It Is Important To Understand That Humans And Technology Int

It Is Important To Understand That Humans And Technology Interact I

It is important to understand that humans and technology interact in all information systems. Why do you feel businesses must spend time and money to educate their employees on security matters? Post your initial DISCUSSION response by the end of day on Thursday and reply to at least two other students by the end of day on Sunday.

Select ONE ARTICLE from the following links and summarize the reading in your own words. Your summary should be 2-3 paragraphs in length and uploaded as a TEXT DOCUMENT. It is essential that you do not copy text directly from the Internet. Rephrasing and summarizing in your own words are crucial to avoid plagiarism.

Please discuss the difference between financial and managerial accounting. Are there any regulations or rules that need to be followed under either method? If so, what are they?

Paper For Above instruction

The interaction between humans and technology is pervasive in modern information systems, making cybersecurity education a critical aspect for businesses. Organizations invest in training employees on security best practices to mitigate risks associated with human error, social engineering, and insider threats. Human error remains one of the leading causes of security breaches, as many cyberattacks exploit weak passwords, lack of awareness, or negligence. By educating employees, companies aim to foster a culture of security consciousness, which enhances overall defense mechanisms against cyber threats. The financial implications of security breaches can be severe, including loss of sensitive data, financial theft, reputational damage, and legal consequences. Therefore, investing in cybersecurity education not only protects assets but also ensures compliance with regulatory standards and reduces potential liabilities.

In the context of regulatory compliance, organizations must adhere to various standards such as the General Data Protection Regulation (GDPR), Health Insurance Portability and Accountability Act (HIPAA), and Payment Card Industry Data Security Standard (PCI DSS). These regulations stipulate specific security controls and data handling procedures to safeguard sensitive information. Compliance with such regulations often requires ongoing employee training and audits to ensure adherence to security policies. Failure to comply can result in hefty fines, legal actions, and loss of customer trust. Consequently, fostering a security-aware workforce is a strategic necessity driven by regulatory requirements, ethical obligations, and the need to maintain competitive advantage in a digital economy.

The distinction between financial and managerial accounting lies primarily in their purpose, users, and regulatory framework. Financial accounting focuses on providing historical financial information to external stakeholders such as investors, creditors, regulators, and the public. It involves creating financial statements—such as the balance sheet, income statement, and cash flow statement—in accordance with Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). These standards ensure consistency, comparability, and transparency of financial reports for external scrutiny. Compliance with these regulations is mandatory, and the process is governed by established accounting rules and auditing standards.

Managerial accounting, on the other hand, serves internal decision-makers within the organization. It provides detailed, real-time or forecasted financial data to managers to assist in planning, controlling, and operational decision-making. Unlike financial accounting, managerial accounting is not governed by external standards but relies on internal policies, cost analysis, budgeting, and performance metrics customized to organizational needs. While managerial accounting does not require adherence to GAAP or IFRS, internal controls and ethical practices are vital to ensure data accuracy and integrity. Both accounting methods play critical roles in organizational governance, with regulatory considerations influencing financial reporting and internal controls guiding managerial decision processes.

References

• Benjamin, J., & Barker, R. (2014). Auditing and Assurance Services: An Integrated Approach. Pearson.
• Gibson, C. H. (2013). Financial Reporting and Analysis. Cengage Learning.
• Horngren, C. T., Sundem, G. L., & Elliott, J. A. (2013). Introduction to Financial Accounting. Pearson.
• Siegel, G., & Shim, J. K. (2014). Financial Markets and Institutions. Barron’s Educational Series.
• Williams, J., & Haka, S. (2017). Financial and Managerial Accounting. McGraw-Hill Education.
• International Accounting Standards Board. (2022). IFRS Standards. IFRS Foundation.
• United States Securities and Exchange Commission. (2023). Regulations and Standards. SEC.gov.
• European Commission. (2016). General Data Protection Regulation (GDPR). EU Law.
• Payment Card Industry Security Standards Council. (2023). PCI Data Security Standard. PCI SSC.
• Higgins, R. C. (2012). Analysis for Financial Management. McGraw-Hill Education.