ITM 100 Lecture Notes - Lecture 20: Error Detection And Correction, Accounts Receivable

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 100
• Professor: Alec Cram

Document Summary

Itm 100 ch12 systems and those engaging in e-business. Application controls occur at the input, processing, output and storage phases of transactions. To ensure that authorized transactions are processed completely, accurately and on a timely basis. Also ensure that information produced is accurate, complete, relevant and available only to authorized parties. Also ensure that duties are assigned to deter irregular or fraudulent transactions and to facilitate error detection. If general controls are weak, application controls are compromised. You should describe each control in specifics, including who, what, frequency and how, including the subject and object. Batch control totals that help prevent the loss of transactions and the erroneous posting of transaction data. The use of batch control logs in the batch control section. Amount control total totals the values in an amount or quantity field. Hash total totals the values in an identification field. Record count totals the number of source documents (transactions) in a batch.