study guide ACC

Topics: Internal control, Sarbanes–Oxley Act, Fraud deterrence Pages: 4 (639 words) Published: October 13, 2014
ACC 444 Exam 1 Guide

Summary of Questions (approximate):

Topic
# Multiple Choice Questions
(2 pts each)
Total
Points

Business Process Overview
9

Computer Fraud & Abuse
16

Internal Control Systems
25

Total # questions
50
100

Study Guide

While there couldbe questions from other topics discussed in class, themain emphasis will be on the following subject matter:

Business Process Overview
The “transaction cycles” approach
The data processing model

Computer Fraud& Abuse
The fraud process – commit, conceal, & convert
The fraud triangle
The three types of fraud
Computer fraud techniques

Internal Control Systems
Internal Environment – the key aspects
Risk Assessment process, including cost-benefit analysis
Risk response - types
Control Activities – types
Segregation of Duties – understanding the true nature of custody, recording and authorizing functions Segregation of IS duties
The Nature of Preventive, Detective, & Corrective Controls
Sarbanes Oxley requirements pertaining to internal controls

Additional Preparation Tools:
Quiz in textbook – chapter end,
Online Textbook Quiz (http://wps.pearsoned.com/bp_romney_ais_13/244/62562/16015892.cw/index.html),select “Study Guide” for each relevant chapter to get to that chapter’s online quiz. Homeworks, in-class exercises and additional problems discussed in class

Sample Questions (Answer Key on the last page)

1) One element of the COSO-ERM framework is risk assessment. Suppose a company estimates that there is a 2% probability that a fire would destroy its main data center, and that it would cost $3,000,000 to replace the data center. Which of the following is a proper description of the terms involved? a. Expected Loss is $3,000,000 and Impact is $60,000

b. Risk is 2% and Expected Loss is $3,000,000
c. Expected Loss is $60,000 and Impact is $3,000,000
d. Risk is 2% and Impact is $60,000

2) Segregation of Duties is an example of which type of...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • [BUNDLE] HRM 531 Week 1 – 6 All Team and Individual Study Guides Essay
  • ACC 561 Week 1-6 Entire Course ALL Study Guides Essay
  • ACC 309 Study Guide Essay
  • Study guide Essay
  • ACC 561 Final Exam Study Guide Essay
  • Acc 349 Study Guide Essay
  • Essay about ACC 491 Week 1-5 Entire Course ALL Study Guides
  • ACC 492 Week 1 Assignments From the Text Study Guide Essay

Become a StudyMode Member

Sign Up - It's Free