logo

Case Study on Eureka Limited

   

Added on  2021-02-19

13 Pages4296 Words59 Views
FinanceStatistics and Probability
 | 
 | 
 | 
CASE STUDY
Case Study on Eureka Limited_1

ContentsINTRODUCTION...........................................................................................................................3Business requirements.....................................................................................................................3Key business processes for Eureka Limited...........................................................................3Major control risks for the business processes of the company.............................................4System requirements........................................................................................................................5Features of accounting software.............................................................................................5Software selection............................................................................................................................7Three accounting software package vendors..........................................................................7Category of accounting software suitable for the company...................................................9Vendor selection..............................................................................................................................9Features and functionalities of two accounting software packages offered by accountingsoftware package vendors.......................................................................................................9Most suitable vendor and accounting software package for the company...........................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
Case Study on Eureka Limited_2

INTRODUCTIONInformation system refers to the term which is used by the organisations for establishinga way through which the individuals of an organisation interact with technology in order tosupport the various processes of business. This system is very beneficial for the firms indetermining the requirements of the various processes so that these can be met by the firm.Accounting software falls under this category which are used by the firms for managing andcontrolling their financial information. Taken firm for this assessment is the Eureka Limitedwhich is a family owned company having 73 employees and sales revenue of more than $ 18.5million during the past year. Company is providing their beverages to the different supermarketsand pubs. This report will discuss the key business processes for Eureka Limited along with themajor control risks for the business processes of the company. Further, this report will also coverpossible accounting software features and functionalities for achieving organisational aims andobjectives. This report will also cover the description of three accounting software which can beused by firms. In the end, this report will also compare and contrast the features andfunctionalities of two accounting software packages offered by accounting software packagealong with the suitable recommendation for the firm.Business requirementsKey business processes for Eureka LimitedThere are various processes of Eureka limited which are performing their work with the requiredefficiency and performance in order to accomplish the desired organisational goals. Theseprocesses perform their work in an effective manner so that the organisational goals can beachieved in an effective manner (Agbejule,2011). The key processes of the Eureka limited are divided into three categories which arediscussed below:Product delivery: This process of the Eureka limited is performed by the productiondepartment which ensure the quality in the developed products. This process is essentialin the company for improving the sales and efficiency of the company so that Eurekalimited can sustain in the market for a long period of time. The company is using severalmethods of operation management for ensuring the quality of products.
Case Study on Eureka Limited_3

Customer satisfaction: This process in Eureka limited is performed by the marketingdepartment which ensures that the customers are satisfied with the provided products sothat they can purchase the products of the firm again. This is beneficial for Eureka limitedin enhancing the quality of their products if the customers are not satisfied with thecurrent offerings of the firm. The marketing department of the Eureka limited is using thesocial media platforms for enhancing the customer satisfaction.Fund management: This process in Eureka limited is performed by the financedepartment so that proper funds can be managed for performing the business operations.This is also beneficial for the firm so that proper amount of required funds can bemanaged if proper funds are not available in the firm. The company is however decidingto implement the accounting software for managing their financial information andrecords as well as to manage the information regarding the payrolls and other finances offirm.Major control risks for the business processes of the companyControl risks refer to the term which is used in accounting sector in which probability of falseinformation or misleading information in the accounting statements. This risks falls under theinherent risks which are of three types. Control risk occurs in an organisation when financialstatements get wrongly developed due to lack of properaccounting controlsin the firm. This ismost likely to surface in the form of fraud or lazyaccounting practices (Al-HiyariAl-Mashregy,Mat,and Alekam, 2016). There are different types of control risks which can impact the businessprocess of Eureka limited. Major control risk is associated with asset losses in which financialstatements can show profit even when the firm is facing the loss. This can impact the image offirm among the stakeholders which can also impact the sustainability of firm in the market aswell as in the mind set of the customers. This risk should be highly avoided by the Eurekalimited so that the financial record can be maintained properly. This can be overcome by thecompany by implementing the accounting software in which the data can be maintainedeffectively. Also audits can be done at regular basis for analysing the data or information of thecompany.
Case Study on Eureka Limited_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Strategic Information Systems for Business and Enterprise
|19
|4609
|33

Case Study: Eureka Limited
|19
|5090
|233

Strategic Information Systems for Business and Enterprise
|21
|4461
|185

Strategic Information Systems for Business and Enterprise Assignment - Eureka Limited
|14
|3805
|157

Usefulness of Accounting Software for Improving Business Efficiency: A Case Study of Eureka Limited
|16
|4838
|87

Strategic Information System for Business And Entrepreneur
|20
|4297
|433