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Accounting Information Systems Sample Assignment

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Added on  2021-01-01

Accounting Information Systems Sample Assignment

   Added on 2021-01-01

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Accounting InformationSystems
Accounting Information Systems Sample Assignment_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3Existing accounting software uses apple.....................................................................................4Role of SAP- FICO accountant...................................................................................................6Recommendation for improvement the SAP .............................................................................9SUMMARY .............................................................................................................................12REFERENCE ................................................................................................................................13
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INTRODUCTIONAccounting information system can be described as the accumulation and processing offinancial and accounting data for reporting the information to internal and external stakeholdersof a company. The present report will highlight the accounting information system of Apple, amultinational gadget manufacturing company. Apple Inc. is an American transnational organisation which is headquartered inCupertino, California. It was founded in 1st April 1976 by Steve Jobs, Steve Wozniak andRonald Wayne. It is a public traded company and is listed on NASDAQ, NASDAQ 100Component, DIJA component, S&P 100 & 500. The corporation designs, manufactures and sellsthe electronic gadgets, computer software and also offers variety of online services. Theorganisation has an enormous human capital and has around 132000 employees. Apple offers wide range of products such as iPhone, iPad, Macintosh, Mac book, AppleWatch, iOS, Garage Band, iWork, Home-pod, Final Cut Pro, Apple TV. It also provides varietyof services like iTunes store, Apple Pay, I-Cloud, Apple Music, I-Books Store, Mac Stores,Apple Store, App store etc. The products and services are offered through its 500 retail storesworldwide. The giant organisation has different subsidiaries that are; Shazam, Apple Energy,Apple Sales International, Apple Worldwide Video, Apple Services, Beddit, Beats Electronics,Anobit, Texture, File Maker Inc. and Braeburn Capital. Apple is parent company of FileMaker Inc, Braeburn Capital, Apple Sales International,Anobit, Texture, Apple Services, Shazam, Beddit, Apple Worldwide Video, Apple Energy, LLCand Beats Electronics.Apple is one the strongest multinational IT gadgets manufacturing organisation in the world. Itsfinancial position can be assume by as it has, $62.9 billion revenue as on November 1, 2018.Apple's operating income is US$70.898 billion and its net income is US$59.531 billion in 2018.Company owned total assets worth US$365.725 billion and total equity US$107.147 billion.Apple currently faces cut- throat competition from Samsung, Sony Corp, Lenovo, one plus etc. Existing accounting software uses appleApple shares strong partnership with SAP ERP software in all the functional unit ofcompany. SAP FICO contain component i.e. FI and CO. FI deals with accounting, where CO
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states control. SAP facilitate enterprise resource planning for financial management, customerrelationship, marketing management, human resource, supply chain and product cyclemanagement. SAP accounting module render application of budget management, journal entry,financial reporting and project cost accounting etc (Burns, 2018). information and reports usesby internal stakeholders like employees, creditors, auditors, managers, higher authority etc.external people like government, tax authority ,supplier, bank, and investors also get the requiredand timely reports made software. SAP FICO even allow customer to place their order throughit, which increases the efficiency of completion the orders. This automated process, can lowerthe chances of human errors and Detain. Illustration 1: SAP FICO module( Sources: sap fico is it right for me, 2017)This module is the part of integrated ERP ECO system, which enable manager to crosscheck the information. For instance accounting manager can access the information of
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