ACC217 Accounting Information Systems SUSS Assignment Sample Singapore

ACC217 Accounting Information Systems is a highly interactive course designed for both accounting and technology majors alike. Perfect for those looking to broaden their understanding of critical components necessary for effective management of financial information and progress towards a successful business career.

This course addresses the fundamentals of accounting information systems and develops an understanding of computer applications used in the accounting field. From here, individuals will gain knowledge of how to design, implement, operate and protect integrated systems needed to support organizational operations. Furthermore, this class provides students with the opportunity to learn how to evaluate control problems, control activities and the integrity of systems data.

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In this section, we will explore several assignment tasks. These include:

Assignment Task 1: Explain what an AIS is and describe its basic functions.

An Automatic Identification System (AIS) is a powerful tool used to enhance the safety of maritime navigation. It was initially developed in order to help vessels avoid collisions, but its basic functions now extend far beyond that by providing detailed positional information for collision avoidance as well as for navigation and tracking of ships at sea. It is committed to preventing accidents, protecting the environment, and reducing vessel traffic congestion.

AIS uses a two-way VHF Data Link that allows vessels to send their name, position, course, speed, and other relevant navigational data. This data can be received in real-time by other vessels within a predetermined range from the transmitting source and supplemented with data from land-based receivers across densely populated waters. Those receiving this information can then refer to this data when determining courses of action while navigating through potentially hazardous areas or maneuvering around large vessels.

Assignment Task 2: Apply the key principles of business process reengineering to revenue and expenditure cycles.

Business process reengineering is a key principle that can be applied to the revenue and expenditure cycles of any organization. It involves critically analyzing internal processes from end to end and assessing their effectiveness, taking into account factors such as cost, quality and customer expectations. By understanding the current workflows of the task in question and exploring opportunities for improvement both cost-effectively and efficiently, organizations are able to create processes with maximized value.

This includes implementing new technologies or improving existing ones that could have positive impacts on the entire revenue cycle. Furthermore, the same principle can be applied to the expenditure cycle where optimization strategies are employed to determine where adjustments should be made in order to reduce costs without compromising on quality or meeting deadlines. Applying business process reengineering principles to revenue and expenditure cycles is a surefire solution for businesses seeking improved results in terms of output efficiency.

Assignment Task 3: Discuss how IT, and specifically AIS, support BPR.

Information Technology (IT) has significantly impacted how businesses operate and how services are delivered to their customers. Automated Information Systems (AIS) have offered businesses greater opportunities to automate processes, simplify decision making and support Business Process Reengineering (BPR). AIS supports BPR by allowing businesses to quickly identify inefficient processes or activities, analyze them, and design new methods to streamline operations which leads to increased performance, productivity and profits.

With the help of IT automation tools such as database management systems, ERP software and data mining techniques, businesses can collect data in a centralized database which eliminates duplicate efforts, thereby reducing time and costs associated with manual activities. Furthermore, AIS can integrate different functions so that data is communicated securely between departments in an organization which allows for more dynamic yet consistent operations. All these factors result in more efficient processes that allow for faster delivery of services along with improved customer experience.

Assignment Task 4: Describe the key types of computer fraud and identify the types of computer abuses and attacks.

Computer fraud is a widespread problem throughout the world. It entails computer crimes that aim to unlawfully acquire, use, alter, delete or impede access to sensitive information and resources. Some key types of computer fraud are identity theft, phishing scams, malware attacks and ransomware attacks. These malicious practices involve individuals obtaining their victims’ personal details either by stealing passwords and software keys or through social engineering tactics such as deceiving users into revealing confidential information.

Additionally, computer abuses involve tampering with existing hardware or software components while computer attacks include the disruption of networks defending vulnerable systems from malicious actors. All these offenses can potentially lead to significant financial losses or irreversible damage to private data. Therefore, it is essential that we remain vigilant when it comes to potential risks online as any shortcomings can have disastrous consequences for individuals, businesses and organizations alike.

Assignment Task 5: Identify types of IT controls: Preventive, Detective, and Corrective and control threats in processes.

Security measures to protect data are essential for businesses to remain compliant, reduce risk, and protect their valuable assets. Three types of IT controls exist which can effectively control threats in processes: preventive, detective, and corrective. Preventive controls help identify potential risks before they escalate, while detective controls monitor systems activity for malicious activities.

Lastly, corrective controls allow organizations to contain a security threat and prevent further damage in the event of a breach. Implemented correctly, a combination of these three types of IT control measures can ensure the security of any business process.

Assignment Task 6: Examine basic business activities and related information processing operations performed in the revenue and expenditure cycles.

The revenue and expenditure cycles are critical components of any business operation. Every organization must complete a wide range of activities in order to ensure that its finances run smoothly and accurately. In particular, most businesses must determine product pricing, process customer payments, compile general ledger entries and track inventory levels across various departments.

Additionally, the revenue and expenditure cycles also require significant information processing operations to generate financial reports, process electronic transactions and monitor account balances. By performing these activities on a regular basis, businesses can remain efficient and competitive while managing their finances in an effective manner.

Assignment Task 7: Examine how AIS deal with control threats for revenue and expenditure cycles.

Automated Internal Systems (AIS) are a key component of the revenue and expenditure cycle within an accounting system. AIS are capable of greatly reducing control risks related to the accuracy, completeness, and timeliness in which transactions occur. In order to achieve this goal, AIS must be designed with adequate control activities and objectives.

This includes the segregation of duties between different personnel, dual controls on programs that handle critical components of the cycle, as well as transaction authorization protocols and signature procedures for monitoring cash flows. When properly applied, AIS can reduce errors from manual processes and insure accurate processing of documents throughout both the revenue and expenditure cycles.

Assignment Task 8: Use flowcharts to understand, evaluate, and document information systems.

Flowcharts are one of the most useful tools for understanding, evaluating, and documenting information systems. By visually representing the different components of a system, flowcharts can help illuminate the structure and functionality of data pathways, processes and logic functions within an organization. They are therefore an invaluable resource in obtaining an overview of how a system works.

Through the use of symbols to represent various components such as inputs, outputs, decisions and procedures, flowcharts are ideal for describing complex processes that involve intricate combinations of hardware and software. By breaking down processes into step-by-step diagrams with corresponding labels, flowcharts lend themselves to quick comprehension. As a result, they provide an easy way to determine areas needing improvement and help people become quickly familiarized with intricate systems.

Assignment Task 9: Apply IT controls to provide reasonable assurance about information security.

The importance of IT controls cannot be overstated when it comes to providing reasonable assurance about information security. By ensuring that all systems are regularly updated with the latest security patches, monitoring for unusual activity that may indicate a breach, and having policies in place for the appropriate use of company data, organizations can go a long way toward preventing cyber threats from compromising their data. While there is no one-size-fits-all approach to information security, the use of sound IT controls is an essential part of any successful strategy.

Assignment Task 10: Analyse information processing operations performed in the revenue and expenditure cycles within an AIS environment.

In order to successfully analyze information processing operations performed in the revenue and expenditure cycles within an AIS environment, it is important to understand what roles technology and manual processes play in processing transactions. As with most automated systems, data flows through the system in a specific order, typically beginning with an initial data entry point where information is first collected, then sorted and stored.

Eventually, this information is retrieved and used to report outcomes related to revenue or expenditures at different stages of a transaction cycle. To ensure accuracy and prevent fraud, these operations are typically monitored and logged so the entire cycle can be revisited at any time. Overall, analyzing information processing operations performed during the revenue and expenditure cycles can provide key insights into the effectiveness of a company’s financial systems.

Assignment Task 11: Draw REA data models of the AIS database.

Constructing an REA data model of an AIS database is a great way to create an accurate representation of how the various components in an AIS interact with each other. This graphical tool allows for a visual assessment of the resources, events, and agents involved in any system; giving analysts a better grasp of how the operations work. Such models are often dissected into smaller components, allowing them to be studied more meaningfully and give insights that would otherwise remain unseen. Developing REA data models can often enhance our understanding of any given AIS database and make it easier to diagnose any potential problems with the system.

Assignment Task 12: Describe the typical implementation process of an AIS/ERP package.

Implementing an AIS/ERP package requires careful planning, as it impacts virtually all areas of the organization. To ensure a successful implementation, organizations typically begin by mapping out detailed project requirements, such as identifying the features and capabilities that will be needed. The next step is to select the most appropriate software platform for those needs. After selecting the software, the team works on customizing and configuring it for each department’s needs using data from legacy systems to streamline the process wherever possible.

Training sessions can then take place for staff members at all levels, such as administrators and end-users alike. Finally, testing takes place to ensure that the system works as intended before going live with full implementation in order to minimize bugs and maximize the effectiveness of use after deployment.

Assignment Task 13: Develop the essential knowledge and interpersonal skills to work effectively in a team.

Working in teams is a necessity for many businesses and organizations, so the ability to develop and use essential knowledge and interpersonal skills when part of a team is key. This includes clear communication, strong collaboration, problem-solving skills, self-reflection and a positive attitude. By developing these abilities, team members can better understand one another’s strengths and weaknesses while working together towards common goals.

In addition to knowledge-based competencies such as language proficiency or industry expertise, interpersonal skills such as being patient with different opinions or taking mutual responsibility are also important in order to effectively work in teams. With the right mix of essential knowledge and interpersonal skills, teams can unlock their full potential while reaching success faster than ever before.

Assignment Task 14: Demonstrate proficiency in written and verbal communication skills.

Having strong written and verbal communication skills are essential for anyone needing to efficiently interact with others. Learning to effectively express ideas, both in writing and verbally, is not only important to convey messages accurately, but also to form meaningful connections with those we communicate with.

Accomplishing this proficiently requires practice and attention to detail in order to make sure that the message is both understood and heard. Good written and verbal communication can help foster trust, understanding, and even collaboration among individuals. As a result of these skills, it is possible to build stronger relationships with colleagues.

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