HI5019: Marketing System - Strategic Information System for Business and Enterprise - Accounting and Finance Assignment Help

Assignment Task

Purpose: This assignment is designed to assess your level of knowledge of the key topics  covered in this unit 
Unit Learning Outcomes Assessed.: 
1. Critically evaluate the purpose and role of accounting information systems in today’s  business environment. 
2. Articulate the various transaction cycles, financial reporting, management reporting  systems and e-commerce systems to technical and non-technical stakeholders. 
3. Evaluate systems development methodologies and the role of accountants in system  development projects. 
4. Appraise the risks inherent in computer-based systems/ERP, including the role of ethics  and the various internal control processes that need to be in place. 
5. Critically evaluate the range of cultural, security, privacy and ethical issues facing  individuals and organizations as a result of information systems. 
Description: Each week students were provided with three tutorial questions of varying degrees  of difficulty. The tutorial questions are available in the Tutorial Folder, for each week, on  Blackboard. The Interactive Tutorials are designed to assist students with the process, skills, and  knowledge to answer the provided tutorial questions. Your task is to answer a selection of tutorial  question for weeks 1 to 11 inclusive and submit these answers in a single document.

Question 1: 
a) Internal controls play an important role in reducing the risks of fraudulent activities in any  organization. Further, advanced technology helps accountants in reducing fraud. Explain  how an advanced technology transaction processing system reduces fraudulent activities  from any organizing. [4 Marks. Words Limit: Up to 200 words] 
b) Refer to the given system flowchart, and we have discussed the control weakness and the  risk associated with these control weaknesses. Based on these control weaknesses and  the associated risk, what types of frauds are possible in this business environment.

Question 2: 
The flowchart below illustrates two alternative inventory ordering methods. Answer part 1 to 3  based on this flowchart.  
HARDA Limited employs 650 workers in ten different departments. These workers work in various capacities, including the manufacturing workers, technician, and janitorial workers. Each  department has a supervisor who is responsible for supervising departmental activities. In  addition to supervising operations, the supervisors of the departments are responsible for  recruiting, hiring, and firing workers within their areas of responsibility. The organization attracts  casual labour and experiences a 20 to 30 per cent turnover rate in employees per year. 
Employees clock on and off the job each day to record their attendance on time cards. Each  department has its clock machine located in an unattended room away from the main production  area. Each week, the supervisors gather the time cards, review them for accuracy, and sign and  submit them to the payroll department for processing. Besides, the supervisors submit personnel  action forms to reflect newly hired and terminated employees. From these documents, the payroll  department signs the paychecks, which are drawn on the general cash account, and sends them  to the department supervisors for distribution to the employees. A payroll register is sent to the  cash disbursements department where it is filed. 

Question 4: 
Marketing system provides some useful insights regarding the sales order. Different departments  use this information. For instance, the production process uses this information to forecast the  expected sale for next month. The production clerk uses this to create an online production  schedule. From this schedule, the system automatically prepares weekly online work orders to be  used by the production department. 
The production supervisor assesses the work orders from his terminal and prepares the necessary  paper-based move tickets and materials requisitions. Then, the move tickets and two copies of  the materials requisitions are distributed to each work centre. Later, work centre employees  submit the two copies of the materials requisitions to the warehouse in exchange for materials  and sub-assemblies. If additional new materials are needed beyond the standard quantity, the  supervisor issues additional materials requisitions. 
Work centre employees record their work hours on paper-based job cards and send them to the  accounting department. After the production is completed in a work centre, the move ticket is  submitted to the accounting department. Upon the completion of a production batch, the  production supervisor closes the open work order file. 
The warehouse manager files one copy of the materials requisition and updates the materials  inventory file in the computer in her office. The manager then sends a second copy of the  materials requisition to the accounting department. At the end of the day, the manager prepares  a digital journal voucher and post it to the general ledger control account. The accounting clerk  assesses the work orders and set up a work-in-process account for a production batch.  Throughout the production period, the clerk also receives move tickets, job tickets, and materials  requisitions, which he uses to post to the work-in-process account. At the end of each day, the  accounting clerk prepares a digital journal voucher and post it to the general ledger control  account to reflect the status of work-in-process and to record transfers of work-in-process to  finished goods inventory.  

Question 5: 
You are working in a mid-size company for the last couple of years. Recently you are promoted as  a Chief Information Officer (CIO) and excited to perform your new role efficiently. David Savage,  Chief Operation Officer (CEO) of your company has decided to implement an Enterprise Resource  Planning (ERP) system. David Savage has met with a consulting ERP firm based on a  recommendation from a friend at his club. During a recent meeting, David Savage introduced the  chief consultant, who was charming, was personable, and seemed very knowledgeable. The CEO’s  first instinct was to sign a contract with the consultant, but he decided to hold off until he had  received your input.  

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