EBA2053 Accounting Information System by Mohd Nazirul Hazwan https://padlet.com/hazwangan98/aol3hzyf39tq Individual Assignment - Mohd Nazirul Hazwan bin Adnan (61516) en-us 2019-03-06 15:57:57 UTC 2019-03-07 17:46:04 UTC hello@padlet.com https://padlet-uploads.storage.googleapis.com/231358008/7c2845b3992452883cda51d335c882b0/people_avatar_head_marvel_thor_asgardian_512.png Learning Unit 1 : hazwangan98 https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338446727 Distinguish between AIS and MIS]]> 2019-03-06 15:58:21 UTC https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338446727 Accounting Information System (AIS) hazwangan98 https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338448134 subsystems process financial transactions and nonfinancial transactions that directly affect the processing of financial transactions (changes to customers' names and addresses are process by the AIS to keep the customer file current. Although not technically a financial transaction these changes provide vital information for processing future sales)]]> 2019-03-06 16:00:39 UTC https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338448134 Learning Unit 2 : hazwangan98 https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338449626 Computer based systems employ four types of files. Name them. ]]> 2019-03-06 16:03:00 UTC https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338449626 Management Information System (MIS) hazwangan98 https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338480145 processes nonfinancial transactions that are not normally processed by AIS. MIS manages the information systems for specialized functional areas such as production planning and control, sales forecasting, inventory warehouse planning, market research, and so on. ]]> 2019-03-06 16:50:57 UTC https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338480145 4 types of computer-based systems files hazwangan98 https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338918753
  • Master Files
  • Transaction Files
  • Reference Files
  • Archive Files

    • ]]>     2019-03-07 15:48:39 UTC https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338918753     Learning Unit 3 : hazwangan98 https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338962936 What are the three logical steps of the cash disbursement systems?]]> 2019-03-07 16:53:34 UTC https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338962936 3 logical steps of the cash disbursement systems hazwangan98 https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338964622
  • Identify liabilities due
  • Prepare cash disbursements  
  •  Update AP record and post to general ledger

    • ]]>     2019-03-07 16:55:58 UTC https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338964622     Learning Unit 4 : hazwangan98 https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338967647 What are the relationships between test of controls and substantive tests?]]> 2019-03-07 17:01:10 UTC https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338967647 hazwangan98 https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338972789
    A test of controls is an audit procedure to test the effectiveness of a control used by a client entity to prevent or detect material misstatements. Depending on the results of this test, auditors may choose to rely upon a client's system of controls as part of their auditing activities. However, if the test reveals that controls are weak, the auditors will enhance their use of substantive testing, which usually increases the cost of an audit.]]>     2019-03-07 17:09:25 UTC https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338972789     hazwangan98 https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338973322 A test of controls is typically conducted for a sample of documents related to transactions that occurred throughout the year. Doing so provides evidence that the system of controls has operated in a reliable manner throughout the reporting period ]]> 2019-03-07 17:10:24 UTC https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338973322 hazwangan98 https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338973572
    Substantive testing is likely to include confirmation of account balances with third parties (such as confirming receivables), recalculating calculations made by the client (such as valuing inventory), and observing transactions being performed (such as the physical inventory count).]]>     2019-03-07 17:10:54 UTC https://padlet.com/hazwangan98/aol3hzyf39tq/wish/338973572