Active Review 1.1 Refer to the chapter opener, Meet Business Intelligence. In your opinion, how can business intelligence create value using the accounting system? Students’ opinion may differ. However, their opinion should include: Increase profitability, improve customer relationship, increase sales by targeting the right customer category, and in general improving all aspects of business activities. 1.2 Refer to the chapter opener, Meet Business Intelligence. Discuss the importance of sales data in creating business intelligence for an organization. Business intelligence allows organization to continuously monitor their sales transaction. By monitoring sales, enterprise can fine-tune other business processes such as purchasing, production, advertising, and customer service. 1.3 Pick your favorite Accounting Insight from Chapter 1. Discuss why it’s your favorite. The answer to this question depends on the student selection and his/her reason for selecting it. 1.4 What are the modules in the baseline accounting system model? Discuss the purposes and transactions associated with each module. 1. Vendors. This module encapsulates all data and business processes related to vendors. The transactions associated with Vendors module are: Create purchase Order, Receive Items, and Enter Bills. 2. Customers. This module encapsulates all data and business processes related to customers. The processes associated with Customers module are: Create Invoice, and Receive Customer Payments. 3. Employees. This module encapsulates all data and business processes related to employees. The processes associated with Vendor module are: Enter Time and Calculate Payroll. 4. Banking. This module encapsulates all data and business processes related to organization banking. The processes associated with Banking module are: Pay Bills, Make Deposit, Pay Employees, and Pay Payroll Liabilities. 5. Financials. This module encapsulates all data and business processes related to the organization financials. The processes associated with Financial module are: Adjusting Entries, Correcting Entries, Closing, and ad-hoc financial activities. 6. Reports. This module encapsulates all data and business processes related to the accounting reports. The processes associated with Reports module are: Management Reports, Tax Reports, External Financial Reports, and Sustainability Reports. 1.5 Discuss how the features of a spreadsheet and a database are similar and how they are different. A spreadsheet shows rows and columns of a table and that is same as database table’s records and fields features. Actually, a spreadsheet row is a record and a column is a field in a database table 1.6 Discuss the potential risks if a company’s accounting system is not well secured. Unauthorized access to the accounting data and software could result in valuable information being stolen or damaged and virus or other malicious software damage accounting systems software. 1.7 Discuss the benefits of an integrated enterprise system