Financial Information Systems
Final Exam
Course Introduction
Financial Information Systems explores the use and management of computer-based systems to support financial operations, reporting, and decision-making within organizations. The course covers topics such as the structure and function of financial information systems, data collection and storage, transaction processing, integration with accounting and enterprise resource planning (ERP) systems, and security considerations. Emphasis is placed on the analysis and design of systems that manage financial data, facilitate compliance with regulations, and provide timely, accurate information for strategic financial planning and control. Through a combination of theoretical knowledge and practical case studies, students will gain an understanding of how technology enhances financial management processes and supports organizational goals.
Recommended Textbook
Accounting Information Systems 11th Edition by Ulric J. Gelinas
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17 Chapters
2326 Verified Questions
2326 Flashcards
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Page 2
Chapter 1: Introduction to Accounting Information Systems
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) Which of the following is an element of the operations process?
A) production
B) planning
C) controlling
D) decision making
Answer: A
Q2) The three logical components of a business process include all of the following except:
A) management process
B) operations process
C) information process
D) organization process
Answer: D
Q3) An information system consists of an integrated set of computer-based and manual components established to provide information to users.
A)True
B)False
Answer: True
Q4) Facts or figures in raw form are referred to as ______________________________.
Answer: data
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Chapter 2: Enterprise Systems
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141 Verified Questions
141 Flashcards
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Sample Questions
Q1) If you have made a Web purchase such as with Amazon.com you have experienced some of the functionality of a CRM system where the vendor keeps track of your name, address, and purchases.
A)True
B)False Answer: True
Q2) An organization creates a competitive advantage by creating less value for its customers than does its competition.
A)True
B)False Answer: False
Q3) Early adopters of ERP systems were in the business of making products.
A)True
B)False Answer: True
Q4) The dominant player in the large system ERP arena is Microsoft.
A)True
B)False Answer: False
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Chapter 3: Electronic Business E-Business Systems
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) ______________________________ provide an Internet base for companies to put products up for bid or for buyers to put proposed purchases up for bid.
Answer: Internet auction markets
Q2) The benefits of electronic document management (EDM) include improved staff productivity, reduced cost of handling and storing paper and faster processing. A)True
B)False
Answer: True
Q3) The correct sequence of subprocesses for the batch processing of accounting data is
A) business event occurs, update master data, record business event data, generate outputs
B) business event occurs, generate outputs, update master data, record business event data
C) business event occurs, record business event data, update master data, generate outputs
D) none of the above
Answer: C
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Chapter 4: Documenting Information Systems
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129 Verified Questions
129 Flashcards
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Sample Questions
Q1) Which data flow diagram (DFD) symbol is usually portrayed with an arrow?
A) data flow
B) data store
C) external entity
D) process or internal entity
Q2) Flowcharts are commonly used for new systems implementations, business process reengineering, finance function transformations, and assessments of internal controls.
A)True
B)False
Q3) The successive subdividing, or "exploding," of physical data flow diagrams (DFDs) is called top-down partitioning.
A)True
B)False
Q4) When we document a(n) ______________________________ system, the central computer will have one data store/disk symbol.
Q5) A(n) ______________________________ specifies where, how, and by whom a system's activities are accomplished.
Q6) Bubbles are labelled with verbs in a ____________ data flow diagram.
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Chapter 5: Database Management Systems
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175 Verified Questions
175 Flashcards
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Sample Questions
Q1) Data warehousing is the use of information systems facilities to focus on the collection, organization, integration, and long-term storage of entity-wide data.
A)True
B)False
Q2) A table is in ______________________________ if it is in first normal form and no non-key attribute is dependent on only a portion of the primary key.
Q3) Decoupling the data from the system applications is a major difference between the centralized database approach and the applications approach and is known as:
A) data independence
B) data manipulation
C) data redundancy
D) query language
Q4) A neural network is a software program that may be integrated into DSS or other software tools.
A)True B)False
Q5) A(n) ______________________________ depicts the fields comprising a record.
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Chapter 6: Relational Databases and SQL
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) Queries of a database are driven by ______________________________ commands.
Q2) A collection of data representing multiple occurrences of a resource, event, or agent is known as a(n) ______________________________.
Q3) Which of the following is the entity or agent?
A) Client
B) client number
C) client name
D) client street address
Q4) An entity can be classified as all of the following except:
A) resource
B) event
C) tuple
D) agent
Q5) A simplified representation of a complex entity is a(n):
A) instance
B) attribute
C) model
D) relationship
Q6) A(n) ______________________________ is an item of data that characterizes an entity or relationship.
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Chapter 7: Controlling Information Systems: Introduction to
Enterprise Risk Management and Internal Control
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159 Verified Questions
159 Flashcards
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Sample Questions
Q1) Achieving which control goal requires that all valid objects or events are captured and entered into a system's database once and only once?
A) ensure input validity
B) ensure update accuracy
C) ensure input completeness
D) ensure update completeness
Q2) Which of the following statements regarding a system of internal control is false?
A) Effective internal control systems provide complete assurance against the occurrence of material frauds and embezzlements.
B) Internal control systems depend largely on the competency and honesty of people.
C) Because internal control systems have a cost, management should evaluate the cost/benefit of each control plan.
D) The development of an internal control system is the responsibility of management.
Q3) A(n) ______________________________ control plan is designed to rectify problems that have occurred.
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9
Chapter 8: Controlling Information Systems: Introduction to Pervasive Controls
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158 Verified Questions
158 Flashcards
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Sample Questions
Q1) Within the data center, the data librarian function grants access to programs, data, and documentation.
A)True
B)False
Q2) Specifications for availability, reliability, performance, capacity for growth, levels of user support, disaster recovery, security, minimal system functionality, and service charges are included in:
A) application documentation
B) service-level requirements
C) business continuity plan
D) security plan
Q3) The IS function with the responsibility of guiding the IT organization in establishing and meeting user information requirements is the IT steering committee.
A)True
B)False
Q4) The ______________________________ maintains custody of and controls access to programs, files, and documentation.
Q5) The most common biometric devices read
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Chapter 9: Controlling Information Systems: Business
Process and Application Controls
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135 Verified Questions
135 Flashcards
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Sample Questions
Q1) A control in which two people key the same inputs into a system where they are compared is called:
A) online prompting
B) key verification
C) computer matching procedures
D) a redundancy check
Q2) In the control matrix M-1 stands for missing process number one.
A)True
B)False
Q3) Dollar totals represent a summarization of any numeric data field within the input document or record.
A)True
B)False
Q4) ______________________________ represent a summarization of any numeric data field within the input document or record.
Q5) A(n) ______________________________ is the general term to describe the summation of data that would not normally be totaled except for control purposes.
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Q6) ______________________________ are simple counts of the number of documents entered.
Chapter 10: The Order Entrysales Oes Process
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134 Verified Questions
134 Flashcards
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Sample Questions
Q1) When a source document provides authority for a business activity to occur, the source document is said to ______________________________ the activity.
Q2) In the OE/S process, the document that represents an independent authorization to ship goods to the customer is the:
A) bill of lading
B) sales order
C) customer acknowledgement
D) shipping notice
Q3) The order entry/sales (OE/S) process includes the first four steps in the order-to-cash process: presales activities; sales order processing; picking and packing the goods; and shipping.
A)True
B)False
Q4) ______________________________ is a control plan that establishes, for shipping personnel, that someone other than warehouse personnel authorized a shipment.
Q5) The order entry/sales (OE/S) process includes the first four steps in the ______________________________ process.
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Chapter 11: The Billingaccounts Receivablecash Receipts
Barcr Process
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134 Verified Questions
134 Flashcards
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Sample Questions
Q1) Funds on deposit and available for use are known as good funds.
A)True
B)False
Q2) The two types of accounts receivable systems discussed in the text are the balance-forward and ______________________________ systems.
Q3) With the consolidation/aggregation method of an electronic bill presentment and payment (EBPP) system, a company's bills are posted, along with bills from other companies, to a Web site hosted by a third party. Customers then go to that site to pay bills from a number of companies.
A)True
B)False
Q4) To reduce the cost of collecting its accounts receivable, a company sells its accounts receivable to a financial organization. The service is called:
A) collection agency advance
B) lock-boxing
C) Factoring
D) Funding
Q5) The acronym ACH stands for ______________________________.
Page 13
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Chapter 12: The Purchasing Process
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141 Verified Questions
141 Flashcards
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Sample Questions
Q1) After the vendor has been selected, the buyer prepares a purchase order.
A)True
B)False
Q2) The business document that accompanies the purchased inventory from the vendor identifies the shipment and triggers the inventory receiving process is the vendor packing slip.
A)True
B)False
Q3) Which of the following items is not a control plan of the purchasing process?
A) minimize inventory carrying costs
B) approved purchase order
C) compare vendors for favorable prices, terms, quality, and product availability
D) PO confirmation to requesting department
Q4) Purchase orders are sent to:
A) customers
B) vendors
C) carriers
D) managers
Q5) In many organizations ______________________________ do the actual buying.
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Chapter 13: The Accounts Payablecash Disbursements
Apcd Process
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118 Verified Questions
118 Flashcards
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Sample Questions
Q1) In an AP/CD process "establish payable" would normally be triggered by:
A) vendor invoice
B) a purchase order
C) a copy of the purchase order sent to the inventory process
D) a vendor acknowledgement
Q2) The AP/CD process handles the repetitive work routines of:
A) cashier
B) purchasing
C) Receiving
D) all of the above
Q3) The ______________________________ is an interacting structure of people, equipment, activities, and controls that is designed to accomplish the handling of repetitive work routines of the AP department and the cashier, support their decision needs, and assist in the preparation of internal and external reports.
Q4) The vendor invoice master data is a repository of all unpaid vendor invoices. A)True B)False
Q5) The vendor invoice triggers the "establish payable" process. A)True B)False
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Chapter 14: The Human Resources Process HR
Management and Payroll Processes
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121 Verified Questions
121 Flashcards
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Sample Questions
Q1) Payroll reports may be provided to all of the following except:
A) unions
B) employees
C) government
D) customers
Q2) Employee fraud schemes in the area of reimbursement of expenses include all of the following except:
A) overstating expenses
B) fake receipts
C) overstating commissions
D) using personal expenses as business expenses
Q3) For good internal control, there should be a(n) ______________________________ between personnel data creation/modification, payroll preparation, and disbursement of the checks.
Q4) Moving from bi-weekly to monthly payroll can reduce costs by 30 to 50 percent.
A)True
B)False
Q5) The ______________________________ is an account used solely for payroll purposes. Funds are transferred into the account to cover payroll checks to be issued.
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Chapter 15: Integrated Production Processes IPP
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) With the pull approach to manufacturing, factory machinery is arranged in clusters or cells.
A)True
B)False
Q2) ______________________________ convey authority for the manufacture of a specified product or subassembly in specified quantity and describe the material, labor, and machine requirements for the job.
Q3) ______________________________ is a manufacturing philosophy or business strategy for designing production processes that are more responsive to precisely timed customer delivery requirements.
Q4) ______________________________ data marks the end of the conversion process and the movement of goods to the finished goods warehouse.
Q5) Materials requirements planning is a process that uses bills of material, raw material and WIP inventory status data, open order data, and the master production schedule to calculate a time-phased order requirements schedule for materials and subassemblies. A)True
B)False
Q6) A(n) ______________________________ is a group of similar workstations.
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Chapter 16: The General Ledger and Business Reporting
GLBR Process
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) Balanced scorecard is methodology for assessing an organization's business performance via four components: (1) financial, (2) internal business process, (3) customers, and (4) innovation and improvement activities.
A)True
B)False
Q2) Continuous assurance (continuous auditing) is the process by which assurance is provided through monitoring of automated controls and business events in real time or near real time.
A)True
B)False
Q3) ______________________________ is a generalized system for the customized tagging of data to enable the definition, transmission, and interpretation of data over the Internet. It uses predefined tags to let information providers create uniform information for users.
Q4) Chapter 16 includes a discussion The Sarbanes Oxley Act of 2002. Describe the three sections of Sarbanes Oxley that were discussed, and how these may impact financial reporting.
Q5) The ______________________________ officer possesses expertise in preparing internal management reports.
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Chapter 17: Acquiring and Implementing Accounting Information Systems
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206 Verified Questions
206 Flashcards
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Sample Questions
Q1) The systems analysis team conducts a(n) ______________________________ which provides quantitative and certain qualitative information concerning each of the system alternatives.
Q2) Systems developed using structured systems design techniques are more costly over the life of the system because maintenance of such structured systems is problematic.
A)True B)False
Q3) One task of the ______________________________ phase is to convert to the new or revised system.
Q4) In particular, intricate knowledge of accounting and information technology helps the accountant be successful in the role of ______________________________.
Q5) Interviews that are conducted with personnel outside the organization are called ______________________________.
Q6) It is always better to develop a system in-house than it is to purchase a standard package.
A)True B)False
Page 19
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