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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). Moreover, the key features of the system will stay the same but some of these features will be upgraded. In addition, upgrading the accounting system will include new core technology, added benefits, and prove to be more cost effective in the ...view middle of the document...

The Forecasting and Replenishment System will predict inventory requirements, forecast supply demands, and coordinate with third party vendors when inventory needs to be ordered. Last, the Knowledge Management System will make certain all information is shared across all systems within Kudler Fine Foods so each location knows how much inventory is available and needed.
Benefits
Implementing a new accounting system will benefit Kudler Fine Foods because computerized accounting information systems are faster and more efficient in processing data. In addition, accounting software reduces the potential risk of human error when entering data. Furthermore, accounting systems are much more user friendly and allows the information to be available immediately. Software also eliminates having the finance and accounting department to file away countless amounts of paper and having to set aside extra storage room for those files. Another benefit of an updated accounting system is to allow the finance and accounting department to track, monitor, and adjust expenses accordingly based on incoming revenue.
Costs
Implementing a new accounting information system will prove to be cost effective and save the company money in the long term. Accounting software allows the company to use the...

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