"System Implementation" Please respond to the following: Evaluate the factors of significance within the structure of...

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Accounting

"System Implementation" Please respond to the following:Evaluate the factors of significance within the structure of an ITbusiness with manufacturing and determine what factors influencethe decision to create real-time data or batch processes. Explainyour answer. Recommend the implementation of controls necessary toreduce erroneous journals that could lead to financial losses forcompanies. If management establishes adequate controls andsignificant losses still occur, explain to what extent managementshould be held accountable under SOX.

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Answer 1 Difference between Batch and Real time system Information Time Frame Batch systems assemble transactions into groups for processing Under this approachthere is always a time lag between the point at which an economic event occurs and the point at which it is reflected in the firms accounts The amount of lag depends on the frequency of batch processing Time lags can range from minutes to weeks Payroll processing is an example of a typical batch system The economic events the application of employee labor occur continuously throughout the pay period At the end of the period the paychecks for all employees are prepared together as a batch Real time systems process transactions individually at the moment the event occurs because records are not grouped into batches there are no time lags between occurrence See Answer

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