...Sam Herrick November 15, 2009 Case Study 3 Too Far Ahead of the IT Curve: Peachtree Healthcare Peachtree Healthcare CEO Max Berndt has been faced with a dilemma within his company. There has been a major IT infrastructure problem within his company for some time now. Since technology has taken over in the healthcare field, it is imperative that Peachtree Healthcare get the ball rolling and get the technology needed so they can be trusted and well known within the healthcare industry. After many conversations and research, Max and his board of trustees have narrowed a new IT infrastructure down to two solutions. Max can take a relatively facilitated action in a “playing it safe” type of system, or he can take a more risky type of system that has potential to have an outstanding outcome. The first system brought forth is single set of systems and applications that will provide a consistent flow across Peachtree's facilities, however, on the downside it may not give doctors enough flexibility working with each other. The other system is called a service oriented architecture or an “SOA.” It is a newer kind of system that will allow Peachtree to standardize incrementally, which Max has wanted the most out of an IT Infrastructure, However there are serious consequences and risks involved with a newer technology. There are many positives and negatives to each. Looking at the positives and negatives would give you a better sense of what system would work best for the company. For...
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...Lab Course Project Peachtree is accounting software that performs accounting functions for companies. The cost for Peachtree Pro is $209.99. This package is based on real, double entry accounting principles. Some of the features included in Peachtree Pro are inventory management, business analytics, payroll, and customizable reports. With Peachtree Pro you are able to invoice customers, pay bills, and track receipts. You are also able to run reports and export them to Excel. You can set email alerts as well as customize reports to fit your needs. You can analyze and forecast expected payments and receipts as well as confirm that there is enough cash to meet current obligations. Peachtree also offers the ability to manage employees. Peachtree can process payroll as well as prepare and file tax forms and process paychecks. With Peachtree you have the ability to control cash flow and costs. You can manage your business needs with tools such as Cash Flow Manager which analyzes and forecasts expected payments and receipts. The minimum system requirements for Peachtree are 1 GHz Intel Pentium III (or equivalent) for single user and multiple users, 512 MB of RAM for single user and multiple users, Windows® XP SP3, Windows Vista® SP1 or Windows® 7 Home Professional or higher. As well as 1 GB of disk space for installation, Internet Explorer 7.0 required; Internet Explorer 8.0 and 9.0 supported, and Microsoft®.NET Framework CLR 3.5. Peachtree also requires an additional...
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...Peachtree is accounting software that performs accounting functions for companies. The cost for Peachtree Pro is $209.99. This package is based on real, double entry accounting principles. Some of the features included in Peachtree Pro are inventory management, business analytics, payroll, and customizable reports. With Peachtree Pro you are able to invoice customers, pay bills, and track receipts. You are also able to run reports and export them to Excel. You can set email alerts as well as customize reports to fit your needs. You can analyze and forecast expected payments and receipts as well as confirm that there is enough cash to meet current obligations. Peachtree also offers the ability to manage employees. Peachtree can process payroll as well as prepare and file tax forms and process paychecks. With Peachtree you have the ability to control cash flow and costs. You can manage your business needs with tools such as Cash Flow Manager which analyzes and forecasts expected payments and receipts. The minimum system requirements for Peachtree are 1 GHz Intel Pentium III (or equivalent) for single user and multiple users, 512 MB of RAM for single user and multiple users, Windows® XP SP3, Windows Vista® SP1 or Windows® 7 Home Professional or higher. As well as 1 GB of disk space for installation, Internet Explorer 7.0 required; Internet Explorer 8.0 and 9.0 supported, and Microsoft®.NET Framework CLR 3.5. Peachtree also requires an additional 280 MB to 610 MB as...
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...Executive Summary Peachtree Healthcare(PH) has a mission to ensure quality and consistency of care across all of its hospitals at the highest efficiency. As PH’s growth occurred through acquisitions its IT infrastructure is composed of fractured legacy systems that do not speak to one another and break down. It is therefore necessary to upgrade PH’s IT infrastructure in order to better serve its clients and aid its physicians and other staff in doing their work. The company has the option of installed either a monolithic and standardized system or an SOA system. After evaluating the pros and cons of each type of system it is recommended that PH use an SOA system as it is lower cost, flexible and will be easier to obtain employee buy in for. Current Situation At the current moment PH’s IT is not reliable. This occurred as a result of PH’s growth through acquisition which caused them to inherit multiple legacy systems which are incompatible with one another. As a result of this the majority of the energy and budget in the IS department goes towards keeping the IS infrastructure “treading water”. Not long ago Wallis Memorial Hospital had a large scale IT failure which interrupted a lot of work at the hospital as the staff there rely on IT as a primary tool for their work. This current IT infrastructure does not serve Peachtree’s goal of having a degree of standardization across all of their hospitals. It also does not support to physicians to be able to do their best...
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...The purpose of converting the SUA system to Peachtree is to see the differences between the systems and to choose the better system for the company. We can convert the SUA system to a computerized accounting system, and we strongly recommend adapting Peachtree as our accounting system. In the following pages, we show flowcharts and tables for revenue and expenditure cycles to compare both manual and Peachtree systems. Advantages: - Peachtree is an easier process compared to a manual process. Almost all professional accountants know how to use Peachtree. It is a system that takes a difficult and complex process and redesigns it into an easy process. - Less time and labor is consumed. In the purchase order, Peachtree could automatically create a Purchase Order or Sales Invoice and fill in the prices on it, whereas we’d have to manually duplicate a PO or Sales Invoice and then calculate the prices. - It is more accurate than the manual process. The Peachtree software always ensures that all the entries go to the correct general ledger or subsidiary ledger. In the cash receipt process, the SUA system requires all entries to be written, and journals to be filed. Peachtree provides an automated system that’s easier to record and follow. In the SUA system, on the other hand, it is easier to record incorrect data. - Less paper work and less chance of losing data. Peachtree helps prevent lost data. Most of the files are stored in the computer. ...
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...Sage Peachtree Accounting Complete and Microsoft Dynamics GP Software Evaluation Sage Peachtree Accounting Complete and Microsoft Dynamics GP are among the most widely used accounting software. An analysis of these two accounting software packages follows. Sage Peachtree Accounting Complete Peachtree is an accounting software program available to small and large businesses to include specialties for certain industries; is it ranked amongst the top accounting software program in the market. “This is due to the fact that it provides customers with an entirely comprehensive accounting software program that allows business leaders in virtually every sector to track crucial accounting information and thereby record higher profits and experience increased levels of efficiency” (The Accounting, 2013). The reputation Peachtree has built has made it the most trustworthy name in accounting software. The purchase price for Peachtree ranges from varying on the size of the business and its specialty in the industry. For example, Peachtree complete accounting 2012 software for a small business costs $299.99. However, Peachtree Premium Accounting for Distribution 2010 will cost a company $1199.99. This does not include any extras added in; this is just the base price for if a company purchased the software online and no installation costs have been added as well. All Peachtree products can be viewed on websites to include amazon.com, bizrate.com and simply by searching...
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...offer provides us with just that flexibility, and is very cost efficient. (Sage, 2010) As noted in your report, the visit your team took to Sage was a “very encouraging one”. I have great faith and belief that your team did experience just that. According to Sage’s company information, they have been in business for over 30 years, and have great customer satisfaction. (Sage, 2010) I have also read customer reviews, and find that to be true as well. (Sage, 2010) I think that the Peachtree Complete Accounting Software would best suite our business needs at the present time. I like the fact that Peachtree complete offers the flexibility of more than one user, and that it is compatible with our FIFO inventory methods. (Peachtree, 2010) The system is also compatible with QuickBooks, which is a big plus, since we currently use some QuickBooks applications. (Peachtree, 2010) I also would like to mention that I found that the Peachtree applications offer quick and easy downloads for updates. (Peachtree, 2010) That makes it easier for our company to not waste any time waiting for updates to come through the mail etc. The fact that Sage offers training on the new software we purchase from them is another very important factor that I am so glad that you checked into before presenting the information to me. (Sage, 2010) It is...
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...oo Far Ahead of the IT Curve: Peachtree Healthcare Peachtree Healthcare CEO Max Berndt has been faced with a dilemma within his company. There has been a major IT infrastructure problem within his company for some time now. Since technology has taken over in the healthcare field, it is imperative that Peachtree Healthcare get the ball rolling and get the technology needed so they can be trusted and well known within the healthcare industry. After many conversations and research, Max and his board of trustees have narrowed a new IT infrastructure down to two solutions. Max can take a relatively facilitated action in a “playing it safe” type of system, or he can take a more risky type of system that has potential to have an outstanding outcome. The first system brought forth is single set of systems and applications that will provide a consistent flow across Peachtree's facilities, however, on the downside it may not give doctors enough flexibility working with each other. The other system is called a service oriented architecture or an “SOA.” It is a newer kind of system that will allow Peachtree to standardize incrementally, which Max has wanted the most out of an IT Infrastructure, However there are serious consequences and risks involved with a newer technology. There are many positives and negatives to each. Looking at the positives and negatives would give you a better sense of what system would work best for the company. For example with the single set of applications: ...
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...Instructor Information Instructor: Dr. David S. Kerr E-mail: dskerr@uncc.edu Office: Friday bldg., room 253E Office Hours: Office hours on Main Campus: Tuesday & Thursday 12:30–1:50pm. Office hours in Center City bldg: Tuesday 4:30 – 5:20pm (room 713). Class Hours: Section U90: Tuesday, 5:30pm–8:15pm, Center City bldg., room 602. Required Materials Accounting Information Systems, James A. Hall, Cengage Learning, 8 th Edition, ISBN-13: 978-1-11197-214-1. Systems Understanding Aid, Arens & Ward, Armond Dalton Publishers, 8 th Edition, ISBN-13: 978-0-912503-38-7. Computerized Accounting Using Sage Peachtree Complete Accounting 2012, Arens & Ward, Armond Dalton Publishers, 3 rd edition, ISBN-13: 978-0-912503-40-0. Personal computer (and printer) on which you can install Peachtree Accounting; see page 1- 3 of the Peachtree Instructions & Assignments book for minimum hardware and software requirements. Prerequisites Must be in good standing in MACC program and have completed Intermediate Accounting. Statement on Students with Disabilities The Americans with Disabilities Act is a federal anti-discrimination statute that provides civil rights protection for persons with disabilities. This legislation requires that all students with disabilities be guaranteed a learning environment that provides for reasonable accommodation of their disabilities. If you believe you have a disability requiring an accommodation, please see me within...
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...plethora of entry-level accounting software available on the market Intuit’s QuickBooks Pro and Sage’s Peachtree Pro are still two of the most popular accounting software specially designed for the needs of small businesses. Both provide excellent solutions to many of the accounting challenges faced by small businesses that use double entry accounting. QuickBooks Pro and Peachtree Pro are promoted as software designed for users with little or no accounting knowledge. Although very similar, there are key elements that differentiate one from the other. For the small business owner ease-of-use, efficiency, security, systems compatibility and operability, vendor support, options to expand and upgrade, and cost feasibility are essential criteria that need to be met. Software Comparison QuickBooks Pro is easy to use and offers the user help in setting up the company, selecting a chart of accounts, and recording transactions in the proper place. Functions are grouped to help direct the user to what is available in a particular category. The menus are simple to understand and offer the user representational icons for what they want to do. For example, a check looks like a check and so on. The homepage offers the user easy navigation through shortcuts allowing information to be pulled in different ways. Like QuickBooks Pro, Peachtree Pro has a user-friendly interface. Peachtree Pro, on the other hand, is slightly more complicated to use and may require some knowledge of accounting...
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...Executive Summary Peachtree Securities, Inc. is a 20-year-old regional brokerage house located in Atlanta, GA. Jack Taylor, the firm’s founder and president, has found prosperity by providing quality personal brokerage services to small investors. A recent trend of the firm’s customers is a shift from individual stocks and bonds to mutual funds. Although the number of customers is increasing, the transactions per customer is decreasing, causing sales figures to lag. With the belief that this trend will continue, Taylor has expanded the services his firm offers to include trust and portfolio management. The main customers of trusts for the firm are retirees. They are interested in bonds and high-yield stocks that produce high current income instead of capital gains. The stocks of choice for the firm are in electric utilities. With the cost of research increasing, Taylor decided to hire a security analyst. He hired Laura Donahue in January 1993. Her first task was to conduct a seminar for a group of Peachtree customers on stock investments; she was to include how various securities effect portfolio management. Donahue began by asking herself a few questions that she thought would help the customers understand the stock valuation process and their effects on portfolios1. Case 3: Peachtree Securities, Inc. (A) The Atlanta regional brokerage firm, Peachtree Securities, Inc., has expanded its services to include trusts and portfolio management. To meet the needs of providing...
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...Anderson, Olds, & Watershed Certified Public Accountants 615 Big City National Bank Building Main at Michigan Avenue Chicago, Illinois 60612 Phone: (312) 555-4452 Fax: (312) 555- 9991 www.aowcpa.com December 18, 2009 Peach Blossom Cologne Company 1308 Bee Hive Blvd Chicago, Illinois 60615 Dear Mr. Kevin Chen, You have requested that we audit the financial statements of Peach Blossom Cologne Company for 2009, which consist of the balance sheet, income statement, statement change in equity, and cash flow statement for the year. Also, the summary of significant accounting policies and other explanation notes. We are pleased to confirm our acceptance and our understanding by means of this engagement letter. We are responsible for the objectivity and fairness of the financial statements which we will audit. Detailed Audit Services List An overview of the planned scope and timing of the audit Operating tests of controls Gathering audit evidence and expressing an audit opinion Providing reviewing financial statements to ensure completeness and accuracy Stating a written communication of internal control to Peach Blossom Cologne Company Presenting the overall report to Peach Blossom Cologne Company Audit Responsibilities and Limitations We conduct our audit in accordance with CAS (Canadian Auditing Standards). These standards require us to abide by the ethical requirements and plan and execute the audit to obtain reasonable assurance whether the financial statements are...
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...Case 3 Question 1 The T-bond return does not depend on the state of the economy because the interest payments will be made and the bond will be redeemed by the federal government, barring global disaster. The T-bond, since its return is independent of the state of the economy, is risk-free, but only in the nominal sense. An investor is “guaranteed” an 8.0 percent nominal return. However, the real realized return will depend on inflation over the next year. Thus, the real return, which counts most, is uncertain. Also, if interest rates rise, the bond’s price will decline (slightly, for a l-year bond, and if you must sell it to raise cash, you would suffer a slight loss (a large loss on a long-term bond). Question 2 Expected kTECO = 0.1 (-8.0%) + 0.2(.0$) + 0.4(14.0%) + 0.(25.0%) + 0.1(33.0%) = 13.5%. Expected kT-bond = 8.0%. Expected kGH = 8.8%. Expected kT-S$P 500 = 15.0%. Looking solely at expected rates of return, the S$P 500 looks best with a return of 15.0% while the T-bonds, at 8.0 percent, look the worst. Question 3 VarianceTECO = [pic]P1 (ki - k)2 = 0.1(-8 - 13.5) 2 + 0.2(2 - 13.5) 2 + 0.4(14 - 13.5) 2 + 0.2(25 - 13.5) 2 + 0.1(33 - 13.5) 2 = 137.3. [pic] = [pic]=[pic] = 11.7% CV = [pic]/Expected value = 11.7%/13.5% = 0.87. [pic]T-BOND = 0.0%. CV T-BOND = 0.00. [pic]GH = 9.1% CV GH = 1.03. [pic]S&P 50 = 16.4%. CV S&P 50 = 1.10. Standard deviation and coefficient...
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...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 address because there is no control on it. One of the reasons why we should convert our system into Peachtree is that it process data and transactions more efficient than...
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...business. Sage Peachtree Pro is a helpful tool for small-businesses. Peachtree works very well with Microsoft Office programs and has many tools that can help a business struggling with accountability and organization. Sage Peachtree Pro 2011 is a software program for small businesses to give tools needed for management, finance, and accounting. Sage Peachtree links directly with Microsoft Word and Excel to create financial reports and print out flyers for marketing. Peachtree has a detailed job revenue system that shows a business’s spending, estimated profits of a certain job, and how long a job is scheduled to last. Creating individual departments inside Peachtree will allow the user to create detailed budgets that will assist in schedule and planning of a job. A manager can create individual reports for each job center that helps assists in program control and oversight. The program screen has a business status page that has charts and graphs showing key company data such as account balances, customers who have debts outstanding, and vendors who have not been paid (Murray, 2009). Paying bills online is an easy task with Sage Peachtree. Setting up payments is easy and with Peachtree the user can create the date for a payment in the future, this can be very important tool for many businesses. Each transaction has various details associated with it including sales tax, billing status, type, and rate that may be important in future audits. Peachtree has a very competitive...
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