Accounting information system

in either renewable or oil & gas. Therefore, I would be in charge of new project developments and monitoring the progress of these projects - such as delivering results and updates to the top management. This role will include different areas of accounting and finance, from which four areas will be discussed in this assignment. Firstly, it is important to mention that an organization is interdependent while being divided into several departments. It is thus easy to think that the other…

Information Technology Technology has revolutionized the way businesses operate today. How are businesses able to sustain efficiency in production, finances, information, and other important things? The answer to that is Information technology. Information Technology encompasses many tools that enable storage, processes, captures, exchanges, and utilization of information. IT has served managers in an unimaginable way you can think of. For instance, IT consists of several elements, such as,…

I. John Benson, the Chief Financial Officer of DGSE, was found to manipulate the amounts of inventory for 2009 and 2010 by inflating millions of dollars (Jacobson, 2012). He exploited the inappropriate controls of DGSE and made some fraudulent accounting entries; He concealed them with false inventory details and management representation letter. Mr. Benson violated Section 17(a) (1)-(3), Section 13 (b) (5) and Section 13 (a) of the Exchange Act and was charged $75,000 as a penalty and was…

professionals in their field of study to gather valuable tips and information. In the effort to find out more about the career that I chose, Accounting, I contacted a young auditor from E&Y and set up an interview with her. During the interview, the auditor provided me information about how she obtained her current position and what the accounting profession demands. She also gave me some advice about how to enter and remain competitive in Accounting. The following are specific details from the…

For employee fraud case study, I chose the Nathan John Mueller’s embezzlement scandal. As an accounting manager of ING Reinsurance Corporation (a major financial service company) in Minnesota, Mueller stole almost 8.5 million dollars from the company from 2003 to 2007 (“Mueller Gets 8 years for $8.5 million ING Fraud”). The way he orchestrated the fraud was surprisingly rather simple. Mueller accidentally found out that ING gave him and another co-worker the authorization to request and approve…

Introduction Enterprise Resource Planning (ERP) systems are widely used by companies around the world. When implemented successfully, it has countless advantages and benefits such as improved productivity, decreased costs, increases efficiencies, and streamlined processes. Although ERP systems offer many advantages, if not implemented correctly, it can cost a company a lot of money as well as years of struggle. An ERP system must fit well with the businesses existing processes and operation. It…

of 2 Toshiba’s Accounting Scandal Toshiba is a leading Japanese multinational conglomerate which provides diversified products and services such as electronics, home appliances, information & communications systems, medical equipment and power systems. The company was founded in 1875 to pioneer in high technology not only in Japan but also anywhere in the world (“About Toshiba”). Unfortunately, an independent investigation had revealed one of Japan’s biggest accounting scandals in…

number of meals served are 2000 and 3500. (6 marks) D. What is the major limitation of the high-low method? (6 marks) [20 marks] EAB10603_Management Accounting 1 3 CONFIDENTIAL Question 3 Genesis Wheels manufactures spoked and solid bicycle wheels. The company relies on an activity based costing system. The following information has been provided for the cost pools: cost Pool machine setup assembly / Polish inspection…

Sarbanes Oxley Act of 2002 which was also called SOX was published by the Congress in 2002 to protect investors’ interest (SOX, 2002). After the enactment of SOX, corporate financial reporting was more strict and normative. However, there were a lot of accounting scandals before 2002. And the Enron scandal attracted the most public attention of all the scandals. Enron was created in 1985 and was one of the largest energy companies around the world. However, in 2001 and 2002 the company was…

also the trust businesses have placed in it over the years. In its 2010 version, Peachtree Accounting fully integrated analytical software into its features. With this feature, you will be able to compare your company's revenue, gross margins and sales with competitors, see how your company ranks within your industry and view financial trends that are relevant to your business practices. Peachtree Accounting allows you to open accounts for different companies under the same user name. In other…