...Accounting System Rosemarie Blakley BSA/310 April 28, 2013 Anastasia Jakubow Accounting System Although Kudler Fine Foods currently has an accounting system that they are using that seems to be adequate, the goal in the future is for the organization to continue to grow, and along with this growth is going to come the need for a more comprehensive system that can support their growing changes. We all know that proper accounting practices are one of the most important things in any business, and Kudler is no exception. After careful review of different accounting software that is out there on the market today, I personally think that QuickBooks by Intuit would be a logical solution to their growing needs. Key Features: The key features for this new accounting system should include all of the things that are necessary for the growth of a smaller enterprise. The software should be able to keep track of all of the company’s financial transactions. It should be a financial accounting and reporting system all in one. The software should also have the capability to record all of their transactions as well as report all of the operating data at the end of each quarter or month, whichever the organization prefers, and it also needs to help analyze all of their financial data. QuickBooks accounting software does well to allow for journal entries by debiting and crediting the financial accounts, such as liabilities, assets, revenues, and expenses. Kudler can even use this software...
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...Effects of Technology on the Accounting Profession ACC/210 August 15, 2011 Effects of Technology on the Accounting Profession Technology, information, software, and even the machines used to input, translate, and interpret the data we enter are ever evolving at shocking rates. We must constantly stay on top of our skills in order to be able to navigate through the vast screens, shortcuts, functions, and utilities stored in these small computers that have the capacity to do what would take a room full of human brains to do in a fraction of the time. In a time where nearly every occupation can be automated, accounting is nearly no exception, but notice I did say ‘nearly.’ With a vast array of software programs, data collection methods, and forms of technologies to keep accounting professionals up to the minute on their financials, there is little reason to justify the use of the antiquated legal sized general ledger books anymore. By integrating AIS effectively in the manufacturing industry, the accounting department where I work has been able to promptly and accurately produce cost analysis reports for the machines we produce, determine our SG&A at any given point, and determine whether a customer’s credit can be extended based on their average days of payment. AIS are invaluable tools that are overlooked for the value that they truly add to an accounting department. An accounting information system is a system that combines traditional accounting practices such as the Generally...
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...The Effects of Technology on the Accounting Profession Eliot Sherman ACC/340 June 11, 2015 Michael Raponi According to Accounting Web, the next decade will see industries transition to a Cloud-enabled world where work can be accomplished anywhere, anytime. This will especially be true of the accounting profession, according to Intuit, as such tools as Cloud-connected smartphones and tablets will enable firms to provide clients with an "accountant in their pocket" at all times. In the modern age, technology is constantly evolving and this has an effect on every profession, especially accounting. Processes and procedures are becoming less manual and more automated. Accounting begun being all written and having hard copies as the only backup. Systems are becoming more advanced and powerful which allows them to aggregate large amounts of data. As time went on, new software and hardware allow calculations to occur more quickly and allow backup to be more readily accessible. As well, with accounting constantly changing, the standards and regulation overseeing the profession were as well. As well, a lot of companies in the early 2000s when the technology bubble was building, companies such as Enron and WorldCom tried to take advantage of lax audit rules and committed extensive fraud. This constantly requires technology to change to allow for it to be in line with what is required, specifically in relation to audits and GAAP. In this digital age, technology adapts and improves...
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...Information System Proposal BIS / 220 5 September 2012 TABLE OF CONTENTS 1. Introduction 2. Scenario 3. Accounting Information System 4. Finance Information System 5. POM Information System 6. Marketing Information System 7. Human Resource Information System 8. Reference SCENARIO: I and my business partner are considering starting a small, brick & mortar, nostalgic record store. My friend does not have much experience with information systems or technology, and needs a basic understanding of the different types of information systems available to businesses. In this paper I will give a proposal of the types of information systems that would work well for my business, and their benefits and drawbacks. 1. ACCOUNTING INFORMATION SYSTEM When you hear the word accounting you immediately think of numbers, various paper ledgers, journals and long hours of work. That was years ago, today business owners and managers review their company's financial information using a new cost efficient technique that has improved financial information reporting. The Nostalgic Record Company will use automated function computers servers and intranets for electronically processing financial information. The system will allow our company to collect and gather financial...
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...Finance and Accounting Information systems used in Aviation sector Finance and Accounting Information systems used in Aviation sector SUBMITTED BY: BHAVIK K. VORA 421 MBA (Tech.) Telecommunications Contents | SR. NO. | TOPICS | PAGE NO. | 1 | Aviation Sector: An overview | 3 | 2 | Effect of information system in aviation sector | 3 | 3 | Finance and accounting information system | 4 | 4 | Sirax Airfinance platform by Lufthansa systems syssystesm | 4 | 5 | Sirax Revenue Accounting | 5 | 6 | Sirax Cost Accounting | 8 | 7 | Sirax Business Intelligence | | Aviation industry: An overview The aviation industry traditionally grew due to increase in demand of business travellers as the companies started expanding their operations in different places all over the world. Moreover rise and income of the people had a positive effect on the tourism industry and thus leading to the growth of aviation industry. Deregulation and Privatisation of the aviation industry provided further impetus to its growth. Since 1970, the growth rate in the aviation industry has been about 6-7% Sirax Airfinance platform by Lufthansa systems With respect to the uncertainties that airlines are facing today, Sirax Airfinance platform can prove to be of great help to the airlines as it provides the right information at the right time. It keeps the airline updated about their operations and financial condition. It provides the airline with timely, accurate...
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...Polytechnic University of the Philippines Sta. Mesa, Manila College of Accountancy and Finance CHAPTER 1: ACCOUNTING INFORMATION SYSTEMS AND THE ACCOUNTANT Submitted By: Angeles, Jireh Nesamiel L. Carullo, Shery Lyn A. Gutierrez, Joe Mar C. Monforte, Roselyn G. Reyes, Edward Angelo A. BSA 3-9 Submittes To: Prof. Leandro Cruz Fua WHAT’S NEW IN ACCOUNTING INFORMATION SYSTEMS? Cloud Computing—Impact for Accountants According to Ron Gill, cloud computing is a way of using business applications over the Internet—such as the way you use the Internet for your bank transactions. Think of cloud computing as a way to increase IT capacity or add capabilities without investing in new infrastructure, training new people, or licensing new software. Mostly, we’re talking about a subscription-based or pay-per-use service that makes IT’s existing capabilities scalable whenever the need exists. Estimates suggest that the fast-growing cloud computing industry will reach $42 billion by 2012. Cloud computing resources may be categorized as data storage, infrastructure and platform, or application software (i.e., business applications such as purchases, HR, sales, etc.). If a firm would like to take advantage of cloud computing, it would most likely need to subscribe to all three of these categories from the service provider. For example, business applications depend on company data that is stored in the database, and data storage depends on the appropriate infrastructure...
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...School of Business ACC/340 Version 4 Accounting Information Systems I ACC/340 Schedule 10/10/2013 – 11/07/2013 Campus: Puerto Rico Campus Group ID: BA0913RE 3 Credits 36 Hours Copyright © 2009, 2007, 2005, 2004, 2003, 2001 by University of Phoenix. All rights reserved. Course Description This course is designed to provide accounting students with the proper mix of technical information and real-world applications. Areas of study include fundamental concepts and technologies (what computers can do for business), the Internet, intranets, electronic commerce, information systems development, basic project management principles, decision support systems, and the benefits of computer and human synergy. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Bagranoff, N. A., Simkin, M. G., & Strand, C. S. (2008). Core concepts of accounting information systems (10th ed.). New York, NY: John...
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...INTERNSHIP REPORT ON ACCOUNTING INFORMATIONSYSTEM OF REAL ESTATE BUSINESS IN BANGLADESH”-AN EMPIRICAL STUDY OF [pic] PREPARED FOR Farzana Afrin Internship Supervisor & Lecturer Dept. of Business Studies Stamford University Bangladesh. PREPARED BY Mahmood Hossain Id: 02707400 Section: 27(Q) Date: LATTER OF TRANSMITTAL April Ms Farzana Afrin Lecturer Stamford University Dhanmondi, Dhaka Dear Madam, I feel myself fortunate enough for having the scope to conclude the study on “The Accounting information System of Real Estate Business in Bangladesh”-An Empirical study of Building For Future Ltd, Which you assigned me to do as a part of the study. Obviously, this type of practical work made me acquainted with “Real Estate Finance” in real life situation. Here, I can’t deny the help that I got from the staff of Building For Future Ltd. who ensured me a full congenial atmosphere to access over a plenty of information with relevant papers and a practical survey. I am thankful to them for showing their highest degree of tolerance in answering my inexorable questions, sometimes repeated. I would enthusiastically provide you related information depending on your queries. The report was prepared under your able leadership and I do respectfully appreciate guidance to me to learn about...
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...ACC 564 Entire Course Accounting Information Systems http://homeworkfy.com/downloads/acc-564-entire-course-accounting-information-systems/ To Get this Tutorial Copy & Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Homeworkfy@gmail.com Visit our Site for More Tutorials: (http://homeworkfy.com/ ) ACC 564 Week 2 Assignment 1 – Information Needs for the AIS In 1967, Russell Ackoff presented a classical analysis of misinformation in management (Ackoff’s Management Misinformation Systems, Case 1-1, pg. 21 of the text). Now, you need to fast-forward to the present. After reading the case, craft your own version of misinformation in management by developing five (5) key incorrect assumptions that management makes about its accounting information systems. For this assignment, research the Internet or Strayer databases for information related to improper assumptions concerning accounting information systems. Write a five to seven (5-7) page paper in which you: Based on your research, assess how corporate leaders may make improper assumptions related to accounting information systems and the related information. Indicate the most negative potential impacts on business operations related to these assumptions. Provide support for your rationale. Suggest three to four (3-4) ways in which organizational performance may be improved when information is properly managed within a business system. Provide support for your rationale. Evaluate the level of...
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...ACC 564 Entire Course Accounting Information Systems http://homeworkfy.com/downloads/acc-564-entire-course-accounting-information-systems/ To Get this Tutorial Copy & Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Homeworkfy@gmail.com Visit our Site for More Tutorials: (http://homeworkfy.com/ ) ACC 564 Week 2 Assignment 1 – Information Needs for the AIS In 1967, Russell Ackoff presented a classical analysis of misinformation in management (Ackoff’s Management Misinformation Systems, Case 1-1, pg. 21 of the text). Now, you need to fast-forward to the present. After reading the case, craft your own version of misinformation in management by developing five (5) key incorrect assumptions that management makes about its accounting information systems. For this assignment, research the Internet or Strayer databases for information related to improper assumptions concerning accounting information systems. Write a five to seven (5-7) page paper in which you: Based on your research, assess how corporate leaders may make improper assumptions related to accounting information systems and the related information. Indicate the most negative potential impacts on business operations related to these assumptions. Provide support for your rationale. Suggest three to four (3-4) ways in which organizational performance may be improved when information is properly managed within a business system. Provide support for your rationale. Evaluate the level of...
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...Accounting Information Systems, 13e (Romney/Steinbart) Chapter 1 Accounting Information Systems: An Overview 1.1 Distinguish data from information, discuss the characteristics of useful information, and explain how to determine the value of information. 1) Which of the following statements below shows the contrast between data and information? A) Data is the output of an AIS. B) Information is the primary output of an AIS. C) Data is more useful in decision making than information. D) Data and information are the same. Answer: B Objective: Learning Objective 1 Difficulty: Easy AACSB: Analytic 2) Information is best described as A) raw facts about transactions. B) data that has been organized and processed so that it is meaningful to the user. C) facts that are useful when processed in a timely manner. D) the same thing as data. Answer: B Objective: Learning Objective 1 Difficulty: Easy AACSB: Analytic 3) The value of information can best be determined by A) its usefulness to decision makers. B) its relevance to decision makers. C) the benefits associated with obtaining the information minus the cost of producing it. D) the extent to which it optimizes the value chain. Answer: C Objective: Learning Objective 1 Difficulty: Moderate AACSB: Analytic 4) An accounting information system (AIS) processes ________ to provide users with ________. A) data; information B) data; transactions C) information; data D) data; benefits ...
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...Accounting Information Systems, 12e (Romney/Steinbart) Chapter 1 Accounting Information Systems: An Overview 1) Which of the following statements below shows the contrast between data and information? A) Data is the output of an AIS. B) Information is the primary output of an AIS. C) Data is more useful in decision-making than information. D) Data and information are the same. Answer: B Page Ref: 4 Objective: Learning Objective 1 Difficulty : Easy AACSB: Analytic 2) Information is A) basically the same as data. B) raw facts about transactions. C) potentially useful facts when processed in a timely manner. D) data that has been organized and processed so that it's meaningful. Answer: D Page Ref: 4 Objective: Learning Objective 1 Difficulty : Easy AACSB: Analytic 3) The value of information can best be defined as A) how useful it is to decision makers. B) the benefits produced by possessing and using the information minus the cost of producing it. C) how relevant it is. D) the extent to which it maximizes the value chain. Answer: B Page Ref: 4 Objective: Learning Objective 1 Difficulty : Moderate AACSB: Analytic 4) An accounting information system (AIS) processes ________ to provide users with ________. A) data; information B) data; transactions C) information; data D) data; benefits Answer: A Page Ref: 10 Objective: Learning Objective 1 Difficulty : Easy AACSB: Analytic 5) Information that reduces uncertainty...
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...Computer Information System Brief Tina Monteverdi Accounting Information Systems ACC/542 July 15, 2013 Milan Havel Computer Information System Brief Kudler Fine Foods prides their selves on providing an upscale environment with all of the very best domestic and imported foods and wines. They have an experienced and knowledgeable staff that is able to assist customers. The founder, Kathy Kudler developed a business plan and obtained a financing and was able to open a store all within a six month time a turn that business into a profitable business in the first year. Over the next five years 2 more stores were opened and continuing to thrive. In order to continue growing Kudler’s is evaluating their accounting information system needs and determine if there are changes that can be made to improve their systems with either system changes or technology upgrades, as well as identify an potential technology threats that may need to be addressed. Identify Kudler’s Key business and Accounting Information Needs Kathy Kudler and her management team understand the benefits of a system that would meet the needs of this business and help to continue to thrive. Kudler’s computer system will be used to integrate their point of sale (POS) systems along with their asset management and accounting, accounts payable modules, general ledger, bank reconciliations, and lastly one of the most important systems the security systems. “The initial business plan for Kudler’s included...
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...HI5019 Strategic Information Systems for Business and Enterpise (T1, 2013) Assignment (20% of Final Mark) The assignment has two parts namely Part A (20 marks) & B (20 marks). Part A will require you to answer four (4) questions. Part B will involve two (2) cases selected form you textbook, Accounting Information Systems 8th edition by James A. Hall. The assignment aims to develop an understanding of Accounting Information Systems structure and their use in the business setting. The task is to answer questions relating to transaction processing, ethics, fraud and internal control. This assignment itself includes several assignments, each of which comprises a part of the students’ task. However, it is well encouraged to include any additional information that students may think will be useful in completing the task. General Rules and Requirements: Reports must be confined to 3,000 words (+/- 5%). As a minimum, a title page, table of contents page (based on your report headings), introduction, conclusion and references should be included. Font type should be Arial (size 11), paragraph spacing should be 1.5. Note: Any additional material from external sources that you “copy and paste” into your report is NOT included in the word limit. Also, ensure it is appropriately referenced. PART A (20 marks) 1. How does SOX affect the provision of attest and advisory services? (5 marks) 2. Compare and contrast the relative advantages and disadvantages of sequential, block,...
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...written by hand or typed. ACC/BUS 333.01 Semester Test 1 Name:___________________________________ Multiple Choice Questions: Please circle the best response. (1.5 points each) Which of the following is not an example of a source document?Receiving reportPurchase orderSales orderAging reportJob costing systems are most appropriate for:a)Home builders b)Textbook publishers c)Beverage companies d)both a and b are appropriate industries for job costing systems An important input to the sales process is: A customer sales order The cash forecast Aged accounts receivable information A receiving report It is generally true of not-for-profit organizations that they: Are profit-oriented despite their name Are always evaluated using profit measuresAre not governed by accounting standardsEmphasize funds rather than income in their internal accounting systems 5. According to the text, all of the following are objectives of the human resource management process except: a) Hiring, training, and employing workers b)Counseling employees on retirement and medical benefits c)Maintaining employee earnings records d)Reporting on payroll deductions 6. Which of the following outputs (reports) are common to both the sales process and the purchasing...
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