Accounting Software System: Case Study of B Bakery
Added on 2020-02-23
23 Pages5315 Words76 Views
Running head: ACCOUNTING INFORMATION SYSTEMAccounting Information SystemStudent Name:University Name:Author Note:
ACCOUNTING INFORMATION SYSTEM2Executive SummaryIn the current report, importance of accounting software system has been demonstrated alongwith conducting analysis of the given case study. B Bakery is a small-scale growing enterprisethat is involved in preparing, selling and distributing bakery products. Organization relies onmanual processing for recording their daily transactions and employees payroll. Various softwarethat would assist organization in smooth running of their business operations are depicted in thereport. Later part of report deals with justification of the recommended accounting software thatshould be employed by organization.
ACCOUNTING INFORMATION SYSTEM3Table of ContentsIntroduction:....................................................................................................................................3Answer to Question 1:.....................................................................................................................3Business Process of Baker...............................................................................................................3B bakery Business Process..............................................................................................................3Answer to question 2:- Developing baker’s business requirement.................................................5Part B: Indispensable business processes of Baker.........................................................................5Part C: Achieving business outcomes for achieving business objectives........................................6Answer to 3:-Determination of system requirements......................................................................8Answer to question 4:....................................................................................................................10a)Selecting proper accounting software....................................................................................10b- Accounting Software selection suiting B Bakery business process..........................................11Answer to Question 5: Vendor Selection.....................................................................................13Contrasting and comparing functionalities of accounting software packages:.............................13Conclusion.....................................................................................................................................17References......................................................................................................................................19
ACCOUNTING INFORMATION SYSTEM4Introduction:The financial activities of organizations are tracked in a systematic manner using systemof accounting information. It has been recognized that environment at in which modern businessoperates is complex and faces tough competitions. In light of complexities and competitiveenvironment, it is required by modern organizations to employ and adopt various types ofadvance technologies that would help them in remaining competitive and sustaining theirbusiness. In present accounting report, the need of effective accounting system for firm B bakeryhas been analyzed and identified. As per case study, it was ascertained that products of BakeryLtd were not produced at competitive prices. The firm followed a manual form of accountingsystem and Bakery firm did not yet adopt automated accounting software (Aidoo-Buameh,2015). Furthermore, report will demonstrate different forms of accounting software andencompass suggestions to firm for adoption of technology suiting the produce capacity of firm. Answer to Question 1: Business Process of BakerPart AB Bakery is a firm that is engaged in different forms of breads and cakes using heatedutensil known as baker. Products sold by bakery is flour based and they might sell or serve goodsto consumers who wish to consume.
ACCOUNTING INFORMATION SYSTEM5B bakery Business Process Wide ranges of activities are carried out by business of B Bakery and this comprised offollowings acts listed below: Distribution of products-Distributing products is another business activity of B bakery and they are engaged in thisactivity for over fifty years. Supplying of confectionary products and breads are main businessactivities and products are distributed to supermarkets, pub chains and different types ofbusiness. Bakery products production-Various forms of bakery products are produced by firm include confectionary productsand bread. It is engaged in manufacturing the bakery products or items. One of the factor that actis unique selling proposition of B bakery is that while manufacturing products, firm placesimportance on health related factors (Jones, 2014). Manual business process-The business process of B bakery is carried out manually and this is regarded as one ofmajor shortcomings in their operation. Financial statements of each year is produced byaccountants and records transactions. However, this has created inefficiency in carrying outbusiness operations. Manual process of recording transactions and activities of accounting ratherthan employment of technical accounting software has forced them to switch to some latesttechnology (Boulianne, 2014). B Bakery has failed to adopt any appropriate ERP system orprocess that would assist them in running their business efficiently.
ACCOUNTING INFORMATION SYSTEM6Lack of efficacy in human resource managementAround seventy employees are employed by B bakery and recording of their monthlysalaries are done manually. Employees of firm has been affected to large extent due to lack ofproper accounting system or it can be said that due to inexistence of accounting departmentemploying accounting software. Answer to question 2:- Developing baker’s business requirementPart B: Indispensable business processes of BakerSales revenue of B bakery is continuously increasing and hence it can be said that bakeryhas a good turnover. In this regard, organization is successful. Nonetheless, in near future due tolack of any proper accounting system, business process of organization would suffer. Therefore,in order to efficiently run business and to smoothly continue business in long-term, suggestionsto business process are made. Appropriately analyzing the costs related with different outflow and inflow activities:It is required by organization to make classification of different types of activities inproduction and manufacturing process, this is so because B bakery is a growing organization thatrequired classification of different costs. For organization to sustain in near future in light ofcompetitive environment, operating costs should be minimized. Employment of automatedaccounting software would assist organization in reducing cost of production and operatingcosts. Employing automated accounting software lading to proper pay roll structure
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