Part B, 10 marks

Benjamin and Megan have owned and managed a range of businesses and have experience in reviewing and using the financial reports you have generated. Due to time pressures, they are paying your firm to produce a monthly report discussing the performance of their product lines (inventory items) for their first month of operation. To address this requirement, you are required to prepare an Executive Summary to be included with the July 2021 reports. Your executive summary should address the following:

1. Explain the main advantages of using an Accounting Information System such as Xero for a start-up business such as B&M.