Accounting Information System 8

8/3/2019 Accounting Information System 8

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FACULTY OF BUSINESS ANDMANAGEMENT STUDIES

DEPARTMENT OF ACCOUNTANCY2C

group8


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y Information refers to a stimuli that has meaning in some context for itsreceiver. When information is entered into and stored into a computer . It isgenerally referred to as a data. After processing such as formatting andprinting, output data can be perceived as information. When information ispackaged or used for understanding or doing something , it is known asknowledge

y Information management is the process of capturing, indexing, retrieving ,searching and managing documents electronically including knowledgeand database management . It is the collection of information from one ormore audiences, this sometimes involves those who have stake in, or right tothat information.

y Information as we know are both electronic and physical . The organizationstructure must be capable of managing this information throughout its lifecycle regardless of its sources. Also, information management is the abilityof organization to manage, capture , preserve, store and deliver the rightinformation to the right people at the right time.

WITH REGARDS TO INFORMATION

SECURITY DISCUSS DUE CARE AND

DUE DILIGENCE AS MANAGERIAL

RESPONSIBILITY.


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INFORMATION SECURITYy Information security is the hardware, software, processes, and procedures put in place

to protect an organizations information systems from internal and external threats.This include firewalls, activities, password management, patches, locked facilities,Internet protocol strategy and perimeter control.

y SECURITY MEASURES

y FIREWALLS : It is an important method to control and secure the internet and othernetworks. A network firewall can be a communication processor , typically a router ora dedicated server, along with firewall software. A firewall server as a gatekeepersystem mat protects a companys intranets and other computer networks fromintrusion by providing a filter and safe transfer point for access to and from theinternet and other networks.

y SECURITY CODES: Typically , a multilevel password system is used for securitymanagement. First an end user logs on to the computer system by entering his/herunique identification code or user ID.


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Page 3y The end user have to provide the password in order to gain access into the

system .In addition, smart cards which contain microprocessors thatgenerate random numbers to add to an end users password are used insome severe systems. Hackers can use any unsecured computer thatsconnected to the network to access or delete information thats important toyour business. Workstations at unoccupied desks or in empty offices (suchas those used by employees who are on vacation or have left the companyand not yet been replaced) or at locations easily accessible to outsiders, suchas the front receptionists desk , are particularly vulnerable

y SECURITY MONITERS: Security at a network may be provided byspecialized system software packages known as system security monitors.System security monitors are programs that monitor the use of computersystems and networks and protect them from unauthorized use , fraud anddestruction . Such programs provide the security measures needed to allowonly authorized users to access the network.


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y BACKUP FILES: Which are duplicate files of data or programs, areanother important security measure. Files can also be protected by

file retention measures that involves saving copies of files fromprevious periods. If current files are destroyed, the files fromprevious periods can be used to construct new current files.

INFORMATION SECURITY

y Information security is concerned with confidentiality integrity and

availability of data regardless of the form the data may take.However, integrity , confidentiality and availability also elaborate themanagerial responsibility of information security with regards todue care and diligence.

DUE CARE: This is a step taken to show that a company has takenresponsibility for the activities that take place within the corporationand has taken necessary steps to help the company, its resources andemployees.

Due diligence are the continual activities that make sure theprotection mechanisms are continually maintained. The term duediligence describes a general duty to exercise care in everytransaction. As such it spans investigation into all revenant aspectsof the past ,present and predictable future of the business of a target

company. It sounds impressive but ultimately, it translate into basiccommon success factor such as working over normal hours.


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REASONS WHY DUE DILIGENCE IS CONDUCTED

Confirmation that the business is what it appears to be.Identify potential deal killer defects and targets and avoid bad businesstransaction.To gain information that will be useful for valuing assets, definingrepresentations and warranties and or negotiating price concessions.Verification that the transaction complies with investment or acquisition

criteria.

Due diligence responsibilities include a review of advertising contractsand materials management procedure and knowing what warranties andguarantee obligation are outstanding.


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HANNAH SERWAA BONSU ACT05100170

ADIIPI ATAAMAGSI THOMAS ACT05100027

OSEI TUTU FRANCIS ACT05100

ADDAI GIDEON ACT05100170

ERIC AMEDANU

DOFFOUR CECILIA

ACT05100170

ACT05100181

DEBORAH NYARKO FORDJOUR ACT05100276

ALALE EMMANUEL ACT05100170

RITA GYIMA AFRIYIE ACT05100213

Accounting Information System 8

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