Accountastic 4 Consulting Executive Summary

SMW’s current accounting information system is a cutting edge relational database system through Microsoft Access with internal controls set to adequately prevent and detect errors and fraud. This relational database system tracks sales orders, shipments, accounts receivable, cash receipts, purchases, accounts payable, cash disbursements, inventory levels and other relevant accounting information. The system’s output is compliant with Generally Accepted Accounting Principles (GAAP). The database processes currently in use at SMW are described below.

The process requires Peyton Approved to discover how much inventory is sold and what the cost of goods will result in. The process requires the business to review three forms of merchandise inventory to determine which summary benefits the business’s operational behavior. One will discover when assuming that first inventory purchased by the store is the first to be sold, it is determined that the FIFO method displays the best financial outcome for the business. During the process of updating journal entries, one must enter the information proved appropriately into the T-accounts to add the balance under each record. Once the T-accounts for transactions and adjusted transactions are balanced, the next step is to enter the information provided on the balance sheet. The balance sheet will list Peyton Approved assets, liabilities and stockholders equity after added during the T-account process (Nobles, 2014). Once the balance sheet is completed the income statement, statement of retained earnings, and closing entries can be filled with the information proved. This will give the business a full review from journal entry to closing entries of the business for the six month accounting

As in any other investment, the upgrade of the “bookkeeping” system in the Books’R’Us scenario will be associate with concerns about cost, return of investment, security, workforce accessibility and limitations, complexity of the project. Overall issues that may arise during the implementation phase, such as roles and responsibilities, execution times, maintenance of the system and turnaround in efficiency that will create profit for the company are key responsibilities for any designer. With that in mind a few very important questions that we need to ask before we jump into the design phase are security level desired by the owners and what is the security clearance that each employee will have, what complexity level the owners would be comfortable with and what design will be easy for them to maintain and navigate more efficiently. As the design begins, the owners would greatly benefit by assisting in a quick interview about the database layout and the breaking down of the logical units, what they consider priority data and need to access multiple times a day.

As the information system is designed, implementation decisions describing how the system will work are made. Data flow diagrams offer those implementation details, including data stores that refer to files and database tables, programs and human actions that perform processes. The automated parts of the system are differentiated from the manual parts by the human-machine boundary (Dennis, Wixom,

After careful assessment of the infrastructure and inventory systems used at Riordan Manufacturing, our team has identified these systems are outdated and unable to effectively manage the day to day processing. As a global leader in the manufacturing of plastic products, the performance and reliability of the infrastructure is crucial to the continued success and growth of your company’s operations. Therefore, our solution to uplift the infrastructure and launch of the Riordan Global Operations System (R.G.O) a new platform for supporting inventory and managing customer orders . Our system will enable your employees and customers see

Each entity within Riordan Manufacturing has its own finance and accounting systems that provide input with the intent to consolidate at the corporate office in San Jose, California. Each branch of finance and accounting has a general ledger, accounts payable, accounts receivable, order

Comprehensive accounting systems and practices assist companies in monitoring cash flow expenses and investments as well as identify new sources of income. Riordan Manufacturing’s current accounting system lacks consistency across multiple locations and basic accounting modules. Each location has a closed system and dos not incorporate other department systems such as Marketing and Sales, Production, and Operations. Streamlining each accounting system to include the basic accounting modules and incorporating other company systems will help to ensure

* Imagine that you have been working on a project to design and build a given system. You have completed the elicitation and evaluation phases and now you need to specify and document the system-to-be. Suppose you have decided to use diagrammatic notations for the specification and documentation. Your options are to use context diagrams or frame diagrams. Evaluate each type of diagram and select the one you feel is the best fit. Provide a rationale.

The following report relates to the internal controls of Woolworths, and will look to describe and analyse them with the use of flow charts. The report will then move onto give details of an audit program that has been designed to test the internal controls of Woolworth’s accounts payable. Moreover, possible ways of how controls could be overridden as well as how the overall system could be realistically improved will also be discussed within the report.

Riordan Manufacturing, Inc. is an industry leader in the field of plastic injection molding. Using cutting edge art design capabilities, this Fortune 1000 Enterprise Company maintains facilities in San Jose, California, Albany, Georgia, Pontiac, Michigan and Hangzhou, China, and has annual earnings of $46 million. A company does not attain and maintain this type of success by accident. Part of Riordan’s success is due to its conversion accounting cycle. This paper will initially identify the five accounting cycles and explain how Riordan uses the conversion accounting cycle. Next, the strengths and weaknesses of the internal controls related to the conversion cycle

Accounting Information Systems Controls and Processes, 1st Edition_Leslie Turner, Andrea Weickgenannt (SM+TB+IM +Spatteli,s Pizzeria Solutions+Process

Mr. Day developed this sales system himself and it 's working rather well. He 's currently in the process of creating the user manual for the system. I 've also noticed that he sometimes makes adjustments to improve the system, which makes the accounting process more efficient. We 've agreed that he 'll reevaluate the process at least once every eight weeks.

With this system each customer’s order cost the same amount to complete causing orders with high profit limits to subsidized orders with low profit limits making it difficult for Super Bakery to know the true cost for an order. The company changed to the activity-based costing (ABC) system allowing the managers the ability to recognize the cost and profit margins for each sale. The ABC system associates the costs with the activities allowing managers the opportunity to access a system that allocates overhead costs that uses multiple bases. Costs can be traced back to each individual’s account regardless of the product provider letting managers know which products are profitable and which ones are not. The traditional costing system allocates cost to departments or jobs instead of overhead cost pools. The traditional costing system makes it difficult to know which activity or product is making a profit.

When engaged in auditing a public firm, such as Apollo Shoe Inc., an auditor must determine when to trust in the company’s internal controls and when to ascertain auxiliary testing methods are obligatory to analyze control risks. The sales and collection cycle is rather a substantial fraction of the audit because this unique segment employs a multitude of documentation and records ranging anywhere from customer and sales orders, shipping documents, credit memos, and general journal entries; therefore, a working

The author thanks Professors Martha Howe, Donna McConville, Ari Yezegel, participants at the 2013 North American Case Research Association Annual Conference, the 2013 American Accounting Association Northeast Region Annual Meeting, and 2014 American Accounting Association Annual Meeting for their comments and suggestions on the earlier versions of the case. Comments and suggestions of the editor, associate editor, and two anonymous reviewers are also gratefully acknowledged. Supplemental material can be accessed by clicking the links in Appendix A.