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Accounting Information Systems > Final Exam Chapter 9 > Flashcards

Final Exam Chapter 9 Flashcards

1
Q

is a recurring set of business activities and related information processing operations associated with purchasing goods and services, and paying for those goods and services

A

expenditure cycle

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2
Q

what do you do if you are having problems with inaccurate or invalid master data

A

employee data processing integrity controls
restrict access to master data
review all changes to master data

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3
Q

what do you do if you are having problems with unauthorized disclosure of sensitive information

A

use physical and logical access controls and encrypt data

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4
Q

what do you do if you are having problems with loss of destruction of data

A

back up data regularly

implement a disaster recovery plan

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5
Q

what do you do if you are having problems with poor performance

A

use managerial reports to evaluate company and individual performance

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6
Q

trigger purchase requisition generate purchase order

A

ordering goods and services

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7
Q

accept delivery, count and inspect goods

A

reviewing and storing goods

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8
Q

approve vendor invoices and pay vendor invoices

A

paying for goods and services

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9
Q

paper document or electronic form that formally requests a supplier to sell and deliver specified products at specified prices

A

purchase order

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10
Q

committed to purchase specified items at a designated price from a particular supplier for a set period of time

A

blanket purchase order

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11
Q

paper document or electronic form that tells you who is requesting the goods where and when they should be delivered, the quantity of the items and department number and account number to be charged

A

purchase requisition for goods

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12
Q

what can you included to make ordering items more efficient

A

EDI to transmit purchase orders vendor managed inventory systems reverse auctions and pre award audits

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13
Q

what can you do to help prevent inaccurate inventory records

A

use perpetual inventory method
use barcodes and RFID tags
conduct periodic physical counts of inventory

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14
Q

what do you do to prevent purchasing items that are not needed

A

us the perpetual inventory method
review and approve purchase requisitions
centralize the purchasing function

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15
Q

whatdo you do to prevent purchasing goods at inflated prices

A

store and consult price lists for frequently purchased items
solicit competitive written bids for high cost and specialized products
review purchase orders to ensure policies have been followed
use budgetary controls

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16
Q

what can you do to prevent purchasing goods of inferior quality

A

purchase only from approved suppliers
review and approve purchase form new suppliers
hold purchasing managers responsible for rework and scrap costs
track and monitor product quality by supplier

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17
Q

what can you do to prevent purchasing from unreliable suppliers

A

require suppliers to possess quality certification

collect and monitor supplier delivery performance data

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18
Q

what can you do to prevent purchasing form unauthorized suppliers

A

maintain a list of approved suppliers
configure the system to permit purchase orders only to approve suppliers
review and approve purchase form new suppliers
employ EDI specific controls for purchase orders

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19
Q

how do you prevent kickbacks from suppliers

A

require purchasing agents to disclose financial and personal interests suppliers
prohibit purchasing agents from accepting any gifts from potential existing suppliers
train employees in how to respond to offers of gifts from suppliers
rotate job duties
require vacation leave
conduct supplier audits

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20
Q

what do you do about accepting unordered items

A

require existence of an approved purchase order prior to accepting any delivery

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21
Q

what do you do to prevent mistakes in counting

A

do not inform the receiving employees about the quantity ordered
require the receiving employees to sign receiving reports to create accountability
offer incentives for catching discrepancies
document transfer of goods to inventory
use bar codes or RFID tags
configure system to flag discrepancies between received and ordered quantities

22
Q

what do you do to verify receipt of services

A

hold supervisors responsible for all costs
compare actual v. budgeted expenses and investigate discrepancies
conduct periodic reviews of contracts for services including audits of supplier records

23
Q

what do you do to in the case of theft of inventory

A

restrict physical access to inventory
document all transfers of inventory between receiving and inventory employees
conduct periodic physical counts of inventory and reconcile to recorded quantities
segregate inventory receiving recording and custody functions

24
Q

what do you do in the case of errors in supplier invoices

A

verify the mathematical accuracy of the invoices
require detailed receipts for procurement cards and verify monthly statement accuracy
use an ERS system
restrict access to the supplier master data
verify accuracy of freight charges

25
Q

what do you do if you are having mistakes in a/p

A

use appropriate data entry and processing controls

reconcile subsidiary accounts payable records with the general control account

26
Q

what do you do if you are having problems with taking advantage of discounts for prompt payment

A

file invoices by due date of discounts
design systems to track due dates
prepare cash flow budgets

27
Q

what do you do if you are having problems paying for items not yet recieved

A

require that all suppler invoices be matched to supporting documents from both the receiving and inventory control departments
for services have tight budgetary controls and carefully review departmental expenses
Require receipts for travel expenses
use corporate credit cards for travel expenses

28
Q

what do you do if you are having problems with duplicate payments

A

require a complete voucher package for all payments

cancel all supporting documents when a payment is made

29
Q

what do you do if you are having theft of cash problems

A

restrict physical access to cash, blank checks and check signing machines
have checks numbered sequentially and periodically accounted for by the cashier
segregations of duties
require 2 signatures
restrict access to the approved supplier list
have an independent party reconcile bank statements

30
Q

how do you deal with the theft of petty cash

A

handled by an employee who has no other cash handling or accounting responsibilities
set up an imprest fund
cancel the vouchers when the fund is replenished
audit the fund on a surprise basis and hold the person in charge of the fund responsible for shortages

31
Q

how do you deal with Electronic funds transfer fraud

A

use strict physical and logical access controls
log user and location of originating terminal
encrypt all transactions
use embedded audit modules to electronically monitor the transactions and flag suspicious items
use a dedicated computer and browser for online banking
place ACH blocks on accounts not used for payments

32
Q

how do you deal with check alterations

A

use check protection machines that imprint amounts
use inks that are difficult to alter
print checks on watermarked paper
set up a positive pay arrangement with the bank
do a bank reconciliation promptly

33
Q

attributes about an entity

A

field

34
Q

related group of fields

A

record

35
Q

related group of records

A

file

36
Q

related group of files

A

database

37
Q

fles are logically compinedes and made accessible to various systems

A

data integrations

38
Q

with data in one place it is more easily accessed by authorized users

A

data sharing

39
Q

eliminates the same data being stored in multiple files thus reducing inconsistency in multiple versions of the same data

A

minimizing data redundancy and data inconsistency

40
Q

data is separate from the programs that access it changes can be made to the data without a change in the programs and vice versa

A

data independence

41
Q

relationships between data from various organizational department can be more easily combined

A

cross-functional analysis

42
Q

interface between software applications and the data in files

A

database management systems

43
Q

person responsible for maintaining the data base

A

database administrator

44
Q

information about the structure of the database

A

data dictionary

45
Q

depends on explicitly knowing how the data is actually arranged in a file and where the data is stored on the computer

A

physical view

46
Q

a schema separates storage of data from use of the data and unnecessary to explicitly know how and where data is sotred

A

logical view

47
Q

an attribute or combination of attributes that can be used to uniquely identify a specific row in a table

A

primary key

48
Q

an attribute in one table that is a primary key in another table

A

foreign key

49
Q

changes to existing data are not correctly recorded due to multiple records with the sam data attributes

A

update anomaly

50
Q

unable to add a record to the data base

A

insert anomaly

51
Q

removing a record also removes unintended data from the database

A

delete anomaly

52
Q

4 requirements for a rational database

A
  1. every column must be single valued
  2. primary keys must contain data
  3. foreign keys must contain the same data as the primary key in another table
  4. all other attributes must identify a characteristic of the table identified by the primary key

Accounting Information Systems (3 decks)

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