This website uses cookies to ensure you have the best experience. Learn more

Accounting System Essay

578 words - 3 pages

Accounting System Paper

Kyle Davis
BSA/310
5/13/2013
William Zhang / Instructor

In the business world today, it is crucial to have some type of accounting system, a system that will coincide with all aspects of a business and can be integrated with all information systems. REMS which stands for Retail Enterprise Management System is a modular system that consists of a General ledger, Asset management and accounting, Accounts Payable, Bank Reconciliation and Point of Sale modules.

Kudler Fine Foods has will be hiring a firm (consulting) to help with the installation of this system. To be cost effective the Asset Management and Accounting module have not been purchased just as of yet. Reason being, all of their stores that they have are on long term leases therefore whatever remaining assets KFF has ...view middle of the document...

Balance Sheet, Cash Flow, Balance Sheets and Income Statement are just a few of the ledger modules that it has. With that in mind the module has what Kudler Fine Foods will need to provide its financial and budget reports for all stores.

The approximate budget to spend is $50,000 for the consulting firm; they will handle the installation and maintain the system once a year. With the implementation of the customer loyalty program the whole concept is to create new customers therefore creating more shopping from old customers as well as the new. Hand in hand this will bring more revenue to Kudler and the accounting department will.

Upgrading the system will help manage the anticipated growth of KFF customers both old and new. The allotted money $50,000 has already been spent on the first store with the intent of installing the RMS system in the other two stores. However there is a slight problem the system, which is that it moves a little slow for this company. KFF is steadily becoming an establishment that people are frequenting; the two reasons are its products and the loyalty program.

Once the other stores are put on this new system it may not benefit the company, the reason is the system will not keep up with all necessary data for all three locations. Combining the growth of employees and customers will make the workload increase significantly. Eventually a new system will need to put in, in order to keep up with the growth of the company.

Now a day’s companies have to look at the overall big picture when and the deciding factors when it comes to the accounting system. The new accounting system when be set up like the current one Kudler has and all modules will pay more attention to detail unlike the old system.

New technology provides for faster reporting and data auditing. So Kudler will benefit greatly one this implementation of the REMS system is in all three store locations. It will keep them more organized and detailed.

Other Papers Like Accounting System

Kudler Accounting System Essay

1004 words - 5 pages  Kudler Accounting System Student Name BSA/310 Date Professor Name Kudler Accounting System Kudler has invested in Smiths System Consulting to install a comprehensive Retail Enterprise Management System (REMS) to manage the finance and accounting departments. After review of the current system, there are six modules that need areas of improvement and additional subsystems needs to integrate if Kudler Fine Foods

Developing Kudler Accounting System Essay

957 words - 4 pages University of Phoenix Automated process of Accounting Information system Frances Young Gamal M. Mousa Islam Zayed Jimmy Johnson Ryan Michell Accounting Information system – ACC/542 06/21/2010 Anita Rodriguez, MA., CPA Automated process of Accounting Information system Abstract Now, Kudler Fine Foods has many processes include payroll, accounts payable and accounts receivable and inventory. Recently, Kudler Fine foods

6 Country Accounting System

3193 words - 13 pages , corporate managers must primary answer to banks and other financial institutions rather than shareholders.5. a strong bureaucratic control over business affairs and accounting. 6. Business culture a mixture of domestic and foreign.( German and US influential) | Regulation environment:1.china installed a highly centralized planned economy, reflecting Marxist principles and patterned after the system in the Soviet Union2.the state controlled the

Accounting Info System

552 words - 3 pages Chapter 1 ACCY 231 Spring Session 1. A set of two or more interrelated components that interact to achieve a goal is: a) A system b) An accounting information system c) Data d) Mandatory information 2. Facts that are collected, recorded, stored and processed by an information system a) Information b) Data c) Systems d) Mandatory information 3. Information is a) What happens when the data exceeds the amount the human mind can

Accounting Information System

956 words - 4 pages , Select Credit, Enter Amount for the Invoice, Check Tax code 4.2 Accounts Payable The Accounts Payable application component records and manages accounting data for all vendors. It is also an integral part of the purchasing system: Deliveries and invoices are managed according to vendors. The system automatically triggers postings in response to the operative transactions. In the same way, the system supplies the Cash Management

Accounting Information System

1004 words - 5 pages receivables if the return is within the credit period. All these records and documentations have to be submitted with the monthly inventory report to management. All the source documents mentioned above will be sequentially numbered for record tracking. Principal risks associated with the new sales and sales return system: The new sales and sales return system may be under the risk of accounting errors. Wrong number input, and

Accounting Information System

2332 words - 10 pages AUTOMATING PURCHASES PROCEDURES USING BATCH PROCESSING TECHNOLOGY * have similarities to that of manual procedures * principal difference is that the accounting/bookkeeping tasks are now automated. Data Processing Department: Step 1 * purchasing process begins in the data processing, where the inventory control function is performed. * when inventories are reduced by sales to customers or usage in production, the system determines if

Accounting Information System - 3626 words

3626 words - 15 pages THE CASE1 Several months ago, you started working at a large public accounting firm as an IT staff auditor. You are currently working on your first assignment, an ITGC review of the Foods Fantastic Company (FFC). FFC is a publicly traded, regional grocery store chain, headquartered in Mason, Maryland, and includes 50 stores located in the mid-Atlantic area. The centralized data center is in Mason. FFC relies on an integrated suite of

Kudler Fine Foods Accounting System

548 words - 3 pages ) and Bank Reconciliation. The Asset Management and Accounting module was not acquired. Auxiliary generators have been installed at each location and the corporate offices, due to the frequent power issues in Southern California, to ensure that the accounting and finance system is available 24 hours a day, 7 days a week. General Ledger Module A general ledger is a record that stores balance sheet and income statement transactions (Averkamp

Accounting System in a Company

2845 words - 12 pages Accounting System in a Company Almost all the countries in the world allow foreign companies to compete with domestic firms nowadays, which make the costs of spending in the international trade plummet over the past decades. However, global markets provide more potential for the competitive companies. In other words, the companies have to face more challenges. If they can’t win the game, they will vanish from the global market. It is not a

Accounting Information System - 901 words

901 words - 4 pages Tony Moss, president of Greater Queensland Bank, received an anonymous note in his mail stating that a bank employee was making bogus loans. Moss asked the bank’s internal auditors to investigate the transactions detailed in the note. The investigation led to James Guy, manager of a North Queensland branch office and a trusted 14-year employee who had once worked as one of the bank’s internal auditors. Guy was charged with embezzling $1.83

Related Essays

Accounting System Essay

685 words - 3 pages Kudler Fine Foods Accounting System Kudler Fine Foods is considering hiring a consulting firm to assist in the implementation and execution of a new accounting system. Although Kudler Fine Foods has been able to satisfy the organizations needs with the old accounting system, upper management has decided they have the budget to implement a new accounting system. The budget for the new accounting system is $50,000 (Apollo Group, Inc, 2011

Accounting System Bsa/310 Essay

835 words - 4 pages The Value of a New Accounting System The Value of a New Accounting System An appropriate accounting system is vital in the success of any business. Not all accounting systems are alike and choosing the one that works best for each business is an important factor to consider when deciding how best to handle accounting. The core attributes of an accounting system are not enough. This includes accounts payable, accounts receivable, billing

Accounting System Week Three Essay

1000 words - 4 pages Accounting System Rosemarie Blakley BSA/310 April 28, 2013 Anastasia Jakubow Accounting System Although Kudler Fine Foods currently has an accounting system that they are using that seems to be adequate, the goal in the future is for the organization to continue to grow, and along with this growth is going to come the need for a more comprehensive system that can support their growing changes. We all know that proper accounting practices

The Cp³ Accounting System Essay

543 words - 3 pages The CP³ Accounting System Sabra Warden HTT/230 January 14, 2016 Erik Thompson The CP³ accounting system is a management tool that has become increasingly popular with hotel management companies throughout the years. It consists of components such as a monthly commitment budget, a purchase order system, a daily payroll system, and a daily profit and loss statement