Accounting Systems And Information Assurance

Question: Discuss about the Accounting Systems And Information Assurance. Answer: 1. For years know financial service providers have been innovatively introducing new instruments and methods that could enable consumers and businesses to deliver and pay their bills electronically (Kasera, 2013). Hence, it has led to the wide use of electronic bill payment (EBP), and electronic bill presentment and payment system. Therefore, I will distinguish how the two operate and the existing similarities and differences between them. In Electronic bill payment system it operates under the notion of trust and acceptance compared to the traditional settings where consumers could see the product, examine it and then pay. Here, the customer doesnt see the product at time of transaction, and the payment channel that is used is electronic. Hence, this payment system allows payment of goods and services online through use of integrated software and hardware systems. Similar to EBP system, the electronic bill presentment and payment still operates under the notion of trust and acceptance, as bills are created delivered and paid over the internet. Here, this service has applications from many industries, and financial service providers to telecommunication firm and utilities (Kasera, 2013). Looking at the similarities and differences between these two systems: Similarity Difference Electronic bill payment systems and electronic bill presentment and payments systems both work under the notion of trust and acceptance since the clients havent seen the products. In both systems bills are paid electronically via the internet. In EBPP Systems there exist some obstacles of complexity in the billing systems and process that is used by competing banks, as for EBP thats not the case (Kasera, 2013). In EBPP it tends to be expensive and risky for financial institutions because of the complexity in the systems, hence firm prefer using EBP because of its simplicity. In EBPP systems users ability to adapt is low, but for EBP systems their adaptability is high. Still on EBPP, the biller is supposed to develop and in-house EBPP solution for successful usage of the system, but for EBP the billers only require a credit card to clear their bills. 2. In reviewing what the university database contains, I have been able to identify that one transitive dependency which is; instructor number relies of course number, whereas course number relies on course title, and course title relies on students. To effectively analyze the logic underlying in the table and how the university works based on third normal form. First, observations made shows that they have broken the transitive dependencies on the entity diagram. It was okay that the instructor number relied on the course number, but through the use of third normal form breaking of the instructor number to become a foreign key is quite significant for the entity diagram. The instructor number can still remain in the university table database. Hence, the designation of a foreign key by the university still satisfies the third normal form. In a way that there is a relation between the instructor number and name. In undertaking such a step, the university has successfully eliminated the updates anomaly. To better visualize this here is the new course title, instructor number and name tables with data. Course Title Instructor number Instructor name Financial Modeling 1 AARON Accounting information systems 2 KARIN Accounting information systems 5 PAUL Environment accounting 3 HELEN Know the course title instructor number isnt dependent on the course title. Therefore, they two dont rely on each other form values. Their only dependency is only on the primary key (Sampson, 2015). Hence, the entity diagram is quite proficient since it satisfies the requirements of third normal form. In most practical sense this tends to be usually sufficient, but other cases may require further data modeling refinements. 3.Observations done suggest that organizations establish entities for different purposes such as taxes. According to (Dibble, 2010) definition externally entities are the stakeholders who arent found within a business itself, but it cares and is affected by its performance. A good example in our case would include the students. On the other hand, internal entities are those entities found or are affected within the organization. To justify, the correctness of my colleague I will provide the need of having internal entities in and external entities out. The reason as to why internal entities are supposed to be in is for the purpose on management, employee and owners effective analysis (Dibble, 2010). For instance, managers can analyze the organization performance and positions, and effective measures to improve the company results based on internal entities, while on the external environment investors use the external entities to assess the feasibility of them investing in any institution. Therefore, my colleague was correct based on the above discussion that there is need of differentiation. References Kasera, A. (2013).Electronic payment systems. New Delhi, Random Publications. Dibble, R. (2010).Collaboration for the common good an examination of internal and external adjustment. Irvine, Calif, University of California, Irvine. https://proquest.umi.com/pqdweb?did=2065696381sid=21Fmt=2clientId=48051RQT=309VName=PQD. Sampson, A. (2015).Generic Design and Modeling Databases: Third Normal Form. https://www.books24x7.com/marc.asp?bookid=94564.