Tasteless Tea Company

At Terma North America Inc. (Terma), working as a financial analyst intern can be difficult when trying to explain the accounting software, IFS, to program managers who do not have an accounting or finance background. However, it is essential for the managers to understand the information found in IFS, due to the fact that the finances for their projects are stored here. Customers depend on the managers to be knowledgeable about their projects; therefore, it is my job to ensure that the managers understand the information within the system. During my internship, I have experienced situations where managers would become flustered, because they do not know what certain numbers represent.

The expansion of a new product line is an important growth strategy for a business that wants to increase their market share and revenue opportunities. Hamptonson is a midsized company that currently produces goods in the health food industry and will soon introduce a new line of health beverages on the market. Their decision is based on research and studies completed over time in the market and data obtained from various customer sources. Adding new products will enable Hamptonson to offer more to their existing customers and attract new customers who are unsatisfied with the limited options on the current market

All recorded data related to accounting can be managed under the accounting information system database. The confidential information in AIS must be available and protected with authorizations only each division should have access to. Each user has a personal identification and authentic password for authorization to the system and departmental data access. Some AIS also has security resets to users so their access isn’t compromised. This eliminates risk associated with internal data abuse and unauthorized department access. AIS have virus, disaster recovery and system updates. A virus will be a disaster for AIS. Whether internal or external, a threat can destroy a system data. Information security has keep accounting systems protected from

Mighty Leaf Tea is a company that is moving forward and looking to expand their market share. Currently, their products are available in many grocery stores nation-wide. However, they need to establish a strategy to pursue in the future. One strategy would be to rebrand their product. The case notes that customers may not be

In this essay I have explained the importance of computerised accounting using ERP solutions. First I explain various accounting processes in a company in two broad classes. Then I explore various features in the mySAP ERP solution and how they cater to these processes. Then I explain the recent changes in accounting standards due to the Sarbanes Oxley act and their repercussion to the design of ERP solutions. Then I explained how mySAP helps companies to be compatible with the regulation. The success of ERP implementation is based on various factors. I have researched 3 famous failure and 3 famous success stories in ERP implementation and explained the effect on the companies.

Access to vast amounts of data is creating paradigm shifts in business. What is the impact on accounting? Manual tasks are being automated at a fast pace. Technological advancements, along with the transformation of buying habits to more web-based purchasing is creating opportunities to observe elements of human behavior not previously tracked. Enhanced data tracking creates a sea of data elements available for harvesting. Companies are forming strategies using correlation analysis of behavioral patterns extracted from web activities. Executives are analyzing data elements relevant to their business to improve the efficacy of strategic decisions. As part of the development of stronger data analytics, executives see the choice of an Accounting Information System (AIS) as a critical component to execution. Data analytics, if accurate and relevant to the business, can be an effective tool to enhance performance in most business aspects, including accounting, operations, internal audit, external audit, and forensic accounting. The future opportunities in accounting are in forward-looking, analytical roles.

The current accounting software package may not be the most appropriate software package for (IRCL) due to an array of factors. The developer of the existing software package did have good technical IT skills, as referred to the case study. This draws attention to problematic issues such as ‘inadequate support of business’ which refers that the implementation of newer and efficient technologies to make operations run smoothly which improves functionality and performance, which were not taken intro consideration by (IRCL). This is evident, as the current software cannot process more than one thousand transactions a day causing a severe impact on the potential client growth and the expansion of the business whilst also having a detrimental impact on the economic growth of the company. Furthermore, another limitation of current software is “inability to handling production data capacity’ The inconsistent and inaccurate distribution of data in the in the inventory and sales databases could lead to communication issues and have a product appear to be in stock where in reality it is not. This is giving clients false

However, the constant growing and changing field of IT has had an important impact on all levels of the firm’s organization. In this context, the term "information management" has emerged as the most common name. As rue result, management information systems were developed to support the new role of accountant. This new role forced accountants to become the interpreter of information and to deal with the information overload. Now, the accounting department is now responsible to

After spending some time in this class, my knowledge and proficiency in Excel has dramatically increased and I feel confident in my works presented. I can carry forward this knowledge and use it as a base for my future accounting career. I can now make efficient depreciation schedules for fixed assets no matter the length of use. Depending on the method of the company, I can use different depreciation methods in the schedules or even use all three and compare to choose the best option. I can manage inventory items in a spreadsheet or create trial balances, for a relatively small number of accounts (software programs are typically easier to use for this purpose for large companies). I can also present financial statement analysis showing the percent of change from year to year and the percent of sales of a particular expense or all expenses.

Accounting information system is a transaction based information system as it deals with the economic events taking place in the enterprise. Most of these economic events take place in the course of day-to-day operations of the business enterprise. In the past, ac¬counting information systems were designed primarily for report-ing to statutory bodies such as tax authorities, regulatory authori¬ties and investors. Very little information was generated to meet the information needs of managerial decision making. The focus of accounting information has changed. It focuses more on generation of information for use in managerial decision making process. An accounting information system that combines traditional accounting practices such as the Generally Accepted Accounting Principles (GAAP) with modern information technology resources.

Have you ever heard the sayings “knowledge is power” or “information is money”? When people talk about accounting, what they are really talking about is information. The information used by businesses, as well as the technology that supports that information, represents some of the most valuable assets for organizations around the world. Very often, the success of a business depends on effective creation, management, and use of information. As companies become ever more reliant on technology, the need for welleducated Management Information Systems (MIS) auditors and control professionals increases. Improved technology has the potential to dramatically improve

The following paper will discuss how Starbucks would utilize tea and instant coffee in marketing and conducting business in Asia. In this particular aspect I will discuss the culture, habits, and perceptions of tea on the Asian culture. Starbucks has the opportunity to capitalize on a top fixture of Asian culture which is tea. The essay will challenge the reader to utilize their critical thinking skills as to how Starbuck will utilize business practices to conduct business in Asia..

Similarly the accounting information system is the system to keep the records of business to regulate its accounting system. It Includes categories like sales, purchases and various monetary processes of business. The basis of AIS is to gather the data and provide it with information to the investors, creditors and managers.

According to Dillon and Kruck (2004) in recent years the accounting information technology has changed the environment dominated by mainframe computers that were specialized only for the recording of business

The article, "The need for change in the way we teach accounting information systems", by Roger K. Doost, seeks to address the issues of how teachers and Universities are behind the power curve when it comes to teaching the Accounting Information Systems (AIS) course. He argues that lectures out of the textbook will no longer be beneficial if instructors do not include hands on training going forward.“The emphasis on database and database management should be supplemented with relevant software and teaching material to make the course more meaningful and the efforts more fruitful”. (Doost, 2002). This article is to illustrate how the incorporation of Microsoft Access into the AIS course provides an excellent demonstration into application and utility of database management systems.