Mastering Accounting Information Systems: Exam Strategies & Tips

School
Universiti Teknologi Mara**We aren't endorsed by this school
Course
AC 120
Subject
Accounting
Date
Dec 11, 2024
Pages
5
Uploaded by BailiffTitaniumBadger37
© Hak Cipta Universiti Teknologi MARA CONFIDENTIAL AC/JUL 2022/AIS255 COURSE : ACCOUNTING INFORMATION SYSTEM COURSE CODE : AIS255 EXAMINATION : JULY 2022 TIME : 1 HOUR 30 MINUTES INSTRUCTIONS TO CANDIDATES 1. This question paper consists of three questions. 2. Answer ALL questions in English. 3. Please save all answers in ONE (1) pdf file and rename as: STUDENT NAME_4A_AIS255TEST2022 For example: AINA ROSLAN_4A_AIS255TEST2022 UNIVERSITI TEKNOLOGI MARA QUESTION - TEST
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CONFIDENTIAL 2AC/JUL 2022/AIS255 © Hak Cipta Universiti Teknologi MARA PART A – MULTIPLE CHOICE QUESTIONS This part consists of TEN (10) multiple-choice questions. Choose the most suitable answer and write down the alphabet representing the answer in the answer booklet 1. The following are components of COSO framework EXCEPT a. monitoring. b. auditing. c. risk assessment. d. control environment. 2. Information technology controls relate to control over the organisation database, network security, data center and program maintenance are example of a. backup control b. application control c. general control d. operating system control. 3. The following are purpose of internal control system EXCEPT a. To safeguard assets of the firm. b. To ensure the accuracy and reliability of accounting records and information c. To promote efficiency in the firm’s operations. d. To avoid corruption of information. 4. The purpose of is to ensure that only authorised personnel have access to the business’s assets. a. accounting records b. supervision c. independent verification d. access control 5. Four common type of printer operator actions are as follows EXCEPT a. Removing printed output. b. Bursting the printed output. c. Pausing the print programs d. Entering number of pages for printed documents. 6. The fraud scheme that is similar to the concept of “borrowing from Peter to pay Paul” is a. lapping. b. skimming. c. corruption. d. transaction fraud. 7. Ensuring that all material transactions processed by the information system are valid and in accordance with management’s objectives is an example of a. access control. b. separation of duties c. transaction authorisation. d. independent verification.
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CONFIDENTIAL 3AC/JUL 2022/AIS255 © Hak Cipta Universiti Teknologi MARA 8. The following are documents involve in a three-way match EXCEPT a. sales invoice. b. purchase order. c. receiving report. d. supplier’s invoice. 9. involves pulling products from the customer end (demand), rather than pushing them from the production end (supply). a. Inventory reduction b. Vouching c. Summarizing d. Pull processing 10. Which of the following is NOT an output report of the financial reporting system. a. Tax return. b. Comparative balance sheet. c. Variance analysis report. d. Statement of cash flows. (10 marks)
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CONFIDENTIAL 4AC/JUL 2022/AIS255 © Hak Cipta Universiti Teknologi MARA PART B – SHORT QUESTIONS 1. Discuss any TWO (2) tasks that the receiving department performs in relation to the revenue cycle. (5 marks) 2. Explain any TWO (2) criteria of the blind copy of Purchase Order. (5 marks) 3. Discuss any TWO (2) differences between fixed assets systems from purchases system. (5 marks) 4. Explain any TWO (2) documents use during the stage of production planning and control of the conversion cycle. (2 marks) 5. What are the most common forms of responsibility centers? (3 marks)
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CONFIDENTIAL 5AC/JUL 2022/AIS255 © Hak Cipta Universiti Teknologi MARA PART C – CASE STUDY QUESTION 1 Cash and inventory are the common assets at risk in the revenue cycle. In the absence of proper control, cash from customer payments is at risk of being embezzled. Inventory in the warehouse always subject easily stolen and sold for cash. Suggest any FOUR (4) physical control procedures to avoid the risk of misappropriation of cash receipts and inventory. (10 marks) QUESTION 2 Safri worked in the production plant of a large manufacturing firm which produce electrical products. One day, he unexpectedly left the company without any notice, and never return to work at the manufacturing firm. His supervisor, Yosh seized this opportunity to continue to submit time card for Safri to the payroll department. Each week, as part of his duties, Yosh received the employee pay-cheque from payroll department and distributed them to the employee within his supervision. Because Safri was not present to collect his pay-cheque, Yosh forged Safri’s name and cashed the cheque. REQUIRED a. Discuss TWO (2) risk from the above case. b. Provide TWO (2) suggestion to overcome risks in Answer (a). For Questions (a) and (b), please provide your answer in the following format. RISK SUGGESTION (10 marks) (TOTAL: 50 MARKS) END OF QUESTIONS
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