Accounting Cycle Description Essay

Hugh McCaughley, Chief Operations Officer of Riordan Manufacturing has requested a new system for the Human Resources department of their company which would be implemented and utilized at three plant locations and the company headquarters. To build the new human resources system properly, information must be collected from various areas of Riordan Manufacturing, and the information will be collected in a variety of ways. This information must then be used to determine such items as scope of the project which can allow for feasibility studies to ensure the system should be implemented,

An accounting cycle is a process, or a series of activities, that consists of collecting an organization’s transactions at the end of a reporting period to prepare essential financial statements of a business (Fleury, 2015). The accounting cycle is a strict, methodical set of rules used to ensure the accuracy and conformity of financial statements (Investopedia, 2017). The steps involved with an accounting cycle, the roles each of the step facilitate, the impact of omission, and what financial statements are assembled from the accounting cycle data.

According to Financial and Managerial Accounting, the accounting cycle is the approach companies use to create their financial statements

Accounting is commonly described as the language of business. It is very important for all business owners to have very good understanding of their finances. Having the knowledge of your business finance, you will know where the money is going. Every business owner should have a good understanding of finance. To have a good understanding business owners needs to understand basic accounting steeps, how does accounting play a role in their business, how to define a financial statement and how the omission of any of these steps would affect the success of a business. Once you have an understanding of accounting/finance and the how it plays

In our quest to ever better ourselves the IT department, of Riordan Manufacturing, is submitting this Request for Proposal to integrate a more sophisticated, state-of-the art, information systems technology in our Human Resources department. Riordan Manufacturing has always strived to better ourselves by keeping up with technology in all of our operating systems and our manufacturing systems. Our goal is to remain at the forefront of the manufacturing community as we keep leading the way in all of our business systems and, at the same time, keeping the feel of a customer friendly company. We want to make

The purpose of accounting cycle report is to keep the best accounting records up to date. It also assist in producing the best possible financial statement that shows the true pictures of the business or organization and help making a good call whether business is profitable or not.

There are several stakeholders at Riordan Manufacturing to gather requirements from to provide a clear picture of the final project. The first stakeholder to gain input would come from the Chief Operations Officer, he was the requestor of the system upgrade, is responsible for the budget, which includes payroll. The Chief Legal Officer oversees the legal aspects of the human resources programs. The individual human resources managers within the individual facilities are the stakeholders who recruit and handle benefits for employees. Each facility has an accountant that oversees payroll and bonuses as well as the payroll specialist (Apollo, 2011).

Riordan Manufacturing is a large company with facilities in several locations around the world. Riordan Manufacturing is an international plastics manufacturer that currently employs 550 people and operates at around $46 million in sales("Riordan Manufacturing", 2013). As a result of its size, Riordan must have a system that is able to keep track of important information such as employee names and other confidential data. This information should be able to be accessed from other locations as well as the home office. There are other functions that a new and improved HR system could benefit such as inventory tracking or the shipping or reception of products. These

It has been decided that Riordan Manufacturing will implement an official customer management system. This system will be used by everyone in the organization. The main goal of the team is to help with the planning and implementation of the new system in order for a smooth transition.

Riordan Manufacturing has decided to make a change to company’s customer management system. The company does not currently have any formal system for managing its customer information and has traditionally left this up to individual employees. This new system will require all employees to use one customer management system. Your team is now working to help Riordan implement this planned change. Your team must do the following in your role as consultants:

In order to create a successful business plan, we first conducted a needs analysis and put together a list of recommendations that could be used to help the company. Riordan Manufacturing would like to reduce costs and materials across all plants. The introduction phase involves the evaluation of the current

• Review the intranet site for Riordan Manufacturing including Human Resources – Organizational Charts, Employee Files, etc., and Sales & Marketing –

You may omit explanations of the transactions. Skip a line between eah set of journal entries.

The approach that I recommend will be an improvement to Riordan Manufacturing is the system often called cloud computing. Cloud computing will offer many advantages to Riordan, one of the essential advantages is that it's going to pretty much permit entry to the business each time, from any place, by way of any staff member.

The following is a proposal for the implementation of Active Directory within the Riordan Manufacturing organization. The primary reference for this proposal is the Microsoft guide "Best Practice Active Directory Design for Managing Windows Networks." The contents below will provide a working definition of Microsoft Active Directory, the benefits it will provide to Riordan, a base diagram of Active Directory for Riordan, and a detail analysis of the Active Directory diagram.