Exam 16: The General Ledger and Business Reporting Glbrprocess

A responsibility accounting/reporting system includes the following:

Tracing back to individual business events that have been aggregated into account balances is done by means of a(n):

The source code field of each GL entry provides a beginning point of reference for developing a proper audit trail.

The financial reporting officer is primarily responsible for budgeting.

The ______________________________ notifies the general ledger/business reporting process of investing and financing transaction activities,

The source code field of each GL entry provides a beginning point of reference for developing a proper ______________________________.

GAAP based financial statements are sent by:

In contrast to the managerial reporting process,the financial reporting process prepares all of the following financial statements except:

The ______________________________ officer possesses expertise in preparing internal management reports.

The ______________________________ officer possesses expertise in generally accepted accounting principles.

Balanced scorecard is methodology for assessing an organization's business performance via four components: (1)financial, (2)internal business process, (3)customers,and (4)innovation and improvement activities.

Convergence implies that GAAP and IFRS standards will blend together,with differences reconciled,and ultimately we will have one set of standards that can be used world-wide.

The intent of the Sarbanes-Oxley Act of 2002 is to:

The ______________________________ process comprises preparing external financial statements,ensuring they conform to GAAP,generating Web-based forms of key financial statement and related business reporting information via the Internet,and supporting the generation of both ad hoc and predetermined business reports.

Typically,you would expect general ledger updates for financing and investing activities to be fed to the GL/BR process by:

Which of the following could be a journal voucher?

______________________________ is the process by which assurance is provided through monitoring of automated controls and business events in real-time or near real time.

Normally,you would expect that business event updates would be sent to the GL/BR process by:

Which of the following provides data to the GL/BR process?

A(n)______________________________ is an internal source document used to notify the general ledger to make an accounting entry.