Delivery in day(s): 3
ACC539 Accounting Information Systems Assignment Help
In this report I have been working as accountant an accountant in a regional accounting firm and have been approached by the owner of a start-up wholesale business. In this accountant system saasu accounting software system have been chosen to record the transaction in the company.
In this report we will discussed various important factors that could be used to understand several ratio to demonstrate the profitability of the business. All the businessmen has found a serious difficulty in managing their account and complex data in chorological and systemic manner there for in this present environment Saasu has been developed as computer based accounting system to manage complex data in efficient manner. In this report to demonstrate my understanding on the financial position I have taken XBlades Pty. Ltd. an Australian company engaged in fashion industry since so long (Svec, et. Al., 2014).
Saasu is the accounting system which is being used to enter a range of complex data and information of starts up business. There is clear fact that financial statement is the complete set of information of any business organization that showcases the actual condition of business and its profitability in the relevant year. Additionally it is given in this report that implementation of various analysis on the financial data provides a clear view point on the fact that how an organization could increase profitability in the given time schedule. Profit and loss, balance sheet and transaction by account, account payable, inventory of all the assets and resources are the key points in making clear accounting information for the business. Business report is the key ingredient for any business man to come up with an effective business decision for better management of business and earning more profit in the industry for the time being in force.
As per the question asked by the business owner I being an accountant would like to give my advice that company has earned net profit of 4.2M $ in 2015 which is comparatively more from the income earned in last year. Profitability of the company provides the key data regarding how company is using its resources to generate profit in the organization. With the help of collection of data we could drive the following results as below
Net Profit Margin = Net profit/ Total Sales
Net Profit Margin for 2015 = 2552 000 / 1,056,130 000 =
Therefore company has earned $ 2552000 in 2015 against the turnover of $ 1,056,130 000. So now it could be said that company has worked very efficiently and earned very good amount of profit in this relevant year (Lyby, et. Al., 2011).
Recommendations to improve profitability
1. X Blades Pty. Ltd. should focus on enhancement of turnover of products in the market
2. Company should also engaged in strategic alliance with other company to develop synergy in the value chain activities
3. Company value chain process could be used 24 *7 hours by engaging two different processes in two different shifts.
4. Hiring of experienced and quality of staff
5. Providing Employees motivation skills
In order to make better and effective decision making X Blades Pty. Ltd. could use different data such as cash flow statement of the company (Forbes et. Al., 2015).
1. Annual report
2. Auditors report
3. managerial representation Letter
4. Director report
Identified report has helped business owner to determine how organization has been running its business and how its investment has been used to in operating activities of the company. Furthermore all this report could portray key facts about the performance and disposition of a business that helps investors to make good investment decision in company. Shareholders or other stakeholders use this following report to appraise the performance, financial capacity of the business, sustainability and growth potential throughout the time.
I am working in a local accounting firm who provides valuable suggestion to clients for their business growth and way of working in present scenario
Organization is the complex set of activities in which various functions and process are being managed by management department. There is find clear fact company has to manage its data and imperative information in well and systematic manner for the future reference. Therefore in order to understand the accounting information system and its need in this competitive environment business intelligence play a very pivotal role in business organization world.
Business intelligence is computer base information management system that is used to gather imperative raw data and afterward with the assistance of data mining process same raw data is converted into information. In today’s world each and every organization for developing core competitive advantage in the industry or developing effective marketing plan use business intelligence. In organization management department or strategic planner are the key persons who use business intelligence system in process system for formulation of effective strategic planning (Melville, 2010).
Business intelligence is the critical process that is comprised of converting data into information in efficient manner. there are several definition is given to describe the real meaning of business intelligence but in simple term it could be said that it is used to define variety of software application used to analyse organization raw data.BI could be used to showcase several activities that is coupled with following process such as data mining, analysis of given data, processing queries and understanding factors and reporting and end up with drawing conclusion from this process.
It is the complex accounting software application which is used to gather required information from the business process and convert this data into meaningful information by Appling data mining, reporting, and concluding process in best and efficient manner. There are so many big organizations which use this process system to understand their past mistakes so that in future that can be prevented.
As per the royal orchard Business intelligence is the complex set of technology driven activities for analysing data and developing actionable information to assist the corporate executive and business management department to formulate more informed business decisions.
Business organization helps in generating key required information and provides a clear view point how an organization could survive in market with available resources in better manner. It gives corporate idea about the past mistakes and future plan and how best strategic plan could be developed with the available collected data.
In the last words it could be said that it is the required tool that helps organization to analyses data in best and effective manner so that an informed actionable data could be developed to make good business decision in business organization.
Competitive advantage- It is the key intent of the company that is being developed by the organization throughout the time provides clear assistance in attracting clients and keeps organization distinct from those of others in the industry. It could be copied by other companies with the time being in force in the given market segment.
Business intelligence can provide a competitive advantage.
1. It helps organization to develop 24 * 7 user friendly access to all the developed imperative information that is helpful in identifying all the key information of business in the given time schedule
2. Valuable data mining tool and its fast level of performance in gathering information helps company executive and management department to make good informed decision for the business
3. Business intelligence has following key intents such as separate dashboard, reporting tool, self-services visualization predictive mobile app and furthermore that can helps user to come up with more effective strategic plans and procedure they developed for the organization,
4. Use of data mining and analytics can impact decision making in an organization.
5. It helps organization to make preliminary assessment of current and future processing needs and helps in determine the requirement of changes in the business organization.
Use of data mining and analytics can impact decision making in an organization
Data mining is the process of analysing data and other factors from several prospective and present the imperative data in summarized manner. In retail industry of coffee business loyalty card could be understood as an agreement between business and customers in which customers allows business to track their purchase and in return they are offered rewards or redeemable points. This loyalty card helps in data mining in several methods such as it allow Costa to track the customers’ purchasing behaviour, their location, product purchased. Combo, coupon and portal they used to shop, timing of site visit and their social network details. These are the important data which is gathered to convert into imperative information for the management team or company’s executive business decision making.
Impact of the same on decision making in an organization-
It provides actual data in less time that helps Costa to customize their product as per the choice of the clients in the given geographical area. Furthermore customers are keen to have discount and offers on their purchase so this loyalty offers would also result into more turnover of the business in the Coffee retail industry market.
In this report we have taken a clear grasped over the matter of business intelligence and its working style in the business. Now I would like to end up my report by saying that business intelligence process is very necessary to have in organization in this present time schedule.
In this report we will discuss how Queensland Health Information Systems implementation failure has clearly showcased that information system could be determinately to the standard budget what business has established to implement, established managed process system. This report data will help us to demonstrate the proper understanding or complete application of principles relating to computerized information system in contemporary organization, role of data analysis and its tools to interpreted data. Furthermore will also discuss Queensland Health Information Systems implementation has used various process to implement IS program and practical approach provides us several shortcoming that resulted into failure of planning development and implementation.
Role of data analysis
Data analysis is the complete set of activities which starts in organization before the implementation of data mining process. It is concerned with collecting imperative data and then develops a good understanding to draw conclusive information with the available resources. Mostly data analysis process is used in organization by the management team to come up with the effective decision making. In Queensland Health Information Systems implementation all the required information is presented in bulk for developing a sophisticated view over the concerned matter. Data analysis in simple world could be understood as process that bifurcate data into different section in chronological manner so that same could be converted into required information.
Factors that contributed to the failed payroll system implementation project at Queensland Health
There are following factors that have resulted into failed payroll system implementation project in the organization.
1. Payroll and series of test was performed in parallel in different time schedule and organization accepted the inherent risk and selected to go- live without testing of all the functionalists
2. Poor management of the project as a consequences of the poor handling and high level of complexity inherent in the IS implementation project.
3. Industry complexity is the biggest factor to highlight that health care industry is coupled with many process and security to patients, apart from that size of the industry is also very large as various process system. Other problems that resulted into failure attributed to poor project management, encompassing lack of top management support.
4. ERP implementation projects lacking with establishing a good amount of nexus between vendor, clients and consultant.
5. Communication issue is also one of the emerging drawbacks that have kept company behind from the point of successful implementation of project at Queensland Health.
6. Lack of faith in IBM team who were engaged in Systems Development Life Cycle (SDLC) was also found less effective in their job.
System development life cycle-It is the transaction processing system where collection of people, procedure, software, database and devise used to record all the relevant business information.
In the simple term it could be describe as software engendering to describe a process system of planning, creating deploying and interpretation an information system.
Relevant phases of step of the System Development Lifecycle
System Analysis- Itis the first step of SDL that depicts the information regard with the system needs cost associated with and furthers more. Queensland Health implementation program is having shortcoming of poor handling and high level of complexity in the IS system.
Conceptual design-Queensland Health is engaged in vast industry sector which is concerned with several health businesses. Organization has been using complex conceptual design to gather information that should be rectified in the given time manner.
Physical design- Queensland Health has low level of conceptual design as communication issue, complexity in the system process are the major problem therefore in order to upgrade SDL organization should changes its physical design in efficient manner.
Implementation and conversion- in order to better establishment of system development lifecycle organization should make following changes install (Chen, et. Al., 2014).
Principles relating to computerized information systems in contemporary organizations
1. Good decision making and key skills in Inova health foundation are the foundation to develop effective decision support system.
2. Using of decision support system in organization when all the problems and conflicts that comes into notice is unstructured.
3. System user, company executive and process employee works together to explore the new ways of working and mitigating problems in the given area.
4. Establishment of bifurcation process to define data and information to respective persons in systematically manner.
Queensland Health should do following things
1. Establishment of new hardware and software in SDL program of the company.
2. Shuffling of employees in the process system or hiring of competent employees
3. Modification of testing procedure
4. Completion of system documentation.
In order to come up with effective SDL for the business there is requirement of a good planning development for Queensland Health to rectify the present shortcoming in the business process. It is required to estimate the cost of new project and determine whether the new system is cost beneficial for eh organization or not. Following terms could be used to evaluate the process cost and viability such as Net present value, IRR, NPV and etc. (Varajão, 2013).
Underpinning a systems planning development and implementation-
It postulates that in organization there is high amount of cost shown as fees amount involved due to the difference in the management staffs and owners of the company.
There is requirement of establishment of nexus between management department goal and owner’s goal in right manner
A well formulate AIS should capture pressure on modern business practice to ensure its sustainable life.
This bar chart helps in providing a clear activity plan of the Queensland Health for rectifying all the associated problems in SDL system in the company.
Queensland Health might face several problems in establishment of new system in implementation of process system in various value chain o the company (Blankertz, et. Al., 2011).
2. Complexity in the system
3. Disruptive nature of changes that occurred in organization
4. Employee’s personal intents and their rigidness to accept changes
Typical network configurations-
It is mute vendor network change, configuration that provides solution for switches, routers firewall and other several network devices. There are following components of network that is being used in this organization for better functioning.
Evaluate accounting information system
This system helps organization to analyse efficiency of AIS such as internal control system, cost benefit analysis, disclosure of required information and implementation of internal and external audit process in Queensland Health.
Conclusion & Recommendations
In this report I have understood various Fundamental factors of information system having the ability to put this knowledge to work to build an effective organization that reach its goals and objective in determined manner. in this fast moving environment where emergence of complexity in the burins life cycle in very normal computer based information system have proved to be much of help consist ably making it possible to organization to enhance the quality of business. Now I would like to conclude my report by saying that system development life cycle is very important factors in big and complex organization to maintain right amount of data or information.
Queensland Health should update its system development life cycle to overcome shortcoming of the business such as technology conflicts, use of out-dated software, breakdown in system that needs replacement or develops quality and error free software application. Another fact is business has been facing several problems such as inefficient communication in staff, management conflicts breakdown in system that all could be rectified with the simple systematic process of applying. There is also understood that if governance program on the organization such as increasing the number of bureaucratic decisions and increasing the degree of red tape is put into action then failure to implement project payroll could be overcome in the given time. This is given that Queensland Health is being engaged in complex set of activities or industry where several functions are performed therefore it is required to develop critical path to demonstrate the best suitable choice of action for the organization to pursue its goal in better manner. Operational and maintenance is also coupled with various drawbacks that have also resulted into problems in various functional area of Queensland Health so in order to develop better functional area.
"Bonds' Risk of Being Taxed Must Be Disclosed, SEC Says", 2013, The Bond Buyer, vol. 122, no. F320.
Baskerville, R.L. & Myers, M.D. 2015, "Design ethnography in information systems”, Information Systems Journal, vol. 25, no. 1, pp. 23-46.
Bippart, G. 2013, "Highlights from Securitization Intelligence Incorporating Total Securitization", Journal of Structured Finance, vol. 19, no. 2, pp. 120.
Blankertz, B., Lemm, S., Treder, M., Haufe, S. & Müller, K. 2011, "Single-trial analysis and classification of ERP components — A tutorial", Neuroimage, vol. 56, no. 2, pp. 814-825.
Chen, H., Varshney, L.R. & Varshney, P.K. 2014, "Noise-Enhanced Information Systems”, Proceedings of the IEEE, vol. 102, no. 10, pp. 1607-1621.
Forbes, W.P., Donohoe, S.O. & Prokop, J. 2015, "Financial regulation, collective cognition, and nation state crisis management: A multiple case study of bank failures in Germany, Ireland, and the UK", The Journal of Risk Finance, vol. 16, no. 3, pp. 284.
Jayadev, M. & Rao, R.N. 2012, "Financial resources of the microfinance sector: Securitisation deals – Issues and challenges Interview with the MFIs Grameen Koota and Equitas", IIMB Management Review, vol. 24, no. 1, pp. 28-39.
Lyby, P.S., Aslaksen, P.M. & Flaten, M.A. 2011, "Variability in placebo analgesia and the role of fear of pain—an ERP study", Pain, vol. 152, no. 10, pp. 2405-2412
Melville, N.P. 2010, "Information Systems Innovation for Environmental Sustainability", MIS Quarterly, vol. 34, no. 1, pp. 1-21.
Svec, V., Pavlicek, V. & Ticha, I. 2014, "TEACHING TACIT KNOWLEDGE: CAN ARTIFICAL INTELIGENCE HELP?", Journal on Efficiency and Responsibility in Education and Science, vol. 7, no. 3-4, pp. 87-94.
Varajão, J. 2013, "Enterprise information systems", The Learning Organization, vol. 20, no. 6.