Information Technology in Accounting

Course	V-804-INTA
Semester	20242
ETCS	7,5
Core	No

Year	1. year
Semester	Summer 2024
Level of course	N/A
Type of course	Elective
Prerequisites	No prerequisites.
Schedule	No schedule found.
Lecturer	Einar Örn Sigurjónsson Jón Bjarki Gunnarsson Sunna Dóra Einarsdóttir
Content
The purpose of the course is to provide students with profound knowledge in accounting information systems and with skills and competences to design, implement, use and manage accounting information systems. In this context, the course addresses accounting information systems in the context of both management accounting and financial reporting. The following topics and concepts are covered: The use of information technology is an integrated part of business management. One of the primary information systems in the company is the accounting information system where information technology plays a crucial role. Small companies typically use simple accounting information systems with little functionality, while larger companies use accounting information systems that are integrated with other modules such as sales, distribution, purchasing and human resource (i.e. Enterprise Resource Planning (ERP) systems). In an integrated environment, the accounting information system supports the business processes, registers information throughout the process and aims at real time reporting to decision makers. Looking at accounting information systems being offered from vendors such as SAP, Microsoft Business Solutions, and Oracle the trend is towards more integration regardless of company size. Generally, accounting information systems need to be designed to safeguard company assets and secure quality of information. Here, safeguarding assets means securing data, preventing and/or detecting internal or external fraud as well as protecting the accounting information system from external threats such as hackers and physical damage. Securing quality of information means minimizing the risk of erroneous or wrong data entering the system and detecting it should it happen anyway. Safeguarding assets and securing information quality is done by using internal control systems and activities including controls specifically aimed at the information system as well as controls that are broader in nature. This includes separation of duties, application controls, validation checks and authorizations. Developments in information technology and accounting information systems require employees with knowledge of how information systems and accounting unite. This includes, e.g., accountants, controllers, consultants and auditors.
Learning outcome - Objectives
The student should: - Know the central elements of corporate information systems including ERP systems - Describe the role and integration of accounting systems in ERP systems - Present the main business processes of a company and describe how these are supported by an ERP system - List the main risks that ERP/accounting information systems face and the control categories and types that can be used to minimize these risks - Know the main steps in information system audits - Describe the main steps in the selection and implementation of ERP systems including accounting information systems The student should: - Match control types to threats - Identify control weaknesses in descriptions of IT-supported business processes - Propose controls to match risks in IT-supported business processes - Design simple dataflow diagrams and flowcharts - Interpret data flow diagrams and flowcharts describing information systems The student should: - Evaluate the need for different types of controls in a given IT-supported business process - Evaluate the adequacy of internal control structures in various IT-supported business processes - Plan the main steps of an overall information system audit - Plan the main steps of an ERP selection and implementation project
Course assessment
Reading material
No reading material found.
Teaching and learning activities
Language of instruction	Icelandic