Core concepts of accounting information systems 13 by simkin norman chapter 01

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Prepared by Paula Funkhouser University of Nevada, Reno

Core Concepts of Accounting Information Systems, 13th Edition

AIS and the Acountant

Chapter 1

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Chapter 1:

AIS and the Accountant

• Introduction: Why Study Accounting Information Systems (AIS)?

• Careers in AIS

• Accounting and IT

• What Are AISs?

• What’s New in AISs?

• AIS at Work

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Introduction: Why Study AIS

• Applying information technology (IT) to accounting

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Careers in Accounting Information

Systems

• Traditional Accounting

– Understanding of accounting and information systems

– Certified Information Technology Professional

• Systems Consulting

– Designing systems and reengineering processes

– Software and hardware selection

– Value-added resellers (VARs)

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Systems

• Certified Fraud Examiner

– Professional certification

– Association of Certified Fraud Examiners (ACFE)

• IT Auditing and Security

– Risk analysis with Information Systems

– Aid financial auditors in evaluation of controls

– Certified Information Systems Auditors (CISAs)

– Penetration testing

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Accounting and IT

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• Interactive Data and XBRL

– Reusable data in multiple applications

– “Tagging” data

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Objectives of Financial Accounting

– Provide relevant information

– Planning, decision making, and control activities

– Division managers, product managers

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Managerial Accounting

• Objective

– Provide relevant information

– Internal users (Managers)

• Components

– Cost Accounting

– Budgeting

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Cost Accounting

• Measure and Control Costs

– Acquisition, processing, distribution, and selling activities

• AIS Examples

– Corporate Performance Measurement and Business

Intelligence

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Activity-Based Costing

• Assigning of Overhead

– Increased automation created difficulties

– Lacked direct relationship between labor and overhead

• AIS Implementation

– Easier assignment of overhead

– Important aspect of strategic planning

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Corporate Performance Measurement

• Responsibility Accounting System

– Trace unfavorable performance to responsible department

– Internal Business Processes

– Learning and Growth

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Budgeting

• Definition

– Financial projection for the future

– Short-range and long-range

• Usefulness

– Managerial control

– Compare actual and budgeted results

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– Evaluate client’s compliance with HIPAA laws

– IT evaluations and audits (security, privacy)

– Management consulting

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Taxation

• Taxation Software

– Example of AIS

– Create and evaluate tax strategies

– Transmit completed forms

• Professional Usage

– Research challenging questions

– Access more up-to-date information

– Database access

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Study Break #1

The Sarbanes-Oxley Act of 2002:

A Enables U.S officers to wire tap corporate phones if required

B Has led to a decrease in the amount of work done by auditors and accountants

C Forbids corporations from making personal loans to executives

D Requires the CEO of a public company to take responsibility for the reliability of its financial statements

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Study Break #2

A dashboard is:

A A computer screen used by data entry clerks for input tasks

B A physical device dedicated to AIS processing tasks

C A summary screen typically used by managers

D A type of blackboard used by managers to present useful

information to others

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What are AISs

• Accounting and Information Technology

• Information versus Data

• AIS components

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Accounting and IT

• An Accounting Information System (AIS)

– Data and processing procedures

– Creates needed information for users

• AIS Today

– Financial and non-financial data

– Enterprise-wide information system

– Business process focused

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Information (versus Data)

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22AIS Components

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Computerized Data Processing

Problems

• Information overload for users

• Unable to identify input errors

• Difficult to follow audit trails

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AIS and ERP

• Accounting Information Systems

– Internal and External users

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AIS and ERP

• Overlapping of the Systems

– Provide same information

– Emphasize business processes

– Integration into seamless databases

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AIS: Role in Organizations

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AIS: Role in Organizations

• E-Business

– Conducting business over the Internet

– Increased importance and growth

• E-Commerce

– Subset of e-business

– Buying and selling transactions

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Study Break #4

With respect to computerized AIS, computers:

A.Turn data into information in all cases

B Make audit trails easier to follow

C Cannot catch mistakes as well as humans

D Do not generally process information more quickly than

humans

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What’s New in AIS?

• Cloud Computing

• Sustainability Reporting

• Suspicious Activity Reporting

• Forensic Accounting, Governmental Accountants, and

Terrorism

• Corporate Scandals and Accounting

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Cloud Computing

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Disadvantages of Cloud Computing

• Reliability of Internet Connection

• Data Security Measures of Provider

• Quality of Service

• Reliability of Service Provider

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Sustainability Reporting

• Reporting Nonfinancial Measures

– Impacts on income, value, or future performance

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Suspicious Activity Reporting

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Forensic Accounting

• Forensic Accounting

– Combines skills of investigation, accounting, and auditing– Provides evidence of criminal activity

• Examples of AIS Uses in Forensic Accounting

– Identifying and denying financial aid to terrorists

– Tracing arms and chemical orders to final destination

– Planning for catastrophic events

– Controlling cyber terrorism

– Detecting money laundering and illegal transfers

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Corporate Scandals and Accounting

• Enron (2001)

– Manipulation of accounting records

– Understate liabilities and inflate earnings

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Study Break #5

The acronym SAR stands for:

A Simple accounting receipts

B Suspicious accounting revenue

C Suspicious activity reporting

D Standard accounts receivable

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AIS at Work

• The cost of not filing a SAR

• Filing a SAR in not optional

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