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HA2042 Accounting Information Systems Assessment 2: Individual Assignment

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Unit Title Accounting Information SystemsAssessment Type Assessment 2: Individual AssignmentAssessment Title System Analysis and SelectionPurpose of theassessment (withULO Mapping)Students are required to:• Understand and explain the place of an accounting information systemin the context of the organisational structure and operating practices(ULO 2),• Identify, analyse and compare different types of accountinginformation systems (ULO 3), and• Use different methodologies to evaluate various accountinginformation systems (ULO 4).Weight 30% of the total assessments.Total Marks 30 ...

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Unit Title Accounting Information SystemsAssessment Type Assessment 2: Individual AssignmentAssessment Title System Analysis and SelectionPurpose of theassessment (withULO Mapping)Students are required to:• Understand and explain the place of an accounting information systemin the context of the organisational structure and operating practices(ULO 2),• Identify, analyse and compare different types of accountinginformation systems (ULO 3), and• Use different methodologies to evaluate various accountinginformation systems (ULO 4).Weight 30% of the total assessments.Total Marks 30 Marks.Word limit No more than 2500 words.Due Date The written report is due in Week 9, dated 18th September 2020, on Friday at11.59 pm.SubmissionGuidelines• All work must be submitted on Blackboard by the due date along with acompleted Assignment Cover Page.• The assignment must be in MS Word format, double spacing, 12-pt Arialfont and 2 cm margins on all four sides of your page with appropriatesection headings and page numbers.• Reference sources must be cited in the text of the report and listedappropriately at the end in a reference list using Harvard referencing style.• Include a minimum of ten (10) references, at least five (5) from peerreviewed journal relevant to the unit. HA2042 T2 2020 - Assessment 2: Individual Assignment 2Assignment DetailsBackgroundYou are working in an accounting/management consultancy firm. Your firm is focusing on differentaspects of the accounting information systems. One of your firm’s clients is currently evaluating itsaccounting system, and the Chief Financial Officer (CFO) of your client thinks that they needed toinvest in cloud-based accounting software to support the growth of the business.RequiredYou are required to prepare a report to evaluate and recommend a cloud-based accounting softwarefor an Australian ASX-listed company of your choice (your firm’s client).1 The report should include thefollowing components:1. Background• Describe your client and its business activities.• Briefly describe the basic business activities involved in the revenue and expenditure cyclesof the selected company.• And identify the weak internal controls in these business activities. Further, identify the risksassociated with these weak controls.2. Systems requirements• Outline the software features and functionalities that your client should consider to supportits business activities.3. Software selection• Visit the websites of at least two (2) accounting software package vendors (e.g. SAP, MYOB,Xero, etc.) and provide a brief description of each vendor and its products.• Compare and contrast the features/functionalities of two cloud-based accounting softwarepackages offered by accounting software package vendors.• Identify the most suitable vendor and accounting software package for your client andexplain why it is the best option.Assignment StructureThe report should include the following components.1. Holmes Institute Assignment Cover Sheet2. Executive SummaryThe executive summary should be concise and not involve too much detail. It should makecommentary on the main points only and follow the sequence of the report. Write the ExecutiveSummary after the report is completed, and once you have an overview of the whole text.3. Contents PageThis needs to show a logical listing of all the sub-headings of the report’s contents. Note this isexcluded from the total word count.1 Alternatively, you can select any company listed on the stock exchange of your home country. HA2042 T2 2020 - Assessment 2: Individual Assignment 34. IntroductionTypically, the introduction is a short paragraph which includes background, scope and the main pointsraised in the order of importance. There should be a brief conclusion statement at the end of theintroduction.5. Main Body Paragraphs with Numbered Sub-headingsThis section contains the detailed information which elaborates on the main points raised in theintroduction. Each paragraph should begin with an exact topic sentence, then supporting sentenceswith facts and evidence obtained from research and finish with a concluding sentence at the end.6. ConclusionThis section contains a logical and coherent evaluation based on a thorough and objective assessmentof the research performed.7. AppendicesThis section includes any additional explanatory information which is supplementary and/or graphicalto help communicate the main ideas made in the report. Refer to the appendices in the main bodyparagraphs, as and where appropriate. (Note this is excluded from the total word count.)Note: The report should be grounded on relevant literature, and all references must be citedappropriately and included in the reference list.

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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.

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