Report on Organization using Accounting Software in Australia

Added on - 29 Nov 2019

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Running head: ORGANIZATION USING ACCOUNTING SOFTWARE IN AUSTRALIAOrganization using Accounting Software in AustraliaName of the StudentName of the UniversityAuthor’s note
1ORGANIZATION USING ACCOUNTING SOFTWARE IN AUSTRALIAExecutive SummaryThe objective of this report is to discuss about a company that uses accounting software inAustralia. This report discusses about Macquarie Group in Australia. It discusses about theorganizational structure of the company and figures out the problems. It discusses about thesoftware acquisition method of the company. It points out the current gaps in the system andrecommends the methods to be used in order to overcome the challenges.
2ORGANIZATION USING ACCOUNTING SOFTWARE IN AUSTRALIATable of ContentsIntroduction..........................................................................................................................3Part 1....................................................................................................................................3Current or Existing Organizational Structure..................................................................3Operational issues of Macquarie because of its Structure...............................................5Method of System Acquisition........................................................................................5System Flowchart depicting the Procedure of Sales........................................................6Possible Control Issues and Various Types of Frauds in this System.............................7Part 2....................................................................................................................................8Development and Adoption of Accounting Software Packages......................................8Current or Present Market Size........................................................................................8Market Leaders and their Competitive Advantage........................................................10Challenges faced by the Users of Accounting Software and Recommendations..........10Conclusion.........................................................................................................................11References..........................................................................................................................12
3ORGANIZATION USING ACCOUNTING SOFTWARE IN AUSTRALIAIntroductionMacquarie is a well known financial group of company that is based and located inSydney, Australia. It provides services that involve management of financial assets of the clients.Banking, capital, risk and advisory services and solutions are also provided regarding equity anddebt. This company has maintained an unbreakable record of generating profit for almost fortyeight years. Their framework for the purpose of managing risk is extremely robust in nature thathas been responsible for the massive success of the company.This report gives an overview of Macquarie Group as it uses accounting software inAustralia. The first part of the report talks about the organizational structure and points out theoperational inefficiencies existing in the current structure of the organization. This reportdescribes the method of system acquisition adopted by the Macquarie Group. It also presents aflowchart showing the sales procedure of the company. The second part of the report focuses onthe accounting software. It points out the market leaders and also their competitive advantages.This report identifies the current loopholes and gives recommendations about it.Part 1Current or Existing Organizational StructureMacquarie is a well known financial group of company that is based in Sydney,Australia. It provides services that involve management of financial assets of the clients.Banking, capital, risk and advisory services and solutions are also provided regarding equity anddebt. The organizational structure of Macquarie Group is flat or non-hierarchical in nature(Macquarie.com 2017). There are operating groups that are present. The number of such groups
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