Presented Below Is a List of Terms Relating to Accounting

question 29

Short Answer

Presented below is a list of terms relating to accounting information systems,followed by definitions of those terms.
Required: Match the letter next to each definition with the appropriate term.Each answer will be used only once.
________ 1.Mapping
________ 2.Compliance testing
________ 3.Extended records
________ 4.Substantive testing
________ 5.Interim audit
________ 6.Snapshot
________ 7.Parallel simulation
________ 8.Audit software
________ 9.Desk checking
________10.Tracing
A.Modification of programs to collect and store additional data of audit interest
B.Computer programs that permit the computer to be used as an auditing tool
C.Special software that is used to monitor the executing of a program
D.The first stage of a financial statement audit which has the objective of establishing the degree to which the internal control system can be relied upon
E.Provides a detailed audit trail of the instructions executed during a program's operation
F.Modification of programs to output data of audit interest
G.Direct verification of balances contained in financial statements
H.The auditor manually processes test or real data through the logic of a computer program
I.Testing to confirm the existence,assess the effectiveness,and check the continuity of operation of internal controls
J.The processing of real data through audit programs,with the simulated output and the regular output compared for control purposes

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Definitions:

PHStat

An Excel add-in designed to perform statistical analysis.

Index Fund

A mutual fund or ETF aimed at mirroring the performance of a particular market index.

Day Trader

An individual who buys and sells securities within the same trading day, often taking advantage of small price moves.

Investing

The act of allocating resources, usually money, with the expectation of generating an income or profit.