23404018
Description
Flashcards by Sophia Lynch, updated more than 1 year ago
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Created by Sophia Lynch
over 4 years ago
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| Question | Answer |
| What are 'Manual AIS'? | A physical AIS through stored documents. |
| What is AIS with MS Excel and MS Access? | AIS using Microsoft Word and Excel. |
| What is a 'Automated AIS'? Give an example. | A software programme that undertakes most accounting processes for you. Example = XERO It is a Cloud Solution Suitable for smaller enterprises. |
| What are 'Enterprise-wide Systems' or 'Enterprise Resource Planning - ERP'? | These are software programmes that provide the same information as programmes like Xero, but they also work out customers consumption patterns etc. Useful for big enterprises. |
| What are 'Internal Controls'? | The mechanisms that prevent and detect FRAUD and MISTAKES in a business process. |
| What is included in internal controls? (5) | 1. Separation of DUTIES 2. SAFEGUARDING assets 3. Proper AUTHORISATION 4. Independents REVIEWS 5. Install FRAUD detection software |
| What is the impact of AIS at firm-level? | It is used by everyone whether strategic, tactical or operational. |
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