Accounting information system-study guide

Topics: Output, Input/output, Committee of Sponsoring Organizations of the Treadway Commission Pages: 4 (621 words) Published: February 16, 2014
1. Discuss the origins of the technology make the current accounting system available.

2. Define an accounting system.

An accounting system is a system that identifies, records, communicates information that is relevant, reliable, and comparable about an organizations business activities.

3. List and describe the components of accounting information system.

Technology
People
Data
Input and Output
Internal Control

4. Discuss the FASB conceptual framework.

Assets: A resource that has probable future economic value
Liabilities: Obligations of the business to pay money or provide service Equity: The owners' claims on the assets
Revenue: Resources earned when the business provides goods or services Expense: The costs of earning revenue; services received or used up assets other than cash Gains: Increases in equity from incidental transactions

Losses: Decreases in equity from incidental transactions
Comprehensive income: All changes in equity other than investments by and distributions to owners

5. List and discuss the 3 IT governance issues addressed by OXLEY and COSO framework.

6. List and discuss the components of COSO system.

7. Compare and construct 2 IT organizational structure.

Centralized Data Processing Model: The process is running on one computer, and Distributed Data Processing Model: Net of computers.

8. Discuss the computer operation center. Where should it be located? How should it be constructed? How should we control access?

We need to try as much as possible to avoid human made and nature disasters. Should be a single story for facility, with underground utility coming to that, we don’t want windows, we want good air frustration systems, we want to control physical assess through locked doors, keys, swipe card. Have cameral and log to record. We need good clement control.

9. List and discuss the items should be identified in disaster recovery plan.

Actions that we will take...
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