Environmental Accounting and Supply Chain Management
Discuss about the Environmental Accounting and Supply Chain Management.
The development of technology has improved the business operations of small and large business organizations. The advancement in internet and applications helps the organizations to provide quality services to their customers. In the given case study, B Bakery wants to make an investment in accounting software in order to take their business in next level. The company has recently lost some of the key accounts as a result of unable to manufacture some of its competitive price (Wolf, 2008). Therefore, the main objective of implementing accounting software is to manage all its key accounts. The accounting information system plays a significant role in the management of the accounts and systematic functioning of the company. The internal control system of the company can be improved with the help of accounting information system. The information provided by accounting software will help the management department to take financial decisions and minimizing operational issues within the organization (Stittle and Wearing, 2008). The implementation of accounting information system is very much important for an organization to manage information and data appropriately.
The functions that are carried out by baker consist of making delicious pastries and the breads which people can enjoy with the enhancement of the Bakery shop. The working of a baker is to prepare the appropriate food products with considering the taste and preference regarding the satisfaction of the customer and thereby the enjoyment of the people can be gained in the faces of the people. The task is to mix the ingredients at the appropriate levels so that the perfect recipes can be gained. It thereby also helps in preparing the baked foods in a correct manner (Bhimani and Dai, 2008). It thereby also helps in the appropriate mixing of the product with considering the vales of the baked goods.
The process that is formed helps in the appropriate formation of the business environment with thereby helps in creating correct operational functions with considering the values with the fruit measurement of the goods and the products. The operations help in considering the values that depicts the appropriate formation of the strategies and thereby it also helps in designing of planning and the control process (Burritt, 2011). The performance measurement with the improvement of the performance helps in creating the values that seemed to be requisite for the consideration of the appropriate enhancement of the process in order to achieve the goals. The above steps help in determining the efficiency of the organisation and thereby the appropriate enhancement of the process is being used.
In part of the operation, the strategy, planning, performance measurement, improvement and design with control becomes the vital parts of the organisation and thereby it helps the organisation B.Bakery which when implemented provides the organisation a new range of the activities that are requisite for making the strategies. It thereby also helps in considering the following outputs that seems to be achieved on implementing the operation strategies that are primary and the secondary output (Droms and Wright, 2010). The primary output consists of the stakeholder’s values and the other products where the secondary value helps in depicting the waste depleted resources. The technological advancement is also required for the advancement of the production process and thereby it also helps in creating great values with constituting the segregated taste. The formation helps in the adoption of numerically optimised production plan with thereby it also considers the sdifting of level of production in the upward level and thereby it also considers the appropriate management of the planning regarding this industry.
In the provided case study, the various production techniques are used with considering the values for producing various products in the gathering the virtual production line with considering the values for the production. It also helps in considering the management of the bakery production line and it also helps in the creation of the proposed production line with considering the simulation of the inputs and the outputs with the process of optimising the solutions (Fischer, Taylor and Cheng, 2010). The analysis of the data helps considering the views that are seemed o be requisite with the consideration of the views and thereby the consideration of the data is processed with the creation of the proposed production line for carrying out appropriate production.
Developing business requirements
According to the analysis of the accounting information system of the undertaken company B. Bakery, it is observed that the company has to improve its data collection, processing of the collected data and evaluating the data in order to improve the efficiency of the accounting information system within the organization. Therefore, the company must provide adequate focus on the data processing activities. It is found that the company has lost few of the key accounting information due to this the company cannot be able to produce some important product s at competitive market price (Zhong, 2013). Therefore, it has become essentiality for the company to apply efficient accounting software that helps the organization to further growth and development. The accomplishment of an efficient accounting information system helps in collecting and recording the necessary accounting information as well as it also helps in generating requisite reports and information to the managers and other stakeholders so that helps in taking effective business decisions(Pipkin, 2000). The fundamental functions of the accounting information system are following:
- An efficient accounting information system helps in collecting and storing the financial data from the business transactions record, source documents, along with the data posting from the journals to the ledgers.
- It also generates useful reports for the management of the company and from the reports the managers collect the useful information that help them in making important decisions on behalf of the organization.
- It ensures that the data are properly recorded and processed in an efficient manner.
The accounting information system basically software that enables to identify the information, recording and tracking the important information in a systematic way so that help in valuing, processing, publishing and managing the financial data in order to secure that the data are recorded and stored accurately (Seaman, 2011). The accounting information systems help in managing the information of the financial statement of an organization. Thus, in this way accounting information system play vital role in the decision making process of the internal as well as external stakeholder of the company.
The accounting information system enables the accountant to record the business transactions more efficiently without losing any important data (Wisse, 2001). Thus, with an efficient accounting information system the company can attain its business objectives as it helps in proper collection and recoding of the financial data as well as generating important reports to the mangers that helps in making important business decision. The implementation of an efficient accounting information system can eliminate the risks of errors, as well as the risk of omission and loss of the financial data (Stanga and Woodroof, 2011). The fundamental elements that help an organization in achieving its objectives are as following;
- Determine the staffs, managers and the business analyst and accountant s, who will use the system.
- Determine the instructions along with the procedures via those the data are recorded, analyzed as well as processed.
- The software adds computer programs, which helps in processing the data.
- Infrastructure of the information system inclusive of the hardware and software must be determined.
The undertaken company B. Bakery will be able to attain its objectives by an efficient accounting information system through the basic principles of the accounting information system;
Security: The accessibility of the accounting information system must be limited.
Confidentiality: It helps in restricting unauthorized access of the data so maintain the confidentiality
Privacy: The collection, usage and reveal the information on the consumers in an appropriate way so maintain privacy.
Integrity: The timely completion as well as proper processing of the data with proper authorization maintains integrity.
Availability: It helps to accomplish contractual as well as operational obligations.
The accounting information system helps the company in recording and processing the data into the software. It also help reducing the risks of errors as well as omission in the financial data and provide accuracy.
The system requirements help in considering the values which helps in depicting the condition of the organisation. It thereby also helps in creating the appropriate functions that seems to be implemented during the construction of various objectives. The software features that are seemed to be implemented in the firm B.Bakery which is considered for depicting the achievement of the business are as follows:
Appropriate consideration of the features takes place with depicting the values and thereby the achievement can be made in an appropriate manner. It thereby also helps in creating the total outsourcing plan with creating the achievement process for the consideration of the expansion process which seems to be requisite for the appropriate creation of the objectives. This helps in the creation of the instrumental cases with thereby considering the total outsourcing of the increments with thereby it also helps in the creation of appropriate objectives with providing the client service programs (Gupta, 2008). These programs are arranges for the construction of relationship between the client and the service providers. Henceforth, it creates appropriate relationship with conducting the programs in between the client and the appropriate creation of outsourcing and the incremental outsourcing seems to be taking place in the organisation.
Service level agreements are requisite for the construction of the outsourcing vendors and thereby the programs are created in order to achieve benefit with creating the profits in the organisation. it also helps in creating the values that enhances the appropriate program management with delivering the services appropriate on time to the clients. The construction of the other process helps in constituting the values that seems to be requisite for the creation of effectiveness, client satisfaction and the volumes of the work (Hall, 2007). It also helps in developing the awareness factors with the sensitivity and the availability with the inclusion of system down time. It thereby also helps in enhancing the risk factors that are indicated during the enhancement of the process.
Mobilizing system helps in constructing the system which can be appropriately implemented with creating the knowledge acquisition programs and thereby the inclusion of people, infrastructure and the process (Leon and Leon, 2005). The consideration of the appropriate values with gaining flexibility requirements helps in the enhancement of the process of knowledge acquisition programs and thereby the appropriate implementation of the variables is focused.
Appropriate integration of the services helps in the construction of the values that depicts the creation of the objectives and thereby the thoroughness and the rigour attitude are gained by implementing the services provided. It thereby also helps in constructing the services in an appropriate manner. The quality improvement with the implementation of the configuration programs seems to be very much essential for brining change management in the system with thereby helps in constructing the values required for implementing the software system (Pilone and Miles, 2008). The requirement helps in the enhancement of the system with providing appropriate values to the system and also helps indicating a path for the enhancement of the objectives in order to mitigate the risk factors.
The communication system helps in creating flexibility with the inclusion of scalability for the enhancement of the system requirements and thereby the testimonials regarding the system are followed with creating appropriateness in the environment of the framework depicted by the system. The intellectual property is also considered which provides protection to the software and the proper creation of the shares are built with gaining protection for the system. It thereby helps in the appropriate construction of the shares and also helps in implementing the changes in the required system (Sheldon, 2005).
The accounting software packages that are selected for the usage with the consideration of the case study depict the appropriate accounting software that are the SAP, ERP and MYOB. It also helps in the improvement of the security with the enhancement of the factors that are seemed to be responsible and thereby the appropriate enhancement in the security, inventory, POS, billing, payroll and time tracking are seemed to be a part of the organisation. The system helps in maintaining stability in the system and thereby the considerations are made with thereby also helps in constructing the appropriate system calculation. It also helps in indicating the factors which helps in the up gradation, account management, maintenance, securitization of the information and data which are se4emed to be related to the continuation of the accounting process related to the company. It thereby also helps in the arrangement of the appropriate systems with continuing proper payment systems.
The SAP software helps in the consideration of the financial management and the mitigation process that seems to be essential for the accounting management with monitoring the profit and the cost management of the system. The MYOB software helps in continuation of the online banking process. The SRP software helps in the creation of the centralised data with thereby creating appropriate information for the system for securitising the current environment of the company (Curtis, 2007).
The development of information technologies and internet over last few decades has encouraged the business activities and managing their systems. Accounting information system plays a significant role in the management of key accounts and ensuring operational efficiency of the company. The small medium enterprises are mainly dependent on customized accounting software as because it is considered as effective accounting system of recording all the transactions (Spiceland, 2009). The customized accounting software is easy to use and helps to manage complex business operations. The accounting software helps to record financial transactions and performs functions such as preparation of general, ledger, payroll, trail balance, income statement, balance sheet and cash flow statement. The users of accounting software will be able to generate sales order, purchase order, financial report and production report. It also allows the users to export and import important accounting data and information (Kieso, Weygandt and Warfield, 2010). The management of accounts is very much important for an organization as it shows the financial performance and actual value of the company. It also enables the management department to take significant decisions in the development of the organization and managing all its operations. The accounting information system also enables the users to transfer data over internet and business network. In market, there are many accounting software packages are available that helps to manage accounts and among them MYOB is widely used by the organizations and consider as most accepted software to manage accounts (Holton, 2012). The MYOB accounting software is based on the analysis of cost and scalability, ease of use, account receivable, account payable, payroll, inventory , ledger, journal, income statement , balance sheet, cash flow statement and integration with all other software. It is designed to record key accounts, makes work easier and also helps to enter financial transactions such as sales order, purchase, cheques and customer details in the system. Most of the small and medium sized business organizations use MYOB to manage their accounts (Fischer, Taylor and Cheng, 2010). The users will also be able to manage inventories, cash flows and generating financial report at the end of the accounting year. The main characteristics of MYOB are as follows:
- It is an integrated accounting and business management solution
- It helps to gather information and real time data
- All the data, reports and information can be exported to Microsoft excel (Elliott and Elliott, 2008).
- It helps to manage accounts and business operations
The small and medium sized business organizations use MYOB to record, store, process and manage accounting information data. SAP is an enterprise resource planning software that is used by business organizations to integrate all multiple applications of different business areas. SAP enables the business organizations to adapt digitalized business models and creating competitive edge in the market (Burns, 2006). Therefore, it enables business organizations to improve their fiscal processes by managing accounting procedures and managing risks. The main characteristics of SAP are as follows:
- SAP facilitates user to prepare journal, ledger, sales order, purchase order, account receivable, account payable and financial report
- The customer data and sales process can be managed with the help of SAP
- The inventories are also managed of warehouses and also enables to track the movements of stock
- It also helps to integrate core accounting processes and core capabilities with treasury, supply chain and different applications
- It also supports financial reporting standards, different languages and multiple currencies.
It is an affordable and easy to use accounting system specifically designed for small and medium sized business organizations. It helps the organizations to manage financials, distribution and sales in an integrated system (Bragg, 2005).
MYOB would be the most suitable vendor software package that helps the business organizations to manage all their accounts. B.Bakery should implement MYOB accounting software to manage all its financial transactions. MYOB is cost effective and easy to use software that helps an organization to manage their operations and financial processes. B.Bakery can improve their financial recording processes as well as enhancing internal controls. Cloud computing allows the employees of the organization to work on their tasks from anywhere, anytime and using any device (Curtis, 2007). MYOB also automates manual accounting processes and methods that waste valuable money and time. MYOB synchronizes data and minimizes time consuming processes and operations by automating purchase orders, payroll, credit notes and many more. The financial reports that can be generated with the help of MYOB are profit and loss statement, balance sheet and cash flow statement that helps to manage, control and monitor the business operations. B.Bakery should adopt MYOB accounting software in order to manage all its financial transactions appropriately. Therefore, it allows the organizations to predict cash flow problems and growth periods that help the management to plan for future. The accuracy of information and data is essential in order to maintain an effective financial management system. MYOB automates manual processes that helps to minimize human errors and also helps to identify and remove double entries. The software also helps to present actual value of the company and achieving security as well as financial stability. Accounting fees, operating systems and hardware can exhaust quickly a solid budget (Stittle and Wearing, 2008). The cloud offering of MYOB reduces operational and financial expenditure. The cloud offering of MYOB eliminates the ongoing maintenance costs, backups and updates. Technical issues and server failure would not be the problem of the company. It also provides grade tools to the enterprises that help to reduce operational costs and expenditure on the assets giving wide opportunities to the organizations to enhance their productivity. B.Bakery would be able to manage all its financial transactions with the help of MYOB that helps in the development of the company. It enables accurate and fast invoices, purchase orders, sales orders, credit notes, payroll documents and printing statements. The financial report provides significant information regarding financial performance in the accounting period and helps the management to control and monitor the business operations (Hillier, 2010). The information that is produced to show the customers accounts overdue, profit and loss account, trial balance and balance sheet. The use of accounting software helps to reduce time minimizes cost and recording of accurate data. The shareholders are provided with accurate information regarding financial performance of the company in the current financial year. The automatic calculation system also reduces the risk of errors or omission as well as increases the operational efficiency of the organization. However, MYOB is considered as the most suitable accounting software that helps to record, manage and processes data in order to manage all its operations and showing accurate value of the company (Moles, 2011). The internal control system and business operations can be effectively managed with the help of MYOB. The users of MYOB will be able to record all the financial transaction of the organization as well as effectively managing all the operations.
Accounting information system one of the most pivotal system of the organization and provide hue contribution to the growth and development of the organizations by providing necessary financial information of the business organization, and with the help of these important information the management of the organization take vital business decision for the company. Therefore, the accounting information system plays a significant role for the business organization. A family owned business B. Bakery had been undertaken for this business report and the firm’s accounting information system has been analyzed throughout this particular report. The firm require more efficient as well as effective information system in order to enhance the efficiency of the business firm. Efficient strategies for the IT Governess of the business organization may help the organization to improve its business activities and performance(Yang, Liu and Shima, 2011). In this way the business firm can manage its business in more sophisticated manners. There are some issues within the accounting information system such fraudulent activities and hacking and in order to overcome these issues the organization has to implement effective solution that can protect the organization from the cyber criminals.
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