BFA504 - Accounting Systems and Processes - Accounting Assignment Help

Assignment Task -                 
 

Basic structure of your exam 

• The Exam will be online via MyLO. More information to  follow. 

• No requirement for webcam or lockdown browser (open book exam). 

• There are five case study questions

Section A 

• These are questions requiring you to apply your knowledge in  answering case study style questions. 

• Answers must be written (not dot points) and must  comprehensively answer the question asked. 

• There must be sufficient writing to answer the question. 

• Read the question carefully as to requirements as there may be  more than one answer required for each question. 

• All questions must be answered. 

Key Learning Points

• Overview of Accounting Information Systems (AIS) – Business Processes  and Enterprise Resource Planning Systems
• Systems documentation techniques & relational databases
• Information System (IS) Controls – Information Security, Confidentiality  and Privacy, Processing Integrity and Availability

Lecture Exercise 13.1 

Classify the following control activities as general or application and explain your  reasoning. 

a. Employees have a password to gain access to the system. b. When sales are entered the system retrieves customer details based on  the customer number. 

c. A check is performed to identify if all cheques can be accounted for. d. Systems development is subject to signoff by the CIO before it can take  place. 

e. Virus definitions are updated daily. 

f. The Sales Manager must approve all discounts for items sold below their  sticker price.

Lecture Exercise 13.2 

Rickards Ltd has hired you to review its system for the purchase, receipt, storage, and  issuance of raw materials. You observed the following: 

• Raw materials, which consist mainly of high-cost electronic components, are kept in  a locked storeroom. Storeroom personnel include a supervisor and four clerks. Raw  materials are removed from the storeroom only upon written or oral authorisation by  a production supervisor. 

• No perpetual inventory records are kept; hence, the storeroom clerks do not keep  records for goods received or issued. To compensate, the storeroom clerks perform  a physical inventory count each month. 

• After the physical count, the storeroom supervisor matches quantities on hand  against a predetermined reorder level. If the count is below the reorder level, the  supervisor enters the part number on a materials requisition list that is sent to the  accounts payable clerk. The accounts payable clerk prepares a purchase order for  each item on the list and mails it to the supplier from whom the part was last  purchased. 

• The storeroom clerks receive the ordered materials upon their arrival. The clerks  count all items and verify that the counts agree with the quantities on the bill of  lading. The bill of lading is then initialled, dated, and filed in the storeroom to serve  as a receiving report. 

Using this information and the system flowchart in the next slide, suggest changes to the  current system and procedures to overcome any issues noted. 

Lecture Exercise 13.3 

• You are a Finance Manager at a university, and have  been asked to take on the additional role of internal  auditing. You met with Jim White, the manager of  administrative data processing, and expressed the  desire to establish a more effective interface between  the two departments. Jim wants your help with a new  computerised accounts payable system currently in  development. He recommends that your department  assume line responsibility for auditing suppliers' invoices  prior to payment. He also wants internal auditing to  make suggestions during system development, assist in  its installation, and approve the completed system after  making a final review. 

Lecture Exercise 13.3 

Would you accept or reject each of the following? Why? 

a. The recommendation that your department be responsible  for the pre-audit of suppliers' invoices. 

b. The request that you make suggestions during system  development. 

c. The request that you assist in the installation of the system  and approve the system after making a final review.

This BFA504 - Accounting Assignment has been solved by our Accounting Experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment Experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.