Professional Documents
Culture Documents
16-1
Learning Objectives
Describe the information processing operations required to update the general ledger and to produce reports for internal and external users.
Identify the major threats in general ledger and reporting activities and evaluate the adequacy of various control procedures for dealing with them. Understand the implications of new IT developments, such as XBRL, and changes in external reporting requirements, such as IFRS, for the design and operation of the general ledger and reporting system.
Discuss how tools such as responsibility accounting, balanced scorecards, and graphs can be used to provide information managers need to effectively monitor performance.
16-2
16-3
Budget activities
Adjustments
16-4
16-5
Access controls
Encryption Backup and disaster recovery procedures
16-6
16-7
16-8
16-9
Access controls
Reconciliations and control reports Audit trail creation and review
16-10
Deferrals
Reflect exchange of cash prior to performance of event e.g., prepaid revenue, prepaid expenses
Estimates
Portion of expense expected to occur over a period of time
e.g., depreciation, bad-debt expense
16-11
Corrections
Correct effects of errors
16-12
16-13
16-14
16-15
16-16
Audits
16-17
16-18
XBRL
Instance Document
Contains data from financial statements
Marked up or tagged with data describing the data
Taxonomy
Set of files defining the various elements and the relationships between them
A schema Contains the definitions of every element that could appear in an instance document
16-19
XBRL
Linkbases
Describes relationships between elements
Reference
Identifies relevant authoritative pronouncements
Calculation
Specifies how to combine elements
Presentation
How to group elements
Label
Associates human-readable labels with elements
16-20
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16-22
Balanced Scorecard
A report that provides a multidimensional perspective of organizational performance
Reflecting four perspectives of the organization Financial
Customer
Internal operations Innovation and learning Showing goals and measures Targets Actual
16-23