Segregation of duties - Study guides, Class notes & Summaries

Helpful in determining past and future performance, contains revenues and expenses: A) Income statement, B) Retained earnings statement, C) Balance Sheet, D) Statement of cash flows - Answer-A) Income Statement Defines Assets = liabilities + Shareholder's equity: A) Income statement, B) Retained earnings statement, C) Balance Sheet, D) Statement of cash flows - Answer-C) Balance Sheet Shows the amounts and causes of changes in retained earnings during the stated period, Solved by startin...

PCIP Exam questions with correct answers 100%PCI Data Security Standard (PCI DSS) The PCI DSS applies to all entities that store, process, and/or transmit cardholder data. It covers technical and operational system components included in or connected to cardholder data. If you accept or process payment cards, PCI DSS applies to you. Sensitive Authentication Data Merchants, service providers, and other entities involved with payment card processing must never store sensitive authen...

What information is contained in a balance sheet? - ANSWER-Report of a company's financial position as of a point in time. What is an owners' equity item? Accounts receivable Loans payable Capital stock Cash - ANSWER-Capital Stock A company ended July with assets of $150,000 and owner's equity of $60,000. What is the amount of liabilities at the end of July? - ANSWER-$90,000 What is reported in a multiple-step income statement that is not reported in a single-step income state...

preventive control - ANSWER segregation of duties detective control - ANSWER A requirement to prepare bank reconciliations corrective control - ANSWER Maintaining backups of data segregation of duties is a control aimed at ____ misstatement - ANSWER preventing the requirement to ____ journal entries is an example of a preventive control - ANSWER approve

Corporate Values - Answer-An organizations standards of behavior. Corrective Controls - Answer-IT controls that are used once errors, fraud, or other control issues have been detected. Input controls - Answer-A type of control intended to prevent computer errors by controlling data as it manually or electronically enters the system. Directive control - Answer-A type of control that is proactive and that causes or encourages a desireable event to occur; examples include guidelines, train...

Revenue correct answers inflows of assets from delivery or producing goods or rendering services - realized and earned Realized correct answers product/service is exchanged for cash/promise/other asset Earned correct answers products have been delivered or services provided Criteria for Revenue correct answers - evidence - delivered/rendered - price fixed and determinable - assured collectability Fraud Risk - Revenue correct answers - Alter Terms - Channel Stuffing - Related-Par...

CISA Questions and Answers Latest Version with Complete and Accurate Solutions **Enterprise Resource Planning (ERP) A packaged business software system that allows an organization to automate and integrate the majority of its business processes, share common data and practices across the entire organiztion, and produce and access information in a real-time environment. Examples of ERP include SAP, Oracle Financials and J.K. Edwards. **Indemnity clause a contractual transfer of risk ...

IT governance is most concerned with A. Security policy B. IT policy C. IT strategy D. IT executive compensation - correct answer C. IT governance is the mechanism through which IT strategy is established, controlled, and monitored through the balanced scorecard. Long-term and other strategic decisions are made in the context of IT governance. One of the advantages of outsourcing is A. It permits the organization to focus on core competencies. B. It results in reduced costs. C. It prov...

FCCS Certification Questions and Answers 100% AccurateFCCS Certification Questions and Answers 100% AccurateFCCS Certification Questions and Answers 100% AccurateFCCS Certification Questions and Answers 100% Accurate Financial Consolidation and Close Cloud Service (FCCS) provides a consolidation path through which dimension combination? - ANSWER-Consolidation, Currency, Account Which three key requirements does the Financial Consolidation and Close Cloud Service (FCCS) deliver to ensure a ...

Financial Consolidation and Close Cloud Service (FCCS) provides a consolidation path through which dimension combination? - Consolidation, Currency, Account Which three key requirements does the Financial Consolidation and Close Cloud Service (FCCS) deliver to ensure a modern consolidation and close solution? - Ensure security of sensitive data. Integrate with source systems. Provide a strong compliance framework that includes auditing and segregation of duties. A client company has ex...