessed the AR subsidiary ledger from her workplace laptop and recorded the AR from these paperwork. He then data the gross sales within the gross sales journal and posts the transactions to the overall ledger accounts. Money receipts in fee of buyer accounts receivable come on to his workplace. He data the money receipts within the GL money and AR accounts and updates the AR subsidiary ledger. He then endorses the checks -for deposit only- and deposits them within the financial institution on the finish of every day.
Required:
a) Primarily based on the above data, establish any management issues within the procedures of AISL Company. [3 Marks. Word Limit: Up to 150 words]
ANSWER a):
b) Primarily based on the management issues recognized in Part (A) above, what types of fraud are potential on this system? [2 Marks. Word Limit: Up to 150 words]
ANSWER b):
c) What controls are wanted to scale back the danger of fraud? [2 Marks. Word Limit: Up to 150 words]
ANSWER c):
Question Assignment 5 (7 marks)
ABC Restricted has just lately noticed some development of their gross sales. The corporate has managed its expenditure cycle actions by a paper and pencil-based system. In response to this fast development, the corporate determined to configure a brand new expenditure cycle utilizing the essential know-how. The pinnacle of the accountant is especially involved concerning the enterprise actions of the next departments:
• Buying Division;
• Receiving Division; and
• Account Payable Division.
These enterprise actions are introduced in Determine 2 under.
Determine 2.
Required:
a) Primarily based on the above data, talk about the uncontrolled dangers related to the system as at present configured? [4 Marks. Word Limit: Up to 150 words]
ANSWER a):
b) Describe the controls that must be carried out into the system to mitigate the dangers within the given situation. [3 Marks. Word Limit: Up to 150 words]
ANSWER b):
Question Assignment 6 (7 marks)
HARDA Trend sells ready-to-wear style garments to youngsters. It is likely to be important to notice that the corporate has a 20-store chain concentrated in rising economies. Every retailer has an skilled full-time employees consisting of a supervisor and an Helpant supervisor. The complete-time employees is paid a hard and fast wage. The complete-time employees is Helped by a cashier and a gross sales Helpant who’ve comparatively much less expertise. The cashier and gross sales Helpant are paid hourly wages plus the fee primarily based on gross sales quantity. Sadly, all enterprise actions are managed manually with a paper-pencil system. As a result of their current fast development, HARDA Trend is planning to implement a brand new accounting data system. For this goal, they ask you for recommendation relating to the everyday course of of getting a brand new AIS for his or her shops.
Required: As a administration advisor, you might be required to make use of plain English language to elucidate to them the steps they should take to have a brand new AIS designed and put in.
[7 Marks. Word Limit: Up to 350 words]
ANSWER:
END OF FINAL ASSESSMENT
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