What are advantages of accountants being involved in designing, preparing reports

Question 1

Some accounting students believe that they do not need to study information systems to be good accountants. What are the disadvantages of this point of view? What are the advantages of accountants being involved in designing and preparing reports that measure more than just financial performance?

Question 2

The given system flowchart (as in Figure 1) presents different business activities and data processing operations involved in the revenue cycle. Describe at least five (05) control weaknesses depicted in the system flowchart. (05 marks) Discuss the risks associated with the control weaknesses in identified in (a).