Task: AIS (Accounting Information System) Report (2000 words max)
Accounting Information System report about XBRL (Revolutionizing the Reporting Process).
Questions: You are an accounting information systems specialist working for Great Lakes Cargo, Inc. The company’s President, LaToya Evans, asks for your help. Recently, she read a news story about the business reporting language XBRL (Revolutionizing the Reporting Process), which, she learned, greatly changed the way financial data is communicated. She asks you to research XBRL and write a short report to distribute to the company’s executive committee. The committee needs sufficient information about XBRL to make an informed decision about the potential use for Great Lakes. Write the report for the committee. The transmittal document should be addressed to MS.Evans. Remember that neither she nor the other committee members have specialized knowledge about accounting information systems.
In addition to the requirements of this exercise, the company’s president, La Toya Evans, has indicated that while the committee does want to know about XBRL, they are most concerned about the required control system to support effective XBRL reporting. There fore, you are to include in your report a review of the minimum general and systems controls that Great Lakes Cargo Inc. would need to implement to support an implementation of XBRL. You might want to refer the “characteristics of useful information” This report needs include a transmittal document and referencing.