Reference no: EM13839564

QUESTION ONE

1. For an accounting degree to be recognized by an Australian professional body (ie ASCPA, ACA and NIA), it must include an information systems unit. Discuss TWO reasons why an understanding of information systems is considered important for an accountant.

2. A significant development in computing over the past twenty years as been the widespread adoption of relational database.

a) Explain what a relational database is used for, and the main attributes that underpin it; and

b) Choose some data from the revenue cycle, and show (including diagrams) how this could be organised in a relational database.

3. Identify three ways the role of accountants has fundamentally changed since the use of computers became widespread in business.

4. Competitive pressures have forced business to become more efficient and more focussed on the needs of the customer. Discuss how Enterprise Resource Planning systems have:

a) Helped entities become more efficient, and the areas where efficiencies have been achieved; and

b) Enabled entities to improve the quality of customer service.

QUESTION TWO

You have been hired to implement MYOB into Superscreens Ltd, a company that manufactures and installs shower screens. The management of Superscreens are not fully aware of what MYOB can do, and what it cannot do. Some of the processes Superscreens wishes to improve are inventory management, and the processing and management of accounts receivable.

a. Describe the first stage of the process to implement a new information system into an organisation. What information would you assemble and what plans would it be helpful to draw up.

b. What report(s) would you suggest Superscreens Ltd use if they wish to monitor the company's financial performance on a monthly basis. Provide reasons for your answer.

c. List two qualities financial information should possess, and detail how these might be improved by implementing an integrated IT system.

d. Describe how inventory management and the accounts receivable process could be improved by using an integrated financial system such as MYOB.

QUESTION THREE

Management of ABC Limited have decided make the company more cross-functional (ie more process-based) and to implement an Enterprise Resource Planning to assist in this new way of working.

a. Describe two key advantages ABC might achieve by improving co-ordination between functional groups.

b. Briefly describe one method used by companies to both transform the business culture and to re-design business processes.

c. List and describe two benefits the Finance and Accounting group of ABC Ltd could obtain if an Enterprise Resource Planning application was implemented.

QUESTION FOUR

a. What is the objective of the Payments Cycle?

b. What position within an entity is responsible for purchasing goods and services? What documentation do they require before an order is issued?

c. Describe a control procedure (either computer-based or manual) that would prevent the same invoice being paid twice.

QUESTION FIVE

E-commerce is a term used to describe doing business across the internet. Banks, airlines and computer suppliers are among the many types of businesses which have developed a web presence.

a. What types of business have been found to be most suitable for e-commerce? What types of products are much less suitable for sale over the web?

b. List and describe two significant benefits a business might gain by using a website to interact with their customers rather than having a shop.

Question 6- Do either part (1) or part (2)

Part 1

a. The concept of primary keys and foreign keys is central to a relational database, such as MS Access. Briefly explain what they are, and their use within a database.

b. Sanjeev Ltd has decided to maintain the company inventory records in a relational database, and to use this information to create invoices to bill his customers.

You are required to suggest a suitable table structure required to store details of what inventory is in store, details of the customers of Sanjeev Ltd, and a record of each sale. You need to show the primary key of each of your tables and the relationship between the tables.

OR

Part 2

a. List the four processs that make up the Revenue Cycle and describe an internal control that would help make it secure.

b. Enterprise Resource Planning (ERP) information systems are having a big impact on the operations of many large organisations. Some of these systems are described as ‘externally focussed'. What are the benefits sought from these ‘externally focussed' ERPs, compared to those that are classified as ‘internally focussed'?

c. Describe the purpose of the ‘Chart of Accounts' in an organisation?