Accounting Information Systems Study Set 26

Business

Quiz 14 :
Monitoring and Auditing Ais

Quiz 14 :
Monitoring and Auditing Ais

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Rank the 10 core principles of effective information technology planning in order of importance in your opinion. Provide support for your top 5 important principles.
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Effective information technology planning supports the overall strategy of the firm. The plan should include the modern technology to support the business strategy. This plan should provide the summary of required resources and predicted outcomes that will be comes out when information technology is acquired.
The firm can adopt followed 10 core principles for effective information technology planning:
(1) Alignment: The first stage of project is planning phase. The firm should make sure this phase is aligned in right way with support of business strategy.
(2) Scope: Scope of the planning phase is to provide the effective ways for understand the requirements of business.
(3) Timeframe: The planning should fulfill the short term and long term outputs within the expected time. Timeframe indicates the consumed time for the information technology.
(4) Achievability: The planning phase has to determine the firm's capacity and capability to provide outcomes within the expected timeframe.
(5) Performance: The planning phase has to compute the performance of the project and share the performance with the internal and external users.
(6) Reassessment: The plan should be reassessed with in particular time for ensuring that planning is relevant with requirements of not.
(7) Outcomes realization: Cost of project should be provided the tangible and intangible outcomes to be realized. The cost of implementation should be less than the realized outcomes.
(8) Awareness: The planning, business strategy and outcomes should be disclosed with internal and external users of the information technology.
(9) Accountability: Accountability refers to the responsibility of actions and discloses the unbiased outcomes from the plan in corrective manner. The implementation of plan should be easily understandable and clear.
(10) Commitment: Firm has to make commitment that the plan implementation is in right manner and have some support for this commitment.
Each and every of above mentioned principles is important for effective information technology system planning. For fulfill the expected results, top five important principles can be explained as below:
Alignment of the planning phase is the most important principle for the implementation of technology. Every firm has to align the business strategy and inputs are in the right way.
Scope provides the way for implementation of planning phase and it helps in the understanding of business needs. Scope provides opportunity and possibility of the planning.
Time is the most important constraint for the firm. Timeframe displays the current progress or outcomes of the project. Firm has to complete the planning within the specific tine period.
Achievability determines the firm's capability and capabilities. It also discloses the outcomes from implementation.
The firm has to compute the current performance and share the information with the firm's stakeholders and other external users.

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Which phase of the systems development life cycle would include a feasibility analysis? a. Analysis phase B) Planning phase C) Design phase D) Implementation phase
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The systems development life cycle refers to the generating the information system to fulfill the requirements of the users. SDLC includes five phases: Planning, analysis, pattern, enactment and maintenance.
a) Analysis phase: The analysis phase of system development life cycle contains the whole analysis of the information system requirements of the final user. This phase includes the analysis of current progress and projected result. Thus, option (a) is incorrect.
b) Planning phase: This phase starts with the requirements of business for a new information system. This phase includes state the problems, establish the objectives and looking for another solutions. This phase also includes the feasibility analysis that the project will perform good or not. Thus option (b) is correct.
c) Design phase: This phase includes those expected features that it skipped under the analysis phase of SDLC. This phase may be referred as the operating the blueprint, process, and bar charts and other supportive documents. Thus, option (c) is incorrect.
(d) Implementation phase: This phase includes improvement, checking the final progress and implement of the new introduced system. This phase removes bugs and errors of the system. Thus, option (d) is incorrect.
Hence, the correct option is
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As part of effective IT planning in the systems development life cycle, a return on investment (ROI) calculation may be performed as part of the economic feasibility analysis. Often, many of the benefits from a new information system may be intangible benefits (e.g., system is easier to use or system enhances customer service, etc.) that are hard to quantify in an income statement. How would you suggest this be included in the economic feasibility analysis?
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Economic feasibility refers to the analysis of data for determine the cost of the project will profitable or not. Company uses the economic feasibility for the determination of profit.
Economic feasibility calculates the incomes from resources that would be expected from the project. Project has both tangible and intangible benefits. Tangible benefits can be recorded as in dollars but intangible benefits cannot be recorded in dollars. In aspect of economic feasibility intangible benefits include employee morale, reduction in waste, quality of data and information, quantity of data and information and improvement in decision making.
Hence, the intangible benefits cannot be included in the financial statement. It just enhances the quality and quantity of the project but it has same importance same as tangible benefits.

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Imagine the role of the project sponsor when a leader of the accounting book keepers comes to complain that the new information system could possibly result in the loss of five bookkeeper jobs. The bookkeepers argue that they will get the union involved if needed to protect their jobs. What should the project sponsor do?
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The IFAC suggested 10 core principles of effective information technology planning. Which of the following is not one of those 10 core principles? a. Achievability B) Reassessment C) Accountability D) Justifiable cost
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In the chapter, we discussed an example of Starbucks using the systems development lifecycle to develop the capability to analyze what type of pastries sell best with its various hot and cold drinks. Now, let's suppose that NASDAQ requires all of the firms trading on the exchange to report their financial statements not only using GAAP but also International Financial Reporting Standards (IFRS). Because Starbucks' current system cannot handle the IFRS requirements, the financial reporting system must be modified. Using Starbucks as an example, explain what types of activities would occur in each of the five phases of the systems development life cycle in preparation for reporting financial results according to IFRS.
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Explain the 100% rule. Assume you are telling your roommate about this rule, and use an example that is relevant to him or her.
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Projects are considered challenged if they are a. Late, over budget, or do not have the required features and functions B) Canceled prior to completion C) Delivered, but never used D) Completed early
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Accountants generally do not have all of the necessary systems analyst and systems development skills needed to develop accounting information systems. Why should you be interested in project management of an accounting information system?
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Your grandmother regularly uses a Sony Walkman (vintage 1989) that has cassette tapes. She is quite pleased with this technology because it lets her go on her evening constitutional and listen to music of her era. And of course, she has listened to this music for many years! What features would you point out to her to ease the "perceived usefulness" and "perceived ease of use" concerns? Use the technology acceptance model as discussed in the chapter to suggest whether she will use a brand new iPod Touch if given to her as a Christmas present.
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The triple constraint of project management does not include the constraint of a. Technical issues B) Time C) Cost D) Scope
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For your personal consulting business, you decide to set up an accounting information system to help with taxes as well as to help monitor your revenues and expenses. You've heard that QuickBooks is easy to set up, so you buy it, install it on your computer, enter in recent transactions and begin to use it. Required: 1. Explain one or two ways you could be a user of this accounting information system.( Hint: Use the discussion in the text considering the role of accountants in accounting information systems.) 2. Explain one or two ways you could be a manager of this accounting information system. ( One possibility: What practices do you employ to make sure your system is safe?) 3. After a few months, you decide to expand your QuickBooks with additional modules (payroll, inventory, etc.). Access the QuickBooks website ( http://quickbooks.intuit.com ), and consider one or two ways in which you could be a designer of your accounting information system.
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What are the differences between the situation in Question 4 and that of users of a brand new accounting information system?
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The PERT and Gantt charts primarily address the triple constraint of a. Technical issues B) Time C) Cost D) Scope
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Brainstorm a list of reasons why 68 percent (including 44 percent challenged + 24 percent failed) of the information technology projects either failed or were challenged in 2009. Consider specifics of each of the elements of the triple constraints model and any other common delays, including the challenges of working with programmers, software and hardware suppliers and vendors, and the like. What is the best way to overcome these issues and decrease the number of projects failed or challenged?
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Compare and contrast a PERT chart and a Gantt chart. How do they complement each other?
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The 100% rule suggests that before a PERT chart is done, a project manager must a. Make sure 100 percent of the project is funded B) Make sure the project team is devoted solely, or 100 percent, to this project C) Make sure 100 percent of the project tasks are defined D) Make sure that each person on the project team got 100 percent on their project management final exam
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As mentioned in the opening vignette, Walmart is implementing its SAP system throughout its worldwide operations. If Walmart has the choice, should it implement this system in China before, at the same time, or after the implementation in the United States? Use the technology acceptance model (in particular, perceived ease of use) to explain your answer.
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Using the 15-15 rule as a guide, when would a project manager and/or project sponsor proceed with completion of a project even if it is both 15 percent over budget and 15 percent off the initial schedule?
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The critical path in a PERT chart represents: a. The sequencing of tasks B) The most important tasks of the whole project C) The longest path of tasks needed for project completion D) The tasks that must be completed without errors
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