Notesale: Turn your study into money

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Chapter 1: Systems fundamentals – Introduction
Multiple-choice questions
1
...

*b
...

d
...

computer systems have emerged to handle the classification and recording
tasks traditionally associated with the accounting function
...

knowledge workers have increasingly replaced accountants in the performance
of recording and classification tasks
...
1 – critically evaluate accounting practices, reflecting on how
accounting information systems enrich and extend the role of the accountant
...


As computer systems have been developed to perform the recording and classification
tasks associated with business activities, the nature of accounting and the work of the
accountant have also been pushed in a new direction
...

b
...

d
...

ensure that businesses invest in new software
...

outsource accounting work to bookkeepers
...
1 – critically evaluate accounting practices, reflecting on how
accounting information systems enrich and extend the role of the accountant
...


The ICAA requires that its members should bring their analytic expertise to several
fields
...

b
...

*d
...

Market analysis and compliance
...

Human resource management
...
1 – critically evaluate accounting practices, reflecting on how
accounting information systems enrich and extend the role of the accountant
...


What does ERP stand for?

Chapter 1: Systems fundamentals - Introduction

*a
...

c
...


Enterprise Resource Planning
...

Electronic Resource Planning
...


Correct answer: a
Learning objective 1
...

5
...

b
...

*d
...

Accountants are increasingly exposed to and working with technology and
information systems
...

Accountants need to lead and oversee the design of an accounting information
system
...
1 – critically evaluate accounting practices, reflecting on how
accounting information systems enrich and extend the role of the accountant
...


Information is:
a
...

c
...


the same as data
...

less useful than data
...


Correct answer: b
Learning objective 1
...


1
...


What is information overload?
a
...

c
...


The situation where a computer has more information than is needed or is able
to be processed in a meaningful way when a computer program is executed
...

The situation where a computer has more information than is needed or is able
to be processed when data storage is taking place
...


Correct answer: b
Learning objective 1
...

8
...

b
...

*d
...
5 – justify and communicate the role of accounting information in
supporting decision makers
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42
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b
...

d
...

Planning production
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Handling variances for standard and actual costs of goods manufactured
...
5 – justify and communicate the role of accounting information in
supporting decision makers
...


Which of the following statements about the HR management and payroll cycle is
NOT true?
a
...

c
...


The cycle involves recruiting employees
...

The cycle involves dealing with situations where employees leave the
organisation
...


Correct answer: d
Learning objective 1
...

44
...

b
...

*d
...

Preparing end-of-period adjusting entries and close the temporary accounts to
profit and loss
...

Preparing cheque requisition
...
5 – justify and communicate the role of accounting information in
supporting decision makers
...
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Chapter 1: Systems fundamentals - Introduction

45
...

b
...

*d
...

When conducting an audit, the auditors should consider professional
requirements
...

When conducting an audit, the auditors do not need to worry about the unique
characteristics of an individual client
...
5 – justify and communicate the role of accounting information in
supporting decision makers
...


Which of the follow statements regarding ethics is false?
a
...

c
...


Ethics is concerned with how we act and how we make decisions
...

Most professional bodies have ethical standards that members must follow
...


Correct answer: d
Learning objective 1
...

47
...

b
...

*d
...

a change in the business environment
...

a change in the technology infrastructure, such as computer hardware
...
5 – justify and communicate the role of accounting information in
supporting decision makers
...
13

48
...

*b
...

d
...
5 – justify and communicate the role of accounting information in
supporting decision makers
...


Which process drives value throughout an organisation by enabling the alignment of
information to best address business needs?
a
...

*c
...


Data categorisation
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Data classification
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Correct answer: c
Learning objective 1
...

50
...

b
...

d
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database
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IPO model
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3 – critique and synthesise system concepts, giving examples
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Chapter 1: Systems fundamentals - Introduction

Short answer questions
1
...
Has
this role changed? Why or why not?
Answer:
The accountant’s role has extended beyond the task of capturing and recording financial
information about an organisation to being more of a knowledge worker: someone who
provides information and solves problems for an organisation
...
The career paths of an accountant,
however, still rely on the knowledge of accounting
...

Learning objective 1
...

2
...
Data become useful when they are
subject to the application of rules or knowledge, which enables us to convert data into
information
...

Learning objective 1
...

3
...

Commonly in large organisations, people will request reports for a specific problem
...
In many cases these
reports will then just be filed away because “that’s what has always been done”
...
For the person receiving the irrelevant information, there
is a potential risk of information overload, which happens when an individual has more
information than he or she needs and can process meaningfully when working through a
decision
...

Learning objective 1
...


1
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Describe the relationship between input, process, and output
...

Processes are the sets of activities that are performed on the inputs into the system
...
Typically, a
process will take at least one input and then “transform” or “manipulate” the input into
outputs
...

Learning objective 1
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5
...
For example, when a datum about a customer, such as a
customer number, is entered into a system, the system will take the datum and check that it is
in the required format and is a valid number
...
g
...

Learning objective 1
...

6
...
This is the idea of system scope: the domain that a system addresses

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