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Accounting Information System |Assignment

   

Added on  2020-10-22

14 Pages4433 Words276 Views
Accounting InformationSystem

Table of ContentsEXECUTIVE SUMMARY.............................................................................................................3INTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Background of the company.......................................................................................................1Business requirements.................................................................................................................3System requirements...................................................................................................................4Software selection.......................................................................................................................6Vendor selection..........................................................................................................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11

EXECUTIVE SUMMARYThis project report is summarises as Accounting information system is a structure of abusiness organization which collect, store, manage, process and report all the financial data.AMP Bank Plc is selected in this project report in order to understand this topic. Variousanalyses of accounting software are done so that a suitable software can be ascertained for AMPbank. Various software such as low, medium and high end are analysed and evaluated in thisreport.

INTRODUCTIONAccounting information system is a structure of a business organization which collect,store, manage, process and report all the financial data Accounting information system is astructure of a business organization which collect, store, manage, process and report all thefinancial data so it can be used for various parties related with the company that are auditors,regulators and tax agencies. AIS mainly consists components such as people, instructions, data,software, information technology and internal controls. In this project report, a company isselected to better understand the concept of AIS and that is AMP Bank Plc. As a graduateconsultant in a management consultancy firm, various analysis is conducted about AMP in orderto recommend them an appropriate accounting software. In this project report, background anddescription of this company along with its business processes is discussed. This information iscollected in order to ascertain their system requirements and IT investment objective. Suitablesoftware selection is done by evaluating various software packages and a software vendors (Bai,Nunez and Kalagnanam, 2012). MAIN BODYBackground of the companyAMP is a financial services company operating in Australia and New Zealand providingsuperannuation and investment products, insurance, financial advice and banking productsincluding home loans and savings accounts. AMP shares are included in the Australian SecuritiesExchange's S&P/ASX 50 index. Its headquarters are in Sydney, Australia. AMP formed in 1849as the Australian Mutual Provident Society, a non-profit life insurance company and mutualsociety.It was demutualised into an Australian public company, and listed on the Australianlargest shareholder registers, with most shareholders living in Australia and New Zealand. Thisis because when the society demutualised, all policy holders received shares in new company. ItsUK operation was the subject of a demerger in 2003,separating out Henderson Group (Belfo,2013). Operations:The company provides financial planning and advice, banking, life insurance, managedfunds, superannuation, property, listed assets and infrastructure. It is Australia's largest life risk1

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