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The transaction would increase an asset account and increase a liability account

write 200-250 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

The general manager of a business encounters many different types of business transactions. Provide an example for each of the following transactions that would describe its effect on the accounting equation. Each situation is independent of the other situations.

  1. The transaction would increase an asset account and increase a liability account. 
  2. The transaction would decrease an asset account and decrease the owner’s equity account. 
  3. The transaction would increase an asset account and increase the owner’s equity account. 
  4. The transaction would decrease an asset account and decrease a liability account.
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Conduct an asset identification, threat identification, vulnerability appraisal, risk assessment, and risk mitigation

250 WORDS

Perform an abbreviated risk management study on your personal computer. Conduct an asset identification, threat identification, vulnerability appraisal, risk assessment, and risk mitigation. Under each category, list the elements that pertain to your system. What major vulnerabilities did you uncover? How can you mitigate these risks? What is your plan for securing your personal system? Are you going to implement the plan? Why or why not?

Reply to responses. 75 to 100 words

A. Mireille

Hello everyone,

After performing abbreviated risk management on my personal computer, I discovered the following:

1. Asset Identification: I found PII like phone number, full name, email address, debit card information, and home address.

2. Vulnerability Appraisal: My system needs an update, and I need to use a password manager.

3. Threat Identification: Lots of spam emails and viruses

Risk assessment: Firewall settings can easily be compromised, the probability that malware may go undetected is high, and some of my passwords are compromised.Risk mitigation: To mitigate these risks, I will need to install a password manager, activate the Malwarebytes license, and always keep my system updated.To secure my personal system, I plan on making sure the firewall is enabled before I go online, activating the Malwarebytes license, using complex and secure passwords, always keeping my system up-to-date, making sure I keep ignoring email messages from unknown parties, and never clicking on links or open attachments that accompany them, making sure my home network is secure, and developing the habit of using two-factor authentification. For better protection from hackers, I plan on implementing this plan.

B. Ethan

Asset Identification: Various forms of PII: Addresses, passwords, saved website loginsThreat Identification: Outdated software, phishing emails, potentially malicious filesVulnerability appraisal: Lacking a licensed & activated anti-virus other than Windows’, Potentially vulnerable firewall configurations, default DNS provider

Risk assessment: Firewall settings could be breached, Potential malware may go undetected, DNS queries are not private

Risk mitigation: Active a Malwarebytes license, update & configure Windows Defender & Firewall, use Cloudflare Warp for private, fast, and filtered DNS queries.

One of the major vulnerabilities that I found on my system is the lack of an active & licensed antivirus service. I use Malwarebytes although with the free version, scans must be completed manually and there is no active protection. This risk can be easily mitigated through activating a Malwarebytes license. I also plan to use a password manager and remove any stored passwords from websites. I am going to implement the plan after choosing a password manager. I think these simple yet effective steps will greatly improve the risk mitigation on my computer.

C Hayden

Asset identification: Payment information, addresses, PII.

Threat identification: Viruses, firewall configurations, security patches.

Vulnerability appraisal: Firewall being configured wrong could lead to a data breach on my computer, and software being out of data could also lead to a breach.

Risk assessment: The firewall being configured improperly is a major risk. Software being out of date is a moderate risk. Risk mitigation: Configure the firewall for personal use, and update software.The biggest risks on my computer are the firewall not being configured to the perfect settings and having potential ports open that could lead to a breach. Additionally, some of the software on my computer needed to be updated, one of these updates being a security patch. To mitigate these risks I could look up ports that are not required for my current network, and update software that needs to be updated. The plan to secure my personal system is to set up my firewall and update my software. I will be implementing my plan, as updating software is not very difficult, and the firewall is a good idea

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Information Asset in Clearwater: Risk Determination

Risk Management 

ASSET INVENTORY

Identify ALL possible assets the case organization would have and associate them with their media – some of which have been identified for you.

Complete all tables in the RM project template. 

Add all information assets to CC|IRM Application (Under Asset Inventory). Complete asset description screens, including complete asset descriptions of at least 25 words for all assets.

Group into appropriate media as specified in the tutorial. 

RISK DETERMINATION

Enter and populate Risk Questionnaires for your top (1) Information Asset in Clearwater: Risk Determination/ Risk Questionnaire List. In this task you will specify the level of risk for each media by indicating the risk likelihood and impact. Follow the tutorial for specific steps. 

RISK RESPONSE

Determine if your current controls are sufficient, or whether you should change your risk control strategy.  Sort the list under the Risk Response menu – Risk Response List by Risk Rating and complete the forms/screens for the top 15 ratings for your top (1) information asset. Follow the tutorial for specific steps.

SUBMIT REQUIRED DOCUMENTS

Prepare the following documents by selecting: 

  • Reports/Asset Inventory Report, then the Printer icon and “Excel” in the upper right corner.
  • Reports/Risk Rating Detail Report, then the Printer icon and “Excel” in the upper right corner.
  • Reports/Risk Response Detail Report, then the Printer icon and “Excel” in the upper right corner.
  • Add your completed Word Template with Tables 1-3.

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risk, threat, vulnerability, asset, and impact of loss

After reading chapter 1, define the following terms risk, threat, vulnerability, asset, and impact of loss.  After you define each term identify their role within an organizations secuirty posture. The initial post must be completed by Thursday at 11:59 eastern.  You are also required to post a response to a minimum of two other student in the class by the end of the week.  You must use at least one scholarly resource. Every discussion posting must be properly APA formatted.Your initial response is due by Thursday of each week of the course and you must respond to a minimum of two other learners during the week.Your responses to other students must be more than a simple “Good job” or “I agree with your post”. They must also not just be “Let me add to your post…” Instead, your responses to each other should do three things:1. Acknowledge the other student’s post with some form of recognition about what they posted2. Relate their posting to something you have learned or are familiar with3. Add to the conversation by asking additional questions about their post, or discussing their topic furtherRemember, this is a discussion forum. Your engagement with each other should be similar to how you would speak with each other if you were seated at the same table talking. Plagiarism in the discussion will not be tolerated.
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