Minor Cars Ltd., a small company selling second-hand cars, has just been taken over by Major Vehicles plc, which runs a chain of garages. One implication is that the existing accounting systems of Minor Cars Ltd. must be amended to be consistent with those of Major Vehicles plc, to ensure efficiency of data exchange and processing. Both companies also intend to use the opportunity to take full advantage of the potential of e-accounting.

Outline the main stages you would go through to ensure that the change in accounting systems at Minor Cars Ltd. is carried out efficiently and without data loss. Identify the potential of e-accounting for these companies and suggest how it might help to make both companies more efficient.