HI5019 Strategic Information Systems | My Assignment Tutor

HI5019 T3 2020 Assessment 1: Individual Assignment 1 HOLMESINSTITUTEFACULTY OFHIGHEREDUCATION ASSESSMENT DETAILS AND SUBMISSION GUIDELINESTrimesterT3 2020Unit CodeHI5019Unit TitleStrategic Information Systems for Business and EnterpriseAssessment TypeAssessment 1: Individual AssignmentAssessment TitleAnalysing an Accounting Information SystemPurpose of theassessment (withULO Mapping)Students are required to:• Critically evaluate the purpose and role of accountinginformation systems in today’s business environment [ULO 1].• Articulate the various transaction cycles, financial reporting,management reporting systems and ecommerce systems totechnical and non-technical stakeholders [ULO 2].• Appraise the risks inherent in computer-based systems/ERP,including the role of ethics and the various internal controlprocesses that need to be in place [ULO 4].Weight20% of the total assessments.Total Marks20 Marks.Word limit2000 words ± 10%.Due DateThe written report is due in Week 7, dated 15th January 2021, on Fridayat 11:59 PM.SubmissionGuidelines• All work must be submitted on Blackboard by the due date along witha completed Assignment Cover Page.• The assignment must be in MS Word format, double spacing, 12-ptArial font and 2 cm margins on all four sides of your page withappropriate section headings and page numbers. HI5019 T3 2020 Assessment 1: Individual Assignment 2 • Reference sources must be cited in the text of the report and listedappropriately at the end in a reference list using Harvard referencingstyle.• Include a minimum of ten (10) references, at least five (5) from peerreviewed journal relevant to the unit. ASSIGNMENT DETAILSThe Revenue Cycle of XYZ Limited.After finishing your Master of Professional Accounting, you started your accountingconsultancy in Brisbane, Queensland, Australia. You got a high distinction in HI5019 StrategicInformation System and preferred to analyse the business processes, risks and internalcontrols. XYZ is one of your clients, and the CEO of XYZ is delighted with your services.1 Thehead of the accounting department is concerned about their revenue cycle. Therefore, he hasrecently contacted you to evaluate their revenue cycle. During the initial meeting, youelaborate him that conceptually, the revenue cycle is a recurring set of business activities andrelated data processing operations associated with providing goods and services to customersand collecting their cash payments. This definition reveals that the revenue cycle can becategorised into (1) sales order processing procedures (SOPP), and (2) cash receiptsprocedures (CRP). The SOPP and CRP of XYZ are elaborated below. Therefore, you requestedthe head of the accounting department to describe the SOPP and the CRP of XYZ Limitedseparately. This description is given below.SOPP of XYZ LimitedThe sales department receives the unstandardised sales order since customer orders aremailed, e-mailed or faxed to the sales department. The sales clerk first converts theunstandardised sales order into the standardised sales order. For this purpose, the salesrepresentative requests the missing information, if any. When the order is received, the salesclerk checks the customer’s creditworthiness of the customer from his computer terminal.Three years ago, the sales clerk requested the accounting department to provide him with alist of customers whose account receivables are written off. The sales clerk is still using thisinformation to check the creditworthiness of the customers. The sales clerk is using the sameprocedure to check the creditworthiness of the new customers.The customer’s order is rejected if the customer’s credit is not verified. The sales orderprocessing is started after the credit verification. In particular, the sales clerk records theapproved standardised sales order in the sales order system through his computer terminal.A digital copy of the order is distributed to the warehouse and the shipping departmentterminals for further processing. The computer system automatically records the sale in thesales journal. The clerk reviews this entry and files the hard copy of the customer order in thesales department.1 XYZ is a wholesaler of rafting and camping equipment that serves outdoor sports camping retailers throughout theQueensland.HI5019 T3 2020 Assessment 1: Individual Assignment 3As indicated above, the receipt of the digital sales order prompts on the computer terminal ofthe warehouse manager. Further, the stock release and the shipping notice are also accessibleat the warehouse terminal. For further processing, the warehouse manager prints out the salesorder, the stock release, and the shipping notice. Using the stock release copy, a warehouseclerk picks the selected items from the shelves and sends them to the shipping departmentalong with the stock release and the shipping notice. The warehouse manager then updatesthe inventory subsidiary ledger and the general ledger control account from his computerterminal.The shipping clerk receives the physical stock, the stock release, and the shipping notice fromthe warehouse manager. The shipping clerk matches them to the corresponding digital salesorder displayed on his terminal. If everything matches, he prints out three hard copies of thebill of lading and a packing slip. The shipping clerk sends two copies of the bill of lading andthe packing slip, along with the goods, to the carrier. The stock release copy and the shippingnotice are sent to the accounts receivable department. The third bill of lading copy is filed inthe shipping department.Account receivable clerk receives the stock release and shipping notice from the shippingclerk. Then, the accounts receivable clerk manually creates a hard-copy invoice, which isimmediately mailed to the customer. After mailing the invoice, the clerk uses information onthe stock release to update the accounts receivable subsidiary ledger and general ledger fromhis computer terminal. After the records are updated, the clerk files the stock release andshipping notice in the accounts receivable department. Sometimes, the account receivableclerk reconciles the quantities from the sales order and adjusts the account receivables.CRP of XYZ LimitedThe payments of customers come directly to the general mailroom along with other mailitems. The mail clerk performs the following tasks:• Sorts the mail,• Opens the customer payment envelope,• Removes the customer’s check and remittance advice, and• Reconciles the two documents.To control the checks and remittance advices, the clerk manually prepares two hard copies ofa remittance list. He sends one copy to the accounts receivable department, along with thecorresponding remittance advices. The other copy of the remittance list accompanies thechecks to the cash receipts department. Once the checks and remittance list arrive in the cashreceipts department, the treasurer performs the following tasks:• Reconciles the documents,• Endorses the checks,• Manually prepares three hard copies of a deposit slip,• Updates the cash receipts journal and the general ledger from his computer terminal,• Sends the checks and two copies of the deposit slip to the bank, and• Files the third copy of the deposit slip and the remittance in the department.HI5019 T3 2020 Assessment 1: Individual Assignment 4The accounts receivable clerk receives the remittance list and remittance advice from themailroom and reconciles these two documents. He then updates the accounts receivablesubsidiary ledger and the general ledger. Then, account receivable files the two documents inthe department.RequiredBased on the above information, prepare a report for the CEO of XYZ Limited to evaluate theirrevenue cycle. In your report, you need to include the following items:1. The CEO asks you to start the report from five general risks involved in the revenuecycle of any business. Further, indicate the physical and IT control against each risk.2. Describe potential internal control weaknesses in the sales order processingprocedures and cash receipts procedures of XYZ Limited.3. Discuss the potential risks associated with the internal control weaknesses identifiedin Section (2) above.4. Based on Section (3) above, what types are frauds are possible. Hint: we have discusseddifferent types of frauds in the interactive tutorial and lectures. Your discussion should be basedon these contents.ASSIGNMENT STRUCTUREThe report should include the following components.1. Holmes Institute Assignment Cover SheetThe Holmes Institute Assignment Cover Sheet is available at the end of menu itemAssessments on the Blackboard.2. Executive SummaryThe executive summary should be concise and not involve too much detail. It should makecommentary on the main points only and follow the sequence of the report. Write theexecutive summary after the report is completed, and once you have an overview of the wholetext.3. Table of ContentsThis needs to show a logical listing of all the sub-headings of the report’s contents. Note thisis excluded from the total word count.4. IntroductionTypically, the introduction is a short paragraph which includes background, scope and themain points raised in the order of importance. There should be a brief conclusion statementat the end of the introduction.5. Main Body Paragraphs with Numbered Sub-headingsThis section contains the detailed information which elaborates on the main points raised inthe introduction. Each paragraph should begin with an exact topic sentence, then supportingHI5019 T3 2020 Assessment 1: Individual Assignment 5sentences with facts and evidence obtained from research and finish with a concludingsentence at the end.6. ConclusionThis section contains a logical and coherent evaluation based on a thorough and objectiveassessment of the research performed.7. AppendicesThis section includes any additional explanatory information which is supplementary and/orgraphical to help communicate the main ideas made in the report. Refer to the appendices inthe main body paragraphs, as and where appropriate. (Note this is excluded from the totalword count.)Note: The report should be grounded on relevant literature, and all references must be citedappropriately and included in the reference list. Marking CriteriaMarking criteriaWeighting inTotal GradesThe general risks involved in the revenue cycle, and the physical andIT controls against each risk.4%The potential internal control weaknesses in the SOPP and CRP of XYZLimited.4%The potential risks associated with the internal control weaknesses inthe SOPP and CRP of XYZ Limited.4%The potential frauds in the SOPP and CRP of XYZ Limited.4%Presentation and Referencing.4%TOTAL Weight20% HI5019 T3 2020 Assessment 1: Individual Assignment 6 Marking RubricExcellentVery GoodGoodSatisfactoryUnsatisfactory(80-100%)(70-79%)(60-69%)(50-59%)(0-49%)The general risksinvolved in therevenue cycle, and thephysical and ITcontrols against eachrisk. [4 Marks]Present an excellentdiscussion on thegeneral risks involvedin the revenue cycle,and the physical andIT controls againsteach risk.Present a very gooddiscussion on thegeneral risks involvedin the revenue cycle,and the physical andIT controls againsteach risk.Present a gooddiscussion on thegeneral risks involvedin the revenue cycle,and the physical andIT controls againsteach risk.Present a reasonablediscussion on thegeneral risks involvedin the revenue cycle,and the physical andIT controls againsteach risk.Present a weak orinadequate discussionon the general risksinvolved in therevenue cycle, and thephysical and ITcontrols against eachrisk.The potential internalcontrol weaknesses inthe SOPP and CRP ofXYZ Limited. [4Marks]Correctly identify allthe potential internalcontrol weaknesses inthe SOPP and CRP ofXYZ Limited.Correctly identify mostof the potentialinternal controlweaknesses in theSOPP and CRP of XYZLimited.Correctly identifysome of the potentialinternal controlweaknesses in theSOPP and CRP of XYZLimited.Correctly identify oneto two potentialinternal controlweaknesses in theSOPP and CRP of XYZLimited.Fail to identify thepotential internalcontrol weaknesses inthe SOPP and CRP ofXYZ Limited.The potential risksassociated with theinternal controlweaknesses in theSOPP and CRP of XYZLimited. [4 Marks]Correctly identify allthe potential risksassociated with theinternal controlweaknesses in theSOPP and CRP of XYZLimited.Correctly identify mostof the potential risksassociated with theinternal controlweaknesses in theSOPP and CRP of XYZLimited.Correctly identifysome of the potentialrisks associated withthe internal controlweaknesses in theSOPP and CRP of XYZLimited.Correctly identify oneto two potential risksassociated with theinternal controlweaknesses in theSOPP and CRP of XYZLimited.Fail to identify thepotential risksassociated with theinternal controlweaknesses in theSOPP and CRP of XYZLimited.The frauds possible inthe SOPP and CRP ofXYZ Limited. [4Marks]Correctly identify allthe frauds possible inthe SOPP and CRP ofXYZ Limited.Correctly identify mostof the frauds possiblein the SOPP and CRPof XYZ Limited.Correctly identifysome of the fraudspossible in the SOPPand CRP of XYZLimited.Correctly identify oneto two frauds possiblein the SOPP and CRPof XYZ Limited.Fail to identify thefrauds possible in theSOPP and CRP of XYZLimited. HI5019 T3 2020 Assessment 1: Individual Assignment 7 Presentation andReferencing. [4 Marks]An extensive amountof high-qualityevidence from peerreviewed journalarticles and othersources was includedand used effectively tosupport discussion.A broad range ofquality peer-reviewedjournal references andother sources wasincluded and usedeffectively to supportdiscussion.An adequate range ofpeer-reviewed journalreferences wasincluded and used tosupport discussion.An adequate range ofpeer-reviewed journalreferences wasincluded and used to abasic extent to supportdiscussion.Little or no peerreviewed journalreferences wereincluded, and thesewere rarely used tosupport discussioneffectively. HI5019 T3 2020 Assessment 1: Individual Assignment 8Academic IntegrityHolmes Institute is committed to ensuring and upholding Academic Integrity, as AcademicIntegrity is integral to maintaining academic quality and the reputation of Holmes’ graduates.Accordingly, all assessment tasks need to comply with academic integrity guidelines. Table1 identifies the six categories of Academic Integrity breaches. If you have any questions aboutAcademic Integrity issues related to your assessment tasks, please consult your lecturer ortutor for relevant referencing guidelines and support resources. Many of these resources canalso be found through the Study Sills link on Blackboard.Academic Integrity breaches are a serious offence punishable by penalties that may rangefrom deduction of marks, failure of the assessment task or unit involved, suspension ofcourse enrolment, or cancellation of course enrolment.Table 1: Six categories of Academic Integrity breaches PlagiarismReproducing the work of someone else without attribution.When a student submits their own work on multipleoccasions this is known as self-plagiarism.CollusionWorking with one or more other individuals to complete anassignment, in a way that is not authorised.CopyingReproducing and submitting the work of another student,with or without their knowledge. If a student fails to takereasonable precautions to prevent their own original workfrom being copied, this may also be considered an offence.ImpersonationFalsely presenting oneself, or engaging someone else topresent as oneself, in an in-person examination.Contract cheatingContracting a third party to complete an assessment task,generally in exchange for money or other manner ofpayment.Data fabrication andfalsificationManipulating or inventing data with the intent of supportingfalse conclusions, including manipulating images. Source: INQAAHE, 2020HI5019 T3 2020 Assessment 1: Individual Assignment 9

QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER

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