cha 2 solutions manual 11th edWord文档下载推荐.docx
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3.Externally-generateddata.
InternallygeneratedfinancialdatawouldbecaptureddirectlyonsourcedocumentsthatareprocessedbytheAISandwouldbereportedintraditionalfinancialstatements.
Internallygeneratedoperatingdatacanbecapturedintwoways.Someofthisdata(e.g.,timeworked)wouldbecapturedonsourcedocuments.Otherdata(e.g.,employeeskills)wouldtraditionallybecapturedandstoredbyaninformationsystemthatisnotpartoftheAISitself.TheAIS,however,shouldberedesignedsoastointegratethisdatawiththeothertransaction-orienteddata.
Someofthedata(e.g.,informationonmarketshareandcustomersatisfaction)mustcomefromexternalsources.TheAISshouldbedesignedtostorethisdatainanintegratedmannerwithinternallygenerateddata.
2.2Thefactthatalldocumentsareprenumberedprovidesameansforaccountingfortheiruseandfordetectingunrecordedtransactions.Thus,amissingcheckindicatesamealforwhichacustomerdidnotpay.Sinceeachserverhashisorherownsetofchecks,itisalsoeasytoidentifywhichserverwasresponsibleforthatcustomer.Thispolicymayhelptodetertheft(e.g.,servingfriendsandnotrequiringthemtopayforthemeal,orpocketingthecustomer’spaymentanddestroyingthecheck)becauseareconciliationofallcheckswillrevealthatoneormorearemissing.
2.3Anorganization’sAISmustreflectitslineofbusiness.Forexample:
∙Manufacturingcompanieswillneedasetofproceduresanddocumentsfortheproductioncycle;
non-manufacturingcompaniesdonot.
∙Governmentagenciesneedprocedurestoseparatelytrackallinflowsandoutflowsfromvariousfunds,toensurethatlegalrequirementsabouttheuseofspecificfundsarefollowed.
∙Financialinstitutionsdonotneedextensiveinventorycontrolsystems.
∙Passengerservicecompanies(e.g.,airlines,bus,andtrains)generallyreceivepaymentsinadvanceofprovidingservices.Therefore,extensivebillingandaccountsreceivableproceduresarenotneeded;
instead,theymustdevelopprocedurestoaccountforprepaidrevenue.
∙Constructionfirmstypicallyreceivepaymentsatregularintervals,basedonthepercentageofworkcompleted.Thus,theirrevenuecyclesmustbedesignedtocarefullytrackallworkperformedandtheamountofworkremainingtobedone.
∙Servicecompanies(e.g.,publicaccountingandlawfirms)donotsellphysicalgoodsand,therefore,donotneedinventorycontrolsystems.Theymustdevelopandmaintaindetailedrecordsoftheworkperformedforeachcustomertoprovidebackupfortheamountsbilled.
∙Trackingindividualemployeetimeisespeciallyimportantforthesefirmsbecauselaboristhemajorcostcomponent.
2.4
Theobjectiveofthispolicyistoprovidegreatercontrolovercashreceipts.Thenumberofticketscollectedbythetickettakercanbecomparedtotheamountofcashturnedinbythecashier.Thispreventsthecashierfromgivingfreeticketstofriends.Italsopreventstheftofcashbythecashier.
2.5Therearenoadvantagestoaccountantsfocusingonlyonfinancialinformation.Boththeaccountantandtheorganizationwouldsufferifthisoccurred.Moreover,itwouldbeverycostlytohavetwosystemsratherthanonethatcapturesandprocessesoperationalfactsatthesametimeasitcapturesandreportsfinancialfacts.
Themaindisadvantageofthisisthataccountantswouldignoremuchrelevantinformationabouttheorganization’sactivities.Totheextentthatsuchnonfinancialinformation(e.g.,marketshare,customersatisfaction,measuresofquality,etc.)isimportanttomanagement,thevalueoftheaccountingfunctionwoulddecline.Moreover,accountantshavebeentrainedinhowtodesignsystemstomaximizethereliabilityoftheinformationproduced.IfrelevantinformationisnotproducedbytheAIS,thereisdangerthattheinformationmaybeunreliablebecausethepeopleresponsibleforitsproductionhavenotbeentrainedin,oradequatelyawareof,thepotentialthreatstoreliabilityandthebestmeasuresfordealingwiththosethreats.
SUGGESTEDANSWERSTOTHEPROBLEMS
2.1Someofthechangesinthechartofaccountsforeachtypeofentityincludethefollowing:
a.University
∙Noequityorsummarydrawingaccounts.Instead,haveafundbalancessectionforeachtypeoffund.
∙Severaltypesoffunds,withaseparatechartofaccountsforeach.Thecurrentfundisusedforoperatingexpenses,butnotcapitalexpenditures.Loanfundsareusedtoaccountforscholarshipsandloans.Endowmentfundsareusedtoaccountforresourcesobtainedfromspecificdonors,generallywiththeobjectivethatprincipalbepreservedandthatincomebeusedforaspecificpurpose.Plantfundsareusedformajorcapitalexpenditures.Mostfundcategorieswouldbefurtherdividedintorestrictedandunrestrictedcategories.
∙UnlikelytohaveNotesReceivable,butmayhaveAccountsReceivableforstudentswhopaytuitionininstallmentpayments.
∙Tuitionandfeeswouldbeonesourceofrevenue.Othersincludegifts,investmentincome,salesofservices,and,forpublicuniversities,stateappropriations.
∙Studentloansareanasset;
studentdepositsarealiability.
b.Bank
∙Loanstocustomerswouldbeanasset,somecurrentothersnoncurrent,dependinguponthelengthoftheloan.
∙Noinventory
∙Customeraccountswouldbeliabilities.
∙Classificationofrevenuewouldbeamongloans,investments,servicecharges,etc.
∙Nocostofgoodssold.
c.GovernmentUnit
∙Noequityorsummarydrawingaccounts.Instead,havefundbalances.
∙Balancesheetshowstwomajorcategories:
(1)assetsand
(2)liabilitiesandfundequity.
∙Separatechartofaccountsforeachfund(generalfund,specialrevenuefund,capitalprojectsfund,anddebtservicefund).
∙Revenueandexpenditureaccountswouldbegroupedbypurpose(e.g.,police,highways,sanitation,education,etc.).
∙Encumbranceaccounts
∙Revenueswouldincludetaxes,licensesandpermits,fines,andchargesforspecificservices.
∙Taxesreceivableasaseparatecategoryduetoimportance.
d.ManufacturingCompany
∙Severaltypesofinventoryaccounts(rawmaterials,work-in-process,andfinishedgoods).
∙Additionaldigitstocoderevenuesandexpensesbyproductsandtocodeassets/liabilitiesbydivisions.
e.ExpansionofS&
S
∙Additionaldigitstocode:
-Revenuesandexpensesbyproductsandbystores
-Assets/liabilitiesbystores.
2.2AdaptedfromtheDecember1973CMAExam(Part5,Question2)
Asix-digitcode(representedbythelettersABCDEF)shouldbesufficienttomeetDilley&
Company’sneeds:
AThisdigitwouldidentifythedivision(thereareonly4presently)plusthecorporateoffice
BThisdigitwouldrepresentthemajoraccounttype(asset,liability,equity,revenue,andexpense).
CThisdigitwouldrepresentthemajorclassificationwithinaccounttype:
∙Forbalancesheetaccounts,thiswouldrepresentspecificsub-categories(currentassets,plantandequipment,etc.),asonlysixcategoriesareneeded.
∙Forexpenseandrevenueaccounts,thisdigitwouldrepresenttheproductgroup,asagainthereareonlyfiveproductsplusgeneralcosts.
DThisdigitwouldrepresentspecificaccountsorcostcenters:
∙Forbalancesheetaccounts,thiswouldbethecontrolaccount;
onedigitisadequatebecausetheproblemsaysnomorethan10categories.
∙Forexpenseaccounts,thiswouldbethecostcenter;
onedigitisadequatebecausetheproblemindicatesnomorethan6costcenters.
EFThesetwodigitswouldrepresentthesubsidiaryaccountsandnaturalexpensecategories:
∙Forexpenseaccounts,thesewouldrepresentthe56naturalexpensecategoriesandvariancesforeachcostcenter.
∙Forthebalancesheet,thesetwodigitscouldaccommodateupto100subsidiaryaccounts.
2.3
a.Theaudittrailforthepurchasesofinventorywouldincludelinkingpurchaserequisitions,purchaseorders,andreceivingreportstovendorinvoicesforpayment.AllthesedocumentswouldalsobelinkedtothecheckorEFTtransactionusedtopayforthatinvoiceandrecordedintheCashDisbursementsJournal.Inaddition,thesedocumentswouldallbelinkedtothejournalentrymadetorecordthatpurchase.Therewouldbeageneralledgeraccountnumberatthebottomofeachcolumninthejournal.ThejournalreferencewouldappearintheGeneralLedger,InventoryLedger,andAccountsPayableledger.
b.Theaudittrailforthesaleofinventorywouldlinkthecustomerorder,salesorder,andshippingdocumenttothesalesinvoice.Thesedocumentswouldalsobelinkedtothejournalentryrecordingthesaleofthatmerchandise.Theinvoicewouldalsobelinkedtothecashreceivedfromthecustomerandtothejournalentrytorecordthatreceipt.
c.Theaudittrailforemployeepayrollwouldincludelinkingrecordsofemployeeactivity(timecards,timesheets,etc.)topaychecksandtothejournalentrytorecordpaymentofpayroll.Inamanufacturingcompany,therewouldalsobelinkstothejob-timeticketsusedtoallocatelaborcoststospecificproductsorprocesses.
2.4Gradingdependsupontheinstructor’sjudgmentaboutthequalityofthecodingscheme.Thecodingschemeshouldbeeitheragrouporblockcoding.Inaddition,thestudent’ssolutionsshouldprovidesufficientdetailinordertodeterminewhetherthesolutionrepresentsagrouporblockcodingscheme.
2.5Gradingdependsupontheinstructor’sjudgmentaboutthequalityofth
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