Assignment Help on HI5019 Strategic Information Systems for Business and Enterprise
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The aim of this assignment is to help students to evaluate the purpose and role of accounting information systems in today’s business environment, articulate the various transaction cycles, financial reporting, management reporting systems and ecommerce systems to technical and non-technical stakeholders and appraise the risks inherent in computer-based systems/ERP, including the role of ethics and the various internal control processes that need to be in place.
Strategic Information Systems Assignment Help
After finishing your Master of Professional Accounting, you started your accounting consultancy in Brisbane, Queensland, Australia. You got a high distinction in HI5019 Strategic Information System and preferred to analyze the business processes, risks and internal controls. XYZ is one of your clients, and the CEO of XYZ is delighted with your services. The head of the accounting department is concerned about their revenue cycle. Therefore, he has recently contacted you to evaluate their revenue cycle. During the initial meeting, you elaborate him that conceptually, the revenue cycle is a recurring set of business activities and related data processing operations associated with providing goods and services to customers and collecting their cash payments. This definition reveals that the revenue cycle can be categorized into (1) sales order processing procedures (SOPP), and (2) cash receipts procedures (CRP). The SOPP and CRP of XYZ are elaborated below. Therefore, you requested the head of the accounting department to describe the SOPP and the CRP of XYZ Limited separately. This description is given below.
Required
Based on the above information, prepare a report for the CEO of XYZ Limited to evaluate their revenue cycle. In your report, you need to include the following items:
- The CEO asks you to start the report from five general risks involved in the revenue cycle of any business. Further, indicate the physical and IT control against each risk.
- Describe potential internal control weaknesses in the sales order processing procedures and cash receipts procedures of XYZ Limited.
- Discuss the potential risks associated with the internal control weaknesses identified in Section (2) above.
- Based on Section (3) above, what types are frauds are possible. Hint: we have discussed different types of frauds in the interactive tutorial and lectures. Your discussion should be based on these contents
The report should include:
- Holmes Institute Assignment Cover Sheet
- Executive Summary
- Table of Contents
- Introduction
- Main Body Paragraphs
- Conclusion
- Appendices
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