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Study Resources (Accounting)

Match the XBRL essential to the appropriate definition. A) Defines relationships between data B) Defines which elements are related to a particular taxonomy C) Identifies the specific amounts for a taxonomy at one instance D) Relates to data and metadata E) A dictionary that defines the XBRL tags used for specific data items 24) Taxonomy 25) Instance.
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Objective 5 1) Business Intelligence Technologies are a type of advanced data analytics used to support business decision making. 2) BI technologies store in a data warehouse that uses the relational database structure. 3) The dimension tables in a star database are dimensions of the database, such as time dimension, product information, sales.
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Objective 3 1) Sustainability recognizes the interdependencies of economic, social, and environmental factors in creating value. 2) Biomimicry is an innovation method that seeks sustainable solutions by emulating nature's patterns and strategies. 3) Sustainability, a new approach to decision making, shifts the decision focus from minimizing risk to creating value. 4) Integrating sustainability into.
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41) Which of the following is not an XBRL linkbase? A) Location link B) Calculation link C) Presentation link D) Label link 42) What information does the following XBRL tag provide? <ifrs-gp:AssetsHeldSale contextRef="Current_AsOf" unitRef="U-Euros"decimals="2">20000</ifrs-gp:AssetsHeldSale> 43) What information does the following SBRL tag provide? <ifrs-gp:Inventories contextRef="Current_AsOf" unitRef="U-Euros"decimals="2">5000000</ifrs-gp:Inventories> 44) List and define the XBRL essentials. 45) What types of linkbases are used.
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Objective 3 1) Physical controls ensure appropriate information processing, authorization, and data integrity. 2) To comply with SOX, companies must use a framework for evaluating internal control. 3) The COSO ________ provides a blueprint for implementing an internal control system to assist in ensuring the reliability of financial statements and compliance with Sarbanes-Oxley.
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Objective 3 1) Information security consists of the policies and procedures required to secure information assets, including IT hardware, software, and stored data. 2) In the private sector, data with this classification requires higher than normal security measures to ensure data integrity and security. A) Confidential B) Sensitive C) Private D) Public 3) In the.
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Objective 1 1) Initiatives for sustainability accounting do not impact the accounting system and IT requirements. 2) Enterprises and society have discovered that focusing only on bottom line profit can lead to dysfunctional results both for corporations and for society. 3) Short-term results that might appear favorable for all three bottom lines might.
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Objective 1 1) All publicly traded companies are required to use XBRL for SEC filings by June 2011. 2) Credit rating agencies must use XBRL for reporting all ratings beginning in August 2009. 3) XML is a programming language also used for Web site development that is static. 4) XBRL provides customization that prohibits.
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Objective 1 1) Most occupational frauds are committed by the accounting department or upper management. 2) The typical fraud lasts three years before it is detected. 3) Tips are the most likely means of detecting fraud. 4) Accounting professionals often refer to the fraud triangle as incentive/opportunity/rationalization. 5) ________ focuses on managing when.
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14) A decision model A) Streamlines the data collection process B) Reveals the interdependencies of economic, social, and environmental factors in creating value C) Guarantees a corporation is making the right decision D) Makes the decision process overly complex 15) True sustainability focuses on creating A) Short-term profits B) Short-term value C) Long-term value D) A and B 16) How.
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Chapter Extension 10A 1) The ________ of internal auditors establishes trust and thus provides the basis for reliance on their judgment. Match the internal auditors code of ethics principle to the appropriate definition. A) Internal auditors respect the value and ownership of information they receive and do not disclose information without appropriate authority.
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11) ________ data can easily be stored and retrieved using a database. 12) ________ uses electronic tags for data, both quantitative and qualitative. 13) For many corporations, decisions in the short term produce A) Above average profits B) Below average profits C) Extraordinary profits D) Average profits 14) Sustainability accounting collects information for which two general.
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11) A ________ graphically represents BI, allowing the user to manipulate data and view the resulting changes. 12) Business intelligence technologies reside under the control of the ________ providing the opportunity for standardization of controls to secure the system. 13) Business intelligence technologies are A) Just another form of unsecured shadow data B) Are.
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31) The closing XBRL tag includes which character? A) / B) \ C) | D) ! 32) XBRL uses the same syntax as A) Shadow data B) HTML C) XML D) B and C 33) In the XBRL Statement A, which taxonomy is used? A) IFRS B) Global Ledger C) Prepayments Current D) GAAP 34) In the XBRL Statement A, how many decimal places are.
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Objective 4 1) XBRL converts unstructured data into structured data, automating data exchange by making the data interchangeable across formats, software applications, and platforms. 2) Within the first quarter of implement XBRL, the FDIC went from a 66 percent data accuracy to A) 75 percent accuracy B) 86 percent accuracy C) 95 percent accuracy D).
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Books Ga'Lore! Invoice DFD 16) Using the Books Ga'Lore! invoice DFD, create an event-agent-datastore-control table. 17) Document the preventive and detective controls on the Books Ga'Lore! invoice DFD. 18) Document the risk level of the HotSpots on the Books Ga'Lore! invoice DFD. The following coding is used for the HotSpot DFD: - Red identifies.
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19) What is the difference between the star and snowflake structures of dimensional databases? 20) Why can data in a dimensional database with a star or snowflake structure be retrieved more quickly than from a relational database? 21) What must be done to the data before performing business intelligence analytics? 22) What is.
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11) The XBRL linkbase ________ link defines basic validation rules. For example, assets equal liabilities plus stockholders' equity. 12) The XBRL linkbase ________ link defines the relationships between the elements and the external regulations or standards. 13) The XBRL linkdase ________ link defines different kinds of relationships between elements. For example,.
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11) XBRL is a programming language that includes ________, data about data. 12) XBRL provides the capability to have a ________ for each amount or fact appearing in a financial report. 13) You can think of the XBRL tags as ________ keys for data contained in financial reports. 14) Which programming.
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Objective 4 1) Sustainability reports are used by investors, consumers, society, and others to evaluate a firm's performance in terms of profit, loss, and the ability to continue as a corporation. 2) The ISO 14000 Environmental Management framework provides specific levels of environmental performance for an organization. 3) The ability to tag qualitative.
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11) What are the five essential components of an effective internal control system listed in COSO Internal Control-Integrated Framework? 12) What factors are part of the control environment? 13) List and describe the control activities for mitigating financial, operational, and compliance controls risks. 1 .
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22) Which sustainability reporting framework focuses on providing guidance to organizations in creating an environmental management system (EMS)? A) ISO 14000 Environmental Management B) EMAS European Union C) Sigma Guidelines D) Global Reporting Initiative (GRI) 23) Which sustainability reporting framework was a joint undertaking of the British Standards Institution, Forum for the Future, AccountAbility, and.
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Objective 4 1) To understand cybersecurity and how to evaluate whether cybersecurity is adequate for an accounting system, a basic understanding of IT architecture is not needed. 2) Application software are computer programs used for managing computer hardware. 3) Wide area networks (WANs) cover a large geographic region, such as the lower.
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Objective 2 1) Dumpster diving attacks involve manipulating and tricking an individual into divulging confidential information to be used for fraudulent purposes. 2) While dumpster diving is unethical, it may not be illegal. 3) Phishing involves attempts to obtain passwords by sniffing messages sent between computers on the network. 4) Laws related.
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Objective 2 1) An accounting system must now be capable of capturing data and providing sustainability information for decision making and performance evaluation. 2) Sustainability requires corporations to consider the long view of decisions, actions, and consequences. 3) Sustainability accounting does not impact people inside the organization. 4) Hardware selection decisions could impact.
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11) What are the three phases for documenting control HotSpots? 12) What are the steps for building a HotSpot DFD? Books Ga'Lore! Shipping DFD 13) Using the Books Ga'Lore! shipping DFD, create an event-agent-datastore-control table. 14) Document the preventive and detective controls on the Books Ga'Lore! shipping DFD. 15) Document the risk level of the.
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Match the network protocol with the appropriate definition. A) A software program that provides message transportation services between sending and receiving computers B) A software program commonly used to connect computers to create a LAN C) A software program that allows the enterprise network to connect to the network of vendors and.
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Objective 2 1) The use of XBRL for financial reporting permits the SEC to review a fewer number of filings in detail. 2) Beginning in 2009, the SEC mandated the use of XBRL for SEC filings for A) Selected large publicly held companies B) All privately held companies C) Selected large privately held companies D).
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31) Describe the sustainability reporting framework ISO 14000 Environmental Management. What specification is not included in this framework. 32) What are the four steps required for an organization to receive EMAS registration? 33) What are the G3 guidelines provided by the Global Reporting Initiative (GRI)? Provide examples. 34) The Global Reporting Initiative give.
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Objective 6 1) Application controls for business processes cannot be documented using DFDs. 2) Internal controls are an integral part of business processes and the accompanying accounting transaction cycles. 3) Control ________ are control weaknesses. Match the DFD symbol to the name. A) Agent B) Dataflow C) Datastore D) Process 4) 5) 6) 7) 8) When.
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11) ________ involves attempts to obtain passwords by sniffing messages sent between computers on the network. 12) ________ involves collecting, examining, and preserving evidence of cybercrimes. 13) Cybercrimes are crimes connected to what? (Select the best answer) A) Information assets and IT B) The financial services industry C) Electronic payments D) Electronic transfer of funds 14).
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14) List the three fraud and abuse categories. Provide examples. 15) What are the elements required to prove fraud? 16) What three things must a perpetrator have to commit fraud? Include a brief description of each. 17) List and describe the principles for establishing an environment to effectively manage fraud risk. 1 .
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11) Which general IT control covers acquisition, implementation, and maintenance of system software including the operating system, DBMS, network software, and security software? A) Access security controls B) Computer operations controls C) Program change controls D) Program development controls 12) What do the audit committee's responsibilities include? 13) What are the three major objectives of an.
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Objective 4 1) COBIT provides high-level strategic guidance for meeting overall internal control objectives. 2) While COSO is a broad framework for internal control in general, COBIT provides the detailed IT processes necessary to provide IT controls for monitoring and evaluating the IT environment. 3) In the COBIT framework, which IT.
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11) The ________ is the most widely used approach to sustainability reporting. 12) The two criteria to evaluate frameworks for reporting and evaluating sustainability performance are ________. 13) The success of a framework or model is often based upon not perfection, but ________. 14) In order to be effective, the sustainability report.
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11) Which principle in the Code of Ethics for internal auditors states that they are to respect the value and ownership of information they receive and do not disclose information without appropriate authority unless there is a legal or professional obligation to do so? A) Confidentiality B) Competency C) Objectivity D) Integrity 12) Which Rule.
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Objective 1 1) The IT used in the accounting system can actually create vulnerabilities to cyberattacks of this confidential data. 2) Personal data, such as home address and credit card number, are stored on hotel card keys. 3) ________ developed the 10-domain Common Body of Knowledge (CBK) for IT security and controls. 4).
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Objective 2 1) If the internal audit revealed any significant deficiencies, it is not required to be disclosed by the signing officers of the company. 2) The SOX legislation basically requires management of privately held companies must assess and report on the effectiveness of internal controls for financial reporting using a recognized.
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23) How can the integrative decision model be expanded to encompass the additional dimension of economic, social, and environmental factors in decision making? 24) Create/draw the sustainability IDa (Integrated Decision analysis) model. 25) What is the difference between the IDM and IDa models? 26) How does the IDa model integrate sustainability into decision.
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24) You are a staff accountant in the purchasing cycle group at Acme Widgets. Acme manufactures widgets from various metals and has manufacturing plants around the world. Acme Widgets has come under pressure from various governments, environmental, and humanitarian groups to improve their sustainability practices. You are asked to provide.
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Objective 5 1) Increasingly the expectation is that the auditor and the IT professional learn more about the other's field. 2) Internal controls for the accounting system are incomplete without IT controls. 3) Application controls ensure completeness and accuracy of transaction processing, authorization, and validity. 4) Input controls ensure data is processed properly. 5).
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