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    Facebook- Pros and Cons of Social Media

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    Write aCompany Report on Facebook Include the following sections: 1) Introduce the industry you are focusing on 2) One aspect the company excels at 3) Another aspect the company excels at 4)one aspect that the company is criticized for...

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    Social media is one of the leading industries in the world. Social media refers to networking sites that help to communicate online with people around the world. It enables users for internet activities like e-commerce, business networks, blogging, sharing reviews, video conferencing and sharing of media files faster than before (Anon., 2019). Around 3 billion people use social media in worldwide according to global digital report 2018 (Chaffey, 23 Nov 2018). At present some of the Trending social media networking sites are Facebook, Twitter, Google Plus andLinkedIn, etc.The social media industry has developed a great scope for business and marketing. Social media has become a lucrative industry in the world. It provides various benefits like business development, marketing, news and information (Anon., n.d.).

    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.

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