HI5019: Eureka Limited Case Study - Accounting Software

This case study examines Eureka Limited, a family-owned beverage company facing accounting challenges. The assignment analyzes the company's business requirements, including improved accounting accuracy, speed of completion, and cost reduction. It assesses operational problems and risks, proposing control activities and monitoring processes. The paper then explores suitable accounting software options, focusing on SAP, SAP Business One, MYOB, and Xero, comparing their features and market positions. The analysis includes system flow charts, control problems, and the development and adoption of the accounting software. The conclusion recommends a suitable accounting software solution for Eureka Limited based on the assessment. The paper also includes an executive summary, table of contents, and references.

Running head: STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
Name of the Student
Name of the University
Author Note

STRATEGIC INFORMATION SYSTEMS FOR BUSINESS 1
Executive summary:
The purpose of this paper is to discuss the accounting problem of Eureka company. The
Eureka limited is an organisation that is family owned. The company sales beverages to
several businesses, including supermarkets and pub-chains. Currently the company is facing
accounting-based problem. The purpose of this paper is to the suggest a suitable accounting
software for Eureka limited.

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Table of Contents
Introduction:...............................................................................................................................4
Business requirements:...............................................................................................................4
Improved Accounting Accuracy............................................................................................4
Speed of Completion:.............................................................................................................5
Reduced Overall Costs:..........................................................................................................5
Provides Accurate Reports:....................................................................................................6
Reduced Frustration with Tax Filing:....................................................................................6
Operational Problems Associated With this Organisational Structure:.....................................6
Risk Assessment:...................................................................................................................7
Control Activities:..................................................................................................................7
Information and Communication:..........................................................................................8
Monitoring Activities:............................................................................................................8
The accounting software:...........................................................................................................9
SAP:.......................................................................................................................................9
A Focus on Management:......................................................................................................9
SAP Business One:................................................................................................................9
MYOB:.....................................................................................................................................10
Features:...........................................................................................................................10
Xero:.....................................................................................................................................11

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Market Leaders:.......................................................................................................................12
The Most Likely Acquisition Method:.....................................................................................12
System Flow Chart for the Sales Procedure:............................................................................13
Control Problems and Fraud in the System:............................................................................13
Development and Adoption of the Accounting Software:...................................................14
The Current Market Size:.........................................................................................................15
Conclusion:..............................................................................................................................15
References:...............................................................................................................................16

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Introduction:
Eureka Limited is a family owned organisation that is having around 73 workers as
well as sales related revenue expanded to more than 18.5 million dollars from the previous
year. The company is doing business for more than 55 years, the company supplies beverages
to various organisations, including general stores and pub chains. The organisation has
encountered mixed fortunes throughout the years in the term of business execution, however
over the most recent couple of years has encountered a development in the orders for some
portion of the new healthy items. however, recently Eureka has lost some major accounts as a
result of being unfit to create a produce of its items at a competitive cost. The purpose of this
paper is to discuss the accounting problem of Eureka company. Currently the company is
facing accounting based problem. The purpose of this paper is to the suggest a suitable
accounting software for Eureka limited.
Business requirements:
Accounting software is one of the class of the PC related programs which empower
the organisation for dealing with the business' money related transactions. The projects are
able to shift generally in extension, alongwith several projects that are intended for the
minimal more than accounting as well as some intended for dealing with the whole monetary
related transactions as well as goings of the organisations that are more popular. Utilizing the
accounting software encourages organisations for utilizing the assets in the accounting offices
of them effectively, as well as can decrease exorbitant accounting botches. The accounting
software can monitor several things that are as follows:
Improved Accounting Accuracy
Accounting software benefits incorporate expanded precision through diminishing or
dispensing with human mistakes in the count. The accounting firms that are manual, include

5STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
making a deal that is great for the scientific estimations by manually. An erroneous
computation right off the bat in the procedure might greatly affect the end balance.
On the other hand, the PC, are basically unequipped to create such blunders.
Notwithstanding, this is ought to be noticed that the software that is related to the accounting
is not insusceptible to the man made mistakes that are emerging from the passage of
information or interpretation mistakes.
Speed of Completion:
Utilizing the accounting software enables the organisations for processing the
accounts with more noteworthy speed than the manual based preparing. Some of the portions
of the originates of the speed increment from the usage of the PCs, that may process the
figures so much quickly than the brain of the human (Connell et al., 2014). The accounting
software enables associations for building productivity through presenting robotization. As
example, that a business requires to record taxes of the sales on the majority of the
transaction of the company. Accounting software might be designed for doing that for each of
the passage consequently, instead of having one staff.
Reduced Overall Costs:
The advantages that are reduced because of the speed as well as the proficiency of
accounting software regularly go connected at the hand to hand with diminished in expenses
that are general. The usage of the software that are related to the accounting, permits each of
the individuals from the accounting group for accomplishing more in the time that is given,
possibly via implying this, one small group is needed.
Provides Accurate Reports:
The Accounting software causes organisations for supplying the users from the staff
with the convenient as well as exact monetary data. As example, it can be assumed that an

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organisation's accountant requires one report of the cashflow for taking to a gathering within
2 hours. Many of the accounting software have been worked in detailing modules which can
empower the consumers for making the kind of the report via just filling at one of the
structure as well as by clicking a button. Nonetheless, creating such kind of a report by
physically should be a procedure that is tedious.
Reduced Frustration with Tax Filing:
Documenting the business assessments may be a process that is complex, expecting
the organisation to monitor all business' related transactions. The benefits of the Accounting
software incorporate making this procedure simpler by guaranteeing that the majority of
business' budgetary subtleties have been remain in one spot (Ionescu et al., 2013).
Furthermore, organisations, for example, Intuit as well as the ATX produce expense form the
software that coordinates with their accounting related systems. It enables the organisation
for figuring the arrival itself semi consequently, instead of investment of the energy as well as
the assets that are working out the major subtleties by hand.
Operational Problems Associated With this Organisational Structure:
This kind of hierarchical structure might make control battles in an association as
there is no exact meaning of that lines that are related to the authority for the most part
because of the vertical coordination. Once more, there might be disobedience despite the fact
that the administration works in altruism to advance the accomplishment of the organisation's
goals (Sithole, 2015). Plus, there might be wasteful aspects related with correspondence as
well as the coordination that is between offices because of absence of an organisation.
Risk Assessment:
Each of the elements face an assortment of the risk that are from outside as well as the inside
sources. The risk is characterized as the occasion may happen as well as influence

7STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
antagonistically the accomplishment of goals. Risk assessment is including a dynamic as well
as procedure that is iterative for recognizing as well as for evaluating dangers to the
accomplishment of goals (Awosejo, Kekwaletswe, & Pretorius. (2014). the risks to the
accomplishment of the goals from over the element have been re viewed as with respect for
building up the risk resistances. Along these lines, assessment of the risk shapes the reason to
decide how the risks can be overseen. A precondition that is to the risk assessment is the
destinations foundation, connected at several dimensions of the substance.
Control Activities:
The Control activities that are the activities for setting up through the arrangements as
well as the strategies that help guarantee that administration's orders for relieving dangers to
the accomplishment of destinations are done. Control activities have been performed at every
dimensions of the substance, at different stages inside business forms, as well as over the
innovation condition (Awosejo, Ajala & Agunbiade, 2014). They might be preventive or
analyst in the nature as well as can include a scope of the manual as well as the mechanized
activities, for example, approvals and endorsements, checks, compromises and business
execution surveys. Isolation of obligations is regularly incorporated with the choice and
improvement of control activities. Where isolation of obligations isn't viable, the executives
chooses as well as creates elective control activities.
Monitoring Activities:
The assessment that is continuous, and the assessment that is separate or even a
mix of these two has been used for discovering whether each of the person of these five
segments of the monitoring includes the controlling the standards that are inside each of the
parts is working and available. The hierarchy of leadership. By the by, this authoritative
structure improves cooperation. The activities have to be monitored in this process.

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The accounting software:
SAP:
A Focus on Management:
Present day business accounting pursues commonly acknowledged models, so there's
an unavoidable level of comparability between accounting programs. Their methodologies
may shift, yet payables, receivables, a general record and comparative centre capacities have
been found in many of the projects. The things have an end in themselves, since the
organisation should provide details regarding organisation’s business, income and finance so
as for meeting legitimate commitments (Mistry, Sharma & Low, 2014). That equivalent data
can be utilized to show key information the organisation needs so as to deal with
organisation’s assets viably for progress and development. That administration perspective on
the information is normally depicted as big business asset arranging, or the ERP, as well as
it's the focal point of SAP's accounting items. SAP offers accounting items for organisations
everything being equal. Its items are adaptable, so the organisation in the event that the
organisation effectively develop from a modest startup to a colossal worldwide the
organisation'll have the option to keep utilizing and updating SAP at each progression of the
voyage. For little organisations with huge desire, it is a critical preferred position over well-
known accounting bundles, for example, QuickBooks or Sage. SAP's product items can be
conveyed in very own premises, on SAP's cloud or in cross breed establishments that
utilization both for most extreme adaptability.
SAP Business One:
Business One is SAP's accounting software for little as well as the medium-sized
ventures. It's accessible in variants tweaked for the wide scope of enterprises, and for country

9STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
explicit tax assessment and business principles. It also brings a large number of the highlights
of the organisation's top of the line items to the passage level market that includes modern
examination and detailing, distribution centre administration, acquirement and client
relationship the board. The organisation workers can get to the product through an application
on cell phones, so those highlights are accessible to the organisation wherever the
organisation have to be. For organisations that have developed past being a private venture
however aren't yet significant partnerships, SAP provides a mid range type of items that are
known as SAP Business by the Design (Suttipun, 2014). This develops the highlights
provides in the Business One for providing more prominent administration and detailing
capacities, and – such as the leader SAP software for huge organisations – preparing has been
performed in framework memory for quicker outcomes. This item is likewise appropriate to
independent divisions or backups of bigger organisations, which can utilize Business by the
Design inside however trade data with full scale SAP establishments at the organisation that
is parent.
MYOB:
The MYOB Accounting has turned into a family unit brand that is in the Singapore as
well as in many more nations as well as known for its overly simple to utilize accounting
software capacities. It can without much of a stretch make an outline of record, crediting
every day exchange and ongoing review of accounting reports.
Features:
MYOB underpins information passage in both Traditional Chinese as well as English
dialects. Henceforth, after picking language, each of the data, pictures, graph of records,
subtleties and control board will be shown in the language. It enables Chinese organisations
to utilize them quiet but work with English organisations in the meantime. These are a wide

10STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
scope of accounting software; MYOB is certain to exhort the organisation on which
programming to buy.
The following are a portion of the major feature:
• Able to enable clients to make multi organisations
• Able to enable the client to effortlessly alter accounts exchanges
• Able to revise charging, for example, solicitations and buy
• Able to change some announcing
• Able to print stock maturing announcing
• Able to print income announcing
Xero:
Set up in 2006, Xero is an electronic accounting framework intended for little and
developing organisations. Xero interfaces private ventures with their confided in guides and
furnishes entrepreneurs with moment perceivability of their budgetary position. As an
electronic arrangement, Xero is able to be gotten to from any gadget with a functioning
Internet association (Saver & Oluić, 2013). With Xero's powerful accounting highlights,
private companies can see their money streams, exchanges and record subtleties from any
area. Bank exchanges are for the most part consequently imported as well as coded. The
Online bill pay enables monitor spending and remain over bills that are due, improving
associations with the merchants that give basic materials of the business.
With Xero, individual costs can likewise be made do with portable survey and
endorsement of every receipt. Xero provides boundless client backing and joining with an
assortment of frameworks, including ADP, Vend and Bill.com. The arrangement
accompanies 30-days free trial for testing the product and evaluation of the features.

11STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
Market Leaders:
The market heads in market of Australia for accounting software incorporate Xero
and MYOB. Xero is given by a New Zealand global organisation called as Xero that
represents considerable authority in making accounting software while the MYOB is offered
by MYOB (your own business) and Australian worldwide partnership giving money related
programming (Ismail & King, 2014). The arrangement of value programming, vital unions,
global stature, effective administration, and development procedures are a portion of the
variables that provide these organisations an upper hand. Different components which give an
upper hand to these organisations incorporate the utilization of Cloud, SaaS, and internet-
based stages to send the budgetary programming.
The Most Likely Acquisition Method:
The acquisition technique is just the essential reason and procedure pursued by an
association when getting and introducing a data framework or programming in their
activities. In a perfect world, the probably obtaining programming for accounting data
framework by Eureka limited (EUREKA LIMITED) is business programming.
The Eureka limited gains its accounting software from Xero as well as form MYOB.
Both Xero and MYOB are accounting software that are cloud-based. MYOB and Xero
accounting software permit EUREKA LIMITED for attempting a few accounting systems.
The fundamental highlights of Xero accounting software incorporate cost following, stock
diagram, and buy request the executives (Mamić & Oluić, 2013). MYOB, then again, has
highlights which incorporate bank compromise, cost following, charge the board, income
acknowledgment, creditor liabilities, records of sales, finance, charging and invoicing. The
arrangement of MYOB and Xero accounting software is for the most part through the cloud,
SaaS, and Web based innovations.

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System Flow Chart for the Sales Procedure:
Eureka Limited offers money related administrations and, hence, the fitting deals
procedure in the monetary data arrangement of this organisation is as per the following;
The business methodology set up by the accounting software, for example, for Eureka
Limited has six noteworthy strides as featured on the above flowchart. Probably, Xero and
MYOB accounting software received by EUREKA LIMITED give coordinated and
mechanized customer the executives and organisation of accounting data with an improved
information diagram such as the one depicted previously. The last phase of the business
technique is the planning of money related records or the reports after compromise of
budgetary information.
Control Problems and Fraud in the System:
Observably, Cloud-based as well as the Web-based programming are presented to a
few dangers and extortion. The protection of money related data put away in this product is
small compared to cloud, or electronic accounting software is inclined to hacking. Plus, there
might be one of the replication of the client passwords might prompt unapproved openness.
The hackers could abuse assets through illicit exchanges or even utilize the data to put
deluding or trap adverts to the influenced association (Salleh, 2013). At the end,

13STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
organisations, for example, the Eureka Limited must put resources into cutting edge and redid
security levels for the accounting software of them to anticipate hacking and extortion
including unapproved get to. Moreover, cloud-based accounting software is inclined to digital
wrongdoing as unapproved clients apply antiviruses such as the firewalls to obtain entrance
the framework.
Development and Adoption of the Accounting Software:
Xero is given by Xero that is a New Zealand-based firm while MYOB is given by
MYOB (mind your own business) that happens for being an Australian global organisation
creating money related programming. Discernibly, more than 1 million Australian
organisations, accountants and clerks use MYOB, and it makes the MYOB for being the most
well known business software in Australia. MYOB is anything but difficult to utilize
programming and has mechanization highlights which incorporate assessment the executives,
customer the board, bank compromise, charging, invoicing, creditor liabilities, accounts
receivables, money the executives, and following of costs (MYOB Essentials Reviews and
Pricing, 2017). The seller built up this product without any preparation yet in an organized
arrangement which empowers organisations to settle on better choices, and to expand benefit
by giving a straightforward, secure, precise, and moderate accounting bundle. MYOB
empowers organisations to incorporate their activities. Basically, the usage or organisation of
MYOB is via the Cloud, SaaS, or even internet based technologies. Different types of usage
for MYOB incorporate portable Android local and versatile IOS local. This product has
simple to utilize and to pursue dashboard.
Also, Xero programming gives computerized refreshes. Xero is very broad and simple
to utilize accounting software that covers most of the requirements of banks and SMEs.
Particularly, Xero is one of the less complex yet hearty money related programming
accessible in the market of Australia (Xero Reviews and Pricing, 2017). In a perfect world,

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Xero programming is applicable to bookkeepers as it helps them to embrace accounting tasks
despite the intricacy of the accounting background. Xero programming has incredible help
and empowers business, for example, banks to make monetary reports. For example, Xero's
assistance focus gives answers for accounting issues that trouble bookkeepers. Xero
accounting software works in accordance with the needs and the principles of the Eureka
Limited.
The Current Market Size:
The market measure for accounting software in the Australia is huge. For example,
more than 1 million bookkeepers, accountants, and organisations, for example, banks use
programming, for example, Xero and MYOB. The notoriety of accounting bundles in
Australia emerges from the way that these bundles empower a business for settling on better
budgetary choices and to get ready exact, exact, and legitimately satisfactory money related
reports. Worldwide partnerships rule the market that is for the accounting software in
Australia.
Conclusion:
Thus, it can be concluded that the holes incorporate absence of work force
experienced with the product, dangers, for example, misrepresentation as well as hacking, the
execution of the product is related with surprising expenses, absence of specialized
information and aptitudes, and of sufficient help from the merchants (Schimmenti et al.,
2013). At the end, organisations must put intensely in the product, and some private ventures
are not ready to manage the cost of these accounting bundles. The projects are able to shift
generally in extension, along with several projects that are intended for the minimal more
than accounting as well as some intended for dealing with the whole monetary related
transactions as well as goings of the organisations that are more popular. Accordingly,

15STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
organisations should just actualize the money related programming which is in accordance
with the extent of their association, programming that is secure, and the software that the staff
has abilities, and programming which sellers give adequate specialized skill and backing.

16STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
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