How is a credit check in the advanced technology system

Assignment Help Management Information Sys
Reference no: EM132522115 , Length: word count:1550

HI5019 Strategic Information Systems for Business and Enterprise - Holmes Institute

Learning Outcome 1. Critically evaluate the purpose and role of accounting information systems in today's business environment;

Learning Outcome 2. Articulate the various transaction cycles, financial reporting, management reporting systems and e-commerce systems to technical and non-technical stakeholders;

Learning Outcome 3. Evaluate systems development methodologies and the role of accountants in system development projects;

Learning Outcome 4. Critically evaluate the range of cultural, security, privacy and ethical issues facing individuals and organisations as a result of information systems.

Part 1
What is the relationship between data, information and an information system? (maximum 300 words)

Part 2
A council health inspector threatens to close down a restaurant by issuing a fake health violation notice if the owner does not make a financial payment to him. If the restaurant owner does not cooperate, the restaurant cannot be opened for business and the negative publicity will drive customers away. Faced with the potential economic loss, the owner makes the payment.

Required:
a) What type of fraud is this? (maximum 150 words)
b) What controls can be implemented to prevent or detect the fraud? ( maximum 200 words)

Part 3
How is a credit check in the advanced technology system fundamentally different from a credit check in the basic technology system? (maximum 300 words)

Part 4
The following is the description of cash disbursements system of Two Symbols Limited:

Upon receipt of the documents from accounts payable department, the cash disbursements clerk files the documents until their payment due date. On the due date, the clerk prepares a cheque for the invoiced amount, which is sent to the treasurer who signs it and mails back to the supplier.

The cash disbursement clerk then updates the cheque register, accounts payable ledger, and accounts payable control account from the clerk's terminal. Finally, the clerk files the invoice and copy of purchase order, receiving report, cheque in the department.

Required:
Describe the internal control weakness in Two Symbols' cash disbursements system and discuss the risk associated with the weakness. (300 words)

Part 5
Leon Jones worked in the warehouse of a large building supply company. One day he unexpected left for Fiji, never to return. His supervisor seized the opportunity to continue submit time cards for Leon to the payroll department. Each week, as part of his normal duties, the supervisor received the employee pay cheques from payroll and distribute them to the workers on his shift. As Leon was not present to collect his pay cheque, the supervisor forged Leon's name and cashed it.

Required:
Describe two control techniques to prevent or detect this fraud scheme. (300 words)

Attachment:- Strategic Information Systems for Business and Enterprise.rar

Reference no: EM132522115

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