Learning Team Assignment: Accounting Cycle Description Paper Click the Virtual Organization link on the student website to access company information on Riordan Manufacturing. Then, select one of the accounting cycles. This selection is the basis of this and subsequent Learning Team assignments, so obtain faculty approval for your selection Write a 1,050- to 1,400-word paper addressing the following: Identify the five accounting cycles and explain how this organization uses the accounting cycle you have selected. o Comment on the strengths and weaknesses of the internal controls related to this cycle. o Explain how you would integrate this part of the accounting cycle into an enterprise-wide accounting information system.
Individual Assignment: Assignments From the Readings • Write a response to the following assignment from the Core Concepts of Accounting Information Systems text: o Chapter 3: Case Analyses (The Dinteman Company) • Format your response consistent with APA guidelines.
Individual Assignment: The Effects of Technology on the Accounting Profession Paper Write a 700- to 1,050-word paper describing how information systems are changing the various aspects of the accounting profession. Include a description of a variety of new technologies and their effects on accounting processes. Discuss how these technologies have changed the way accounting is performed at your organization or at an organization of your choosing. Cite at least two sources in your paper. Format your paper consistent with APA guidelines
Multiple-Choice Questions 1. The process by which a financial transaction is recorded so that its flow through the system can be followed is called: a) Financial shadowing b) Managerial trace technique c) Concatenation d) Audit trail 2. Justifying expenditures for new technologies is especially difficult because: a) You do not know how many jobs will be affected b) Expenses are often recurring and are difficult to estimate c) Many benefits are intangible and are not easily known or measured d) Justifying a new technology is no different from any other capital budgeting problem 3. The essential steps in performing a systems study are (in order of occurrence): a) Analysis, design, implementation and initial operation, follow up b) Design, planning, follow up, analysis, and implementation c) Planning, system specification, analysis, production, implementation d) Planning, analysis, design, implementation, and follow up 4. What is the first step to be performed by most organizations in their accounting cycles? a) Recording business transactions in a journal b) Preparing a trial balance c) Recording closing entries in a journal d) Preparing transaction source documents e) none of the above 5. Which systems study step is normally performed first? a) Design b) Initial operation c) Follow up d) Analysis e) none of the above 6. The purpose of a company firewall is to: a) Guard against spoofing b) Assist the IETF c) Deny computer hackers access to sensitive data d) all of the above 7. The term data encryption refers to: a) Storing data in safe places called “crypts” b) Transforming data into secret codes c) Scrambling data in random ways that cannot be unscrambled d) none of these 8. An advantage of an extranet is that: a) It can disseminate information corporate wide
Prepare written responses to the following problems from Managerial Accounting: Tools for Business Decision Making: Ch. 8 – Problem P8-2A Ch. 11 – Problem P11-4A
Prepare written responses to the following assignments from Managerial Accounting: Tools for Business Decision Making: Ch. 8 – Exercises E8-11 Ch. 9 – Brief Exercises BE9-6 and BE9-8 Ch. 11 – Questions 2 and 11 Ch. 11 – Exercise E11-6
What is the difference between external and internal pricing? What factors must be considered when setting internal transfer pricing between divisions of a company? What are the different methods of setting internal transfer pricing? Which is the most effective? Why?
What is a master budget? What are some of the underlying budgets that form the master budget? What is the budgeting process at your organization? Is it effective? Why or why not?
Prepare written responses to the following problems from Ch. 7 of Managerial Accounting: Tools for Business Decision Making: Problem P7-1A
Prepare written responses to the following case study from Ch. 6 of Managerial Accounting: Tools for Business Decision Making: Managerial Analysis BYP 6-2
Prepare written responses to the following assignments from Managerial Accounting: Tools for Business Decision Making: Ch. 5 – Exercises E5-1 and E5-9 Ch. 6 – Exercises E6-7 and E6-10
When should variances be investigated? Who should be responsible for correcting a negative variance? Why? What are some factors that can lead to variances? How can variances be corrected?
What are some of the advantages and disadvantages of standard costs? How do managers determine what the standard cost should be? Describe the effect of inaccurate standard costs on financial reporting.