...Findings The Department of Trade and Industry has a semi-automated accounting system. The entity uses Electronic New Government Accounting System (E-NGAS) along with Microsoft Excel, Payroll Credit System (PACS), Land Bank of the Philippines (LBP) Bank Transmittal and Check Preparation System to prepare their payroll. The City Government of Legazpi has a fully automated accounting system. Like the Department of Trade and Industry, it uses Electronic New Government Accounting System (E-NGAS). However, in addition to E-NGAS, the City Government of Legazpi uses a software called Base Bytes Payroll System specifically designed to prepare their payroll. Meanwhile, the Department of the Interior and Local Government is using a manual accounting system. The strengths ans weaknesses of automated accounting information systems do not apply to the manual accounting system used by the Department of Interior and Local Government. Delays sometimes happen and the cashier and employees claim that some errors are found in their payroll. The employees also report complaints. The semi-automated accounting system, as used by the Department of Trade and Industry, is simple, fast and flexible. Data is well-organized and consistent. Storage and accessibility of information is highly reliable and it provides complete and credible information. Using a semi-automated accounting system, reports are released and payroll is distributed on time. Employees support this claim by stating they...
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...Automated Process of Accounting Information Systems Time management, effective processes, and reliable internal control are keys to a business’ success. The core activities of any for-profit businesses revolve around payroll, accounts payable, accounts receivable, and inventory processes. Any deficiency in any of those four processes can impair a company’s ability to operate and drive it to failure. Those four main activities must run smoothly and efficiently if a company aspires to be successful. Kudler Fine Foods (KFF) is not exempt from those requirements. KFF does have a well-designed accounting process, but that system is not integrated, and each store is operating on its own with the owner juggling all the time between the three branches to perform some control and to make financial decisions for all of them. Those four activities must be streamlined and integrated in order to render KFF more efficient and effective. In this summary, we will analyze the pros and cons associated with an industry-specific software, or develop customized software. We will look at various enhancement and automation options available to KFF. We will also develop flowcharts to show the flow of data into and from each of the four systems analyzed. Prioritize the Four Main Systems The priority of the four main systems should be automation of the payroll system first. Then, the Inventory process needs to be automated and from there that will connect to the accounts receivable and ending with...
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...account and the balances are used to provide the equality of debits and credits. Assets are listed first followed by liabilities and then owner’s equity. The trial balance proves that the accounts balance, but does not ensure that all transactions were entered or entered in the proper accounts. At Huffman Trucking we have decided to integrate an automated accounting information system (AIS) using internal controls to ensure the correct data and information reach the right departments in a timely manner. We will explore the importunateness of the AIS internal control and how they are different from a non-automated system. Integration of the automated AIS When it comes to the trial balance, companies can find at the end of the accounting cycle the trial balance has many errors. We would like to introduce the trial balance that is completely automated and could alert the company if any errors were to occur at any given time. We should have a system set up to remind the accounting department to check the trial balance for errors on a weekly basis. As stated by Netmba.com (2007), “The more often the trial balance is calculated during the accounting cycle, the easier it is to isolate any errors; more frequent trial balance calculation narrow the time frame in which the error might have occurred, resulting in few transactions through which to search,” (¶ 6). This allows time to check for any missed transactions as well. The accountant in charge could take a look at transactions for the...
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...EVALUATING FEDEX INFORMATION SYSTEMS List the business processes displayed in the video Based on the video uploaded in youtube, focusing on the procedures of packages’ sorting and shipment (and not on any other e.g Receiving and handling paper bills of lading, dealing with customer specific shipping information etc), one could identify the following business processes: - Collecting packages from senders’ location - Transferring packages to the Sorting Centers - Scanning packages for calculating volume - Sorting packages per destination - Loading packages to containers - Weighting loaded containers - Transferring loaded containers to airport - Loading containers onto Fedex’s fleet - Monitoring & controlling flying operations - Transferring packages to the Sorting Centers of each destination district - Delivering packages to recipients’ locations List the types of information systems shown in the video. Can you describe how systems that were not shown might be used at fedex? The information systems shown in the video are the following: - Information System for collection data entry and process (e.g data regarding sender’s location, date/time of collection etc) - Information System for shipping data entry and process (e.g data regarding recipient’s location/choice of consignment service – standard, express etc) - Information System for calculating...
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... OTIC ELECTE SEP11W THESIS AUTOMATED FINANCIAL MANAGEMENT INFORMATION SYSTEM FOR NAVY FIELD ACTIVITY COMPTROLLERS by Shaun Kevin Taylor March 1990 Thesis Advisor: Second Reader: Glenn D. Eberling William J. Haga Approved for public release; distribution is unlimited. UNCLASSIFIED SECURITY CLASSIFICATION OF THIS PAGE REPORT DOCUMENTATION PAGE lb RESTRICTIVE MARKINGS Ia.REPORT SECURITY CLASSIFICATION Unclassif led 2a. SECURITY CLASSIFICATION AUTHORITY 3. DISTRIBUTION /AVAILABILITY OF REPORT 2b. DECLASSIFICATIONiDOWNGRADING Approved for public release; distribution is SCHEDULE unlimited. 5. MONITORING ORGANIZATION REPORT NUMBER(S) 4. PERFORMING ORGANIZATION REPORT NUMBER(S) 6a. NAME OF PERFORMING ORGANIZATION 6b. OFFICE SYMBOL 7a. NAME OF MONITORING ORGANIZATION (If applicable) I Code 37 Naval Postgraduate School Naval Postgraduate School 7b. ADDRESS (City, State, and ZIP Code) 6c. ADDRESS (City, State, and ZIPCode) Monterey, Ca. Monterey, Ca. 94943-5000 9. PROCUREMENT INSTRUMENT IDENTIFICATION NUMBER A 8b. OFFICE SYMBOL (If applicable) 8a. NAME OF FUNDING/SPONSORING ORGANIZATION 93943-5000 10. SOURCE OF FUNDING NUMBERS 8c. ADDRESS (City, State, and ZIP Code) PROGRAM ELEMENT NO. WORK UNIT ACCESSION NO. TASK NO. PROJECT NO. II. TITLE (Include Security Classification) * Automated Financial Management Information System for Navy Field Activity Comptrollers ...
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...Assignment One: Information Needs for the AIS Lindsay Bostick ACC 564 Accounting Information Systems Note: This assignment is submitted on April 15, 2016 to Dr. Ahmad Abudiab in fulfillment of a requirement for successful course completion. Introduction of Accounting Information Systems “Accounting is a data identification, collection, and storage process as well as an information development, measurement, and communication process. By definition, accounting is an information system, since an AIS collects, records, stores, and processes accounting and other data to produce information for decision makers (Romney, p. 10).” The accounting process controls what happens in other groups such as marketing, services, human resources, sales, IT, staff, customer service, organizational, and inventory. Decisions are only made if the accounting team allows them to. Funding needs to be budgeted and accounted for before any money is spent within those other teams. “An AIS can be a paper-and-pencil manual system, a complex system using the latest in IT, or something in between. Regardless of the approach taken, the process is the same. The AIS must collect, enter, process, store, and report data and information (Romney, p. 10).” It doesn’t matter if the accounting team uses software such as QuickBooks, an internal accounting system, or just an EXCEL spreadsheet to collect the information as long as it is timely and accurate. The company that...
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...System Integrity and Validation Vincent A. Davis, Jr. ACC/542 October 21, 2013 Irene Branum Preface In the last few weeks the accounting firm, Team D has looked into characteristics of Kudler Fine Foods and provided recommendations to update and replace existing components of the IT system. These recommendations made can yield in the company’s increased productivity, profitability, and remove potential threats. Team D determined that industry specific software is useful in comparison to customized software. Four main modules such as payroll, account payable, accounts receivable, and inventory were developed as well as enhancement of each flowchart based on the appropriate system. Team D examined the database completeness at Kudler’s intranet and developed a pivot table; therefore, making the decision-making process easy. External and internal risks were analyzed and internal control points were developed by incorporating both risks and controls into a flowchart. Team D also showed why findings and recommendations are more useful to the company in comparison to SAS70 and SAS94 audits. The team identified events that will lessen the dependence on auditing through computer and showed a brief description how the audit should be conducted. System Integrity and Validation Kudler Finer Foods has looked for recommendations regarding the company, to include computer information system, automated process of an accounting information system, data table analysis, internal control...
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...Change Management Report: Kudler Fine Foods Automated Inventory System XXXXX July 28, 2014 HRM 310 XXXXX INTRODUCTION The following report provides an update of the change management process for the installation of an automated inventory system at all Kudler Fine Food (KFF) stores. The plan outlines how the change will be introduced and managed with employees, the intent to begin with a pilot at the La Jolla store, ways to address resistance, as well as ways to engage employees, cultural alignment, and the evaluation that will be done when the pilot implementation concludes. Change Management Project Overview The planning for implementation of the automated inventory system pilot at the La Jolla store is nearly complete. The implementation of an automated inventory system will impact every area of KFF’s operations. Therefore, Nadler’s Congruence Change Management Model is being used. Use of this model enables us to align the implementation of this system with current processes. It also enables us to assess any systems or processes that may need to be changed to establish congruence in our operations. As an overview, we have completed Steps One and Two of Nadler’s Change Management Model. In the Step One Diagnosis Stage we reviewed the Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis that was included in the KFF Strategic Plan. One of the strength areas for KFF is that it does not currently have competitors in the gourmet food grocer business. Nevertheless...
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...The Role of Accounting on Business and Our Society Adrian Smith Accounting 100 Prof. Eric Osei A Financial statement is a record of financial activities of a business entity. Main objective of financial statements is to provide information about financial position, performance and changes in financial position, and flows of cash in the business organization which in turn is essential in making decisions. In order for financial statements to provide the necessary information, they have to abide by the principles of understandability, relevance, reliability and comparability (Alexander et al, 2005). The first financial statement under consideration is statement of financial position. It is used to report on assets, liabilities, and capital of an entity. Assets are resources which have economic value attached to them, for example cash, debtors and inventory. Liabilities on the other side include creditors, deferred tax and accruals. Finally, capital is the owner’s equity. Statement of financial position is used to ensure that assets balance with combination of liabilities and capital. Second is the statement of comprehensive income. It provides information on revenues, expenses and profits incurred in a particular period of time. Its major purpose is to help in determining whether the business entity is operating at a profit or loss in a particular trading period. It also serves to reveal the rate of earning per share that is the amount of to be given to each stakeholder. Statement...
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...Report Of The Tangerine Beach Hotel Reservation System Table of Contents 1. General Details about the Organization. 2. Business Processes of the Organization. 3. Existing Information Systems. (Both Computer Based & Manual) 4. Computer Based Information Systems that could be introduced. 5. Recommendations and Discussion. 1.GENERAL DETAILS ABOUT THE ORGANIZATION Tangerine Beach Hotel is a 03 star hotel in Sri Lanka which is an associate company of Mercantile Investments Limited, which has diversified into tourism with other 03 resort hotels. 1. Royal Palms Beach Hotel in Kaluthara. 2. Grand Hotel in NuwaraEliya. 3. Nilaveli Beach Hotel in Trincomalee. With the collaborative enhance support from the Tangerine Tours; Tangerine Group of Hotels has built up a clientele from all over the world. Tangerine Beach Hotel is located in Kalutara area. It belongs to the Tangerine Group of companies. The hotel consists of many facilities to full fill their guest’s requirements to the maximum level. It include 166 bedrooms comprising of 6 spacious overlooking the Magnificent ocean, Cable television & Local Channels, Mini Fridges, Telephone and IDD facilities, Hot & Cold water, WIFI ( available in Lobby and selected other public areas), and also they are providing customers with finest meals in the country with the guidance of experienced chefs. Nowadays hotel industry has lots of opportunities and the industry is in its highest peak now. Hotel Tangerine...
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...rotation of products. This will also review and bring together the accounts payable and receivable systems as well as payroll to the inventory system. The suggested system will bring together the inventory into the accounts payable and receivable processes currently in use. We will also explain the need to recreate Kudler’s inventory database because at this current time the system does not inform the company the quantity and the cost for each item that they have in their inventory. Decision and Rationale Kudler Fine Foods needs to update their current out of date accounting system. The current accounting system has four modules, including General Ledger Module, Accounts Payable Module, Accounts Receivable Module, POS Module, and Bank Reconciliation Module. Kudler currently uses an ERP known as Retail Enterprise Management System (REMS). The ideal situation would be to use this current system to its fullest capacity by purchasing additional software for necessary advancements. The REMS system has several modules currently not fully used by Kudler. Each module should interact with each other making the system a solid fit by reducing errors, increasing efficiency, and streamlining duties. After considering the options, the decision was made that the recommended course of action for Kudler Fine Foods is to purchase retail industry-specific accounting software. Upgrading the accounting software will provide better integration of the entire current modules as well as an inventory...
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...System Integrity and Validation ACC/542 Accounting Information Systems August 11, 2014 Irene Branum Preface Kudler Fine Foods began operations in 1998, by Kathy Kudler; the company has grown from one store to three and aspirations to add more locations in the near future. Our company was hired to analyze Kudler’s future accounting technology needs. We recommended a system to automate the accounting functions of accounts payable, accounts receivable, inventory, and payroll. We concluded that upgrading its accounting information system with retail-specific software instead of custom written software would be best for Kudler Foods. We have assessed the design basics of the data tables from an accounting perspective; recommend improvement to the data tables, and clarified how the information in the pivot table advanced decision-making for management The pivot table made from the information extracted from Kudlers inventory report for year-end will improve the decision-making process of inventory to be purchased by store location and by product type. We have analyzed the risk associated with the Accounting Information System in the areas of accounts payable, accounts receivable, inventory, and payroll, identified all risks and internal control points, incorporated the controls and risks into flowcharts, designed internal controls to mitigate risks to the systems, evaluated the application of internal controls to the systems, and discussed other controls...
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...To: Mr. Warren From: Warren Sports Supply Date: February 20, 2013 Subject: Suggestion in for Accounting System Warren Sports Supply Through all the researches, converting our system to a powerful and efficiency system, which is Peachtree, will benefit our company in many ways. Comparing the advantages and disadvantages of the Peachtree and the manual system, it is easy to see that Peachtree System allow us to improve or accuracy and efficiency. Furthermore, Peachtree has more internal control to minimize risky or human error. More importantly, Peachtree is easy to use. The current manual system requires employee to do every process by hand. One of the advantages is that the bank statement, income statement, and balance sheet will never balance if there is a minor error. Therefore, it is easy to notice that there is error. However, many process in our current account system are inefficient and risky. Firstly, although it is easy to notice errors, it will possibly take an employee hours or even days to find out that single error. Thus, there is a waste in human recourse. Secondly, since all documents are in hand copy, it is easy to lose and damage when writing and filling documents. Thirdly, if a vendor sale invoice is lost, we will very likely forget to do the payment. Thus, we will have to pay late charges. Lastly, it is easy to record wrong number or calculate wrong price for inventories. It is also possible to send billings, payments, and inventories to a wrong...
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...impact of ICT on accounting practice in Nigeria CHAPTER ONE Introduction 1.1 Background of the study In the recent past centuries, before the inception of Information and Communications Technology (ICT), the accountants of an organization were using a socially acceptable behavioural method of reporting accounting and economic reports, carried out during accounting year ends, the preparation of accounting records, book such as the profit and loss account, the balance sheet, cash book, cash flow statement, income and expenditure accounts. The application of Information and Communication Technology (ICT), on accounting practice in Nigeria has become a subject of fundamental importance and concerns to all business enterprise and indeed a prerequisite for local and international competitiveness. It is obvious that the way accountants plan and take decision on what and how to provide their service in the accounting profession has been affected immensely by Information and Communication Technology (ICT). This has continued to change the manner in which accounting practice and their corporate relationships are organized worldwide and the variety of innovative device available to improve and facilitate the speed and quality service delivery. It is obvious that the biggest impact of Information and Communication Technology (ICT) has been made on accounting; and it is the ability of companies to develop and use computerized system to track and...
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...impact of ICT on accounting practice in Nigeria CHAPTER ONE Introduction 1.1 Background of the study In the recent past centuries, before the inception of Information and Communications Technology (ICT), the accountants of an organization were using a socially acceptable behavioural method of reporting accounting and economic reports, carried out during accounting year ends, the preparation of accounting records, book such as the profit and loss account, the balance sheet, cash book, cash flow statement, income and expenditure accounts. The application of Information and Communication Technology (ICT), on accounting practice in Nigeria has become a subject of fundamental importance and concerns to all business enterprise and indeed a prerequisite for local and international competitiveness. It is obvious that the way accountants plan and take decision on what and how to provide their service in the accounting profession has been affected immensely by Information and Communication Technology (ICT). This has continued to change the manner in which accounting practice and their corporate relationships are organized worldwide and the variety of innovative device available to improve and facilitate the speed and quality service delivery. It is obvious that the biggest impact of Information and Communication Technology (ICT) has been made on accounting; and it is the ability of companies to develop and use computerized system to track and...
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