Exam 16: The General Ledger and Business Reporting GLBR Process

The important information services functions of the general ledger and business reporting (GL/BR) process emphasized in chapter 16 included two categories: (1) general ledger activities and (2) other business reporting. Briefly discuss what the general ledger (GL) process comprises and what comprises the business reporting process.

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Question 1

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The general ledger process comprises accumulating data, classifying data by general ledger accounts, and recording data in those accounts. Fueling the financial reporting, business reporting, and other reporting subsystems by providing the information needed to prepare external and internal reports. In servicing the information needs of managerial reporting, the GL interacts with the budgeting modules.
The business reporting process is concerned with the following: Preparing general purpose, external financial statements (e.g., the conventional four that you have studied in other accounting courses: the balance sheet, income statement, statement of owner equity changes, and cash flow statement). Ensuring that the external financial statements conform to GAAP; therefore, among other things, the statements must contain appropriate footnote disclosures. Generating Web-based forms of key financial statement and related business reporting information for dissemination via the Internet. Supporting the generation of both ad hoc and predetermined business reports that support operational and strategic decision making.

Business intelligence is the integration of statistical and analytical tools with decision support technologies to facilitate complex analyses of data warehouses by managers and decision makers.

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Question 2

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True

In the balanced scorecard methodology the ______________________________ component relates to the organization's ability to identify its core competencies and to assess how well it performs in these identified areas of competency.

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Question 3

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internal business processes

Sarbanes-Oxley, Section 409 states that companies ''shall disclose to the public on a(n) and basis such additional information concerning material changes in the financial condition or operations of the issuer....''

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Question 4

A performance report compares actual results with budgeted expectations.

(True/False)

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Question 5

TB Figure 16.1 is a Level 0 DFD for the general ledger and financial reporting (GL/BR) process. Required: Explode bubble 3.0, for the "Record Adjustments" process into a level 1DFD

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Question 6

Inputs to a GL/BR process typically include all of the following except:

(Multiple Choice)

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Question 7

Performance reports to various cost center, profit center, and investment center managers are usually sent by?

(Multiple Choice)

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Question 8

Which of the following individuals should possess the greatest knowledge of GAAP?

(Multiple Choice)

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Question 9

The financial reporting system is also known as the responsibility accounting/reporting system.

(True/False)

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Question 10

Normally, you would expect that business event updates would be sent to the GL/BR process by:

(Multiple Choice)

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Question 11

The business reporting process comprises all of the following except:

(Multiple Choice)

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Question 12

When implementing an ERP system, it is best to provide all users with access to all menu systems, so they can see what is going on within the system.

(True/False)

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Question 13

Adjusted trial balance figures are usually sent from the business reporting department to the:

(Multiple Choice)

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Question 14

The ______________________________ process is an interacting structure of people, equipment, activities, and controls that is designed to accomplish both operations and information system functions with the purpose of generating accounting and other reports.

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Question 15

Which of the following items is a component of the balanced scoreboard methodology?

(Multiple Choice)

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Question 16

The general ledger master data does not contain:

(Multiple Choice)

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Question 17

A journal voucher is an internal source document used to notify the GL to make an accounting entry.

(True/False)

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Question 18

The source code field of each GL entry provides a beginning point of reference for developing a proper chart of accounts.

(True/False)

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Question 19

A(n) ______________________________ is an XBRL document that contains all information, at a given point in time, including tags, about the occurrence of an item.

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Question 20

Showing 1 - 20 of 107

Business intelligence is the integration of statistical and analytical tools with decision support technologies to facilitate complex analyses of data warehouses by managers and decision makers.

In the balanced scorecard methodology the ______________________________ component relates to the organization's ability to identify its core competencies and to assess how well it performs in these identified areas of competency.

Sarbanes-Oxley, Section 409 states that companies ''shall disclose to the public on a(n) and basis such additional information concerning material changes in the financial condition or operations of the issuer....''

A performance report compares actual results with budgeted expectations.

TB Figure 16.1 is a Level 0 DFD for the general ledger and financial reporting (GL/BR) process. Required: Explode bubble 3.0, for the "Record Adjustments" process into a level 1DFD

Inputs to a GL/BR process typically include all of the following except:

Performance reports to various cost center, profit center, and investment center managers are usually sent by?

Which of the following individuals should possess the greatest knowledge of GAAP?

The financial reporting system is also known as the responsibility accounting/reporting system.

Normally, you would expect that business event updates would be sent to the GL/BR process by:

The business reporting process comprises all of the following except:

When implementing an ERP system, it is best to provide all users with access to all menu systems, so they can see what is going on within the system.

Adjusted trial balance figures are usually sent from the business reporting department to the:

The ______________________________ process is an interacting structure of people, equipment, activities, and controls that is designed to accomplish both operations and information system functions with the purpose of generating accounting and other reports.

Which of the following items is a component of the balanced scoreboard methodology?

The general ledger master data does not contain:

A journal voucher is an internal source document used to notify the GL to make an accounting entry.

The source code field of each GL entry provides a beginning point of reference for developing a proper chart of accounts.

A(n) ______________________________ is an XBRL document that contains all information, at a given point in time, including tags, about the occurrence of an item.

Introduction to Accounting Information Systems

Enterprise Systems

Electronic Business E-Business Systems

Documenting Information Systems

Database Management Systems

Relational Databases and SQL

Controlling Information Systems: Introduction to Enterprise Risk Management and Internal Control

Controlling Information Systems: Introduction to Pervasive Controls

Controlling Information Systems: Business Process and Application Controls

The Order Entrysales Oes Process

The Billingaccounts Receivablecash Receipts Barcr Process

The Purchasing Process

The Accounts Payablecash Disbursements Apcd Process

The Human Resources Process HR Management and Payroll Processes

Integrated Production Processes IPP

Acquiring and Implementing Accounting Information Systems

Filters

Exam 16: The General Ledger and Business Reporting GLBR Process

Business intelligence is the integration of statistical and analytical tools with decision support technologies to facilitate complex analyses of data warehouses by managers and decision makers.

In the balanced scorecard methodology the ______________________________ component relates to the organization's ability to identify its core competencies and to assess how well it performs in these identified areas of competency.

Sarbanes-Oxley, Section 409 states that companies ''shall disclose to the public on a(n) ______________________________ and ______________________________ basis such additional information concerning material changes in the financial condition or operations of the issuer....''

A performance report compares actual results with budgeted expectations.

TB Figure 16.1 is a Level 0 DFD for the general ledger and financial reporting (GL/BR) process. Required: Explode bubble 3.0, for the "Record Adjustments" process into a level 1DFD

Inputs to a GL/BR process typically include all of the following except:

Performance reports to various cost center, profit center, and investment center managers are usually sent by?

Which of the following individuals should possess the greatest knowledge of GAAP?

The financial reporting system is also known as the responsibility accounting/reporting system.

Normally, you would expect that business event updates would be sent to the GL/BR process by:

The business reporting process comprises all of the following except:

When implementing an ERP system, it is best to provide all users with access to all menu systems, so they can see what is going on within the system.

Adjusted trial balance figures are usually sent from the business reporting department to the:

The ______________________________ process is an interacting structure of people, equipment, activities, and controls that is designed to accomplish both operations and information system functions with the purpose of generating accounting and other reports.

Which of the following items is a component of the balanced scoreboard methodology?

The general ledger master data does not contain:

A journal voucher is an internal source document used to notify the GL to make an accounting entry.

The source code field of each GL entry provides a beginning point of reference for developing a proper chart of accounts.

A(n) ______________________________ is an XBRL document that contains all information, at a given point in time, including tags, about the occurrence of an item.

Introduction to Accounting Information Systems

Enterprise Systems

Electronic Business E-Business Systems

Documenting Information Systems

Database Management Systems

Relational Databases and SQL

Controlling Information Systems: Introduction to Enterprise Risk Management and Internal Control

Controlling Information Systems: Introduction to Pervasive Controls

Controlling Information Systems: Business Process and Application Controls

The Order Entrysales Oes Process

The Billingaccounts Receivablecash Receipts Barcr Process

The Purchasing Process

The Accounts Payablecash Disbursements Apcd Process

The Human Resources Process HR Management and Payroll Processes

Integrated Production Processes IPP

Acquiring and Implementing Accounting Information Systems

Filters

Sarbanes-Oxley, Section 409 states that companies ''shall disclose to the public on a(n) and basis such additional information concerning material changes in the financial condition or operations of the issuer....''