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AIS Final Exam Textbook Review Questions and Answers describe the activities associated with a manual accounting process there are four activities associated with doing the accounting process manually: 1. Journalize- this records the business event in an original entry that contains the business...

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  • August 4, 2024
  • 9
  • 2024/2025
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  • ais final exam textbook review questions and answe
  • describe the activities associated with a manual a
  • explain the relationship between the periodic mode
  • distinguish internal and external entities exte

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AIS Final Exam Textbook Review Questions
and Answers
describe the activities associated with a manual accounting process - answer there
are four activities associated with doing the accounting process manually:
1. Journalize- this records the business event in an original entry that contains the
business events listed in chronological order
2. Post- this takes the recording of the business event from the journal to a specific
subsidiary ledger. instead of being organized chronologically, these ledgers are
organized by accounts
3. Post- instead of posting about the event itself, this activity records the total from the
journal entry to the general ledger
4. summarize- the last activity of the manual accounting process prepares a trial
balance of the summarized business events
- any additional steps usually include adjusting journal entries, preparing financial
statements, and closing entries

Explain the relationship between the periodic mode and batch processing - answer in
an automated system, the periodic mode records journal entries for the activities that
taken place and are transferred as a group, or batch to the general ledger. this is a
more efficient way for maintaining a company's financial statements then transferring
each transaction individually. in a technologically obsessed environment, putting
transactions in a batch process system is the easiest and simplest way to achieve the
automated accounting process.

distinguish internal and external entities - answer external entities are those entities
in which they are considered outside the system of data flow. internal entities are those
that are contained within the system of data transformation. this is a more thorough
illustration of a system, indicating the where, how and by whom, the activities are
accomplished. external entities can be consumers or vendors and internal entities
usually are represented by persons or other systems

describe each symbol used in constructing DFD's - answer data flow diagrams use
four symbols to illustrate the graphical form of the business process:
1. bubble symbol- this contains the related entity or process. it has data flows coming in
and out of the symbol
2. data flow symbol- this is illustrated by a curved line with an arrow at the end. this is
the pathway for data to and from entities and data stores
3. external entity symbol- this symbol signifies the source of data that is external to the
system. this could include a bank or a customer
4. data store symbol- this symbol signifies a data store within the business process. this
may include the employee/payroll process or master data store

, what is a logical DFD? - answer another type of data flow diagram (DFD) is a logical
DFD. this represents all of a systems data stores, processes and data flows. These
DFD's are mainly used for documentation of systems so that the logical nature can be
recorded. This records the activities that are performed without all of the detail of a
physical DFD. Logical DFD's only specify the "what" activities of a system. The present
an advantage over the physical DFD, allowing users to concentrated on the performed
activities.

What major logical process does the GL/BR process perform? - answer the GL/BR
process performs several important functions that are used for reporting purposes. one
of the first logical process it performs is to prepare draft and format information that will
be compiled into financial statements. The information presented here is given to
management and posted on a private access site for its stockholder to view. the other
logical process it performs is to close all accounts at their appropriate point in time. This
is to prevent the accounting cycle from repeating the same accounts n the following
time period.

Why is the hierarchical coding system a good fit for the GL system? - answer
Hierarchical coding allows for similar entities to be grouped together that are recorded in
the general ledger. This system assigns letters and numbers to account that are related
to one another and allows for easy determination for which financial statement they
belong to. A hierarchical coding system presents entities in a specific order and can be
aggregated for reports and presentations.

Compare and contrast tangible and intangible benefits - answer Tangible benefits
compare to intangible benefits in that they both are important figures for the
organization's development of a future physical system, particularly the selection of the
best alternative.

Tangible benefits are different form intangible benefits in that the tangible benefits can
be measured while intangible benefits cannot be measure. For example, tangible
benefit can be measured in increased profits, while intangible benefit cannot be
measured in increased brand awareness.

Explain what is meant by the control environment. What elements might comprise the
control environment? - answer The control environment shows how aware and
committed the board of directors and management are to the importance of control in
the entity. since management and the board of directors are at the top of the
organization, they set an example to the rest of the team by addressing the need for
control in a positive manner. The control environment might be comprised of
considering the "bottom line" as well as ethical, legal, and social performance when
setting up reward systems.

Explain how business ethics relate to internal control. - answer internal control
ensures that ethical behavior is practiced by management and sets up the tone of the
corporate culture. corporate culture includes ethical and behavioral standards and how

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