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ACC 317 Module Six Worksheet Guidelines and Rubric
Overview
Financial statement
ACC 317 Module Six Worksheet Guidelines and Rubric
Overview
Financial statement integrity, or ensuring relevant and reliable information is reported, is the goal of an accounting system. There are many benefits to using an accounting system to track your data over the traditional way of using Microsoft Excel or paper. Some of these include fewer errors in data security, fewer errors in calculations, and enhanced ability to perform variance analysis on your data. The traits of an effective accounting information system are cost-effectiveness, usefulness, and flexibility.
Directions
In this assignment, you will explore how accountants use an accounting system to ensure they have financial data integrity. You will respond to the questions in the Module Six Worksheet Template provided in the What to Submit section by evaluating different accounting systems. Consider that a small company may only have one or two users in QuickBooks, whereas a large company may have hundreds when using SAP or Oracle.
Specifically, you must address the following rubric criteria:
Explain how an accounting system provides accurate calculations to prevent errors.
Identify potential concerns related to data security.
Explain how an accounting system saves time.
Explain how using an accounting system enables separation of duties.
Describe the benefits of an enterprise resource planning (ERP) system (Oracle or SAP).
Describe the benefits of an entry-level system (e.g., QuickBooks).
Explain how an accounting system can help you find anomalies or variances in financial data.
Explain why you calculated a financial ratio variance of 2x the usual balance. Assume the calculated financial ratio variance of 2x the usual balance for accounts receivable.
Provide rationale for why the ratio decreased. For a small company that calculates a normal current ratio at 1.95, this period the current ratio is only 1.45.
What to Submit
Using the Module Six Worksheet Template, complete the chart by quoting or paraphrasing information from readings. Include at least one reference. Sources should be cited according to APA style.
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