Accounting Management and Software Implementation

This assignment explores the evolution of accounting management due to the implementation of new accounting software such as Enterprise Resource Planning (ERP). It highlights the importance of continuous reaction and bug-free maintenance for optimal performance. The discussion emphasizes the need for robust security measures, including encryption and firewalls, to protect sensitive organizational information. The example of Wesfarmers demonstrates a successful case study of utilizing ERP software for improved accounting practices.

Running head: STRATEGIC INFORMATION SYSTEM
STRATEGIC INFORMATION SYSTEM
Name of the student
Name of the university
Author note

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Executive summary
The point of this report is to examine about the associations which utilize the accounting
programming. The accounting programming plays a critical part in the authoritative
administration. The authoritative structure of Wesfarmers is talked about and the difficulties with
respect to the hierarchical accounting programming are likewise examined in this report. It is
reasoned that the product ought to be outlined with a specific end goal to keep up the security of
the association and clients.

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Table of Contents
Introduction......................................................................................................................................3
Part 1................................................................................................................................................3
1. Present Structure of Wesfarmer...............................................................................................3
2. Functional problem in the current structure.............................................................................4
3. Suitable system acquisition method.........................................................................................6
4. Flowchart of the selling system of Wesfarmers.......................................................................7
5. Identification of the control problems in the system and possible frauds in the system..........8
PART 2............................................................................................................................................8
1. Development and adoption of the accounting software packages...........................................8
2. Present size in market..............................................................................................................9
3. Competitive advantage and the leaders in this market...........................................................10
4. Present challenges encountered by customers of accounting software..................................10
5. Recommendations..................................................................................................................11
Conclusion.....................................................................................................................................11
References......................................................................................................................................12

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Introduction
In the modern world of information technology new software has been developed for
faster and more accurate analysis of data. Accounting software is created based upon one of that
technology and it handles all the information related to an organization’s accounting. It brings
more transparency in the whole system and the advantage of using such software is that it can
make the accounting process more efficient (Klettner, Clarke and Boersma, 2014). Wesfarmers
is an Australian company which mainly produces fertilizers, chemicals, coal mining and safety
products. It is one of the largest companies in Australia. This organization also uses several
accounting software for getting an integrated and swift accounting service (Pettigrew, 2014).
There is several accounting software like ERP, MIOB which are being used increasingly now a
days.
In this report the organizational structure of Wesfarmers is discussed with other features
and functionality of the organization. The application of the accounting software along with
several examples of those is also included in this report. The context of using the accounting
software in the functionality of the organization is discussed here in details.
Part 1
1. Present Structure of Wesfarmer
As Wesfarmer is one of the biggest organisations of Australia, it has a well designed
structure and it is given below.
Name Post
Richard Goyder AO Managing Director, Wesfarmers Limited
Rob Scott Deputy Chief Executive Officer, Wesfarmers

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Limited
Terry Bowen Chief Financial Officer, Wesfarmers Limited
Anthony Gianotti Deputy Chief Financial Officer, Wesfarmers
Limited
Maya vanden Driesen Group General Counsel, Wesfarmers Limited
John Durkan Managing Director, Coles
Michael Schneider Managing Director, Bunnings Group and Managing
Director, Bunnings Australia and New Zealand
Peter (PJ) Davis Managing Director, Bunnings UK and Ireland
Guy Russo Chief Executive Officer, Department Stores and
Managing Director, Target
Ian Bailey Managing Director, Kmart
Linda Kenyon Company Secretary, Wesfarmers Limited
Jenny Bryant Chief Human Resources Officer, Wesfarmers
Limited
Alan Carpenter Executive General Manager, Corporate Affairs,
Wesfarmers Limited
Tim Bult Director, Associate Businesses and International
Development
Olivier Chretien Managing Director, Business Development and
Corporate Planning
2. Functional problem in the current structure
The present structure of the association is outlined in such a route along these lines, to the
point that the operations are finished with better and quicker reaction (Scott and Davis, 2015).

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There are additionally a few issues which can be overcome keeping in mind the end goal to make
the authoritative structure more viable (Morgan et al., 2015). Those issues are examined beneath.
In this association there are a few gatherings of operations are outlined like hazard
administration, lawful and administration gathering, budgetary administration gathering and the
corporate gathering (Shaul and Tauber, 2013).
Sometimes the authoritative structure has many issues in regards to the correspondence
among different gatherings (Völter et al., 2013). A legitimate stream of correspondence can be
extremely valuable on the off chance that exchanging the data among a few gatherings of the
association.
The administration of the association in some cases neglect to pass on the fundamental
standards of the organization to the lower arrange representatives (Brown, 2016). They ought to
be exceptionally straightforward about giving the hierarchical objective to every one of the
workers of the association.
Sometimes the larger amount administration does not tune in to the lower level workers
(Barak, 2016). The lower level workers ought to likewise take a vital part to share their
perspectives about the few operations and they should participate in taking care of the issues of
the associations.
The exhibit association structure ought to be all the more persuading for the
representatives who are working in the association (Mahzan and Lymer, 2014). There are ought
to be levels in the structure on the premise of the capacity and execution with respect to crafted
by the workers.

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3. Suitable system acquisition method
Since it is one of the biggest organizations in Australia Wesfarmers utilizes different
accounting programming and framework obtaining strategies like business programming, custom
programming and ERP (Mahzan and Lymer, 2014). Lately many propelled programming are
intended to deal with the authoritative structure which has acquired a development the
accounting administration. These sorts of programming are made in view of new calculations
and are comprised of a few features that can viably give the answer for the authoritative. This
accounting software provides the newcomers with several new features for the analysis of the
data related to the accounting. As of late the ERP programming is utilized for the most part and it
gives best condition and highlights to accounting administration (Sampaio and Bernardino,
2016). The key components of the ERP framework are stock administration, materials
administrations, promoting and deals and generation arranging and some more. An association is
comprised of a few divisions like human asset, client administrations, accounting dispersion,
corporate execution, client administrations, deals, acquirement, and creation. The full form of the
ERP is Enterprise Resource Management. The ERP framework oversees the accounting part as
well as interconnects every one of the divisions of the organization. It likewise successfully
manages business knowledge, endeavor resource administration and web based business. ERP
incorporates the entire arrangement of the association and in this way expands the reaction time
and nature of the capacities and items.

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Order given Order is enlisted in the log
Availability and review
standards maintained?
Order approved Sell
Ask for
requirements
Changes needed?
Cancel orders
YES
NO
YES
No
Changes
done
4. Flowchart of the selling system of Wesfarmers
Figure 1: Flowchart of sales producers of Wesfarmers
(Source: Author)

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5. Identification of the control problems in the system and possible frauds in the system
After the utilization of the accounting programming in the associations many cases are
found in which the associations have given loads of issues with respect to the employments of
the product. Since the product are recently created and presented in the business utilizes, old
workers are confronting issues in utilizing the product (Annarelli and Nonino, 2016). There is a
considerable measure of distinction between the traditional accounting and the accounting
utilizing the product. On the off chance that there is a mistake because of the product then it
additionally gets that blunder this present reality. As a rule it is seen that the representatives are
confronting issues with respect to their pay because of a few blunders in the product. At that
point it requires a great deal of investment to adjust that mistake again in the primary framework.
Many hazard factors are likewise there in the event of utilizing the accounting programming. As
every one of the records and computations of the organization are worked in type of data, it
additionally brings another danger like hacking, information misfortune and security rupture
which can truly be a security issue for the association (Larsen, Manning and Pedersen, 2013).
Cataclysmic event and power misfortune or loss of web association can likewise be considered
as the issues with respect to the product.
PART 2
1. Development and adoption of the accounting software packages
As of late because of the headway of data innovation and software engineering a few
accounting programming are presented in the field of business. With the fruitful execution of the
product the requests are likewise expanding for these in accounting and administration. In the
field of accounting programming MYOB has carried a colossal reaction with their new

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accounting programming which are viably giving answers for a few accounting issues. Many
propelled programming like MYOB, Xero are utilized effectively in a few associations. In this
field the most progressive development is the ERP framework which is execute in a large portion
of the associations around the world. This sort of programming is giving simple invoicing, keen
reports and versatile programming for the headway of the capacities identified with the
accounting and administration of the association.
2. Present size in market
The following data is related to the share details and the information related to the stock
of Wesfarmers and all the data are collected from the official website of the Wesfarmers.
Figure 2: Details of stock and share related data of Wesfarmers
(Source: ("Share price", 2017))

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3. Competitive advantage and the leaders in this market
There are many accounting organizations in the market which are likewise making an
enormous benefit. A portion of the greatest contenders of the associations are Greenhill and Co,
Lazard Group, TD Bank, the Charles Schwab Corporation and the Raymond James Financial.
The principle favorable position of the focused condition among the association is that the
organizations are occupied with making the propelled accounting framework. The reaction and
administrations are consequently expanded because of the aggressive condition among the
associations. This opposition likewise urges the associations to execute a few accounting
programming.
4. Present challenges encountered by customers of accounting software
Since the product are recently created and presented in the business utilizes, old
representatives are confronting issues in utilizing the product. There is a ton of distinction
between the traditional accounting and the accounting utilizing the product. In the event that
there is a mistake because of the product then it likewise gets that blunder this present reality. As
a rule it is seen that the representatives are confronting issues in regards to their pay because of a
few mistakes in the product. At that point it requires a considerable measure of investment to
revise that blunder again in the primary framework. Many hazard factors are likewise there if
there should arise an occurrence of utilizing the accounting programming. As every one of the
records and figurings of the organization are worked in type of data, it likewise brings another
danger like hacking, information misfortune and security break which can truly be a security
issue for them. Cataclysmic event and power misfortune or loss of web association can likewise
be considered as the issues with respect to the product.

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5. Recommendations
 The programming ought to be completely updated.
 This programming ought to be used in an all around organized way so it can be
synchronized with the hierarchical structure.
 Software ought to be completely committed and ought to be dynamic for entire day.
 The principle highlight of this product is that it gives continuous reaction and keeping
in mind the end goal to keep up these quick reactions it ought to be kept up bug free.
 To keep up the security encryption and the firewall ought to be planned in a solid
way.
Conclusion
From the above discussion it is concluded that the accounting management has been
developed due to the implementation of the new accounting software like ERP. There is some
security issues which should be overcome for maintaining the information related to the
organizational functionality. Wesfarmers is one of the examples of the organizations which is
really benefitted by the application of such accounting software.

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References
Annarelli, A., and Nonino, F. (2016). Strategic and operational management of organizational
resilience: Current state of research and future directions. Omega, 62, 1-18.
Barak, G. (2016). Alternatives to high-risk securities fraud control: proposing structural
transformation in an age of financial expansionism and unsustainable global capital. Crime, Law
and Social Change, 66(2), 131-145.
Brown, T. (2016). Engineering economics and economic design for process engineers. CRC
press.
Klettner, A., Clarke, T., and Boersma, M. (2014). The governance of corporate sustainability:
Empirical insights into the development, leadership and implementation of responsible business
strategy. Journal of Business Ethics, 122(1), 145-165.
Larsen, M. M., Manning, S., and Pedersen, T. (2013). Uncovering the hidden costs of offshoring:
The interplay of complexity, organizational design, and experience. Strategic Management
Journal, 34(5), 533-552.
Mahzan, N., and Lymer, A. (2014). Examining the adoption of computer-assisted audit tools and
techniques: Cases of generalized audit software use by internal auditors. Managerial Auditing
Journal, 29(4), 327-349.
Morgan, A., Isaac, M., Scrutton, S., Wedgewood, J., Jankowska, P., and Hwang, D. (2015). EP-
1572: Using a commercial software package to support treatment planning peer review in small
radiotherapy departments. Radiotherapy and Oncology, 115, S860.

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Pettigrew, A. M. (2014). The politics of organizational decision-making. Routledge.
Sampaio, D., and Bernardino, J. (2016). Open source accounting software for SMEs.
International Journal of Business Information Systems, 23(3), 287-306.
Scott, W. R., and Davis, G. F. (2015). Organizations and organizing: Rational, natural and open
systems perspectives. Routledge.
Share price. (2017). Wesfarmers.com.au. Retrieved 21 August 2017, from
http://www.wesfarmers.com.au/investor-centre/your-shareholding/share-price
Shaul, L., and Tauber, D. (2013). Critical success factors in enterprise resource planning
systems: Review of the last decade. ACM Computing Surveys (CSUR), 45(4), 55.
Völter, M., Stahl, T., Bettin, J., Haase, A., and Helsen, S. (2013). Model-driven software
development: technology, engineering, management. John Wiley and Sons.