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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Q2. Which department or person should play the key role in defining master data and assuring its quality?
In my opinion, the financial department should be the key entity that defines master data and assure its quality as well. I made this assumption based on what the financial department role during the SAP, or ERP in general, processes. When…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Q1. Master data in an ERP system is highly integrated with various processes and effects many parts of the organization. How does an organization assure this integration works well for all?
A single ERP system contains a variety of business processes. For that reason, master data should be integrated into a standard/comparable format. I think…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Q4. All companies are dynamic entities with employees and others using systems coming and going all the time. What best practices have you experienced or would you recommend for managing system users and their related security access?
In my church, I work there as an Information Technology Support. Recently, I help the IT department to…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Q3. What key (1-2) competencies does the person responsible in a company for security (e.g. for a given process) need to have to be successful? Why?
1. Curiosity: I believe curiosity is number one competency for the person responsible in a company for security. That is, the ability to pick up/capture any suspicious or abnormal…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Q2. Security in an ERP system (e.g. SAP) is complex. What is the most fuzzy, difficult to understand component? Explain
Security in an ERP system is very complex because the system per se is complex. Many different parts of the system need to be evaluated and assessed to make sure there are no security issues. To me, the most fuzzy or…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 11 months ago
Q1. What is segregation of duties and why is it a commonly used control? Give an example of two (e.g. IT) roles that should be segregated?
Segregation of duties (SoD) is an internal control that is created to prevent error or fraud by making sure that one individual does not have a full-access to every portion of a task. That is, at least two…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 7 years, 12 months ago
Q3: Consider the list of financial and accounting controls. Rank them. Which to you believe is the most important, the least. Why?
1. Separation of Duties
Separation of duties involves splitting responsibility for bookkeeping, deposits, reporting and auditing. The further duties are separated, the less chance any single employee has of…[Read more] -
Seunghyun (Daniel) Min posted a new activity comment 7 years, 12 months ago
Q2: What is the relevance of only being able to have one posting period open at a time for real time postings? What does this prevent from happening?
One of the main reasons for only being able to have one posting period open at a time for real time postings is to prevent users from entering wrong information to wrong posting period. As we…[Read more]
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Seunghyun (Daniel) Min commented on the post, Week 8: Questions, on the site 7 years, 12 months ago
Q1: Do you believe business rely too much on administrators to configure the security protocols in programs like SAP, rather than look for security in the entire network? Explain
With respect to this question, I would say yes and no. I think it really depends on what you do or who you are in your organization. Over the summer, I worked for the…[Read more]
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Seunghyun (Daniel) Min commented on the post, Week 8: Questions, on the site 7 years, 12 months ago
Q4: You’ve used various computer systems in your lifetime, career. System security is complex and often maligned as cumbersome, difficult, eurocratic, etc. Have you seen these problems in your experience? Explain
In my past experience in the Korean Army, I was in the Signal Corpsman unit. Since we dealt with a lot of confidential i…[Read more]
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Seunghyun (Daniel) Min commented on the post, Week 7 Questions, on the site 8 years ago
Sean- I agree with your point. I also think it would be more effective to train someone over to hire already trained personnel. When people are trained in a certain way, they then tend to do it in the way they were trained at the first place. It would take a time and cost to train them; however, the bright side is that they will be trained to…[Read more]
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Seunghyun (Daniel) Min commented on the post, Week 7 Questions, on the site 8 years ago
Great post, Priya. Time zone reminded me one of the SAP assignment questions. We had to control the time zone within the US since the business dealt with domestic customers. As you mentioned above, based on the geographical extents setting time zone controls will vary. If you wanted to do your business in Asia, you would need to add their calendar…[Read more]
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Seunghyun (Daniel) Min commented on the post, Week 7 Questions, on the site 8 years ago
Joshua- I heard the term that Accounting is a business language. I can’t agree more with that being said. Accounting is the very basic elements of the business operations. Paying for goods and receiving money for selling products are simple transactions; however, they are what Accounting is all about. Having said that, when I use SAP in class to…[Read more]
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Seunghyun (Daniel) Min commented on the post, Week 7 Questions, on the site 8 years ago
Alex,
Nice post. You are absolutely right about the ERP system that help management oversee its organization from its operating perspective. That is, the ERP system is the key to run their business effectively and efficiently. To that end, the personnel who are responsible for I/T controls should have a good sense of how the ERP system works…[Read more]
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Seunghyun (Daniel) Min commented on the post, Week 7 Questions, on the site 8 years ago
Q2. As we continue to learn about business processes and ERP systems we often discuss financial or account related terms and concepts. How much finance and accounting knowledge should IT personnel supporting business applications know and learn? Explain
I think it is imperative for IT personnel to be aware of the financial/account related…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 8 years ago
Laly,
Great thoughts! I also agree that many small businesses don’t have enough budgets to support their cyber security. The cyber security budgets are an expense cost and those small companies just don’t even want to be bothered to spend their money on things not directly related to their profit increase. And even if some companies are…[Read more]
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Seunghyun (Daniel) Min commented on the post, Week 6 Questions, on the site 8 years ago
Good discussion here! Sales teams are absolutely dedicated to bringing more businesses into their company or business. At the same time, I also believe they can become an effective means to collect payments. When I recall that I was working at the grocery store, I had to write a check many times to the sales representatives because some vendors…[Read more]
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Seunghyun (Daniel) Min posted a new activity comment 8 years ago
Said and Fangzhou,
Rightly said! Expanding a business into other countries is very difficult and requires a lot of effort to do so. However, in today’s world, it is also important to do multi-country or global business. The reason is very obvious because there are definitely far more opportunities out there. Pursuing international business is…[Read more]
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Seunghyun (Daniel) Min commented on the post, Week 6 Questions, on the site 8 years ago
Binu,
I agree with you that Finance should focus more on to collect payments; however, Sales team’s duty is not only limited to market or sell their products, but they can also play a role of bridge to help Finance to collect their payments from the customers on time and in right process.
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Seunghyun (Daniel) Min commented on the post, Week 6 Questions, on the site 8 years ago
Q2: Who in an organization should care more about the collections process – Finance or Sales? Explain
Finance should care more about the collections process. This is because the Finance department is the direct entity to collect money and report those processes into the system. If any payment is unpaid or not collected, it is mainly the F…[Read more]
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