ACF 341 FINANCIAL INFORMATION SYSTEM

Instructor : Saqib Ali

Office Hours: Monday and Wednesday ____ pm to ____ pm

and at other times by appointment.
Email saqibali@lums.edu.pk, saqib.ali@pk.pwc.com

Course To provide students with a good overview of accounting

Introduction: information systems and the rapidly-growing area of information
systems consulting. Students will develop an understanding of the
principal characteristics and functions of accounting information
systems and gain an appreciation of the internal controls that
should be in place, network security issues and database design
considerations. Course participants will receive an introduction to
Oracle Applications, one of the leading enterprise resource
planning (ERP) software system used by large companies around
the world. Some aspects of electronic business, particularly
accounting also will be examined.

Learning • Understand the basic characteristics and components of

Objectives: accounting information systems
• Examine the key business transaction cycles and the various
operations and controls required to process information.
• Understand the internal controls needed to ensure
accuracy and integrity in information processing.
• Examine the different diagrams (data flow diagrams &
systems flowcharts) and other types of essential
documentation used to document the structure of
information system and information flow in them.
• Learn about the structure of enterprise systems and the
benefits and risks associated with implementing them.
• Understand the benefits and risks associated with
database management systems and how they are developed.
• Survey some of the key issues involved in analyzing a
client’s information system needs and the process of
designing a new or upgraded information system to meet
the organization’s current and anticipated future business
 needs.

Required Accounting Information Systems, Sixth Edition, Gelinas Sutton

Materials and Hunton

Grading: Mid Term Exam 20 %

Final Exam 35 %
Class Participation 10%
Project 20%
Quizzes 15%
100%

Class participation: Grading will be determined based on the students

participation in the class and it is therefore required that the students study
the relevant chapter before coming to class.

Quizzes: There will be 6 quizzes that will be held at regular intervals.

Quizzes will be unannounced.

Mid Term/Final Exams will consist of multiple choice questions, short

answer questions and essays, flowcharts and short problems.

Project: Students will be required to work in groups for the project. The size
and composition of these groups will be determined as the semester
progresses.
Course Overview

Session wise breakup of contents coverage

Session Topics to be covered Relevant Chapters in the

Text Book
01 Overview & Introduction to Information Chapter 1
Systems
02 Enterprise Systems Chapter 2

03 E-business Systems Chapter 3

Case: Vandelay
04 Documenting Information Systems Chapter 4

05 Documenting Information Systems (Contd) Chapter 4

06 General Database Concepts Chapter 5 & 6

Different Approaches to Business Process

Modeling with a focus on REA
Modeling / ER Diagrams
07 Controlling Information Systems Chapter 7

08 Controlling Information Systems (Contd) Chapter 8

09 Controlling Information Systems (Contd) Chapter 9

10 Internal Control Case

11 Systems Study: Planning and Design/
Selection and Design / System
Implementation and Operation
12 Systems Study: Selection and Design /
System Implementation and
Operation
13 ERP implementation case
14 Mid Term Exam
Session Topics to be covered Relevant Chapters in the
Text Book
15 Sales/Collections Business Process (Order Chapter 10
Entry and Sales)
16 Sales/Collections Business Process (Billing/ Chapter 11
Accounts Receivable/Cash Receipts)
17 Case
18 Purchasing Process Chapter 12

19 Purchasing Process (Accounts Payables/ Chapter 12

Cash Disbursements process)
20 Case
21 Human Resources Business Processes and Chapter 14
Payroll
22 Integrated Production Process Chapter 15

23 General Ledger and Business Reporting Chapter 16

Process
24 Overview of Oracle Applications
25 Project Presentations
26 Project Presentations (Contd)
27 Project Presentations (Contd)

Final Exam
Class Rules and Recommendations
RULE ONE: The first rule in this class is that when I or anyone else is speaking you do not speak.
That is rude, unacceptable behavior. Raise your hand to ask questions or make comments;
but if you start whispering to your neighbor, I'll tell you off real fast.
RULE TWO: I realize it is a pain but I do expect you to be here on time. If you walk in after we
have started (even just a minute or two late), you are a distraction to other people. I
expect professional behavior and professional behavior means being on time for meetings.
RULE THREE: Unless you have really got a problem, I don't expect for you to get up and stroll out
of the room until class is over. If it is not an emergency, stay in your seat.
RULE FOUR: I want you to be prepared when you walk into class each day. You are wasting your
time and someone’s money if you walk into class without being prepared to learn. I will do
my part to help you learn but you have to do your part and your part is putting in some hours
of preparation for each class. You are adults; it is time for you to realize that preparation
is the key to success. As a famous football coach (Joe Paterno) has said, "if you have the
will to prepare, the will to win will take care of itself.”

EXTRA HELP: Please know that I will be glad to give you any extra help during the semester that
you may need. If you find that you are having difficulty, please see me immediately. It is
always easier if you have specific questions. I have trouble answering the query: “can you
explain chapter 3 to me?” However, I find it much easier to answer questions such as
"where did the numbers come from on page 18?" or "why didn't the accountant add in the
extra cost in this problem?" Thus, keep a pad and whenever you have questions jot them
down. Whenever you read a chapter or work a problem or go through your notes, jot down
your questions. Think about them and, if you can't figure them out, bring them by my
office. I am always glad to talk with you.

RECOMMENDATIONS:
I've seen students try to do it every way possible and I've seen what works and what doesn't.
Based on that experience, it seems to me that - if you truly want to learn the material and get a
decent grade - there are few things you can do to improve the odds.

- One strong suggestion would be to take the class seriously from Day One. If you get behind, it
always makes catching up tough. That’s like running the 100 yard dash and giving your
competition a 40 yard headstart.

- Be consistently strong. If you are well prepared one day but weak the next, you wind up with
holes in your knowledge and that leads to a bad grade. If students have one general
weakness, it is the tendency to try hard on an irregular basis and then wonder why they
don’t do well.

- Get excited about learning. If learning is not exciting to you, then you should change courses or
get out of school. Making your mind better should be great fun - an experience that you
cherish. It's the only brain you've got and it has to carry you through life - fill it up and it
will serve you well.
- Plan to spend 2 hours of study every day. I don't mean 6 hours on Monday night or 12 hours every
other Wednesday; I mean about 2 legitimate hours every day. When student do poorly in
this class, it is almost always caused by a failure to put in the time on a consistent basis. I
wish there was a magic pill that I could give you that would allow you to learn a lot without
doing any work but I've just never found that magic pill. There are no steroids for the
brain – there is only hard work.

- Being prepared prior to class each day is the best method to gain understanding of the material.
Too many students try to take an enormous quantity of notes and then cram that knowledge
into their brain on the night before the test. Big mistake in this class. I realize that you
may have gotten through high school without learning how to study; however, as you get
ready to enter the adult world, it is time to become an efficient learner. I cannot
overemphasize that being prepared when you walk into the room every day is your most
important step in getting a good grade. It just enables you to understand and absorb what
we cover.

- Read each chapter. Read one page at a time and write down (in one or two sentences) the basic
idea of that page. For the illustrations, be sure to walk through the numbers and see where
each one comes from. That takes time but time is just going to be necessary. If you don't
understand something clearly at first, don't assume that (a) you are stupid or (b) it is
stupid. Work to figure it out. If it were easy, we wouldn't cover it in business school. In
all honesty, the “figuring it out” part is all the fun.

- The attitude that you bring to this class (or that you bring to life, for that matter) is a truly
important ingredient in your success. Play a mental game with yourself. Don't start out
assuming that the class will be a pain or that you will do poorly. Instead, assume that you
are really looking forward to adding this knowledge to your brain and that you are going to
do the work and actually enjoy the learning and that because you do the work, you are going
to make an A. Much of success and happiness is just getting into the right mindset.

- Never miss class. I make sure each class covers what I want (and expect) you to learn. Missing
class is like losing the road map.

- Come by my office early and often and ask questions (or send me an e-mail). I can frequently
resolve your problems or confusions in just a few seconds where you may waste hours trying
to figure out a problem for yourself. Make good use of my office hours - I am there for
your benefit. Even if I seem busy, I do not mind working with you at all. One of the things
I have noted: the A and B students come by often whereas the D and F students come by
hardly at all (wouldn’t you expect it to be the other way around?)

- Realize that I do want you to do well. I want you to learn the material so that you can go out in
the real world and compete with the sharks. Thus, if I beat on you, it is only because I want
you to work hard and learn something of value.

- Don't build up excuses: "I'm not good at numbers." "I don't do well in hard classes." "I don't
understand business." You are simply giving yourself permission to get a poor grade. Once
 you have permission, it becomes acceptable to you. I don't know of any talent or skill (other
than hard work) that is really necessary for this class.

- Don't assume that because you have a certain average in school, you will maintain that in this
class. Some students who have high GPAs just assume that they will get a good grade in
this course. Likewise some students believe, because they have low GPAs, that they are
destined for C's. If you put in the energy, you can get an A but not otherwise.

The most important thing you bring to this class is NOT your intelligence.
It is NOT your GPA.
It is NOT your high school background or how rich or poor your family is.

The most important thing you bring to this class is the discipline to put in the time that is
necessary on a consistent basis in order to get a good grade. If you have the discipline needed to
do the work on a daily basis, then I fully expect you to get good grade.