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Designing a Single System for Financial Statements

   

Added on  2019-10-08

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SOFTWARE SYSTEMDESIGNSOLUTIONSTUDENT
Designing a Single System for Financial Statements_1

ContentsTHE FUTURE PROCESS.................................................................................................................2FUNCTIONAL AND NON-FUNCTIONAL REQUIREMENTS.......................................................2HARDWARE AND SOFTWARE.......................................................................................................4ACTIVITY DIAGRAM.........................................................................................................................5BENEFITS OF THE NEW PROCESS.............................................................................................5
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THE FUTURE PROCESSAs it has been described that the company faces a problem to gather information from different platforms and convert them to a single platform to create the financial statements. So instead of converting the data from varied sources, handling large errors, hiring large manpower etc., one can rather create a single system which will have different modules yet in the same format. In other words, the new process will have different modules like:1.Accounts payable2.Accounts receivable3.General ledger Data will be stored in different files yet on the same server and using the same software. This will help in reducing:a.Errorsb.Manpowerc.Overall costd.Result creation timee.Report creation timeAnd the data will always be available and the users will not have to wait for the end of the month. The backups can also be taken up and also reports can be created anytime and the data will be simultaneously updated in all files every day with the increasing amount of data. In this way there will be lesser load on the IT department as well. This is so because they willonly have to maintain the hardware and software devices rather than handling all the conversion, merging and generation processes of the accounting system. FUNCTIONAL AND NON-FUNCTIONAL REQUIREMENTSThe functional requirements of the new system are:
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