MonashUniversity
Semester Two Examination 2013
Faculty of Business and Economics
Department of Accounting and Finance
EXAM CODES: AFF2851
TITLE OF PAPER: ACCOUNTING INFORMATION SYSTEMS & FINANCIAL MODELLING
EXAM DURATION: 3 hours
READING TIME: 10 minutes
THIS PAPER IS FOR STUDENTS STUDYING AT: (office use only - tick where applicable)
Berwick Clayton Peninsula Distance Education Other (specify)
Caulfield Gippsland Sunway Open Learning
During an exam, you must not have in your possession a book, notes, paper, calculator, pencil case, mobile phone or other material/item which has not been authorised for the exam or specifically permitted as noted below. Any material or item on your desk, chair or person will be deemed to be in your possession. You are reminded that possession of unauthorised materials in an exam is a disciplinable offence under Monash Statute 4.1.
AUTHORISED MATERIALS
CALCULATORS YES NO
(If YES, only calculators with an 'approved for use' Faculty label are permitted)
OPEN BOOK YES NO
SPECIFICALLY PERMITTED ITEMS YES NO if yes, items permitted are:
This paper consists of two (2) parts printed on a total offourteen (14) pages, plus a multiple choice answer sheet. Part A has twenty (20) multiple choice questions. The answers to Part A should be entered on the multiple choice answer sheet provided. Part B has four (4)sets of written answer questions.
Students must attempt to answer ALL questions.
STUDENT ID: …………………………... DESK NUMBER: …………………….
PLEASE CHECK THE PAPER BEFORE COMMENCING. THIS IS A FINAL PAPER. THIS EXAMINATION PAPER MUST BE INSERTED INTO THE ANSWER BOOK AT THE COMPLETION OF THE PAPER. NO EXAMINATION PAPERS SHOULD BE REMOVED FROM THE EXAMINATION ROOM Part A – Multiple-Choice Questions (22 marks)
This section comprises TWENTY (20) multiple-choice questions. You need to choose the ONE (1) alternative that BEST completes the statement or answers the question. Each question is worth 1.1 marks. Attempt ALL questions.
Question A1.
COSO (Chapters 5 and 14):
Question A2.
A procedure operates as follows: ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒Which irregularity will be discovered or prevented by this procedure? (Chapters 16-17)
Question A3.
Which one of the following statements about information systems is true? (Chapter 1)
Question A4.
Which sequence of events is illogical? (Chapters 7-8)
Question A5.
In which phase of the System Development Life Cycle should ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ be specified? (Chapters 19-20)
Question A6.
Why is ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ typically sent to ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓?(Chapters 7-8)
Question A7.
After ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒, the managing director has decided to improve internal control procedures. Which methods are most likely tobe successful?(Chapters 19-20)
Question A8.
With which stage in the auditing process is ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ conducted? (Chapter 18, pp. 579-583)
Question A9.
After investigating ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒, the investigating police officer believes ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒. Which auditing technique will not assist in determining if the police officer’s suspicions are correct? (Chapter 17 and Chapter 18 pages 583-593)
Question A10.
▒▒▒▒▒▒▒ receives▒▒▒▒▒▒▒▒▒▒▒▒▒when▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ occurs. Which internal control problem will be detected by this procedure? (Chapters 7-8 and 17)
Question A11.
Process modelling (Chapter 3, Chapter 19)
Question A12.
Which one of the actions below is an example of an application control plan? (Week 11 lecture, textbook pages 137 and 187, and Chapter 17)
Question A13.
Before ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒, the following procedure is performed: ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒. This procedure will help reduce the risk of: (Chapter 17)
Question A14.
Use of spreadsheet models …
Question A15.
Financial functions (Week 7)
Question A16.
This question is based on the spreadsheet below. What formula is needed in Cell B6 to calculate ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒?
Question A17.
Formula design (Week 3 and Week 7)
Question A18.
Formula design (Week 3 and Week 7)
Question A19.
Logical functions (Weeks 4 and 10)
Question A20.
Financial functions (Week 7)
Part B – Short Answer Questions (78 marks)
Question B1
Figure 2: Tables related to the ▒▒▒▒▒▒▒▒▒▒▒▒ process with attributes shown in boxes
(a) Figure 2 above shows an REA model of some of the tables used in the ▒▒▒▒▒▒▒▒process for a company. Based on the attributes of the entities shown and the relationships between those entities (the cardinalities), describe ▒▒▒▒▒▒▒▒▒▒▒.
(b) Draw an REA model, complete with cardinality symbols, to represent the resources, events, and agents involved in the▒▒▒▒▒▒▒▒▒ activities in the following scenario:
▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒.
Note: you do not need to show attributes. Only entity names and cardinalities are required.
(4 + 14 = 18 marks)
Question B2
For each of the following scenarios,
I. identify a potential or actual problem caused by the activity described (that is, do not simply repeat the problem statement; instead, describe the underlying problem),
II. briefly describe one control designed to detect the problem once it occurs, and
III. describe another (different) control that would have prevented the problem from occurring in the first place:
a) ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒.
b) A detective from the Australian Federal Police ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ to ▒▒▒▒▒▒ ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ while ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ and ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒.
(6 + 6 = 12 marks)
Question B3
Data Flow Diagrams (DFDs) were presented in this unit as one way to document business processes and information systems. Based on the scenario presented below, draw the required diagrams and answer the related questions.
Required
a) Draw a Context Diagram for the ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ process.
b) Draw a Level 0 Logical DFD for the ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ process. In your diagram, record a title for each data flow. Below the diagram, provide a table of entities and activities that shows the activities associated with each entity.
c) During the▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒process described above, a ▒▒▒▒▒▒ has to decide ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒.
(i) Describe three types of information potentially stored in the organisational database that ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒could use when making this decision, and the file used to store each type of information.
(ii) Describe a problem with the ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ process above (either an inefficient work practice or a potential control problem), explaining why it is a problem, and how the company might fix the problem without hiring new staff or compromising existing internal controls.
(4 + 18 + (3 + 5)) = 30 marks)
Question B4
Refer to the ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ spreadsheet in Figure 3 below.
a) Describe one method that could be used to control data entry for Cell B1 by either ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒, or ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒. Be specific about the functions or commands you recommend using.
b) Write a ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ command for Cell B2 that shows▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒.
c) Detail the ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒ function needed in Cell A10 to show▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒
d) Show the formula needed to calculate ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒.
e) Describe another way to perform the calculation in your answer to part (d) and explain ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒.
(3 + 3 + 5 + 4 + 3 = 18 marks)
END OF EXAMINATION 