Title: Understanding Accounting Systems and Variances in Financial Data

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Accounting System Questions
1. How does an accounting system provide accurate calculations to prevent errors?
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2. What are potential concerns related to data security?
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3. How does an accounting system save time?
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4. How does using an accounting system enable separation of duties?
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5. What are the benefits of an ERP system?
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6. What are the benefits of QuickBooks?
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Variance and Anomalies Questions
7. How can an accounting system help you find anomalies or variances in financial data?
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8. Assume you calculated a financial ratio variance of 2x the usual balance for accounts receivable. Why did you calculate a financial ratio variance of 2x the usual balance?
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9. You are a small company that calculates a normal current ratio at 1.95. This period the current ratio is only 1.45. Why has the ratio decreased?
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References
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