Kế toán kiểm toán - Chapter 15: General ledger and reporting system

The audit trail is the path of a transaction through the accounting system. The audit trail facilitates these three tasks: Trace any transaction from its original source document to the general ledger and to any report or other document using that data.

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Accounting Information Systems 9th EditionMarshall B. Romney Paul John Steinbart15-1©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartGeneral Ledger and Reporting SystemChapter 1515-2©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartLearning ObjectivesDescribe the information processing operations required to update the general ledger and to produce other reports for internal and external users.Identify the major threats in general ledger and reporting activities, and evaluate the adequacy of various internal control procedures for dealing with them.Read and explain an integrated enterprise-wide REA data model.3©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartLearning ObjectivesDiscuss and design a balanced scorecard for an organization.Explain the relationship between online transaction processing systems and data warehouses used to support business intelligence.Understand the implications of new IT developments, such as XBRL, for internal and external reporting.4©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartIntroductionLinda Spurgeon, AOE’s president & CEO, is not satisfied with the financial reporting capabilities of AOE’s new ERP system.She has three primary goals:To develop a Balanced Scorecard in a timely manner.To speed up trend analysis data on the company’s financial performance.To lower costs associated with providing financial information to interested external parties on a timely basis.5©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartIntroductionThis chapter discusses the information processing operations involved in updating the general ledger and preparing reports that summarize the results of an organization’s activities.6©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartLearning Objective 1 Describe the information processing operations required to update the general ledger and to produce other reports for internal and external users.7©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartGeneral Ledger and Reporting ActivitiesWhat are the four basic activities performed in the general ledger and reporting system?Update the general ledgerPost adjusting entriesPrepare financial statementsProduce managerial reports8©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartUpdate The General Ledger (Activity 1)The first activity in the general ledger system is to update the general ledger.Updating consists of posting journal entries that originated from two sources:Accounting subsystemsThe treasurer9©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartUpdate The General Ledger (Activity 1)AccountingsubsystemsTreasurerJournal voucherGeneral ledgerUpdate thegeneral ledgerJournal entryJournal entry10©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartPost Adjusting Entries (Activity 2)The second activity in the general ledger system involves posting various adjusting entries.Adjusting entries originate from the controller’s office, after the initial trial balance has been prepared.11©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartPost Adjusting Entries (Activity 2)What are the five basic categories of adjusting entries?Accruals (wages payable)Deferrals (rent, interest, insurance)Estimates (depreciation)Revaluation (change in inventory method)Corrections12©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartPost Adjusting Entries (Activity 2)ControllerJournal voucherPost adjustingentriesPreparefinancialstatementsAdjusting entriesFinancial statementsAdjusted trial balance13©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartPrepare Financial Statements (Activity 3)The third activity in the general ledger and reporting system involves the preparation of financial statements.The income statement is prepared first.The balance sheet is prepared next.The cash flows statement is prepared last.14©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartProduce Managerial Reports (Activity 4)The final activity in the general ledger and reporting system involves the production of various managerial reports.What are the two main categories of managerial reports?General ledger control reportsBudgets15©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartProduce Managerial Reports (Activity 4)What are examples of control reports?lists of journal vouchers by numerical sequence, account number, or date listing of general ledger account balancesWhat are examples of budgets?operating budgetcapital expenditures budget16©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartProduce Managerial Reports (Activity 4)Budgets and performance reports should be developed on the basis of responsibility accounting.What is responsibility accounting?It involves reporting financial results on the basis of managerial responsibilities within an organization.17©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartLearning Objective 2 Identify the major threats in general ledger and reporting activities, and evaluate the adequacy of various internal control procedures for dealing with them.18©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartControl: Objectives, Threats, and ProceduresWhat are the control objectives in the general ledger and reporting system?Updates to the general ledger are properly authorized.Recorded general ledger transactions are valid.Valid, authorized general ledger transactions are recorded.19©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartControl: Objectives, Threats, and ProceduresGeneral ledger transactions are accurately recorded.General ledger data are safeguarded from loss or theft.General ledger system activities are performed efficiently and effectively.20©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartThreats and Controls in the General Ledger and Reporting SystemProcess/ActivityThreatApplicable Control ProceduresUpdating the general ledgerErrorsInput and processing controls; reconciliations and control reports; audit trailAccess to general ledgerLoss of confidential data and/or concealment of theftAccess controls; audit trailLoss or destruction of the general ledgerLoss of data and assetsBackup and disaster recovery procedures21©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartThreat 1: Errors in Updating the General LedgerErrors made in updating the general ledger can lead to poor decision making based on erroneous information in financial performance reports. Control procedures fall into three categories:Input edit and processing controlsReconciliations and control reportsMaintenance of an adequate audit trail22©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartInput Edit and Processing Controls There are two sources of journal entries for updating the general ledger: Summary journal entries from other AIS cyclesDirect entries made by the treasurer or controller23©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartInput Edit and Processing Controls Journal entries made by the treasurer and controller are original data entry. Several types of input edit and processing controls are needed to ensure that they are accurate and complete. These are:Validity CheckField ChecksZero-balance checksCompleteness testClosed-loop verificationCalculation run-to-run totals to verify accuracy of journal voucher batch processingStandard adjusting entry file for recurring adjusting entries made each periodSign check24©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartReconciliation and Control Report Reconciliations and control reports can detect if any errors were made during the process of updating the general ledger. Examples include:Preparation of the trial balanceComparing the general ledger control account balances to the total balance in the corresponding ledger25©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartReconciliation and Control ReportThe audit trail is the path of a transaction through the accounting system. The audit trail facilitates these three tasks:Trace any transaction from its original source document to the general ledger and to any report or other document using that data.26©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartReconciliation and Control ReportThe audit trail, continuedTrace any item appearing in a report back through the general ledger to its original source documentTrace all changes in general ledger accounts from their beginning balance to their ending balance27©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartThreat 2: Unauthorized Access to the General LedgerUnauthorized access to the general ledger can result in confidential data leaks to competitors or corruption of the general ledger. It can also provide a means for concealing the theft of assets.28©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartThreat 2: Unauthorized Access to the General LedgerSome controls against this threat are:User IDs and passwordsRead-only access to the general ledgerSystem checks of authorization codes for each journal voucher record before posting29©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartThreat 3: Loss or Destruction of the General LedgerAdequate backup and disaster recover y procedures must be in place to protect the general ledger. Backup controls include:Use of internal and external file labelsPerformance of regular backup of the general ledger30©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartLearning Objective 3 Read and explain an integrated enterprise-wide REA data model.31©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartIntegrated Data ModelAn integrated enterprise-wide data model represents a merging of separate data models.This merging primarily involves linking each resource with the events that increase and decrease that resource.32©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartIntegrated Data Model(1, N)(1, 1)Cash(1, N)CashdisbursementsCashreceipts(1, 1)33©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartIntegrated Data Model(1, N)(1, 1)(1, N)CashPayemployeesIssuestockDividendpaymentDebtpaymentIssuedebt(1, 1)(0, N)(0, N)(1, 1)(0, N)(1, 1)(0, N)(1, 1)(0, N)34©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartBenefits of an Integrated Data ModelWhat are some benefits of an Integrated data model?Improved support for decision makingIntegration of financial and nonfinancial informationImproved internal reporting35©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartBenefits of an Integrated Data ModelDevelopment of a virtual value chain occurs in three stages.What are these stages?Visibility MirroringBuilding new customer relationships36©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartLearning Objective 4 Discuss and Design a Balanced Scorecard for an organization.37©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartBalanced ScorecardWhat is a balanced scorecard?A report that provides a multidimensional perspective of organizational performanceIt contains measures reflecting four perspectives of the organization:Financial CustomerInternal operationsInnovation and learning38©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartLearning Objective 5 Explain the relationship between online transaction processing systems and data warehouses used to support business intelligence.39©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartData WarehousesData warehouses, which contain both current and historical data, can provide additional support for strategic decision making.Whereas transaction-processing databases are designed to minimize redundancy, data warehouses purposely build in redundancies in order to maximize query efficiency.40©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartData WarehousesThe process of accessing data contained in the data warehouse and using it for strategic decision making is referred to as Business Intelligence.The two main techniques of business intelligence are:Online Analytical Processing (OLAP)Data mining41©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartLearning Objective 6 Understand the implications of new IT developments, such as XBRL, for internal and external reporting.42©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartOpportunities for Using Information TechnologyThe Extensible Business Reporting Language (XBRL) has addressed two problems:Different requirements for the manner in which information is delivered.The need for manual reentry of information into standalone decision analysis tools.43©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartOpportunities for Using Information TechnologyXBRL provides two benefits:It enables organizations to publish information only once using standard XBRL tags.XBRL tags are interpretable. 44©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartCase ConclusionWhat did Stephanie Cromwell and Elizabeth Venko decide?They decided that AOE needs to switch to an online general ledger system.They agreed that AOE will first acquire a general ledger package that is built on a relational database.45©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/SteinbartEnd of Chapter 1546©2003 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, Romney/Steinbart

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