Importance of Accounting Information Systems for Abacus Property Group

Accounting Information Systems

Executive summary
An accounting information system is a process which is used to manage records, analyze,
retrieve, collect and store the financial data of any company. This is done to provide reliable,
relevant and comparable information to the users of the data. This data can be helpful for
investors, lenders, customers, financial institutions, government and banks. These kinds of
systems help the company to maintain accuracy in the data and make a financial report. These
systems help to integrate the working of different departments to convert financial data into
useful information. The information provided by the accounting information system is based on
historical cost, flexible and compatible.

Table of contents
Introduction......................................................................................................................................4
Background......................................................................................................................................4
Systems requirements......................................................................................................................5
Software selection............................................................................................................................6
Conclusion.....................................................................................................................................10
Reference list.................................................................................................................................11

Introduction
The aim of the report is to explain the importance of accounting information software in view of
the organizational structure and operating practices. This report is based on evaluating and
recommending accounting software to a client of the form. The client is an ASX-listed company
named Abacus Property Group. This report contains a brief description of the client and its
business activities and its business processes. This report has focused on explaining the features
of the accounting software and its functionalities that the Abacus Property Group must consider
supporting its business activity. Also, a brief description of two software packages has been
provided in the report along with comparison and contrast in their features and the most suitable
vendor is also identified for the client.
Background
Description of the client
The client of the firm is a real estate company named Abacus Property Group. This company is a
property group and invests in various properties across Australia. This company was established
in 19966 and in 2002 got listed in ASX (Pierce, 2015). This group consisted of three companies
named Abacus Storage Operations Limited, Abacus Group Holdings Limited and Abacus Group
Holdings Limited. This company works on the strategy of investing in those properties which
have been underpriced in the market and grab the opportunity to get maximum profit. It provides
many services in the real estate sector such as self-storage facilities, office rooms, industrial and
retail properties etcetera (Lu, 2017).
Business practices
Abacus Property Group generally works on holding the opportunity to add maximum value to
their security holder by taking the advantage with the help of releasing of assets, refurbishment,
acquisition and re-development of assets across Australia (Manisha and Bosman, 2018). They
work on the basis of providing changes in the asset and providing it required management over
the life cycle of the property. They also focus on social, political and environmental aspects of
business practices and involve all sustainable issues in their working operations and decision-