You Are Consulting for the Information Technology Division of a State

question 51

Essay

You are consulting for the information technology division of a state university to guide and facilitate the design of a new system for handling college applications,which has previously been handled entirely with a paper-based process.They would like to set up a system by which prospective students can apply online.Describe in detail their first steps and any studies they should perform before designing the new information system.

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Definitions:

Financing Activities

Refers to the transactions and events that affect long-term liabilities and equity of a company, including issuing debt, selling shares, and paying dividends.

Direct Approach

A method of income statement preparation where expenses are listed directly against revenue items to show the net income.

Indirect Approach

A method often used in preparing cash flow statements where net income is adjusted for non-cash transactions and changes in working capital.

Investing Activities

Transactions involving the purchase and sale of long-term assets and investment securities, as part of a company’s cash flow activities.