Accounting Information Systems
10th Edition
ISBN: 9781337619202
Author: Hall, James A.
Publisher: Cengage Learning,
expand_more
expand_more
format_list_bulleted
Question
Chapter 1, Problem 5P
To determine
Show functional segments of the oil company diagrammatically.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Two or more operating segments may be aggregated into a single operating segment if the segments have similar economic characteristics, and the segments are similar in which of the following respects: I. the nature of the products and services II. the nature of the production processes III. the type or class of customer for their products and services IV. the methods used to distribute their products or provide their services V. if applicable, the nature of the regulatory environment, for example, banking, insurance, or public utilities
Which of the following statements is true for a company that has managers responsible for product and service lines of business and managers responsible for geographic areas (matrix form of organization)?a. Under U.S. GAAP, the company must base operating segments on geographic areas.b. Under IFRS, the company must base operating segments on product and service lines of business.c. Under U.S. GAAP, the company may choose to define operating segments on the basis of either products and services or geographic areas.d. Under IFRS, the company must refer to the core principle of IFRS 8 to determine operating segments.
The regional sales office manager of a national firm is most likely responsible for a(n)
revenue center
investment center
cost center
profit center
Chapter 1 Solutions
Accounting Information Systems
Ch. 1 - Prob. 1RQCh. 1 - Prob. 2RQCh. 1 - Prob. 3RQCh. 1 - Prob. 4RQCh. 1 - What is discretionary reporting?Ch. 1 - Prob. 6RQCh. 1 - Prob. 7RQCh. 1 - Prob. 8RQCh. 1 - Prob. 9RQCh. 1 - Prob. 10RQ
Ch. 1 - Prob. 11RQCh. 1 - Prob. 12RQCh. 1 - Prob. 13RQCh. 1 - Prob. 14RQCh. 1 - Prob. 15RQCh. 1 - What is the role of the accounting function in an...Ch. 1 - Prob. 17RQCh. 1 - Prob. 18RQCh. 1 - Prob. 19RQCh. 1 - What two roles are played by accountants with...Ch. 1 - Define the term attest function.Ch. 1 - Define the term financial services.Ch. 1 - Prob. 23RQCh. 1 - Distinguish between conceptual and physical...Ch. 1 - Prob. 25RQCh. 1 - Prob. 26RQCh. 1 - Prob. 27RQCh. 1 - Prob. 28RQCh. 1 - Prob. 29RQCh. 1 - Prob. 30RQCh. 1 - Prob. 31RQCh. 1 - Prob. 32RQCh. 1 - Why are custom systems more expensive than...Ch. 1 - Prob. 34RQCh. 1 - Briefly explain accounting independence.Ch. 1 - Prob. 36RQCh. 1 - Prob. 1DQCh. 1 - Prob. 2DQCh. 1 - Distinguish between financial and nonfinancial...Ch. 1 - Prob. 4DQCh. 1 - Do you think transaction processing Systems differ...Ch. 1 - Discuss the difference between the financial...Ch. 1 - Prob. 7DQCh. 1 - Discuss how the dements of efficiency,...Ch. 1 - Discuss what is meant by the statement, The...Ch. 1 - Discuss the importance of accounting independence...Ch. 1 - Prob. 11DQCh. 1 - Prob. 12DQCh. 1 - Discuss how conceptual and physical systems differ...Ch. 1 - Prob. 14DQCh. 1 - Prob. 15DQCh. 1 - Prob. 16DQCh. 1 - Prob. 17DQCh. 1 - Prob. 18DQCh. 1 - Prob. 19DQCh. 1 - Prob. 1MCQCh. 1 - Prob. 2MCQCh. 1 - Prob. 3MCQCh. 1 - Prob. 4MCQCh. 1 - Prob. 5MCQCh. 1 - Prob. 6MCQCh. 1 - Prob. 7MCQCh. 1 - Prob. 8MCQCh. 1 - Which of the following is NOT an objective of all...Ch. 1 - Prob. 10MCQCh. 1 - Which of the following best describes the...Ch. 1 - Prob. 12MCQCh. 1 - Prob. 13MCQCh. 1 - Which of the following statements is most...Ch. 1 - Prob. 1PCh. 1 - Prob. 2PCh. 1 - ACCOUNTING INFORMATION SYSTEM ACQUISITION What is...Ch. 1 - Prob. 4PCh. 1 - Prob. 5PCh. 1 - Prob. 6PCh. 1 - FUNCTIONAL SEGMENTATION The current organizational...Ch. 1 - COMMUNICATIONS Before the mid-1970s, systems...Ch. 1 - CHARACTERISTICS OF USEFUL INFORMATION All records...Ch. 1 - Prob. 10PCh. 1 - Prob. 11PCh. 1 - Prob. 12P
Knowledge Booster
Similar questions
- Direction: discussed the process of auditing the followingtransactions/accounts: b. Midstream and Downstream Sectors• Inventories• Property, plant, and equipment (PPE) c. Sector-Wide• Joint-Arrangements• Decommissioning costsarrow_forwardChoose the correct. Which of the following statements is true for a company that has managers responsible for product and service lines of business and managers responsible for geographic areas (matrix form of organization)?a. Under U.S. GAAP, the company must base operating segments on geographic areas.b. Under IFRS, the company must base operating segments on product and service lines of business.c. Under U.S. GAAP, the company may choose to define operating segments on the basis of either products and services or geographic areas.d. Under IFRS, the company must refer to the core principle of IFRS 8 to determine operating segments.arrow_forwardFor the following situations identify whether the description is a centralized or decentralized organization. A. the United States Navy B. Farahs Dominos franchise store C. Dominos Pizza D. Middies Furniture, which is divided into separate operating units, such as living room, kitchen, flooring E. the local community college, which has a single payroll department, a single administrative headquarters, and a single human resources department since it flattened its organization structure F. Conner Corporation, which promotes managers from within the organization whenever possible and which has formal training programs for lower-level managersarrow_forward
- Goodworks Software operates stores within five regions. Regional managers are held accountable for marketing, advertising, and sales decisions, and all costs incurred within their region. In addition, regional managers decide whether new stores will open, where the stores will be located, and whether the stores will lease or purchase the facilities. Store managers, in contrast, are accountable for marketing, advertising, and sales decisions, and costs incurred within their stores. Ideally, on the basis of this information, what type of responsibility center should the software company use to evaluate its regions and stores? (1) Regions; (2) Stores (1) Profit center; (2) Profit center (1) Profit center; (2) Revenue center (1) Investment center; (2) Cost center (1) Investment center; (2) Profit center (1) Profit center; (2) Cost centerarrow_forward10. Which of the following correctly describes the support activities of the value chain? The firm infrastructure includes accountants in the auditing service line of an accounting firm. Technological development includes gathering technical knowledge, hardware and software necessary for the improved operations of the other activities in the value chain. The procurement activity focuses on undertaking supplier background checks and negotiating prices. The human resource department is solely in charge of the number of employees to hire and the pay which those employees will be receiving. 11. Aling Rosa is a sari-sari store owner. Along the street where she operates her store, there are three other stores offering similar products at similar prices. What should she do to allow her business to thrive in the next three to five years? Determine whether building good supplier relations will allow her to lower costs, and therefore provide lower prices. Determine whether selling hard-to-get…arrow_forwardProfit center responsibility reporting for a service company Red Line Railroad Inc. has three regional divisions organized as profit centers. The chief executive officer (CEO) evaluates divisional performance, using operating income as a percent of revenues. The following quarterly income and expense accounts were provided from the trial balance as of December 31: The company operates three support departments: Shareholder Relations, Customer Support, and Legal. The Shareholder Relations Department conducts a variety of services for shareholders of the company. The Customer Support Department is the companys point of contact for new service, complaints, and requests for repair. The department believes that the number of customer contacts is a cost driver for this work. The Legal Department provides legal services for division management. The department believes that the number of hours billed is a cost driver for this work. The following additional information has been gathered: Instructions 1. Prepare quarterly income statements showing operating income for the three divisions. Use three column headings: East, West, and Central. 2. Identify the most successful division according to the profit margin. Round to the nearest whole percent. 3. Provide a recommendation to the CEO for a better method for evaluating the performance of the divisions. In your recommendation, identify the major weakness of the present method.arrow_forward
- You have recently been hired to evaluate the fixed assets system for Alawda Manufacturing Company. Use internal control activities and conceptual fixed asstets system as a reference to prepare a list of questions or appropriate procedures to evaluate Alawda’s internal control structure as it pertains to fixed assets processing for its factoryarrow_forwardIndigo Plc is organised into autonomous divisions along regional lines. Each divisional manager is responsible for sales, cost of operations, the purchasing and financing of divisional assets, and the management and control of working capital. The general manager (operations) will retire in July 2021. A review of the performance, attitudes and skills of several management employees has been undertaken and interviews with qualified outside candidates have also been held. The selection committee has narrowed the choice of a new general manager down to Candidate A (manager of Division South) and Candidate B (manager of Division North). Both candidates were appointed as divisional managers in late 2015. Candidate A had been the assistant manager of Division South for the four years prior to the appointment as that division’s manager. Candidate B had served as assistant manager of Division Central before being appointed to the present post. Candidate B took over Division North, newly formed…arrow_forward1. This is the evaluation of activities, systems, and controls within an enterprise for efficiency, effectiveness, and economy. * a Financial audit b. Compilation review c. Compliance audit d. Operations audit 2. The objectives of an operations audit are established based on the following, except: * a. the scope and potential risks. b. characteristics of products, processes, projects, and any changes to them. d. management systems, contractual, and legal requirements management goals and priorities 3.These performance measures draw attention to unfairness of potential social irresponsibility in terms of corporate policy and practice. * a. Efficiency performance measures b. Economy performance measures c. Effectiveness performance measures d. Equity performance measures 4. One of the activities of management to promote operations audit of efficiency is project and…arrow_forward
- Question No:1 ABC company is a subsidiary of an MNC which has its business operations across Oman. The company has 15 branches in various part of the country. The internal audit department of the company consist of 15 audit executives with a chief internal auditor. The chief internal auditor and his staff are appointed by Chief Executive officer with reporting responsibility to finance director. The scope of the work and other matters relating to internal audit department is decided by the finance director. Required; Do you find any internal control issues in the company? Do you think that the internal audit department staff can perform their functions independently? Discuss? ( Note: Explain with not less than 150 words)arrow_forwardWhich among the following is an example of routine report submitted to the management? a. Report on technological changes in the industry b. Report on general economic forecast c. Feasibility study for a new business plan/project d. Sales reportarrow_forwarddetails on Foriegn Direct Investment & Regional Economic Integration to reflect on companies' decision making related to International operationsarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,Fundamentals Of Financial Management, Concise Edi...FinanceISBN:9781337902571Author:Eugene F. Brigham, Joel F. HoustonPublisher:Cengage LearningFundamentals of Financial Management (MindTap Cou...FinanceISBN:9781337395250Author:Eugene F. Brigham, Joel F. HoustonPublisher:Cengage Learning
- Fundamentals of Financial Management (MindTap Cou...FinanceISBN:9781285867977Author:Eugene F. Brigham, Joel F. HoustonPublisher:Cengage LearningFundamentals of Financial Management, Concise Edi...FinanceISBN:9781305635937Author:Eugene F. Brigham, Joel F. HoustonPublisher:Cengage LearningFundamentals of Financial Management, Concise Edi...FinanceISBN:9781285065137Author:Eugene F. Brigham, Joel F. HoustonPublisher:Cengage Learning
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Fundamentals Of Financial Management, Concise Edi...
Finance
ISBN:9781337902571
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Cengage Learning
Fundamentals of Financial Management (MindTap Cou...
Finance
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Cengage Learning
Fundamentals of Financial Management (MindTap Cou...
Finance
ISBN:9781285867977
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Cengage Learning
Fundamentals of Financial Management, Concise Edi...
Finance
ISBN:9781305635937
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Cengage Learning
Fundamentals of Financial Management, Concise Edi...
Finance
ISBN:9781285065137
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Cengage Learning