Accounting Information System

1. Read Section 409 from the Sarbanes-Oxley Act of 2002. Do you agree that this supports real-time financial reporting? Research both sides of the issue and provide a conclusion based on your findings.

2.What is the overall significance of the Sarbanes-Oxley Act of 2002 to financial reporting?

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1. Find two sets of financial statements from companies within one industry. List any problems you have in comparing the balance sheets.

Describe how using XBRL could help alleviate these problems.

2.For this problem, use an enterprise system with which you are familiar, or identify a system by searching vendor sites on the Internet.

a. How does the package’s “feeder” systems compare to those presented in Figure 16.4 (pg. 626)?

b. What financial reports are included in the standard suite of reports? Is a custom report-writer module available?

Discuss the significance of report-writer modules.


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