ACC 564 Week 7 Assignment 3 – Fraud in the Accounting Information System

For this assignment, research the Internet or Strayer databases to locate a firm that was involved in a fraud and / or embezzlement case.

Explain how the firm’s ACCOUNTING information system (i.e., components and functions) contributed to the fraud and / or embezzlement. You will need to focus on how each component / function of the accounting information system failed, which resulted in the scandal / case.

Write a ten to twelve (10-12) page paper in which you:

1. Based on the information you researched, assess the failure of the firm’s accounting information system to prevent the related fraud / embezzlement.
2. Imagine that the company that you researched uses a third-party ACCOUNTING SYSTEM. Evaluate the effectiveness of the firm’s stakeholder in the event that a third-party accounting system suffers a breach. Include an assessment of the level of responsibility of the software provider to the business and its clients. Provide support for your rationale.
3. Determine what advances in accounting and / or INFORMATION TECHNOLOGY could have prevented the event from occurring. Provide support for your argument.
4. Evaluate what changes should be made to both the Sarbanes-Oxley Act of 2002 and other current laws in order to make them more effective in deterring companies from committing crimes.
5. Recommend a strategy that the company you indicated may use to prevent future business information failures. Indicate how the company should approach the implementation of your recommended strategy. Provide support for your recommendation.
6. Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.

Your assignment must follow these formatting requirements:

 • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

 • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

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ACC 564 Week 8 – Quiz 3

1) The best example of a hash total for a payroll transaction file could be

A) total of employees’ social security numbers.

B) sum of net pay.

C) total number of employees.

D) sum of hours worked.

2) Error Logs and review are an example of

A) data entry controls.

B) data transmission controls.

C) output controls.

D) processing controls.

3) Following is the result of batch control totals on employee Social Security Numbers in a payroll processing transaction:

Correct Values From Masterfile	Values Entered DuringProcessing
487358796	487358796
534916487	534916487
498374526	498374526
514873420	514873420
534196487	534916487
678487853	678487853
471230589	471230589
3719438158	3720158158

The difference in the control totals is 720,000. Which data entry control would best prevent similar data entry errors in the future?

A) Modulus 11

B) Validity check

C) Check digit

D) Sequence check

4) Which of the following data entry controls would not be useful if you are recording the checkout of library books by members?

A) Sequence check

B) Prompting

C) Validity check

D) Concurrent update control

5) A customer failed to include her account number on her check, and the accounts receivable clerk credited her payment to a different customer with the same last name. Which control could have been used to most effectively to prevent this error?

A) Closed-loop verification

B) Duplicate values check

C) Validity check

D) Reconciliation of a batch control total

6) If invoices are processed in groups of fifty, which fields from the document shown below would not be used to create a hash control total?

A) Amount

B) Item Number

C) Quantity Ordered

D) Sales Order number

7) A data entry input control in which the application software sums the first four digits of a customer number to calculate the value of the fifth digit and then compares the calculated number to the number typed in during data entry is an example of a

A) check digit verification.

B) validity check.

C) closed-loop verification.

D) duplicate data check.

8) All of the following controls for online entry of a sales order would be useful except

A) check digit verification on the dollar amount of the order.

B) validity check on the inventory item numbers.

C) field check on the customer ID and dollar amount of the order.

D) concurrent update control.

9) A specific inventory record indicates that there were 12 items on hand before a customer brings two of the items to the check stand to be purchased. The cashier accidentally entered quantity 20 instead of 2. Which data entry control would best have prevented this error?

A) sign check

B) limit check

C) validity check

D) field check

10) When processing weekly payroll, an employee accidentally entered 400 for hours worked. The best data entry control for this error would be

A) a limit check.

B) a check digit.

C) batch total reconciliation.

D) a field check.

11) The data entry control that would best prevent entering an invoice received from a vendor who is not on an authorized supplier list is

A) a validity check.

B) an authorization check.

C) a check digit.

D) closed-loop verification.

12) Forms design is an example of this type of control.

A) Data entry control

B) Processing control

C) Output control

D) Input control

13) Sequentially prenumbered forms is an example of a(n)

A) data entry control.

B) data transmission control.

C) processing control.

D) input control.

14) Turnaround documents are an example of a(n)

A) data entry control.

B) output control.

C) processing control.

D) input control.

15) A validity check is an example of a(n)

A) data entry control.

B) data transmission control.

C) output control.

D) input control.

16) Parity checks are an example of a(n)

A) data entry control.

B) data transmission control.

C) output control.

D) processing control.

17) User reviews are an example of a(n)

A) data entry control.

B) data transmission control.

C) output control.

D) processing control.

18) Data matching is an example of a(n)

A) data entry control.

B) data transmission control.

C) processing control.

D) input control.

19) Batch totals are an example of a(n)

A) data entry control.

B) data transmission control.

C) output control.

D) processing control.

20) Cancellation and storage of documents means that

A) data are copied from a document and stored, after which the document is shredded.

B) documents are defaced before being shredded.

C) documents are defaced and stored.

D) cancellation data are copied from documents before they are stored.

21) Check digit verification is an example of a(n)

A) data transmission control.

B) output control.

C) processing control.

D) input control.

22) This ensures that the input data will fit into the assigned field.

A) Limit check

B) Range check

C) Size check

D) Validity check

23) This tests a numerical amount to ensure that it does not exceed a predetermined value nor fall below another predetermined value.

A) Completeness check

B) Field check

C) Limit check

D) Range check

24) This determines if all required data items have been entered.

A) Completeness check

B) Field check

C) Limit check

D) Range check

25) This determines the correctness of the logical relationship between two data items.

A) Range check

B) Reasonableness test

C) Sign check

D) Size check

26) This determines if characters are of the proper type.

A) Field check

B) Alpha-numeric check

C) Range check

D) Reasonableness test

27) This tests a numerical amount to ensure that it does not exceed a predetermined value.

A) Completeness check

B) Limit check

C) Range check

D) Sign check

28) This batch processing data entry control sums a field that contains dollar values.

A) Record count

B) Financial total

C) Hash total

D) Sequence check

29) This batch processing data entry control sums a non-financing numeric field.

A) Record count

B) Financial total

C) Hash total

D) Sequence check

30) When I enter a correct customer number, the data entry screen displays the customer name and address. This is an example of

A) prompting.

B) preformatting.

C) closed-loop verification.

D) error checking.

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ACC 564 Week 9 – Quiz 4

1) Using a file-oriented approach to data and information, data is maintained in

A) a centralized database.

B) many interconnected files.

C) many separate files.

D) a decentralized database.

2) In a well-structured  relational database,

A) every table must be related to at least one other table.

B) every table must be related to all other tables.

C) one table must be related to at least one other table.

D) one table must be related to all other tables.

3) File-oriented approaches create problems for organizations because of

A) multiple transaction files.

B) a lack of sophisticated file maintenance

C) multiple users.

D) multiple master files.

4) Which statement is true regarding file systems?

A) Transaction files are similar to ledgers in a manual AIS.

B) Multiple master files create problems with data consistency.

C) Transaction files are permanent.

D) Individual records are never deleted in a master file.

5) The ________ acts as an interface between the database and the various application programs.

A) data warehouse

B) database administrator

C) database Management System

D) Database System

6) The combination of the database, the DBMS, and the application programs that access the database through the DBMS is referred to as the

A) data warehouse.

B) database administrator.

C) database system.

D) database manager.

7) The person responsible for the database is the

A) data coordinator.

B) database administrator.

C) database manager.

D) database master.

8) All of the following are benefits of the database approach except:

A) Data integration and sharing

B) Decentralized management of data

C) Minimal data redundancy

D) Cross-functional analysis and reporting

9) The physical view of a database system refers to

A) how a user or programmer conceptually organizes and understands the data.

B) how the DBMS accesses data for a certain application program.

C) how and where the data are physically arranged and stored.

D) how master files store data values used by more than one application program.

10) The ________ handles the link between the way data are physically stored and each user’s logical view of that data.

A) data warehouse

B) data dictionary

C) database management (DBMS) software

D) schema

11) The logical structure of a database is described by the

A) data dictionary.

B) schema.

C) database management system.

D) internal level.

12) 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.

13) A set of individual user views of the database is called the

A) conceptual-level schema.

B) internal-level schema.

C) external-level schema.

D) meta-schema.

14) A low-level view of the database that describes how the data are actually stored and accessed is the

A) conceptual-level schema.

B) subschema.

C) internal-level schema.

D) external-level schema.

15) Record layouts, definitions, addresses, and indexes will be stored at the ________ level schema.

A) external

B) conceptual

C) internal

D) meta

16) The ________ contains information about the structure of the database.

A) data definition language

B) data dictionary

C) data warehouse

D) database management system

17) Which of the following would not be found in a data dictionary entry for a data item?

A) records containing a specific data item

B) physical location of the data

C) source of the data item

D) field type

18) The data dictionary usually is maintained

A) automatically by the DBMS.

B) by the database administrator.

C) by the database programmers.

D) by top management.

19) Reports produced using the data dictionary could include all of the following except a list of

A) programs where a data item is used.

B) synonyms for the data items in a particular file.

C) outputs where a data element is used.

D) the schemas included in a database.

20) Which statement below concerning the database management system (DBMS) is false?

A) The DBMS automatically creates application software for users, based on data dictionary parameters.

B) The DBMS automatically maintains the data dictionary.

C) Users’ requests for information are transmitted to the DBMS through application software.

D) The DBMS uses special languages to perform specific functions.

21) Which would not generally be considered a data dictionary output report?

A) A list of cash balances in the organization’s bank accounts

B) A list of all programs in which a data element is used

C) A list of all synonyms for the data elements in a particular file

D) A list of all data elements used by a particular user

22) Creating an empty table in a relational database requires use of the ________, and populating that table requires the use of ________.

A) DDL; DML

B) DQL; SQL

C) DDL; DQL

D) DML; DDA

23) When the human resources manager wants to gather data about vacation and personal day usage by employees and by departments, the manager would use which language?

A) Data Query Language

B) Data Manipulation Language

C) Data Report Language

D) Data Definition Language

24) If a national sales tax were implemented, which language would be used to add a new field in the sales table to track the sales tax due?

A) Data Definition Language

B) Data Manipulation Language

C) Data Query Language

D) Data Update Language

25) The feature in many database systems that simplifies the creation of reports by allowing users to specify the data elements desired and the format of the output. is named the

A) report writer.

B) report generator.

C) report creator.

D) report printer

26) The abstract representation of the contents of a database is called the

A) logical data model.

B) data dictionary.

C) Physical view.

D) schema.

27) The problem of changes (or updates) to data values in a database being incorrectly recorded is known as

A) an update anomaly.

B) an insert anomaly.

C) a delete anomaly.

D) a memory anomaly.

28) The potential inconsistency that could occur when there are multiple occurrences of a specific data item in a database is called the

A) update anomaly.

B) insert anomaly.

C) inconsistency anomaly.

D) delete anomaly.

29) Inability to add new data to a database without violating the basic integrity of the database is referred to as the

A) update anomaly.

B) insert anomaly.

C) integrity anomaly.

D) delete anomaly.

30) A relational database in which customer data is not maintained independently of  sales invoice data will most likely result in

A) an update anomaly.

B) an insert anomaly.

C) a delete anomaly.

D) an integrity anomaly.

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ACC 564 Week 10 Assignment 4 – Changing the Accounting Information System

Migrating to a new accounting information system is not an easy task. Many firms have struggled with this process, even though our textbook makes the process seem quite straightforward. Recently, IBM recapped some of the lessons learned in migrating to a new accounting information system within the federal government. These lessons can be applied to any accounting information system project. Others have developed their own recommendations for best practices and lessons learned involving implementing accounting information systems. However, in order to appreciate what IBM and others are proposing, we need to apply lessons learned to a real-life situation involving the failure to implement an accounting system properly.

For this assignment, research the Internet or Strayer databases for information related to a real-life accounting information system failure and best practices, as well as lessons learned from implementing the accounting system. In addition to information that you may find during your research, please use the following IBM article to complete the assignment: (http://www.businessofgovernment.org/article/what-we- know-now-lessons-learned-implementing-federal-financial-systems-projects).

Write a ten to twelve (10-12) page paper in which you:

1. Identify three to five (3-5) factors that contributed to the accounting information system failure within the business that you have identified. Indicate the impact to the business. Provide support for your rationale.
2. Assess senior management responsibility for the failure in question. Specify what the senior management could have done differently to avoid the failure. Provide support for your rationale.
3. Evaluate whether the most significant failure occurred within the system design, implementation, or operational phase of the process. Indicate what the company could have done to avoid the failed outcome. Provide support for your rationale.
4. Evaluate how implementing best practices would have reduced the chances for failure. Provide support for your rationale.
5. Based on your research, develop a list of between four (4) and six (6) best practices that organizations should use today to reduce the chances for failure. Provide support for your rationale.
6. Using the information provided by IBM and others, indicate which of the principles designed to provide insight into effective and efficient strategies on how to best deploy financial management systems, which were outlined within the related article, should serve as an example of what not to do when establishing the foundation for a firm to follow. Your proposed foundation should consist of at least two (2) principles, but no more than six (6). Provide support for your rationale.
7. Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.

Your assignment must follow these formatting requirements:

 • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

 • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

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ACC 564 Week 11 – Final Exam

1) The general ledger and reporting system consists of the ________ involved in ________ the general ledger and ________ reports.

A) business transactions; updating; processing

B) data processing; business transactions for; printing

C) information processing; updating; creating

D) business transactions; data processing; preparing

2) Which item below is not considered a major input to the general ledger and reporting system?

A) summary entries from the major subsystems

B) reports from managers

C) adjusting entries

D) financing and investing activities

3) Who provides the adjusting entries for a well-designed general ledger and reporting system?

A) various user departments

B) the treasurer’s area

C) the other major AIS subsystems

D) the controller’s area

4) The general ledger and reporting system is designed to provide information for which of the following user groups?

A) internal users

B) external users

C) inquiry processing by internal or external users

D) all of the above

5) The general ledger system of an organization should be designed to serve the information requirements of both internal and external users. This means that the system should support

A) producing expansive regular periodic reports to cover all information needs.

B) the real-time inquiry needs of all users.

C) producing regular periodic reports and respond to real-time inquiry needs.

D) access by investors and creditors of the organization to general ledger balances.

6) How is general ledger updating accomplished by the various accounting subsystems?

A) Individual journal entries for each accounting subsystem transaction update the general ledger every 24 hours.

B) Summary journal entries that represent the results of all transactions for a certain time period are used to update the general ledger.

C) The controller or treasurer must approve accounting subsystem journal entries before any updating may occur.

D) Nonroutine transactions are entered into the system by the treasurer’s office.

7) When updating the general ledger, sales, purchases, and production are examples of ________ entries, and issuance or retirement of debt and the purchase or sale of investment securities are examples of ________ entries.

A) adjusting; controller originated

B) accounting subsystem; treasurer originated

C) adjusting; special journal

D) controller generated; special journal

8) Entries to update the general ledger are often documented by which of the following?

A) general journal

B) subsidiary journal

C) subsidiary ledgers

D) journal vouchers

9) Adjusting entries that reflect events that have already occurred, but for which no cash flow has taken place are classified as

A) accruals.

B) deferrals.

C) revaluations.

D) corrections.

10) Recording interest earned on an investment is an example of which type of adjusting journal entry?

A) accrual entry

B) deferral entry

C) revaluation entry

D) correcting entry

11) An adjusting entry made at the end of an accounting period that reflects the exchange of cash prior to performance of a related event is classified as a(n)

A) accrual entry.

B) deferral entry.

C) revaluation entry.

D) correcting entry.

12) Depreciation expense and bad debt expense are examples of which type of adjusting journal entry?

A) deferrals

B) accruals

C) revaluations

D) estimates

13) Adjusting entries that are made to reflect differences between the actual and recorded value of an asset or a change in accounting principle are called

A) reconciliations.

B) revaluations.

C) estimates.

D) accruals.

14) Adjusting entries that are made to counteract the effects of errors found in the general ledger are called

A) accruals.

B) corrections.

C) deferrals.

D) estimates.

15) Corrections are entries made to correct errors found in ________.

A) all journals

B) special journals

C) the general ledger

D) the financial statements

16) Immediately after the adjusting entries are posted, the next step in the general ledger and reporting system is to prepare

A) an adjusted trial balance.

B) closing entries.

C) financial statements.

D) an unadjusted trial balance.

17) Financial statements are prepared in a certain sequence. Which statement is prepared last in the sequence?

A) the adjusted trial balance

B) the income statement

C) the balance sheet

D) the statement of cash flows

18) A listing of journal vouchers by numerical sequence, account number, or date is an example of

A) a general ledger control report.

B) a budget report.

C) a batch to be processed.

D) responsibility accounting.

19) If you believe not all adjusting entries were posted in the general ledger, you should prepare a general ledger control report listing journal vouchers in

A) numerical sequence.

B) chronological order.

C) general ledger account number order.

D) any order, since you have to review them all anyway.

20) If you believe a general ledger account was not adjusted properly or at all, you should prepare a general ledger control report listing journal vouchers in

A) numerical sequence.

B) chronological order.

C) general ledger account number order.

D) any order, since you have to review them all anyway.

21) The managerial report that shows planned cash inflows and outflows for major investments or acquisitions is the

A) journal voucher list.

B) statement of cash flows.

C) operating budget.

D) capital expenditures budget.

22) The operating budget

A) compares estimated cash flows from operations with planned expenditures.

B) shows cash inflows and outflows for each capital project.

C) depicts planned revenues and expenditures for each organizational unit.

D) is used to plan for the purchase and retirement of property, plant, and equipment.

23) Budgets and performance reports should be developed on the basis of

A) responsibility accounting.

B) generally accepted accounting principles.

C) financial accounting standards.

D) managerial accounting standards.

24) Performance reports for cost centers should compare actual versus budget ________ costs.

A) controllable

B) uncontrollable

C) fixed

D) variable

25) Performance reports for sales deparments should compare actual versus budget

A) revenue.

B) cost.

C) return on investment.

D) profit.

26) Departments that mostly provide services to other units and charge those units for services rendered should be evaluated as ________ centers.

A) cost

B) profit

C) investment

D) revenue

27) As responsibility reports are rolled up into reports for higher level executives, they

A) become less detailed.

B) become more detailed.

C) become narrower in scope.

D) look about the same.

28) Variances for variable costs will be misleading when the planned output differs from budgeted output. A solution to this problem would be

A) calling all costs fixed.

B) to use flexible budgeting.

C) better prediction of output.

D) to eliminate the budgeting process.

29) Concerning XBRL, which of the following statements is not true?

A) XBRL is a variant of XML.

B) XBRL is specifically designed for use in communicating the content of financial data.

C) XBRL creates unique tags for each data item.

D) XBRL’s adoption will require accountants and systems professionals tag data for their clients.

30) The benefits of XBRL include:

A) organizations can publish financial information only once, using standard XBRL tags.

B) tagged data is readable and interpretable by computers, so users don’t need re-enter data into order to work with it.

C) Both are benefits of XBRL.

D) Neither are benefits of XBRL.

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