...Systems and Software Applications BIS/219 July 4, 2011 Information Systems and Software Applications To encompass a thriving business, businesses must incorporate and use the various resources of technological progressions. Invasive software applications and fully structured information systems support businesses to administer every area of their business relationships. The accounting, human resources (HR) and marketing departments use various software applications and information systems to achieve the goals of a business in order for them to become successful and remain competitive. This paper will focus on these departments and provide an overview of software applications and information systems. The website for Sage North America (2011) states Sage provides organizations with a wide range of business management applications and services to over 3.2 million customers in the United States and Canada. Many nonprofit organizations use Sage Fund Accounting financial management software within their accounting department. The accounting department is essential because it deals with the procurement and spending of funds within any organization. “Accounting Information Systems (AIS) are a tool which, when incorporated into the field of Information and Technology systems (IT), were designed to help in the management and control of topics related to firms’ economic-financial area” (Grande, Estébanez, & Colomina, 2011, p. 26). Sage Fund Accounting software program assists...
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...Axia College Material Yuma N. Vuono turtlelove15@email.phoenix.edu Assignment 1-2 Accounting Software Memo Resource: September 2003 article “A Strategy for Finding the Right Accounting Software” by Randolph P. Johnston located at the website for the Journal of Accountancy. Read the following memo: Your department’s accounting software is extremely outdated and you have included the purchase of new software in this year’s fiscal budget. You have decided it is time to start looking into purchasing your company’s accounting software and have chosen someone in your department to undertake the task. You want to draft a memo for your employee to help guide her in the purchasing process. Prepare a 350-word memo discussing the factors to consider when choosing accounting software. Analyze why each factor is important and the risks of not considering each factor. Post your memo as an attachment. Post your Certificate of Originality. Interoffice Memo: To: | Jane Assistant | From: | Yuma N. Vuono | CC: | John President | Date: | 1/29/2012 | Re: | Accounting Software | Comments: | Hello Jane,As you know, our accounting software is extremely outdated. I have included the purchase of new software in this year's fiscal budget and decided you would be the perfect person to research the various types of accounting software systems on the market and choose the most suitable system for our company. We both understand the importance of choosing a system that will...
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...AUO1 – Auditing and Information Systems Additional Study Questions Accounting Information Systems Competency 302.1.1: Nature and Purpose The student understands the nature and purpose of information systems. * What is the difference between transaction processing systems, management information systems, and decision support systems? Transaction processing systems - document financial activities Management information systems - used to collect qualitative as well as quantitative information for decision making within organizations Decision support systems - help the developers of an AIS identify what information they need for their planning, decision making, and control functions * How is a flowchart used? A document flowchart traces the physical flow of documents through an organization—that is, the flow of documents from the departments, groups, or individuals who first created them to their final destinations. * How is the accounting information system documented? An accounting information system is a collection of data and processing procedures that creates needed information for its users. An information system's components: Data or information is input, processed, and output as information for planning, decision-making, and control purposes. Nine reasons to document an AIS are (1) to explain how the system works, (2) to train others, (3) to help developers design new systems, (4) to control system development and maintenance costs, (5) to standardize...
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...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 and risk evaluation, and auditing procedures. The most recent visit was necessary...
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...Ashley Richardson 11/15/2013 Western Governors University AUO1 – Auditing and Information Systems Additional Study Questions/ Study Guide 1. Accounting Information Systems Competency 302.1.1: Nature and Purpose The student understands the nature and purpose of information systems. * What is the difference between transaction processing systems, management information systems, and decision support systems? 2. Transaction processing systems - document financial activities 3. Management information systems - used to collect qualitative as well as quantitative information for decision making within organizations 4. Decision support systems - help the developers of an AIS identify what information they need for their planning, decision making, and control functions * How is a flowchart used? 5. A document flowchart traces the physical flow of documents through an organization—that is, the flow of documents from the departments, groups, or individuals who first created them to their final destinations. * How is the accounting information system documented? 6. An accounting information system is a collection of data and processing procedures that creates needed information for its users. An information system's components: Data or information is input, processed, and output as information for planning, decision-making, and control purposes. 1. Data flow diagrams provide both a physical and a logical view of a system...
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...The operation of an accounting system has three basic phases: input, processing and output. The inputs are the journals which is the chronological record of transactions which are recorded as they occur on numerous source documents such as sales invoices, purchase invoices etc. Periodically, these journals are posted to general ledger, which constitute the processing phase of the system. Financial statements are prepared from the data in general leger. This is the output. Thus an accounting system is essential to transform data into useful accounting information which can be used by management for decision making and also for evaluation by parties outside the entity. Therefore, development of a dependable accounting system is vital for any business. As a business grows, the review of the accounting system may show that it needs to be revised or even replaced to accommodate a larger volume of transactions. Such a scenario has happened to Justin’s Gourmet Foods Pty Ltd. The company currently uses a manual accounting system. The manual accounting system implies that employees perform the whole accounting cycle manually on a periodic basis: they calculate trial balances, journalize transactions, and prepare financial statement reports and other routines. This system is manageable when a business is small and has a limited number of transactions. But when there is a large volume of transactions, the repetitive nature of the task makes manual accounting chaotic, very time consuming...
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...Katrina Smith, Jason Wilhelm ACC 542 Brad Thompson March 4, 2013 Kudler Fine Foods AIS Introduction In this paper we will explain our recommendation of a solution design for the industry specific software. We will go into detail on how to improve the tracking of the inventory to help reduce spoilage and better 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...
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...recently promoted me to a midlevel manager in the accounting department. Kathy Kudler, the founder, has decided to restructure the accounting department and will require hiring additional personnel that entails training for new and current employees. Kathy is considering a better method for appraising the team’s performance. This proposal will include the job descriptions and qualifications for five new positions, a new training program that enhances the skills and qualifications of new and current employees, methods for evaluating employee and team performance (including a progressive discipline process), challenges of the team performance, incentives and benefit packages, strategies for managing employees’ career development, and a fair and appropriate compensation plan. Job Descriptions and Qualifications Kudler Fine Foods will be restructuring the accounting department. The accounting clerk positions will be eliminated altogether. The accounting department will be divided into five new positions including a first level management position. The accounting department will consist of an accounting manager, two accounts payable specialist, an accounts receivables/cash applications specialist, and a staff accountant. The job description and qualifications of each position is as follows: Accounting Manager Job Description: Responsible for all areas relating to financial reporting. Responsible for developing and maintaining accounting principles, practices and procedures to ensure...
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...Control and Risk Evaluation Internal controls are essential for a company to maintain the security of its property as well as the integrity of sensitive and confidential information. Should Kudler decide to implement and utilize industry-specific software, it would need to evaluate the internal controls and risks associated with these four systems: payroll, accounts payable, accounts receivable, and inventory. Currently, Kudler does not have effective controls in place to minimize security risks and protect its data. The following brief will evaluate the application of internal controls to new accounting system by first analyzing Kudler’s current internal controls, and then recommending steps the company can take in order to strengthen those controls. Risks in the System In order to successfully manage risks, Kudler should first assess the following types of risks: business risks, audit risks, security risks, and continuity risks. Assessing business risks would require Kudler to evaluate its current goals, the actions needed in order to achieve them, and any foreseeable obstacles that would hinder progress. Analyzing audit risks would involve Kudler ensuring the accuracy of its financial statement. Identifying threats to the security of the company’s information system makes up the security risk assessment. Finally, Kudler outline its disaster recovery and business continuity plan to complete its continuity risk assessment. Upon completing the evaluations of these four...
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...They then renovated its information systems, resulting in a company wide database and applications that work with this database. Then the primarily use was in the accounting and financial areas. All applications were built in-house, and when necessary, new information systems staffs were hired to support Pine Valley Furniture’s expanding information systems. I believe the company chose this option because it was the most convenient and easiest way to operate, train staff and keep the business organized and running smoothly. However the primary use being in accounting and financial areas is good, however also implementing a sales and production area would be ideal as well, in order to track and keep record of what pieces sell the most, the increases in demand and so on. Also they may have wanted charts and graphs as records for years of sales, when the down season is, if there is one, and they could also have used a program to keep closer track on employees such as hours, dedication, evaluations and so on in order to better accommodate the hard workers. B) Enterprise wide systems are a great option. Organizations invest in the enterprise system software from vendors such as SAP, Oracle, PeopleSoft, and a few others in order to gain access to powerful, computer-based information. ERP systems refer to the software packages that integrate all the data and the related processes of an organization into a unified Information System (IS). An ERP system uses a central...
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...during the course. ****************************************************************************** Learning Objectives This course will utilize a “hands on” approach for the recording and reporting of economic transactions. This course will provide students with a thorough understanding of the accounting process and its application and introduce students to audit, tax and GAAP and IFRS standard setting processes. Prerequisites: ACCT 2231 and ACCT2232 (or concurrent enrollment in ACCT2332) Mission of the Department of Accountancy and Taxation Prepare accounting graduates for leadership roles in the accounting profession; Conduct research that advances the body of accounting knowledge, and inevitably has implications on accounting practice; Perform service that leads to the efficient and effective practice of accounting. Objectives of the Department of Accountancy and Taxation Prepare its undergraduate students for graduate education or productive careers by establishing the foundations for life-long learning; Prepare its master-level students for positions of leadership in the accounting profession; Prepare its doctoral students for successful careers in accounting education and research; Develop innovative and effective instructional methods that...
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... Riordan has six manufacturing locations in the United States, and one location in China. Riordan creates innovative plastic designs using state-of-the-art technologies that have earned them international acclaim. The various business entities of Riordan Manufacturing are using different Financial and Accounting applications and their incompatibility is causing many issues in the day to day operations of the company. In order to improve the productivity and efficiency of the business entities, Riordan management is considering outsourcing the Financial and Accounting Application for all the business entities. Outsourcing this application can provide specialized support, can increase the speed for a quick turnaround, and can reduce costs for maximized profits. This document provides the business context, implementation plan, performance measures and review of the costs and benefits of the proposed solution. Business Context Riordan Manufacturing has three operating entities, and a joint venture with their own Finance & Accounting Systems. These F&A systems are not compatible with each other, and they are from different vendors, and on different hardware and software platforms. Consolidated financial reports are generated monthly at the corporate office based on the input received from the business entities. Due to compatibility issues, Riordan is experiencing many operational difficulties when generating the consolidated financial reports. Business entities submit...
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...CONVENTIONAL ACCOUNTING SYSTEM AND INFORMATION TECHNOLOGY: EXPERIENCES IN MY PLACES OF WORK. BEING A SEMINAR PAPER PRESENTATION IN ACCOUNTING AND INFORMATION TECHNOLOGY FOR MASTERS IN ACCOUNTING (MAC) DEPARTMENT OF ACCOUNTING FACULTY OF ADMINISTRATION SCHOOL OF POSTGRADUATE STUDIES AHMADU BELLO UNIVERSITY, ZARIA, NIGERIA BY: KALU NNANNA NWONYUKU JUNE, 2013 CONTENTS 1.1.1 INTRODUCTION 1.2.1 THE MEANING OF ACCOUNTING AND ACCOUNTING PROCESS 1.2.2 THE ROLES AND FUNCTION OF ACCOUNTING INFORMATION 1.2.3 BASIC ELEMENTS OF AN ACCOUNTING INFORMATION 1.2.4 BASIC ACCOUNTING POSTULATES AND PRINCIPLES 1.3.1 MEANING OF INFORMATION TECHNOLOGY 1.3.2 ADVENT OF INFORMATION TECHNOLOGY IN ACCOUNTING SYSTEM 1.3.3. THE IMPORTANCE OF INFORMATION TECHNOLOGY TO ACCOUNTING SYSTEM 1.4.1 INFORMATION TECHNOLOGY USE FOR AN ACCOUNTING SYSTEM 1.4.2 SOFTWARE FOR ACCOUNTING INFORMATION SYSTEM 1.4.3 FACTORS TO CONSIDER WHEN CHOOSING ACCOUNTING SOFTWARE 1.4.4 HOW TO CHECK ACCOUNTING SOFTWARE 1.5.1 MERITS OF COMPUTERIZED ACCOUNTING SYSTEM 1.5.2 DEMERITS/LIMITATION...
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...Internal Control and Risk Evaluation – Kudler Fine Foods Lisa Cook University of Phoenix ACC/542 August 15, 2011 Internal Control and Risk Evaluation Internal controls and risk assessments are an integral part for a company to be successful. Management at Kudler Fine Foods has reviewed the flowcharts prepared and is requesting information on controls that will be required. Risks are none to be a negative event occurring in a company’s productivity. Internal controls are the policies and procedures put in place to reduce unforeseen occurrences associated with the risks. This brief will discuss the risks of Kudler Fine Food’s current Accounting Information System (AIS) evaluated by Team B and incorporate the controls into the flowcharts, design internal controls to mitigate risks to the systems, evaluate the application of internal controls to the systems, and discuss other controls, outside the system, that Kudler Fine Foods may need. Risks in the Systems According to Hunton, Bryant, & Bagranoff (2004), “business enterprises face a variety of risks, including business, audit, security, and continuity risks” (pg. 48). When analyzing Kudler Fine Foods current information system the team found that Kudler lacked internal controls and risk evaluations required to run their information system. Several concerns were brought up as major potential risks. The three risks focused on are those of business, security, and continuity. Several of Kudler’s risks within the...
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... |Accounting Information Systems I | 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...
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