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Bright & Able, CPAs, (B&A) is a mid-sized CPA firm with six partners and about 60 full- time staff. B&A focuses on review and audit
Bright & Able, CPAs, (B&A) is a mid-sized CPA firm with six partners and about 60 full- time staff. B&A focuses on review and audit engagements and tax-compliance work. The firm utilizes an internally developed system that staff use to track their time for billing purposes. This system was developed 20 years ago by a long-term employee, who spends her time making minor updates. The founding partners, Don Bright and Sukaina Able, have determined that B&A needs new time-tracking software that offers more functionality for reporting purposes. Don and Sukaina are deciding whether B&A should develop a new time-tracking software internally, or outsource this function. If the system were to be outsourced, Don has suggested a system called AccounTrack, which is a cutting-edge, cloud-based time-tracking software for professional firms. B&A would initially purchase a five-year licence for each employee, paid monthly. Since the provider is based in Mexico, the licence fees are significantly lower than the cost of developing a system internally. The contract is non-cancellable during the initial five- year term and can be renewed if B&A is happy with the service. The developer would be responsible for keeping the software up-to-date. Required: To assist Don and Sukaina, provide
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