Kudler Accounting System Paper
Kudler Accounting System
The accounting system is a crucial part of the business operations systems. The current accounting systems, while comprehensive, are lacking some key features that could increase benefits and reduce losses. The accounting information systems are used to gather financial data and provide information for internal and external decisions. These decisions include marketing, purchasing, payroll, investments, sales, and accounts, both payable and receivable. The purpose of a new accounting information system is to take advantage of new key features and core technologies that will help to keep the company agile in its decision making and better prepared to compete in today 's market and economy. The current system is modular in design and made to be scalable so the additions and updates can be made so that a new accounting system could incorporate and build on the existing system.
Key Features
The key features for the purposed accounting information system include integrating the accounting systems with the rest of the enterprise systems, auditing software, budgeting software, integrated accounting and finance software, the use of XBRL programming language for filing reports, ERP (Enterprise Resource Planning), SCM (Supply Chain Management), CPFR (Collaborative Planning, Forecasting and Replenishment), CRM (Customer Relationship Management) and, KM (Knowledge Management). Key features would also include financial planning and budgeting, financial and economic forecasting, as well as integrated accounting and business software. Industry specific software would be used tie in expenditures to program for accomplishment. IT systems will also make use of auditing to help track fraud and other harmful expenditures. Financial ratio analysis will become more accurate as they can be completed faster and with more information. Profitability analysis and cost control will be able to function at optimum performance levels with constant and additional data
The accounting system is a crucial part of the business operations systems. The current accounting systems, while comprehensive, are lacking some key features that could increase benefits and reduce losses. The accounting information systems are used to gather financial data and provide information for internal and external decisions. These decisions include marketing, purchasing, payroll, investments, sales, and accounts, both payable and receivable. The purpose of a new accounting information system is to take advantage of new key features and core technologies that will help to keep the company agile in its decision making and better prepared to compete in today 's market and economy. The current system is modular in design and made to be scalable so the additions and updates can be made so that a new accounting system could incorporate and build on the existing system.
Key Features
The key features for the purposed accounting information system include integrating the accounting systems with the rest of the enterprise systems, auditing software, budgeting software, integrated accounting and finance software, the use of XBRL programming language for filing reports, ERP (Enterprise Resource Planning), SCM (Supply Chain Management), CPFR (Collaborative Planning, Forecasting and Replenishment), CRM (Customer Relationship Management) and, KM (Knowledge Management). Key features would also include financial planning and budgeting, financial and economic forecasting, as well as integrated accounting and business software. Industry specific software would be used tie in expenditures to program for accomplishment. IT systems will also make use of auditing to help track fraud and other harmful expenditures. Financial ratio analysis will become more accurate as they can be completed faster and with more information. Profitability analysis and cost control will be able to function at optimum performance levels with constant and additional data
References: Axia College of University of Phoenix. (2012). Information Technology for Management Retrieved January 08, 2012, from Axia College, Week Three reading, BSA/310 - Business Systems Course Web site. Axia College of University of Phoenix. (2012). Core Concepts of Accounting Retrieved January 08, 2012, from Axia College, Week Three reading, BSA/310 - Business Systems Course Web site.