HA2042, Accounting System in B Bakery Firm | Case Study

Added on -2020-02-18

| HA2042| 31 pages| 5020 words| 193 views

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ACCOUNTING INFORMATION SYSTEMSAccounting Information SystemsENE3296 – Gayanka GoonatillakePFEC3327 – Lakran FernandoSTRC3019 – Pasan GajadeepPRT3138 – Chamith Perera
2ACCOUNTING INFORMATION SYSTEMSExecutive Summary The main purpose of the assignment is to explain the concept of Enterprise Resource Planning.The case study on B Bakery firm explains their operational functions that they currently follow.The study explains that B bakery firm still uses manual accounting system for recording theirfinancial transactions. For this, the bakery firm now needs an accounting system or software thatcan help them in getting accurate results in minimum time period. The studies evaluate mainaccounting software such as MYOB, SAP and XERO with its advantages and benefits fordifferent types of software. The study even recommends B Bakery to use the best accountingsoftware package that meet their present requirements and expectations of the company.
3ACCOUNTING INFORMATION SYSTEMSTable of ContentsIntroduction......................................................................................................................................5Question 1........................................................................................................................................6Defining Business Processes...........................................................................................................6Part A...............................................................................................................................................6Who is a baker and what are the activities performed by B Bakery currently................................6Question 2......................................................................................................................................12Developing business requirements................................................................................................12Part B.............................................................................................................................................12Process that is crucial to be performed..........................................................................................12Part C.............................................................................................................................................14Suitable outcomes of the business process....................................................................................14Question 3......................................................................................................................................16Determining the systems requirements..........................................................................................16Part A.............................................................................................................................................16Question 4......................................................................................................................................17Software selection..........................................................................................................................17Part A.............................................................................................................................................17SAP................................................................................................................................................17
4ACCOUNTING INFORMATION SYSTEMSMYOB Software............................................................................................................................19XERO............................................................................................................................................21Part B.............................................................................................................................................23Adequate accounting software selection for B Bakery..................................................................23Question 5......................................................................................................................................24Vendor Selection...........................................................................................................................24Part A.............................................................................................................................................24Part C.............................................................................................................................................25Explanation of selecting best appropriate vendor (accounting software vendor) for B Bakery....25Conclusion.....................................................................................................................................26Reference List................................................................................................................................27
5ACCOUNTING INFORMATION SYSTEMSIntroductionThe current study explains the concept of Enterprise Resource Planning. Here, EnterpriseResource Planning means the flow of business activities where companies make effort toimprove different problems that they face currently (Worrell, Wasko and Johnston 2013). Theproblem can be related to purchasing, inventory, finance and marketing of any businessenterprise. ERP software is one of the famous accounting software that helps company whenthey implement the software in their operations. This accounting software helps in maintainingand sharing of information in and within the company. The accounting software enables databasesharing among various units in company. For instance- Employees specialized in various fieldremain content while communicating with other employee in the same grounds for exchange ofinformation (Wijaya et al. 2015). Using Enterprise Resource Planning help companies to getaccess to accurate information at the time of final decision-making processNowadays, Enterprise Resource Planning had extended their scope as they have reachedBusiness Intelligence (Turner and Weickgenannt 2016). It mainly include concept of E-commerce and market automation. In addition, Cloud computing is other concept that helpcompanies to increase growth and enhancement of business opportunities. Enterprise ResourcePlanning help in improving financial related problems in compliance with regulatory standardsand leading to risk avoidance From the case study, it is understood that B Bakery is a family-owned business that has70 employees. The firm earns revenue at $13.5 million for particular year. This firm offer breadand confectionary products that engage in business process. B Bakery analyzes business growth
6ACCOUNTING INFORMATION SYSTEMSfor past five years. B Bakery lost some of the key account and was facing difficulty to competewith their competitors (Worrell, Wasko and Johnston 2013). The firm currently uses manualaccounting system for recording their financial transactions that is time consuming and notaccurate all the time. To that, the firm felt the importance to invest money for implementingcomputerized accounting software. Question 1Defining Business Processes Part A Who is a baker and what are the activities performed by B Bakery currently Baker is a person who bakes breads and other confectionary items and sells it to thecustomers (Trigo, Belfo and Estébanez 2016). In addition, B Bakery is a well-known baker shopthat is owned by family and they planned for expansion by using accounting software. Usingaccounting software will help B Bakery at the time of recording financial transactions in the nearfuture. The firm has 70 employees who are working together and currently uses manualaccounting system. The firm is not a big one but decide to expand their operations so that theyearn profits by implementing accounting software (Worrell, Wasko and Johnston 2013). It is important for every business organization to keep a record of financial transactionson daily basis. Below is the process mentioned that should be used by business enterprise inorder to get access to accurate data (Sutton and Arnold 2013).
7ACCOUNTING INFORMATION SYSTEMSStep 1- Creation of customer account Step 2- Creation of Vendor account Step 3- Creation of bank account Step 4- Chart of accounts prepared for proper enhancement Step 5- Cash or cheque received from customers Step 6- Payments need to be done either by cash or cheque Step 7- Journal entry preparation “Sales and Marketing Department”
8Sales and Marketing Department ProcessCreation of Sales OrderSales orders picks up as well as packed in nice wayShipping OrdersCreation of Sales InvoiceReturn of items for any detection of defectsACCOUNTING INFORMATION SYSTEMS

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