100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
Instructor’s Solutions Manual for Accounting Information Systems 15th Edition by Marshall B Romney, Paul J. Steinbart, Scott L. Summers, David A. Wood 2024 / All Chapters A+$12.99
Add to cart
Instructor’s Solutions Manual for Accounting Information Systems 15th Edition by Marshall B Romney, Paul J. Steinbart, Scott L. Summers, David A. Wood 2024 / All Chapters A+
29 views 0 purchase
Course
Accounting Information Systems 15th Edition
Institution
Accounting Information Systems 15th Edition
Book
Accounting Information Systems, Global Edition
Instructor’s Solutions Manual for Accounting Information Systems 15th Edition by Marshall B Romney, Paul J. Steinbart, Scott L. Summers, David A. Wood 2024 / All Chapters A+
chapter 1
accounting information
systems: An overview
Suggested Answers to Discussion Questions
1.1 The value of infor...
solution manual for accounting information systems
accounting information systems 15th edition
by marshall b romney paul j steinbart scott l
Connected book
Book Title:
Author(s):
Edition:
ISBN:
Edition:
More summaries for
TEST BANK FOR Accounting Information Systems 15th Edition, Kindle Edition by Marshall B Romney, Paul J. Steinbart, Scott L. Summers & David A. Wood , All Chapters Covered || Guide A+
Instructor’s Solutions Manual for Accounting Information Systems 15th Edition by Marshall B Romney, Paul J. Steinbart, Scott L. Summers, David A. Wood 2024 / All Chapters A+
Test Bank with Solution Manual for Accounting Information Systems, 16th Edition by Marshall B Romney
All for this textbook (16)
Written for
Accounting Information Systems 15th Edition
All documents for this subject (28)
Seller
Follow
TestsBanks
Reviews received
Content preview
Accounting Information Systems
Instructor’s Solutions
Manual
Accounting Information
Systems
15th Edition
Marshall B. Romney
Professor Emeritus, Brigham Young University
Paul John Steinbart
Professor Emeritus, Arizona State University
Scott L. Summers
Brigham Young University
David A. Wood
Brigham Young University
3-1
Copyright (c) 2021 Pearson Education, Inc.
, Accounting Information Systems
This work is protected by United States copyright laws and is provided
solely for the use of instructors in teaching their courses and assessing
student learning. Dissemination or sale of any part of this work (including
on the World Wide Web) will destroy the integrity of the work and is not
permitted. The work and materials from it should never be made available
to students except by instructors using the accompanying text in their
classes. All recipients of this work are expected to abide by these
restrictions and to honor the intended pedagogical purposes and the needs
of other instructors who rely on these materials.
PEARSON, ALWAYS LEARNING, and REVEL are exclusive trademarks owned by Pearson
Education, Inc. or its affiliates in the U.S. and/or other countries.
Unless otherwise indicated herein, any third-party trademarks, logos, or icons that may appear in
this work are the property of their respective owners, and any references to third-party
trademarks, logos, icons, or other trade dress are for demonstrative or descriptive purposes only.
Such references are not intended to imply any sponsorship, endorsement, authorization, or
promotion of Pearson’s products by the owners of such marks, or any relationship between the
owner and Pearson Education, Inc., or its affiliates, authors, licensees, or distributors.
3-2
Copyright (c) 2021 Pearson Education, Inc.
, Accounting Information Systems
chapter 1
accounting information
systems: An overview
Suggested Answers to Discussion Questions
1.1 The value of information is the difference between the
benefits realized from using that information and the
costs of producing it. Would you, or any organization,
ever produce information if its expected costs exceeded
its benefits? If so, provide some examples. If not,
why?
Most organizations produce information only if its value
exceeds its cost. However, there are two situations
where information may be produced even if its cost
exceeds its value.
a. It is often difficult to estimate accurately the
value of information and the cost of producing it.
Therefore, organizations may produce information
that they expect will produce benefits in excess of
its costs, only to be disappointed after the fact.
b. Production of the information may be mandated by
either a government agency or a private
organization. Examples include the tax reports
required by the IRS and disclosure requirements for
financial reporting.
1.2 Can the characteristics of useful information listed in
Table 1-1 be met simultaneously? Or does achieving one
mean sacrificing another?
Several of the criteria in Table 1.1 can be met
simultaneously. For example, more timely information is
3-3
Copyright (c) 2021 Pearson Education, Inc.
, Accounting Information Systems
also likely to be more relevant. Verifiable information
is likely to be more accurate.
However, achieving one objective may require sacrificing
another. For example, ensuring that information is more
complete may reduce its timeliness. Similarly,
increased verifiability and accuracy may reduce its
timeliness.
The decision maker must decide which trade-offs are
warranted in each situation.
1.3 You and a few of your classmates decided to become
entrepreneurs. You came up with a great idea for a new
mobile phone application that you think will make lots
of money. Your business plan won second place in a
local competition, and you are using the $10,000 prize
to support yourselves as you start your company.
a. Identify the key decisions you need to make to be
successful entrepreneurs, the information you need to
make them, and the business processes you will need
to engage in.
b. Your company will need to exchange information with
various external parties. Identify the external
parties, and specify the information received from
and sent to each of them.
The author turns this question into an in-class group
activity. Students are divided up in groups, told to
close their books, and given 15 minutes to:
a. Think through the business processes, key decisions,
and information needs issues in their group.
b. Identify the external users of information and
specify the information received from and sent to
each of them.
One group is selected to present their answers to the
class. The other groups are told to challenge the
group’s answers, provide alternative answers, and chip
in with additional answers not provided by the selected
group. Since the group that presents is not selected
until after the time has expired, students are motivated
to do a good job, as they will be presenting to their
peers.
The value of this activity is not in arriving at a
3-4
Copyright (c) 2021 Pearson Education, Inc.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TestsBanks. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
