ATI ACCOUNTING FINAL EXAM STUDY GUIDE

ATI ACCOUNTING FINAL EXAM
ii ii ii ii




STUDY GUIDE ii ii



Accounting iiInformation iiSystems ii- iiCORRECT iiANSWER ii-A iisystem iithat iirecords, iiprocesses,
iisummarizes, iireports iiand iicommunicates iithe iiresults iiof iibusiness iitransactions iito iiprovide


iifinancial iiand iinonfinancial ii information iito iifacilitate iidecision iimaking. ii ii




It iiis iidesigned iito iiensure iiappropriate iilevels iiof iiinternal iicontrols iifor iithose iitransactions. ii
ii



What iimakes iiinformation iiuseful? ii- iiCORRECT iiANSWER ii-In iiorder iifor iiinformation iito iibe
iiuseful, iiit iimust ii be iirelevant iiand ii be iia iifaithful iirepresentation. ii ii


ii



Relevance: iiinformation iimust iibe iirelevant iito iithe iidecision iimaker, iicapable iiof iiinfluencing iithe
iidecisions iiof iiusers ii ii


ii



Faithful iirepresentation: iiinformation iiis iicomplete, iineutral, iiand iiis iifree iifrom iierror.
iiRepresents iithe iisubstance iiof iithe iiunderlying iieconomic iitransaction. ii


ii



What iiare iithe iimandatory iireporting iirequirements iifor iipublic iicorporations? ii- iiCORRECT
iiANSWER ii-Tax iireturns iiand iiaudited iifinancial ii statements. ii


ii



What iiis iithe iivalue iichain? ii- iiCORRECT iiANSWER ii-A iichain iiof iibusiness iiprocesses iifor iia
iifirm. ii ii


ii



Primary iiactivities: ii ii

1. Inbound iilogistics: iireceiving iiand iistoring iiraw iimaterials ii+ iidistributing iimaterials iito iiwhere
iithey iiare iineeded ii ii




2. Operations: iiactivities iithat iitransform iiinputs iiinto iifinished iigoods iiand iiservices ii ii

3. Outbound iilogistics: iiactivities iithat iiwarehouse iiand iidistribute iifinished iigoods iito iicustomers
ii ii



4. Marketing iiand iisales iiactivities: iiidentify iineeds iiand iiwants iiof iicustomers iito iihelp iiattract
iithem iito iifirm's iiproducts ii ii

, 5. Service iiactivities: iiprovide iisupport iiof iicustomers iiafter iiproducts iiand iiservices iiare iisold iito
iithem ii ii


ii



Support iiactivities: ii ii

1. iiFirm iiinfrastructure: iiactivities iineeded iito iisupport iithe iifirm ii(CEO, iifinance, iilegal, iiand

accounting iidepts.) ii ii2. iiHRM iiactivities ii ii
ii




3. Technology iiactivities iito iisupport iivalue iicreating iiactivities ii ii

4. Procurement iiactivities: iipurchasing iiinputs ii(raw iimaterials, iisupplies, iiequipment) ii
ii



What iiskills iiare iirequired iifor iiCISA ii(Certified iiInformation iiSystems iiAuditor)? ii- iiCORRECT
iiANSWER ii-- iiPass iiCISA iiexam ii ii




- have ii5+ iiyears iiin iiIS/IT iiaudit, iicontrol, iiassurance, iior iisecurity iijob ii ii

- adhere iito iiprofessional iicode iiof iiethics ii
ii



What iiskills iiare iirequired iifor iia iiCIA ii(Certified iiInternal iiAuditor)? ii- iiCORRECT iiANSWER ii--
iiBachelor's iidegree iior iihigher ii ii




- 5+ iiyears iiof iiinternal iiaudit iiexperience iior ii ii

- active iistudent iiin iifinal iiyear iiof iicollege iior ii ii

- active iistudent iiwith iiapproved iiInternal iiAudit iiEducation iiPartnership iischool ii
ii



What iiskills iiare iirequired iifor iia iiCITP ii(Certified iiInformation iiTechnology iiProfessional)? ii-
iiCORRECT iiANSWER ii


-- iimember iiof iiAICPA iiin iigood iistanding ii ii

- valid iiCPA iilicense ii ii

- minimum ii1,000 iihours iiof iibusiness iiexperience iiwithin ii5-year iiperiod iipreceding iidate iiof

CITP iiapplication ii- iipass iithe iiCITP iiexam ii
ii


ii

What iiis iithe iisupply iichain? ii- iiCORRECT iiANSWER ii-Supple iichain iirefers iito iithe iiflow iiof
iimaterials, iiinformation, iipayments, iiand iiservices iifrom iiraw iimaterials ii suppliers, iithrough


iifactories iiand iiwarehouses, iiall iithe iiway iito iithe ii final iicustomers. iiA ii supple iichain iiwill iialso