Description
Accounting Systems and Accruals"
Please respond to the following:
For this week's Discussion, research the most common threats to a computerized accounting system using the Internet and/or Strayer databases. Be prepared to discuss.
- Upon examination of the greatest threats to a computerized accounting system, suggest two (2) preventive measures or remedies that protect the system and/or mitigate any negative impacts to the system. Provide a rationale for your response.
- Your boss is concerned that the company’s computerized accounting system is vulnerable to attack. After reviewing the system, you’re in agreement. Write a brief report (approximately one [1] paragraph in length) of how someone might hack into your systems and commit fraud with the accruals. What major damages to the company’s financial statements could result from such a fraud?”
Explanation & Answer
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Running head: ACCOUNTING SYSTEMS AND ACCRUALS
Accounting Systems and Accruals
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ACCOUNTING SYSTEMS AND ACCRUALS
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A computerized accounting system poses the risk of an individual hacking into the
system and manipulating important information, which could result to misrepresentation of a
company’s overall financial performance, especially if accruals are adjusted. Hacking into
accruals would lead to manipulation of future cash...
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