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CIS Flashcards

1
Q

Gather and analyze facts about problems with current system and formulate solution

A

Systems Professionals

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2
Q

Primary users needs are solicited

A

End Users (Managers, Operations Personnel, Accountants, Internal Auditors)

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3
Q

Individuals who have an interest in the system but are not end users

A

Stakeholders (Accountants, Internal and external Auditors)

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4
Q

Readily available
and readily use of software system.

A

Turnkey Systems (Commercial Systems)

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5
Q

You need to further edit but it has it’s own accounting system.

A

General Accounting systems (Commercial Systems)

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6
Q

You can acquire what you need, there is only certain item in general accounting system.

A

Special purpose systems (Commercial Systems)

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7
Q

Moving from one system to another without human intervention.

A

Office Automation systems (Commercial Systems)

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8
Q

Doesn’t have items, only has modules.

A

Backbone systems (Commercial Systems)

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9
Q

there is a supporting vendor when making the system.

A

Vendor Supported systems (Commercial Systems)

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10
Q

Advantages of Commercial Software

A

Implementation Time
Cost
Reliability

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11
Q

Disadvantages of Commercial Software

A

Independence
The need for customized systems (becomes dependent on vendor)
Maintenance

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12
Q

Links individual projects or applications to the strategic objectives of the firm.

A

Systems Planning

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13
Q

allocation, processing, budgeting, informed decisions by systems specialists

A

Strategic Systems Planning

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14
Q
  • Authorizing development of new systems
  • Addressing and documenting user needs
  • Technical design phases
  • Participation of internal auditors
  • Testing program modules before
    implementing
    o Testing individual modules by a team of
    users, internal audit staff, and systems
    professionals
A

Systems Development Activities

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15
Q

develop in existing technology

A

Technical Feasibility

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16
Q

availability of
funds

A

Economic Feasibility

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17
Q

conflicts between conceptual concept & discharge liabilities

A

Legal Feasibility

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18
Q

Compatibility

A

Operational Feasibility

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19
Q

ability to implement within acceptable time

A

Schedule Feasibility

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20
Q

Data Source
Data Flows
Error Rates
Data Stores
Controls
Resource Costs
Data Processes
Transaction Volumes
Bottlenecks and Redundant Operations

A

Gathering Facts and Facts Gathering Techniques

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21
Q

PHASE 1 (Phases and Associated Documentation)

A

Systems Planning

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22
Q

PHASE 2 (Phases and Associated Documentation)

A

Systems Analysis

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23
Q

PHASE 3 (Phases and Associated Documentation)

A

Conceptual System Design

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24
Q

ITERATIVE APPROACH

A

reduced time for cost development, maintenance, testing and improved user support & flexibility

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25
Q

PHASE 4 (Phases and Associated Documentation)

A

System and Evaluation and Selection

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26
Q

PHASE 5 (Phases and Associated Documentation)

A

Detailed Design

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27
Q

PHASE 6 (Phases and Associated Documentation)

A

Application Programming and Testing

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28
Q

PHASE 7 (Phases and Associated Documentation)

A

System Implementation (Go Live)

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29
Q

PHASE 8 (Phases and Associated Documentation)

A

Systems Maintenance

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30
Q

where application program source code are stored

A

Source Program Library Controls

31
Q

An economic event that affects the assets and equities of the firm, is reflected in its accounts, and is measured in monetary terms.

TYPES:
o the expenditure cycle
o the conversion cycle
o the revenue cycle

A

Financial Transaction

32
Q

time lag between the two due to credit relations with suppliers

A

Expenditure Cycle

33
Q

the production system (planning, scheduling, and control of the physical product through the manufacturing process)

A

Conversion Cycle

34
Q

monitors the flow of cost information related to production

A

Cost Accounting System

35
Q

time lag between the two due to credit relations with customers

A

Revenue Cycle

36
Q

used to capture and formalize transaction data needed for transaction processing

A

Source Documents (Manual System Accounting Records)

37
Q

the result of transaction processing

A

Product Documents (Manual System Accounting Records)

38
Q

a product document of one system that becomes a source document for another system

A

Turnaround Documents (Manual System Accounting Records)

39
Q

a record of chronological entry

A

Journals (Manual System Accounting Records)

40
Q

specific classes of transactions that occur in high frequency

A

Special Journals

41
Q

nonrecurring, infrequent, and dissimilar transactions

A

General Journal

42
Q

a book of financial accounts

43
Q

shows activity for each account listed on the chart of accounts

A

General Ledger

44
Q

shows activity by detail for each account type

A

Subsidiary Ledger

45
Q

generally contains account data (e.g., general ledger and subsidiary file)

A

Master File

46
Q

a temporary file containing transactions since the last update

A

Transaction File

47
Q

contains relatively constant information used in processing (e.g., tax tables, customer addresses)

A

Reference File

48
Q

contains past transactions for reference purposes

A

Archive File

49
Q

Five common documentation techniques:

A

o Entity Relationship Diagram
o Data Flow Diagrams
o Document Flowcharts
o System Flowcharts
o Program Flowcharts

50
Q

is a documentation technique to represent the relationship between entities in a system.

A

Entity Relationship Diagram (ERD)

51
Q

Widely
used in AIS. REA uses 3 types of entities:
o resources (cash, raw materials)
o events (release of raw materials into
the production process)
o agents (inventory control clerk,
vendor, production worker)

A

The REA model version of ERD

52
Q
  • use symbols to represent the processes, data sources, data flows, and entities in a system
  • represent the logical elements of the system
  • do not represent the physical system
A

Data Flow Diagrams (DFD)

53
Q
  • illustrate the relationship among processes and the documents that flow between them
  • contain more details than data flow diagrams
  • clearly depict the separation of functions in a system
A

Documents Flowcharts

54
Q
  • are used to represent the relationship between the key elements–input sources, programs, and output products–of
    computer systems
  • depict the type of media being used (paper, magnetic tape, magnetic disks, and terminals)
  • in practice, not much difference between document and system flowcharts
A

System Flowcharts

55
Q

illustrate the logic used in problems

A

Program Flowcharts

56
Q
  • client-server based and process
    transactions in real time
  • use relational database tables
  • have high degree of process
    integration and data sharing
  • some are mainframe based and use
    batch processing
    Some firms employ legacy systems for
    certain aspects of their data processing.
  • Accountants need to understand
    legacy systems.
    Legacy systems charac
A

Modern systems

57
Q
  • mainframe-based applications
  • batch oriented
  • early legacy systems use flat files for
    data storage
  • later legacy systems use hierarchical
    and network databases
  • data storage systems promote a
    single-user environment that
    discourages information integration
A

Legacy systems

58
Q

assemble transactions
into groups for processing. Under this
approach, there is always a time lag
between the point at which an economic
event occurs and the point at which it is
reflected in the firm’s accounts.

A

Batch Systems

59
Q

process
transactions individually at the moment
the event occurs. Because records are
not grouped into batches, there are no
time lags between occurrence.

A

Real-time Systems

60
Q

A batch is a group of similar transactions
that are accumulated over time and then
processed together.
* The transactions must be independent of
one another during the time period over
which the transactions are accumulated
in order for batch processing to be
appropriate.
* A time lag exists between the event and
the processing

A

Batch Processing

61
Q

source documents are
transcribed by clerks to magnetic tape for
processing later

A

Keystroke (1)

62
Q
  • identifies clerical errors in the
    batch and places them into an error file
A

Edit Run (2)

63
Q

places the transaction file in
the same order as the master file using a
primary key

A

Sort Run (3)

64
Q

changes the value of
appropriate fields in the master file to
reflect the transaction

A

Update Run (4)

65
Q

the original master
continues to exist and a new master file is
created

A

Backup Procedure (5)

66
Q
  • process transactions individually at the
    moment the economic event occurs
  • have no time lag between the economic
    event and the processing
  • generally require greater resources than
    batch processing since they require
    dedicated processing capacity; however,
    these cost differentials are decreasing
  • oftentimes have longer systems
    development time
A

Real-Time Systems

67
Q

DATA CODING SCHEMES

A
  • SEQUENTIAL CODES
  • BLOCK CODES
  • GROUP CODES
  • ALPHABETIC CODES
  • MNEMONIC CODES
68
Q

FINANCIAL REPORTING PROCESS

A
  • Capture Transactions.
  • Record the Special Journal.
  • Post to Subsidiary Ledger.
  • Post to General Ledger.
  • Prepare the unadjusted trial balance.
  • Make Adjusting Entries.
  • Journalize & post adjusting entries.
  • Prepare the trial balance.
  • Prepare the FS.
  • Journalize & post closing entries.
  • Prepare the post-closing trial balance.
69
Q

listing of transactions
o allocation of expenses to cost
centers
o comparison of account balances
from prior periods
o trial balances

A

General ledger analysis:

70
Q

o balance sheet
o income statement
o statement of cash flows

A

Financial statements:

71
Q

o analysis of sales
o analysis of cash
o analysis of receivables

A

Managerial Reports

72
Q

coded listing of
accounts

A

Chart of accounts

73
Q

is an XML-based language for
standardizing methods for preparing,
publishing, and exchanging financial
information, e.g., financial statements.

CIS AUDIT (1 decks)

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