Adoption and Development of Accounting Software

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Added on 2019-09-25

Adoption and Development of Accounting Software

Added on 2019-09-25

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Running head: LITERATURE REVIEWLITERATURE REVIEW[Document subtitle][DATE][COMPANY NAME][Company address]

Adoption and Development of Accounting Software_1

1LITERATURE REVIEWTable of ContentsIntroduction......................................................................................................................................2Current Structure of Organization...................................................................................................2Operational problem........................................................................................................................3Identification of Control Problem in System...................................................................................3Possible Frauds in the System.........................................................................................................3Literature Review............................................................................................................................4Adoption and Development of Accounting Software Packages..................................................4Current Australian Market Share.................................................................................................6Leaders of the Market of Australia and Competitive Advantage....................................................6Challenges or Gaps for the Customers of Australia for Accounting Packages/software................8Recommendations and Suggestions................................................................................................8REFERENCES................................................................................................................................9

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2LITERATURE REVIEWIntroductionWith the passage of time, people are getting involved more and more in automation andtechnology which is provided through the computers to perform the tasks of daily routine. Inpresent era, the computers are handling almost all the things in the lives of individual whether itis running the industries, offering the entertainment facilities or enabling the globalcommunications. Computers and computers are connected naturally with each other and also actlike a blood line for businesses either large or small. Tracking transactions and assets have beenthe simple agenda for the system of accounting information and are related closely to earlycreation of even, arithmetic and number writing. Accounting software at present time who areoperating in large and small business through different solutions and also catering therequirements of the masses which come through different stages all through the history. Thisdocument will give a brief adoption, development and history, present market challenges, gapsand size which are faced by the customers of packages or software and may also lay variousrecommendations by using the approach of qualitative research.Current Structure of OrganizationBHP Billiton is a leader in the global resources which specializes in the international mining ofpetroleum, coal and metals. The head quarter of the company is in Melbourne in Australia. Onthe basis of the overall revenue and income, the organization is considered to be the leader in theworld in the mining sector as it creates a long term value for the shareholders by the expansion ofthe operations and activities. BHP Billiton is the consortium of dual organizations namely theAnglo-Dutch Billiton and Australian Broken Hill Proprietary. Both these companies got mergedin 2001 in dual listed organization (Boulianne, et al., 2014).

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3LITERATURE REVIEWOperational problemThe two significant factors which affect divisional coal of BHP Billiton are the cost which are setby government and secondly global prices for the petroleum. It is significant for the managementof the organization to put a balance for facilitation of the existence in the environment of highcost.Identification of Control Problem in System The most typical and traditional method used in accounting was the general ledger which was abook designated with the pages for all the accounts individually, for example stockholder equity,payables, receivables and cash. Almost every day transactions and dealings were manuallyregistered in to the journal. In the year 1983, the Company Intuit introduced a computer basedcomputing software for the personal finance Quicken. After that, Turbo Tax for calculating theincome and federal tax as well as Quick Books for medium and small size business purpose ofaccounting were available for various customers. Possible Frauds in the SystemAt the present moment of the development and growth of accounting technologies, the manualjournal transactions were left eventually in the past. Innovations in computer technologies madethe accountant jobs easier. Applications of accounting software presented the way forprofessionals of the accountants for performing the task swiftly as well as more efficient. Presentyears have given the excellent progression in the technology as well as the organizations arepresent to count over the innovations such as personal computer to aid them to run the business.

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