country
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

A Literature Review On Accounting Software Packages Structure

tag 0 Download8 Pages 1,891 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

Discuss about the Literature Review On Accounting Software Packages Structure.
 
 

Answer:

Accounting software package is the type of software that processes and records business accounting transactions in modules such as ledgers, trial balances, payrolls, payable accounts and receivable accounts. In Australia, some of the common accounting system used include MYOB, QuickBooks, sage, xero, reckon, cash flow and Nominal (James, 2008). The Company which I will review in this literature review is Australia Wheat board (AWB) company incorporated in Australia. This company emerged as a public company but later transformed into a private company. It markets and sells Australian oil, grain, and wheat for both domestic and international customers in meat industries, animal feeds, and food processing (Vasconcellos, JA 2004). It manages its finances through the use of accounting software packages in its operations.

Its Current Organizational Structure

Organization structure is the way an institution or organization achieves its objectives and goals through arranging people and jobs so that its work can be more productive and high quality of services and goods produced. Organizations are formed according to the size of the work group (Yasuhiko, & Mihajlo, 2012). Formal structures are appropriate in a situation where work group is small and face-to-face kind of communication is used. However, larger organizations have to assign individual duties, responsibilities and lay down procedures to follow in their daily routines (Yasmine, & Huub, 2014).

In any organization of complexity or simplicity, employees duties are delegated by their managers and responsibilities defined by what they do and managers who report to them. Job specialization is well administered in the organizational structures as individual interests are well addressed, a proper chain of command followed and discipline maintained through rules of the organization. The organization structure is divided into different classes depending on the employee’s professional qualifications, experiences and their levels of income. The organizational structure of this company follows criteria similar to manufacturing industry firm

After operating manager, there are various positions including department managers, supervisors, suppliers and team leaders and common employees in the organizations.
 

Operational Problems Associated with this Structure

The Organization structures have challenges which hinder their production rates, quality, and standards of Goods and services (Abrar, 2014). In this organization structure, some of the challenges include lack of co-operation from different people who work independently, the diversity gap between the managers and employees and workforce wastage. Changes in technology can be a challenging factor enhancing organization complexity; this may consume time as new technology requires proper training on employees to capture new features of the systems to produce high standards of Goods and services. Australian wheat Board Company may face challenges of low productions and low distribution of Goods and services to both domestic and international markets as in this organization structure there is a minimum number of markers shares. The company has not emphasized so much on marketing skills which act as a crucial part in determining the market power. However, AWB company owning well strategically level of management, they are likely to come up with best solutions of changes and good decision making as every aspect of the structure is observed. Employees are well supervised and motivated to produce more services and goods to their customers. This good supervisory skill of employees signifies that the company will still run in an appropriate manner as each department is well supervised even if there is independence in departmental functionalities.

 

Most Likely System Acquisition Method

Aquinas, (2008) support that the type of goods, the size of the organization in terms of revenues, employees and market share power determines the kind of system a company can operate. The probable acquisition method suitable for this organization is commercial software. Commerce software is suitable for this medium-sized business as it is easier to implement into the existing systems without customization and lack of restrictions and limits to users maintain. This software is very reliable and a well-arranged feature makes it the best when managing Data off all the clients and members of staff. The successful company analysis accounting records then audit financial statement and advance to reliable technology that provides high accuracy of data. The statement indicates that a reliable and economical software will be the best suitable for the company.

The data integrity and redundancy will be controlled if AWB Company acquires commercial software. This software is common to many professional and it will provide the accuracy required in the data processing. AWB will incur low cost when maintaining this type of system or when purchasing a relative system. Despite the software being efficient and convenient for use Australian wheat Board Company should also check on demerits of this software. If a demerit outweighs merits then Australian wheat board should look for alternatives (Ralph, 2013). Australian wheat Board Company will have to pay annual fees for this software for them to use it. Commercial software also may contribute to failure to meet a specification and goals for users and this will require the input from a professional firm which is costly. Despite this challenges, it is clear that small and medium based business should adopt this type of software as it will run the organization effectively and efficient to enable the organization to attain their set goals and targets (Ashutosh, 2006).

 

System flowchart of the Company Sales Procedures

A system flow chart defines how decisions are implemented in the organization to control events and display data flow. This means that data processes are monitored through several stages before organization emphasis on a certain policy and implement decisions (Takahara, & Mesarovic, 2014). In sales procedures, completion of prospective stage signifies the engagement beginning between customer and vendor. sales process consist of several steps depending on the type of products produced by a certain company, some of this steps includes initial contact, planning to sell, approach, assessment, presentations and follow-ups .flow chart provides easier presentations of the sales, analysis of sales reports and also enables future predictions of sales trends.

Accounting information system communicates with the external environment through set standards which show the relationship in the existing system components and how components interact with system (Ashutosh, 2006). Australia wheat Board Company will follow the flow chart as illustrated below majority below.  

The system data flow summarizes the steps which the organization uses to maintain the competitive. Initial contact is approached, customers. Sales representative approaches customer face-to-face or through calls and introduces them to products produced by the firm through samples. They also persuade them on merits they will get including after sale services once they become customers of the firm (Martin, 2014). The selling stage follows whereby they sell their products to customers approached before or their existing customers. They also assess their products and presentations are done to proof customers that their products are of high quality and meet valuable standards. Follow-ups is the final stage whereby the firm follows up with customers to get the feedback about produces quality, taste and also got some ideas from them on where improvement is needed. The firm reviews all comments from the customers and corrects where the products might not meet needs of customers (Shahzad, & Mathew, 2010).

Control Problems in the System

The commerce system depends on system developers experts to troubleshoot the commands in case of system failure. This may encounter loss of data or manipulates data. This puts a company at risk of inaccuracy records in customer perception enabling users losing confidence in the system and also may result in some costs of compensation and maintenance

 

Development and Adoption of the accounting software Packages

Accounting information systems refer to computer software for processing and recording accounting transaction within different modules. The software may be acquired from software developer or in-house by the business. The adoption of accounting software in Australia is at a very high rate among the small business compared to other countries. The high rate of this adoption is to simplify the work and increase accuracy on computations involved in accounts (Eric, & Yvonne, 2012). It is also flexible and generates an automatic report which maintains data integrity and confidence among the users. Through adoption of the system's data the firm gains competitive advantage as the flow of work is faster and data backups are done through cloud computing to ensure that in the case of system failures data will be well preserved (Masaaki, 2016).

The Current Market Size

The market share has effectively increased in size for both small size business and medium base business; this has been enhanced through the marking power of customers having confidence in accounting software’s systems. Popular companies using accounting system has paved a way for more employment opportune as system developer and designer are employed every day to debug these systems.

Leaders in the market and their competitive advantage

The global market has experienced a higher level of technology in accounting software’s system. MCBA Inc. is currently leading accounting software manufacturer for Digital Equipment (Martin 2014). The software’s with customized features and well debugged have gained favor in the market as leading companies are approaching them. In-house software’s developer has also been able to design attractive interfaces and design software’s on higher qualities. The huge competition is experienced when A Reckon Company designs advanced and personal financial software all in one. However, this company gains huge profits due to their limited competition in Australia.

Current challenges for users of accounting software packages and the relevant recommendations

Security threats and attack from malicious software’s had been one of the challenges the accounting software’s are facing in the modern world. Problems such as illiteracy among the system users, internet failures, and technology changes have been encountered (Steven, & Tim, 2009). Despite all this problems strategies to curb these problems had been found with users being trained well on systems. Security measures such as authentications, predicate cryptography, and information-centric security have been implemented to secure this system. I would, therefore, recommend that in future effective firewalls to be used to control network traffics and cloud computing data backups to be used to maintain data integrity and restore data in case information is manipulated.

 

Bibliography

Abrar, H, 2014, Business Technologies in Contemporary Organizations:Adoption, Assimilation and Institutionalization, IGI Global.

Aquinas, PG 2008, Organization Structure & Design:Applications & Challenges, EXCEL BOOKS, New Delhi, Inda.

Ashutosh, D 2006, Digital Accounting:The Effects of the Internet & ERP on Accounting, IGI Global.

Takahara, Y., & Mesarovic, M. (2014). Organization Structure. Boston, Ma, Springer Us. eBook : Bibliographic data : English.

Eric, GF & Yvonne, R 2012, Growing Pains:Transitioning from an Enterprenuership to a Professionally Managed Firm, 4th edn, Wiley.

James, AH 2008, Accounting Information Systems, 6th edn, Rob Dewey.

Martin, R 2014, Top Stocks 2015:A Stokebuyer`s Guide to Leading Australian Companies, 21st edn, Wiley.

Masaaki, K 2016, Human- Computer Interaction:Theory, Design, Development & Practice, Springer.

Ralph, D 2013, Accounts for Solicitors, 2nd edn, Routledge.

Shahzad, U & Mathew, T, 2010, Research in Accounting in Emerging Economies, 10th edn, Emerald Group Publishing Ltd, Wagon Lane, UK.

Steven, P & Tim, R 2009, Custom Wooden Sign Company, Lulu.com.

Vasconcellos, JA 2004, Ouality Assurance for the Food Industry:A Practical Approach, CRC Press, Florida.

Yasmine, M & Huub, L. 2014, Food Safety Management: A Practical Guide for the Food Industry, Elsevier.

Yasuhiko, T & Mihajlo, M 2012, Organizational Structure:Cybernetics Systms Foundation, 22nd edn, Springer, N.Y.

OR

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2018). A Literature Review On Accounting Software Packages Structure. Retrieved from https://myassignmenthelp.com/free-samples/a-literature-review-on-accounting-software-packages-structure.

"A Literature Review On Accounting Software Packages Structure." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/a-literature-review-on-accounting-software-packages-structure.

My Assignment Help (2018) A Literature Review On Accounting Software Packages Structure [Online]. Available from: https://myassignmenthelp.com/free-samples/a-literature-review-on-accounting-software-packages-structure
[Accessed 09 April 2020].

My Assignment Help. 'A Literature Review On Accounting Software Packages Structure' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/a-literature-review-on-accounting-software-packages-structure> accessed 09 April 2020.

My Assignment Help. A Literature Review On Accounting Software Packages Structure [Internet]. My Assignment Help. 2018 [cited 09 April 2020]. Available from: https://myassignmenthelp.com/free-samples/a-literature-review-on-accounting-software-packages-structure.


MyAssignmenthelp.com possesses 3000+ highly skilled cheap essay writers, who respond to students' popular search 'can someone do my essay at a cheap rate online'. They evaluate student's requirements and fulfill them perfectly. Hence, students don't need to waste their time in searching, 'who will write my essay at cheap rate'. They can straight convey their requirements and have the paper written by highly qualified experts.

Latest Management Samples

BUS106 Marketing Principles For Designing And Production Of Boats

Download : 0 | Pages : 6

Answer: Introduction OzCo Boats is a family-owned boat building industry based in Coffs Harbour, situated in New South Wales has been operating since 1961. It builds high quality and luxury boats that are made from traditional material. In the current scenario of technological developments, they have to embrace innovative technologies to compete with its competitors and needs to transform its traditional methods of production. If it is contin...

Read More arrow

MBA502 Professional Workshop For Self Awareness And Work Performance

Download : 0 | Pages : 7
  • Course Code: MBA502
  • University: Kaplan Business School
  • Country: United States

Answer: Part one  Chosen topic- Self awareness (From workshop week 2) Activity name Description   Time needed   Expected Outcomes   Things to consider (instructions)   Expected barriers   1. Adjective game  This activity is about giving an adjective to own self and to others and then to see whether self given adjectives and the adjectives chosen by others ...

Read More arrow

BUSN20017 Communication In Business For Email And Employment Letter

Download : 0 | Pages : 9
  • Course Code: BUSN20017
  • University: Central Queensland University
  • Country: Australia

Answer: Introduction: Communication is used for the information transformation between different sources. It has different types such as verbal, non-verbal. There are many things to communicate for some purpose. Professionalism is require a better communication for fulfill the basic requirements in business. Business communication is playing a key role in a life of professional person for their professional work.     This essa...

Read More arrow

ACC202 Fair Value Accounting For Financial Assets And Economies

Download : 0 | Pages : 7

Answer: Fair Value Accounting Mark to Market or Fair value accounting shows the current price or the potential of the asset in the market. Assessment of fair value accounting is one to reflect economic reality in the corporate environment. The fair value shows the potential price in which the asset can be bought or sold in respect of the cash flows or the economic benefits flowing from the asset (Goh et al. 2015). The cons and pros of ap...

Read More arrow

BZ100 Introduction To Business And Management

Download : 0 | Pages : 4
  • Course Code: BZ100
  • University: Victoria University
  • Country: Australia

Answer: Learning from case study I was able to learn with the help of the case study that Telstra which is a provider of the mobile phones along with broadband internet focuses on strategies that help in protecting the community. The knowledge was gathered through the case study that getting involved with the local communities can help an organization in surviving within the competitive environment. The fostering of the inclusive communities ...

Read More arrow
Next
watch

Save Time & improve Grades

Just share your requirements and get customized solutions on time.

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

1,249,346

Orders

4.9/5

Overall Rating

5,068

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 4/5

3076 Order Completed

99% Response Time

Emily Wei

Doctor of Philosophy (Ph.D) in Civil Engineering

Singapore, Singapore

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 4/5

248 Order Completed

100% Response Time

Lloyd Bernabe

MSc in Accounting

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

647 Order Completed

98% Response Time

Adlina Han

Masters in Marketing with Specialization in Branding

Singapore, Singapore

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2115 Order Completed

97% Response Time

Kimberley Chen

MPA in Accounting

Singapore, Singapore

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

I hope I get good mark! I hope I get good mark!I hope I get good mark!I hope I get good mark!I hope I get good mark!I hope I get good mark!

flag

User Id: 392150 - 08 Apr 2020

Australia

student rating student rating student rating student rating student rating

HANDED IN ON TIME THOUGH GAVE A VERY SHORT TIME TO DO SO. THE WORK WAS WELL DONE TOO!!

flag

User Id: 194216 - 08 Apr 2020

Australia

student rating student rating student rating student rating student rating

Always impecable work. I super reccoment this service to anyone. The quality of work and agile delivery are the high points.

flag

User Id: 396689 - 08 Apr 2020

Australia

student rating student rating student rating student rating student rating

this was an excellent assignment I cant understand how the assignments can differ in presentation, is it that some writers are trained and some are not.

flag

User Id: 315260 - 08 Apr 2020

Australia

student rating student rating student rating student rating student rating
callback request mobile
Have any Query?