Strategic Information for Business and Enterprise

Strategic Information for Business and Enterprise
Name of Student-
Name of University-
Author’s Note

Executive Summary
Centralized accounting system is an important for every organization and the case that
is considered for this assignment also uses the concept of centralized accounting
system. The centralized accounting system helps Bell Studio to collect the data, store
the data as well as manage the data in the system. It helps to control all the
departments such as manage the budgets, accounts receivables, expenditures as well
as other transactions that are related with the company. The following report states the
detail working process of Bell Studio describing the pitfalls of the transaction cycles,
management reporting, as well as financial reporting in the system. The computer
frauds in the system of Bell Studio is also discussed in the following report along with
the security measures that can be taken to mitigate the issues.

Table of Contents
Introduction........................................................................................................................4
Data Flow Diagram of Purchases and Cash Disbursements Systems.............................5
Data Flow Diagram of the Payroll System.........................................................................6
System Flowchart of Purchases System...........................................................................7
System Flowchart of the Cash Disbursements System....................................................7
System Flowchart of Payroll System.................................................................................9
Internal Control Weakness and Risk Associated............................................................10
Solution for risk associated..............................................................................................11
Conclusion.......................................................................................................................12
References.......................................................................................................................13

Introduction
The centralized accounting system in the Bell Studio helps to keep all the data
related to the transaction system. The centralized system is carried out physically as
well as digitally in Bell Studio. The centralized system controls all the departments in the
company. This system also controls the budgets, account payable, the expenditure of
the company, the accounts receivable as well as all other transactions in the
organization.
The centralized accounting system that is used in Bell Studio includes the
enterprise resource planning (ERP). This is a software that are used in different
branches of Bell Studio helping the managers and the clerks to keep a track on the data
of the organization. Bell Studio has different branches and data is generated from
different branches and all the data are to be updated on the centralized system so that
they management can get the overview of the data at every locations of the company.
All the records of different branches are recorded in the centralized system.
The following report below particularizes the detail working process of Bell Studio
describing the pitfalls of the transaction cycles, management reporting, as well as
financial reporting in the system. The computer frauds in the system of Bell Studio is
also discussed in the following report along with the security measures that can be
taken to mitigate the issues.