Kudler Accounting System Paper
Jon Lazar
BSA/310
January 23, 2012
Jaclyn Krause
Kudler Accounting System Paper These days it is especially important to pay attention to details when it comes to deciding if your accounting system is providing the kind of information that may be required of you to produce. I think legal requirements and government regulations are becoming more demanding as to what they expect to see if someone such as the I.R.S. were to show up and ask for an audit. I would like to talk a little about a few of the key features, core technology, benefits, and costs of installing and maintaining an efficient accounting system and some of the benefits it would be to your company, especially in areas where details
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The internal control structure that can be installed in a new accounting system will help eliminate security risks through mechanics and procedures rather than expensive people ("Accounting - Basic Accounting Components of the Accounting System", 2003). There are several top rated Core Accounting programs that would fulfill the needs of your accounting department. Weak areas and areas of concern with the existing system include inventory and ordering control, and the way employees punch in and out for work. Presently, there is no systematic way of ordering supplies other than when a store runs low, an order is placed to share between the three stores. If one of the stores should experience a slow period, overstocking could very well become a problem, especially when freshness of their products is one of Kudler’s trademarks. An inventory control feature within the core program can automatically analyze, predict supply needs for a set delivery date, and actually place the order for each individual store saving lots of time and expense. The process in which employees punch in and out of work and the process it goes through just to get to the payment agency seems very time consuming for Kudler. A payroll processing feature of a new accounting system would record data such as name, date, time, employee number, etc. from a card that an employee would swipe upon signing in or out,
Romney, M., & Steinbart, P. (2012). Accounting information systems. (12th ed., p. 143). Upper Saddle River, NJ: Prentice Hall.
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.
Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2009). Accounting: Tools for business decision
The chances of failures can be decreased by executing the checks on the systems. These keep an eye on the systems preventing risks from occurring, and these checks are avoided as the interior controls. The motivation behind the inner controls is to keep the organization safe from risks associated with the modernized accounting-system risks. Organizations change their manual accounting systems to computerized accounting systems for different reasons, this incorporates the points of interest, and the explanation behind utilizing electronic accounting information is instinct. The organizations embrace the policies of their
With new threats introduced in the accounting environment, modern organizations now must work hard to safeguard information that was not at such a risk prior to new technology. Outside threats are a real danger to accounting functions in modern organizations, but other dangers to success lie from within.
ProductSAP ERP GBIRelease 6.04LevelUndergraduateGraduateBeginnerFocusAccounting Entries in Manual and Automated SystemsIntegration of Accounting JournalsAuthorsJim MenschingNancy JonesContributorsPatti BrownVersion1.0
With every internal control weakness a company needs to identify either a control policy or control procedure that will help prevent error or fraud from occuring in the future. Based on my suggestions as to what weaknesses existed at Goodner Brothers, Inc. I have suggested the policies or procedures that could be implemented to help prevent future issues. The internal control I would implement to hinder employee access to the accounting system would be to secure all computer programs with individual usernames and passwords to prevent access from others. The bookkeeper should be the only employee with access to the accounting system and to test this procedure the company would need to try and access the software without a username and password. To monitor the storage warehouse situation, the company should install computer scanning systems and video cameras at each location to supervize whether tires are being scanned in and out upon delivery and pick-up and to determine who and when these transactions are taking place. Semi-annual reviews should be conducted by sales managers to evaluate their sales representative. In addition, strengthening the tone at the top mentality should lie in the hands of each owner by personally reviewing all sales managers to create a top down effect.
In businesses today, it is imperative that the accounting system be tied into every aspect of a business and integrated within all of the information systems in use. Therefore, before any system is updated or changed, the accounting system must be considered and analyzed for compatibility and integration. Kudler Fine Foods hired a consulting firm to “assist in the selection and installation of a
The internet site that Kudler has gives good information about the service and product they have, but is need of updating to
Dynamics ERP by Microsoft Corp. is the best choice for Kudler Fine Foods as they need a new accounting system in order to operate at full capacity the key features, technology, costs, and benefits in which they have to ensure growing success within Kudler Fine Foods depends on upgraded accounting technology to stay ahead of their competitors. The key features for this product, the core technology, overall benefits, and the low costs compared to the competition is the key features to give them a possible edge
Accounting information systems provide the tools to operate and maintain important data related to an organization and interpret the information to develop quality financial reports. The revenue cycle of Riordan Manufacturing reflects sales and the components associated with sales such as inventory, freight, cost of goods sold and accounts receivable, yet this information is not readily available to each facility. Because the forecast for the company is positive and production and wages are expected to increase having source documents available within each branch of the company would improve the efficiency of the organization. Developing a plan to integrate an accounting information system for the
Accounting Information Systems The Crossroads of Accounting and IT by Donna Kay, Ali Ovlia Instructor’s Solutions Manual
Accounting Information Systems Controls and Processes, 1st Edition_Leslie Turner, Andrea Weickgenannt (SM+TB+IM +Spatteli,s Pizzeria Solutions+Process
Information systems changed forever the way accounting tasks are processed. The days of green paper pads are gone, and instead businesses have a centralized place where all accounting transactions are entered and saved. No more looking for paper
Effective internal controls protect a company’s assets, maintain compliance, improve operations, prevent fraud, and promote accuracy in financial reporting. In 1992 the