This report discusses the centralized accounting system used in Bell Studio, including its working process, pitfalls of transaction cycles, management reporting, and financial reporting. It also covers computer frauds in the system and suggests security measures to mitigate them. The report provides insights into the data flow diagrams and system flowcharts of purchases, cash disbursements, and payroll systems. Internal control weaknesses and associated risks are identified, along with solutions to mitigate these risks. The report concludes with recommendations for the Bell Studio management.