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HA2042 Accounting Information Systems:Basic Business Activities

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HA2042 Accounting Information Systems

Questions:

You are working as a junior Business Analyst in a Big Four Accounting and Management Consulting firm in Australia. Recently, you are assigned to work with one client who owns and operates medium sized fashion stores across all states in Australia with the head office in Melbourne. In addition, this client also has a busy online fashion boutique business being operated by staff members in the head office. Currently, each store has its own accounting software and monthly management reports are manually prepared and submitted to the head office via email. As to the limitations of its’ current traditional accounting system, the client believes that an investment in cloud-based accounting software is needed to support the growth of the business.

Required

You are required to prepare a report to evaluate and recommend a cloud-based accounting software for the above client. The report should include the following components:

 1. Background

• Briefly describe the basic business activities involved in the revenue and expenditure cycles of the above client. (Hint: Observe the operations of a typical fashion store which you know)

• Identify the major internal control weaknesses in these business activities.

• Discuss the possible risks associated with each of the identified control weaknesses.

2. System Requirements

• Outline the software features/ functionalities that your client should consider supporting its business activities.

3. Software Selection

• Visit the websites of at least two (2) accounting software package vendors (e.g. SAP, MYOB, Xero, etc.) and provide a brief description of each vendor and its products.

• Compare and contrast the features/functionalities of two cloud-based accounting software packages offered by accounting software package vendors.

• Identify the most suitable vendor and accounting software package for your client and explain why it is the best option

The report should include the following components

 1. Holmes Institute Assignment Cover Sheet

2. Executive Summary

The executive summary should be concise and not involve too much detail. It should make commentary on the main points only and follow the sequence of the report. Write the Executive Summary after the report is completed, and once you have an overview of the whole text.

3. Contents Page

This needs to show a logical listing of all the sub-headings of the report’s contents. Note this is excluded from the total word count.

4. Introduction

Typically, the introduction is a short paragraph which includes background, scope and the main points raised in the order of importance. There should be a brief conclusion statement at the end of the introduction.

5. Main Body Paragraphs with Numbered Sub-headings

This section contains the detailed information which elaborates on the main points raised in the introduction. Each paragraph should begin with an exact topic sentence, then supporting sentences with facts and evidence obtained from research and finish with a concluding sentence at the end. Body of the report should contain sections to answer the above issues and with appropriate section headings

6. Conclusion

This section contains a logical and coherent evaluation based on a thorough and objective assessment of the research performed.

7. List of References

Include a minimum of ten (10) references, at least five (5) from peer-reviewed journal relevant to the unit.

HA2042 Accounting Information Systems

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