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Accounting Information System : Assignment Solution

   

Added on  2019-11-12

15 Pages3978 Words145 Views
ACCOUNTING INFORMATION SYSTEM

Accounting Information System 2Executive SummaryManual accounting takes time. There are more chances of errors being committed ascalculations have to be made manually. With the help of computerized accounting, largeamount of accounting entries can be made with speed and accuracy. An analysis has beendone and report has been made regarding how a bakery business is considering moving frommanual to computerized accounting. For the business, accounting software like Myob andZero have been considered and it has been suggested that the business adopt Xero. Thisaccounting software can make profit and loss statement and balance sheet. Bankreconciliation statement can be made with the help of the software. Budgeting and forecastingcan also be done along with order tracking and expense claims. Due to these multiple featuresthe software Xero has been recommended in the report.

Accounting Information System 3Table of ContentsIntroduction................................................................................................................................41 a) Business activities of a bakery............................................................................................42 b) Processes which are indispensable for bakery....................................................................52c) Outcomes required from processes.....................................................................................63a) Software features that should be considered........................................................................74a) Visit the websites accounting software package vendors....................................................94b) Category of software suitable for bakery.............................................................................95 a) Comparison of features of Myob and Xero.........................................................................95c) Most suitable software package for bakery........................................................................10Conclusion................................................................................................................................12References................................................................................................................................13Table of Figures:Figure 1 : Processes essential for a bakery.................................................................................6Figure 2 : Accounting process....................................................................................................8Figure 3 : Features of Xero......................................................................................................11

Accounting Information System 4IntroductionB. Bakery is engaged in selling bread and confectionary items. The business has so far reliedon manual accounting. It is considering buying an accounting software. The following reportdiscusses what are the accounting software choices available to the business. It is advised thatthe business adopts accounting software Xero. This would also result in better inventorycontrol and costs would be brought down.

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