Great Deal! Get Instant $10 FREE in Account on First Order + 10% Cashback on Every Order Order Now

Please see the attachment below and follow as instructed. Thank you

1 answer below »
Please answer to all this discussion below regarding and. Make short jf necessary please please answer them in orders.
Acc 308 Discussions
I- The textbook discusses six elements of information technology intimately related to accounting systems. The relationship between them provides a more accurate representation of a company's financial information through their financial statements.
· Select three of the six elements and describe a firm, of your choice, that uses these elements.
· Next, explain why you chose this company.
II- Select a small business of your choice and explain how introducing an enterprise resource planning (ERP) system would benefit business operations. Be sure to connect the functionality of the ERP system with day-to-day operations necessary to sustain the business.
Acc 401
I- Per governing bodies such as FASB, there is a presumption that consolidated financial statements are more meaningful (such as providing the most relevant information) than separate financial statements for the end-users internally and externally. Take a position on whether you agree or disagree with this presumption for both user types. Provide support for your rationale.
II- You are the chief information officer (CIO) of a corporation with plans to complete the acquisition of a critical subsidiary this year. Your chief executive officer (CEO) has requested a presentation to the board of directors describing the methods available to account for the acquisition internally and the best plan for the company during the acquisition year. Please assess the value-added of each method identified in your presentation to the board and support your recommendation with examples.
ACC 306
I-A large part of accounting is conducting "what-if" analyses, which are similar to "eithe
or" situations. What if you need to buy a new car? What if you get a raise at work? In accounting, accountants can use Excel to perform a "what-if" analysis in a variety of ways.
· Discuss some ways accountants and business managers can use Excel to perform "what-if" analyses in their business or describe how you can use Excel to conduct a "what-if" analysis for your personal life.
II-You learned how to complete a bank reconciliation in Excel. You also learned how to import data into Excel and properly format a worksheet.
In your opinion:
· What are some of the benefits of using Excel to complete a bank reconciliation?
· How can using Excel to balance your personal bank account help you get a better handle on your finances? Justify your response.
Answered Same Day Apr 03, 2024

Solution

Atul answered on Apr 03 2024
4 Votes
Please answer to all this discussion below regarding and. Make short jf necessary please please answer them in orders.
Acc 308 Discussions
I- The textbook discusses six elements of information technology intimately related to accounting systems. The relationship between them provides a more accurate representation of a company's financial information through their financial statements.
· Select three of the six elements and describe a firm, of your choice, that uses these elements.
· Next, explain why you chose this company.
II- Select a small business of your choice and explain how introducing an enterprise resource planning (ERP) system would benefit business operations. Be sure to connect the functionality of the ERP system with day-to-day operations necessary to sustain the business.
Solution
1. Selected Elements: a. Database Management Systems (DBMS) b. Data Analytics c. E-commerce Platforms
2. Chosen Company: Amazon
3. Reasoning:
a. Database Management Systems (DBMS):
· Amazon utilizes sophisticated DBMS to manage its vast inventory, customer data, and transaction records. The company relies on databases to track product availability, shipping statuses, customer preferences, and historical sales data. This enables Amazon to efficiently handle millions of transactions daily while maintaining accuracy and reliability in its operations.
. Data Analytics:
· Data analytics is at the core of Amazon's business strategy. The company employs advanced analytics techniques to extract valuable insights from vast amounts of data. These insights help Amazon understand customer behavior, forecast demand, optimize pricing strategies, and personalize recommendations. By leveraging data analytics, Amazon continuously enhances its operational efficiency and customer experience.
c. E-commerce Platforms:
· Amazon's e-commerce platform is one of the most sophisticated and widely used in the world. The company's website and mobile applications serve as the primary channels for customers to
owse and purchase products. Amazon's e-commerce platform integrates seamlessly with its backend systems, including DBMS and data analytics tools, to provide a seamless shopping experience. Features such as one-click purchasing, personalized recommendations, and fast shipping options contribute to Amazon's success in the e-commerce industry.
II. Selected Small Business and ERP Benefits:
1. Selected Small Business: Local Retail Store
2. ERP Benefits:
· Streamlined Inventory Management: Implementing an ERP system would enable the local retail store to efficiently manage its inventory levels. The system would provide real-time visibility into stock levels, track sales trends, and automate reordering processes. This would help the store avoid stockouts and overstocking situations, leading to improved customer satisfaction and reduced ca
ying costs.
· Enhanced Sales Tracking: An ERP system would centralize sales data from various channels, including in-store purchases, online orders, and mobile transactions. This centralized database would enable the store to track sales performance in real-time, identify top-selling products, and analyze customer buying patterns. With better insights into sales trends, the store can optimize its product offerings, pricing strategies, and promotional campaigns to drive revenue growth.
· Improved Financial Reporting: By integrating accounting functionalities, an ERP system would streamline financial reporting processes for the local retail store. The system would automate tasks such as recording sales transactions, reconciling accounts, and generating financial statements. This would save time and reduce e
ors associated with manual data entry, ensuring accurate and timely financial reporting. Additionally, the store's management would have access to up-to-date financial insights, enabling informed decision-making and strategic planning.
Acc 401
I- Per governing bodies such as FASB, there...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here