entered into the information system’s access control matrix. 4) Defense in Depth: Employ multiple layers of controls in oorder to avoid having a single point of failure 5) Firewall: A special purpose hardware device or software running on a general purpose computer‚ which filters information that is allowed to enter and leave the organization’s information system. 6) TCP/IP: The Transmission Control Protocol specifies the procedures for dividing files and documents into packets to be sent
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ACC 290 Final Exam Study Guide Let’s get started… Q 8 – Under IFRS Comparative prior-period information must be presented and financial statements must be provided annually. Explanation: See IFRS financial reporting requirement here: http://www.iasplus.com/en/standards/ias/ias1 Q 10 - Similarities between International Financial Reporting Standards (IFRS) and U.S. GAAP include all of the following except: Both IFRS and U.S. GAAP allow revaluation of items such as land and buildings to fair
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My Career Choice in Accounting Salina Solano Everest University The economy has fallen and risen dramatically throughout the years. Businesses have gone bankrupt and factories have shut down‚ new companies have sprung up and retailers have expanded; but what once only required training and dedication‚ now requires a degree and at least one year’s experience. Out of all of the careers that are out there; I believe that accounting has been a consistent field within the workforce due to the high
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Purpose of the System Connects With Development Details Finance & Accounting Systems Application is licensed on an annual per user basis from a vendor specializing in F & A systems for the transportation industry Finance and Accounting Systems General ledger Accounts Payable Accounts Receivable Cash Management Billing/Invoicing Credit/Collections Costing Property Management Assets Taxes Integrated with the Fleet Maintenance System and the Enterprise Transportation Application Maintenance costing Fuel
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Activity Based Costing [pic] Overview of Activity Based Costing Activity-based costing (ABC) is a methodology for more precisely allocating overhead to those items that actually use it. ABC works best in complex environments‚ where there are many machines and products‚ and tangled processes that are not easy to sort out. Problems with Activity Based Costing Many companies initiate ABC projects with the best of intentions‚ only to see a very high proportion of the projects either fail‚
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the assistant controller must evaluate their position and duties within the organization by following the principles of control. The establishment of responsibility in this case is Lisa Lucena‚ the assistant controller that is in charge of the general ledger accounting at Riverside Company‚ and Gena Schmitt‚ the financial vice president. As a result of any decision made by the assistant controller‚ will affect the assistant controller Lisa but not necessarily affect Gena Schmitt. Gena does not have
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DRIVE BK ID Q.No 1 2 ASSIGNMENT FALL 2014 MBA/ MBADS/ MBAFLEX/ MBAHCSN3/ PGDBAN2 1 MB0041 FINANCIAL AND MANAGEMENT ACCOUNTING B1624 4 60 Questions Marks Analyze the following transaction under traditional approach. 18.1.2011 Received a cheque from a customer‚ Sanjay at 5 p.m. Rs.20‚000 19.1.2011 Paid Ramu by cheque Rs.1‚50‚000 20.1.2011 Paid salary Rs. 30‚000 20.1.2011 Paid rent by cheque Rs. 8‚000 21.1.2011 Goods withdrawn for personal use Rs. 5‚000 25.1.2011 Paid an
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documents for specific types of transactions. The correct answer is: a central database in which to input information Question 3 Incorrect Mark 0.00 out of 1.00 Flag question Question text A likely example of a transaction that may appear in the general journal because it does not occur frequently enough to have its own special journal would be: Select one: a. depreciation b. credit sales c. cash sales d. inventory purchases Feedback Explanation: Credit sales and cash sales appear on the
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Auditing Case study Answers to case study: 1. What are the auditor ’s primary objectives when he or she observes the client ’s annual physical inventory? Ans. The Primary Objective of auditor is to make sure the inventory reflected on the balance sheet actually exists and that the balance sheet includes all inventory owned by the company .This includes all raw material‚supplies‚inventory in transit.The company may have on consignment with another business and inventory stored off the
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Ch 8: Financial Reporting and Management Reporting System GL master ledger: the principal file in the GLS database. Based on chart of accounts. FRS draws upon GL master to produce the firm’s financial statements General ledger history file and journal voucher history file- prior period info Responsibility center file: contains revenues‚ expenditures‚ and other resource utilization data for each responsibility center in the organization (used for responsibility reports) Budget master file: contains
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