...Cookies: Accounting Systems to Determine Product Costs ACC 561 5 May 2011 Cookies: Accounting Systems to Determine Product Costs Every company in the world is either selling something for a profit or on its way to going out of business. Successful businesses will “cost” their products or services to determine the best business mix while continuously striving for sustained optimization or improvement. This includes but is not limited to production methods, labor, quantity determinations, and selling prices. Aunt Connie’s Cookies carved its niche in the dessert market with delicious lemon crème and real mint cookies. While moving forward in determining product costs and optimal business plans for her cookies, accounting systems could provide a substantial edge. Advertising and price reduction are two complimentary techniques to increase volume of sales. While they both reduce the contribution margin for the product in question, the overall sales quantity increase could supersede the reduction of contribution margin per unit. This of course, is the desired effect: to achieve maximum profitability at an acceptable level of quality. More pertinently, this is a critical insertion point for accurate cost accounting systems and sales predictions. While an overall picture of fixed and variable costs for a company is helpful, those same costs traced and allocated to specific products is more strategic. A modular or product-based look at contribution margins could aid Connie...
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...Kudler Fine Foods Accounting System Kudler Fine Foods is considering hiring a consulting firm to assist in the implementation and execution of a new accounting system. Although Kudler Fine Foods has been able to satisfy the organizations needs with the old accounting system, upper management has decided they have the budget to implement a new accounting system. The budget for the new accounting system is $50,000 (Apollo Group, Inc, 2011). Moreover, the key features of the system will stay the same but some of these features will be upgraded. In addition, upgrading the accounting system will include new core technology, added benefits, and prove to be more cost effective in the long term. Key Features The key features and systems that will be included with the accounting system upgrade are Enterprise Resource Management, auditing software, budgeting software, Customer Relationship Management, Knowledge Management, Forecasting and Replenishing, and finance and account software. These key features will ensure the finance and accounting department can successfully track all expenditures and revenue. Furthermore, the new system will allow the department to make adjustments as needed to ensure the organization thrives and can effectively provide the best quality product for their customers while providing for their employees. Core Technology The implementation of the latest technology is important to stay competitive; Enterprise Resource Planning...
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...Accounting Systems Jeremy Void BSA 310 August 27,2012 Ivon Young Accounting Systems These days it is especially important to pay attention to details when it comes to deciding if your accounting system is providing the kind of information that may be required of you to produce. I think legal requirements and government regulations are becoming more demanding as to what they expect to see if someone such as the I.R.S. were to show up and ask for an audit. I would like to talk a little about a few of the key features, core technology, benefits, and costs of installing and maintaining an efficient accounting system and some of the benefits it would be to your company, especially in areas where details are crucial. Like the existing accounting system that you have all probably gotten used to here at Kudler, a new accounting system would be set up the same way; by modules. Each module would be more comprehensive and attentive to details that have been apparently overlooked by the present system. In the way of features, I could say that it is the most important overall feature a new system could offer this company. New technology has provided for faster, more detailed and organized data auditing and reporting. This is essential in today’s business world to keep accurate, itemized data entries in order to satisfy government business regulations such as standards set by the I.R.S. Detailed information is especially critical for a company like Kudler, whose business transactions...
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...Accounting Systems Various accounting systems has affected Riordan Manufacturing Inc. started with the sales and marketing. The sales and marketing department investigates sales that are filed in many databases, paper records, and some in microfiche. Members of the sales force maintain their own set of customer records using variety of tools. Some use paper documentation, others sales management software (Act) and others a hybrid. The company will need a new integrated sales database, management systems, and accounting systems. That would allow the departments to better understand and anticipate customer requests. This shared database would include production records of number of units produced of each item by shift and overall yearly production, which would allow for the sales department to better estimate the time of project completion and delivery. The database would also include profit and loss statements by item and group to assist the marketing, finance and production departments with future strategic plans. Riordan Manufacturing puts out annual budget allocations for marketing and accounting research. The activities include: sales force promotions, price/ volume discounts to key accounts, public relations. This data and associated trends are very important for future strategic plans to boost sales and enhance accounting and marketing. Thus it is necessary for Riordan Manufacturing to invest in advance IT system that would all centralizing historical and...
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...Accounting Information Systems; Riordan Manufacturing Accounting Information Systems; Riordan Manufacturing Looking at the company’s information page, you can observe almost anything that goes on within the company. With the shire size of a global company such as this one, you know that they have to use a lot of different systems just to remain profitable. Their web site states that “Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Its products include plastic beverage containers produced at its plant in Albany, Georgia, custom plastic parts produced at its plant in Pontiac, Michigan, and plastic fan parts produced at its facilities in Hangzhou, China”. From that information you can see that there are locations in San Jose, California, Albany, Georgia, Pontiac, Michigan, and Hangzhou, China. That many different locations require the company to use a comprehensive system just so they can communicate with each other, this is needed mostly to make sure each location is doing what it needs to, but also to keep productivity companywide at its peak. Looking at it that way there’s a need to upgrade the systems as business evolves, but the decision needs to be made at the appropriate time. The first system they have in place is called HRIS, the company profile describes the system as keeping...
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...Kudler Fine Foods: Accounting Systems Chris Kozyra BSA/310 June 30, 2014 Professor Paula Billups Kudler Fine Foods Accounting Systems According to Raiborn (2010), “An accounting system provides a systematic approach to collecting, processing, and communicating financial information to decision makers in an effective and efficient manner”(Ch. 2, An introduction to the Accounting System, para 1). Kudler Fine Foods hired a consulting firm, Smith Systems Consulting, to help select, install, and maintain a Retail Enterprise Management System (REMS). The features, technology, benefits, and cost of the accounting system will help inform the decision makers of Kudler Fine Foods and help them is directing Kudler Fine Foods’s future. Key Features There are six major modules that will be used in the new accounting system. They are the General Ledger Module, Accounts Payable Module, POS Module, Bank Reconciliation Module, Asset Management and Accounting, and Security. The General Ledger Module contains the chart of accounts, transaction details, financial reporting, budgets, and limit manual data entry. The Accounts Payable Module includes vendor codes, master files, check printing, tax and freight allocations, and bank accounts. The POS Module includes retail sales and reports, provides data to the General Ledger, and cash and credit sales transactions. The Bank Reconciliation Module handles reconciling checks, account deposits...
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...TUGAS AKHIR SISTEM INFORMASI AKUNTANSI Dosen : Haryono, Drs., M.Com. Disusun Oleh : Amanda Pratiwi S. 13/347120/EK/19389 Shilvy Candra 13/347602/EK/19402 Siti Fauziah 13/347050/EK/19385 Yuniana Rizki R. 13/347074/EK/19388 Fakultas Ekonomika dan Bisnis Universitas Gadjah Mada Yogyakarta PENDAHULUAN Profil Perusahaan Sumber : Google Platinum Internet Café merupakan sebuah perusahaan yang bergerak di bidang jasa internet dan juga café yang berdiri pada bulan Juli tahun 2009. Karakteristik bisnisnya lebih kepada konsep café internet untuk tempat berkumpul dan mengerjakan tugas. Jasa dan produk yang ditawarkan di sini antara lain persewaan komputer dan internet, percetakan (foto dan kertas), scanning, burning, pulsa, serta café. Jasa yang paling utama adalah persewaan komputer dan internet. Kantor pusat perusahaan terletak di daerah Gelagah Sari dan mempunyai empat cabang dengan nama yang berbeda. Alamat : Jalan Kaliurang Km 5,5 Sleman ,Yogyakarta 55281 Twitter : @platinum_jakal Facebook : Platinum Internet Café Struktur Organisasi Direktur Manajer Umum Manajer Operasional Kepala gudang café Kapten café Manajer Keuangan Manajer Teknis Kasir Café Wakil Manajer Operator Staf multimedia Teknisi khusus...
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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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...Developing Accounting Systems Paula R Accounting Information Systems 9-3-14 Developing accounting systems does not just happen, and they are not merely luck, the have to be planned out. They are a product of good and require proper planning and have a good project manager. You also have to have a dedicated team of professionals that can work this new system with the proper training. For a good program for an accounting system, don’t focus on the price because you are going to have to pay for a good one. There are several different ways for implementing your new accounting system. Some employees will be thrilled, and some will hate the idea of something new. Choices are: mimicking the “demo company”, “or follow that what worked at the last implementation”, or research this new approach and use the one that will best work for you and your company. The accountant roles have changed over the last several years a lot. Besides traditional accounting knowledge also comes with knowing the basic office skills and organizational skills. With those skills they will also need the knowledge of computer sharing, the understanding of information systems designs, and system development and applications. Here are a few steps that represent the implementation stage: A. Project Management: Everything should be sent through the Project Manager before anything is done. This person will have the responsibility of keeping on task of the assignments, resource availability, documentation...
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...Toward the end of the audit, auditors may attempt to verify that certain accounts receivable have been collected, or if not collected, the auditor may perform other procedures for assurance that the accounts are collectible. Auditors verify that any accounts receivable from related-parties are identified and properly disclosed. Auditors will also perform an array of analytical procedures on the report, and may perform additional procedures based on the results of that testing. c. It tells you how much you have invoiced but not yet been paid at a certain point in time. It's basically an indicator of how long it takes your vendors to pay their bill to you. d. Data needed is amount outstanding, date and company e. Mostly from your accounting program in the AR section under aging report...
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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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...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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...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, group, alphabetic...
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...LP1 Assignment: Accounting System Structure End of Chapter - Question #1 A.) An accounting information system is a computer-based method for tracking accounting activity storage by collecting the data, processing it, and reporting the information back to use internally and externally within a company. B.) The FASB conceptual framework is a guide for the accounting principles that I follow on a daily basis in every class I am taking. The FASB works as more of a building block for the AIS. The constraints, principles, assumptions, qualitative characteristics, elements of financial statements, and objective to financial reporting is what builds the AIS. Every business works with an AIS, you just may not see it. Any place you go to has a working AIS that functions from the FASB conceptual framework. With that said, the financial reporting is then consistent. This gives way for faithful representation in an organization. C.) Inputs - revenues, receipts, checks, payroll, etc.. Processes - how the AIS is going to be processes the inputs into vital information. Outputs - financial statements for internal and external reporting purposes. Storage - whether it is paper form, electronically, or both, it is easily able to be pulled up for analysis if a problem should arise. Also, it includes information for inventory, customers, and vendors. Lastly, Internal Controls - having daily backups of data and making sure there is separation of duties. One person working with processes the...
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...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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