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Describe the basic elements of a financial accounting

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examine the greatest threats to a computerized accounting system. Suggest two (2) preventative measures or remedies to protect the system and/or mitigate negative impact to the system. Provide a rationale for your response.

Pretend that you are a criminal and want to commit fraud by altering your company's accruals. Create a plan for committing the fraud.

Predict the major potential resulting damage to the company's financial statements from the fraud.

Describe the basic elements of a financial accounting information system.

Describe basic accrual accounting concepts, including the matching concept.

How do you use accrual concepts to analyze, record, and summarize transactions?

Describe how the accrual basis of accounting enhances the interpretation of financial statements.

Why are adjusting journal entries necessary? What would be the effect if a company failed to journalize and post adjusting entries?

Reference no: EM13856751

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