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Internet of Things (IoT) has disrupted the role of Big Data in business environments of multiple industries through the proliferation of highly granular and actionable information. As discussed in cla
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Internet of Things (IoT) has disrupted the role of Big Data in business environments of multiple industries through the proliferation of highly granular and actionable information. As discussed in class and demonstrated in the tutorial, there’s huge potential for diverse applications. The third assignment aims to explore the role of Internet of Things within an industry of your choice through research and review of relevant resources. You are required to identify such an industry, conduct a comprehensive literature search on the implications of IoT, collate and analyse your finding...Solution Preview:
Introduction
IoT (Internet of Things) can be described as the interconnection of the things in the physical world
(including or having sensors within) and the Internet. These things are connected to the internet either
with wires or wireless devices/connections. The things or devices are liable to collect data from the
physical world around us, using the sensors and network connectivity within and then spread or share the
data over the internet
This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.
This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.
