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34 Cards in this Set
- Front
- Back
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What is an example of Data Encryption?
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Key-in Data.
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What kind of datatype should be used for "hours worked"?
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Number
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What kind of datatype should be used for "currency"?
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Currency
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What is the best Internal Control?
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Segregation of Duties
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What are 3 types of Internal Controls?
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Preventative Control, Corrective Control, Segregation of Duties
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What is a Foreign Key?
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It is a Primary Key in another field.
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What is Data Modeling used for?
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To prevent redundancy in data.
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What is the General Ledger?
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It is the "account by account" listing of all transactions, debit and credit. It is NOT in Chronological order.
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How do we make a relationship between 2 tables?
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By linking them between Primary Key and Foreign Key.
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What is a good example of how to use "Grandfather, Father, Child" Backup?
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Magnetic Tape Drives
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When you hear Normalizing Data, what should you think of?
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Preventing Redundancy in Data.
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What is an Internal Audit?
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It is a service function within many large companies.
As a separate subsystem, they report to high-level management or to the board of directors in order to remain independent and objective. |
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Computer Vandalism is usually done as an inside or outside job?
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On the Inside.
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Where should you look if you want to see cash receipts that are coming in?
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Accounts Recievable
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Do we really know how much Computer Abuse occurs per year?
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NO. Companies intentally keep that info hush-hush.
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What is a real world example of a "1 to 1" Relationship?
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Your one car being assigned to 1 specific Parking Space.
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What is Batch Control?
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It's where you have a whole pile of "stuff", then add them all up before you document it into the system.
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For "customers"(as an example), what would be an example of a BAD primary key?
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Smith
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What do we mean by "Normalizing Account Data"?
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We're talking about getting rid of data redundancy.
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What is an example of a Database Language?
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SQL
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What is Cost Benefit?
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"A Control shouldn't outweigh the Benefit".
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What is Collusion?
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Group of 3 or more to get together and do something bad. This is why Separation of Duties is done in order to make dishonesty harder to do.
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If you have good controls, you still need an Auditor Check.
True/False? |
TRUE. It's called Substantive Testing.
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What is the main reason for having an Internal Audit?
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To make sure you're following procedure.
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What's a Hot Site?
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It's an offsite area that contains everything ready to go at a moment's notice. Also very expensive to maintain.
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What's a Cold Site?
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It's an offsite area that contains the essential data that would need to be setup and turned on before it can be utilized. It's not terribly expensive to maintain.
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What is a document that is NOT a Source Document?
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Accounts Recevible Aging Report
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What's a way to reduce Internal Loss/Shrinkage?
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A Fidelity Bond.
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What is an example of a Logic Bomb?
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Say that you delete someone from the Payroll System and by doing that, it triggers what could be seen as "system crashing".
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What is the Payroll Department responsible for?
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Quarterly Payroll Accounts.
NOT for giving out paychecks. |
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What is a Bill of Lading?
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It's a Shipping Label
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Who all receives a Bill of Lading?
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-1 copy goes to Shipping Company
-1 Copy goes to Customer -1 copy stays with supplier that's sending the merchandise |
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What is the proper order in posting?
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-We post to Journal
-Then to General Ledger -Then make it Unadjusted Trial Balance -Then make it an Adjusted Trial Balance -Then Financial Statements -Then Closing Entries -Then Income Statements -Then Post-Closing Trial Balances |
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What are controls designed to do?
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Catch intentional and unintentional errors.
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