The cyclical approach to accounting information systems suggests that a company can have up to 4 distinct transaction processing cycles

The cyclical approach to accounting information systems suggests that a company can have up to 4 distinct transaction processing cycles

The cyclical approach to accounting information systems suggests that a company can have up to 4 distinct transaction processing cycles. For a UK based manufacturing company:
describe the purpose and objectives of each of these cycles, the systems AND controls that would exist within each cycle, and
critically evaluate the usefulness of such a cyclical approach in the understanding of accounting information systems.
Coursework Re-sit Assignment Assessment Criteria. Coursework assignment answers should be approximately 2500 words in length and appropriately annotated. For the assessment of this assignment the following general criteria will be used:
For a 1st Class Honours (70% and above) mark:
The discussion provides an exceptional account of the major transaction cycles a UK company may possess, the purpose and objective of each of these cycles, the systems that would exist within each cycle, and the alternative types of general and application control. The discussion is critical and illustrated with appropriate and relevant examples, and demonstrates both competence and understanding together with creativity and originality. The discussion also arrives at a considered and balanced conclusion. A number of influential academic issues are explored with the overall debate providing both an analytical and critical exposition. There is comprehensive evidence of wide reading/research illustrated throughout the discussion, with relevant referencing to appropriate authority.

For an upper 2nd Class Honours (60% – 69%) mark:
The discussion provides a competent account of the major transaction cycles a UK company may possess, the purpose and objective of each of these cycles and the systems that would exist within each cycle. Some discussion on general and application controls is also provided. A competent analytical approach is taken, and important influences are explored within the context of a balanced and well-presented discussion. There is also relevant referencing to appropriate authority, with the discussion containing no significant errors and/or omissions.

Lower a lower 2nd Class Honours (50% – 59%) mark:
The discussion on the major transaction cycles a UK company may possess, the purpose and objective of each of these cycles and the systems and controls that would exist within each cycle is mainly descriptive and lacks any critical insight. Identified influences are accepted with little criticism, and little or no attempt is made to provide a critique of key procedures and controls.  Although relevant developments are discussed, illustrating some understanding of main issues, the debate is lacking in analysis and coverage. Reading and research whilst balanced and thorough is nonetheless limited.

For 3rd Class Honours (40% – 49%) mark:
The discussion of provides an adequate coverage of on the major transaction cycles a UK company may possess, the purpose and objective of each of these cycles and the systems that would exist within each cycle. However the overall context is mainly descriptive and lacks any critical insight. Identified influences are accepted without comment. The essay is somewhat unstructured with no critical comment provided. There is little evidence of reading/research, and concluding comments are somewhat limited and inconclusive.

Failure (30% – 39%):
The discussion fails to provide any account of the major transaction cycles a UK company may possess, the purpose and objective of each of these cycles and the systems that would exist within each cycle. There is little evidence of understanding with little or no evidence of reading/research.

Answer preview for The cyclical approach to accounting information systems suggests that a company can have up to 4 distinct transaction processing cycles

The cyclical approach to accounting information systems suggests that a company can have up to 4 distinct transaction processing cycles

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