a. Research and identify current technologies in use in the revenue, expenditure or conversion subsystem and explain how these technologies affect the operational and control implications for that subsystem.

Technologies in use in the revenue and expenditure or conversion subsystem
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Technologies in use in the revenue and expenditure or conversion subsystem
Currently, there are new technologies that are being used to recognize revenues and expenditure among different entities. The new models have challenges and potential issues that ought to be recognized before they are implemented. The new models will bring about changes when reporting and disclosing various accounting information to their users.
The International Accounting Standards and the Financial Accounting Standards Board have a new system of operation while dealing with revenue. The new standard has been branded ASU 2014-091 and IFRS 152 by the Financial accounting standards board and the International Accounting Standards Board respectively. The new technological provides a single model that is one fit all and supposed to be used by different companies while dealing with their accounting for revenue. These are transactions that arise as a result of business operations with customers and are different from those of old (Li, 2009).
Under the new system, there are different goods that are not considered as being distinct in their performance obligation. These are products that are promised within the premise of a contract and are dependent highly. However, the application of this new technological approach towards revenues does require proper judgment.
Under the arrangement of s…