Graphical representations of systems or processes are often supplemented by

Benefits of an ERP system include:

____________________ are/is responsible for establishing internal controls and accurate financial statement reporting.

An invoice-less system in which the amount owing is recorded based on the purchase order and goods received is termed:

Efficiency of a payroll system would be increased by ______________________.

When a new system is implemented, data conversion ________________.

For established customers with a documented payment history, how is credit approval generally handled?

Effective Accounting Information System (AIS) training involves

Business continuity planning does not include _____________________.

Short Answer Question (Overview): ABC Corp. sells and services furnaces and air-conditioners for residential customers.  ABC has annual sales revenues of $1 million and repair service revenue of $3 million.  The Controller and Accounting Supervisor oversee the accounting department.  You are asked the following questions in your interview for the Accounting Supervisor position reporting to the Controller: Short Answer Question Part 1 The Controller wants your input on repair service revenue processes.  Currently, the Service Manager schedules Repair Technicians for service calls.  Repair Technicians fill out a daily log sheet that shows the actual time worked on each customer job.  At the end of each day, the Repair Technicians give their log sheets directly to the AR Accountants for billing customers (this is done so that log sheets are not lost).   The AR Accountants calculate the time spent on the different jobs from the log sheets and create customer billings.  Would you make any changes, other than electronic submission of time worked, to the current process steps of Repair Technicians submitting log sheets at the end of the day?  If so, what change would you make to the process steps?  In either case, justify your position.  (2 marks) What expenditure fluctuates directly with the repair service revenue? Explain the reconciliation that you would do between this expenditure and the technician repair time billed. (2 marks)    If the Repair Technicians use mobile devices to remotely enter time worked on jobs, provide two General IT controls that ABC may implement and the risk that each control would protect against.  (2 marks) Provide two benefits of investing in mobile devices to be used by Repair Technicians while on repair jobs. (2 marks) Provide two legal and/or ethical responsibilities with respect to the collection and protection of customers’ personal data.  (2 marks)