Accounting Software Packages Used by Australian Companies: A Comprehensive Analysis

Running head: ACCOUNTING SOFTWARE PACKAGES USED BY AUSTRALIAN COMPANY
Accounting Software Packages used by Australian Company
Name of the Student
Name of the University
Author Note

ACCOUNTING SOFTWARE PACKAGES USED BY AUSTRALIAN COMPANY 1
Table of Contents
Introduction ..................................................................................................................................... 2
Part 1 ............................................................................................................................................... 2
Current Organizational Structure ................................................................................................ 2
Operational Problems.................................................................................................................. 3
Most Likely System Acquisition Method, ERP.......................................................................... 4
Flow Chart of the Sales Procedures ............................................................................................ 5
Possible Frauds ........................................................................................................................... 6
Part 2 ............................................................................................................................................... 7
Development and Adoption of the Accounting Software Packages ........................................... 7
Current Market size..................................................................................................................... 7
Competitive advantages .............................................................................................................. 8
Challenges Encountered by Users .............................................................................................. 9
Conclusion ...................................................................................................................................... 9
Recommendation .......................................................................................................................... 10
References: .................................................................................................................................... 11

ACCOUNTING SOFTWARE PACKAGES USED BY AUSTRALIAN COMPANY 2
Introduction
The purpose of this report is to put emphasis on the Accounting Software Packages used
by Australian companies which can be valuable in manner to save time and money.
Nevertheless, there are more than sixty tools being used in Australia, it results in difficulty to
identify best tool among them that can be incorporated in the business for beneficial aspects
(Usmanij, Khosla and Chu 2013). Point that is notable is that whether it is an outgrowing of the
business, or, merging new organization into a pre-existing industry or system, or, there is
requirement of new accounting software in manner to seek workload, it is mandatory to seek
professional advice before the implementation of any new system in the business.
Part 1
Current Organizational Structure
Macquarie has a non-hierarchical organizational structure which is split into five
operating groups. Those groups are, a central group comprising the managing director, The
Executive Committee, Global Chief Operation Officer, Heads of major operating groups of
Macquarie and Head of Risk Management who are managing the organization as a whole
(Macquarie.com 2017). These groups put emphasis on improving the relationship between the
client and Macquarie as a whole. Following is a chart provided by Macquarie about its
organizational structure.

ACCOUNTING SOFTWARE PACKAGES USED BY AUSTRALIAN COMPANY 3
Figure 1: Macquarie’s Organizational Structure
(Source:Macquarie.com 2017)
Operational Problems
According to (Kotter 2012) there are five types of tasks that can moderate the efficiency
and lead to possible errors which can be listed as firstly, proper selection of the leader; Secondly,
corrupting effects of power; Thirdly, Motivation by group members, Fourth, Type of task, and
fifth and last Intra-group coordination. Type of task on which the group is working in manner as
if for some tasks there may be chances for groups who are better off giving disproportionate
control to their most capable and talented members who make decisions on behalf of the group.
Such tasks tend to be in routine, predictable and simple. Another factor which can lead to
inefficiency and errors is the improper selection of leader. Sessa and London (2015) have argued
that “groups strive to place individuals in charge who are competent and committed to the goals
of the group”. Objectives under this section are assumptions, commitment to the success of