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Question 8 Information relating to Francesca's Art Deco furniture store is presented below: Francesca's Art Deco Francesca owns an art deco furniture store in Brunswick. The shop sources, refurbishes, and sells secondhand art deco furniture. Thachan lan harraidhen nranarhisain hinaan that in her inanine art dann for The shop also has a rapidly growing property staging business that involves loaning art deco furniture to people selling their homes through real-estate agents. Francesca's operations manager, Leilo, manages this side of the business; and he keeps careful record of each loaned and returned item. Before a home seller can loan furniture, they have to first register with the shop. For each loan, a $1,000 deposit is charged. Assuming the furniture is returned in its original condition, and the customer pays the full loan fee, the deposit is refunded. Francesca is constantly searching antique shops, flea markets, Gumtree and eBay for beautiful antique furniture items at a great price. When she comes across such items, she first searches her catalogue to check whether she already has it in the shop or out on loan. And if so, what quantity of the item she has, what condition it is in, and what price she has previously paid for it. Based on this information, and on the beauty / rarity/ demand for the particular item, she decides whether to buy the item or not, and what price to offer. Francesca recently set up a website where owners of great art deco furniture can enter details of their furniture if they would consider selling it. The website has a form that captures essential information about a furniture item (e.g.furniture type, era, photo, condition). A software friend of her's helped Francesca build an artificial intelligence pricing algorithm and incorporate it into the website. The algorithm analyses the captured furniture information from furniture owners, determines whether the furniture is worth buying leg. based on online popularity, existing stock levels, demand and past selling price of similar items). The algorithm then compares it to the cost of similar items Francesca has previously purchased, or that are being sold on particular internet websites, and automatically makes the furniture owner a purchase offer price. If the algorithm cannot work out an offer price (e.g. no reliable information available to base the decision on), an email is automatically generated and sent to Francesca so she can manually enter an offer price. If the furniture owner agrees to the purchase offer price, the website generates a purchase order, which is displayed on the screen and also emailed to the customer. The customer then has 2 weeks to get the furniture item to the shop, or the purchase offer is volded. On delivery of the furniture item to the shop, the customer will be handed a cheque, or the cheque can be posted to them if they deliver the furniture via a courier company. Required: (a) Prepare a table of entities and activities for Francesca's Art Deco and a context diagram based on your table. (4 marks) (b) Identify the different roles of accountants in the accounting information systems development lifecycle. Contrast these roles with the roles of accountants in the development lifecycle non accounting information systems. (4 marks) (c) How do digital technology advancements and digital business transformation impact the role of accountants? Identify 3 opportunities and threats for accountants. (4 marks) The shop also has a rapidly growing property staging business that involves loaning art deco furniture to people selling their homes through real-estate agents. Francesca's operations manager, Leilo, manages this side of the business; and he keeps careful record of each loaned and returned item. Before a home seller can loan furniture, they have to first register with the shop. For each loan, a $1,000 deposit is charged. Assuming the furniture is returned in its original condition, and the customer pays the full loan fee, the deposit is refunded. Francesca is constantly searching antique shops, flea markets, Gumtree and eBay for beautiful antique furniture items at a great price. When she comes across such items, she first searches her catalogue to check whether she already has it in the shop or out on loan. And if so, what quantity of the item she has, what condition it is in, and what price she has previously paid for it. Based on this information, and on the beauty / rarity / demand for the particular item, she decides whether to buy the item or not, and what price to offer. Francesca recently set up a website where owners of great art deco furniture can enter details of their furniture if they would consider selling it. The website has a form that captures essential information about a furniture item (e.g. furniture type, era, photo, condition). A software friend of her's helped Francesca build an artificial intelligence pricing algorithm and incorporate it into the website. The algorithm analyses the captured furniture information from furniture owners, determines whether the furniture is worth buying (e.g. based on online popularity, existing stock levels, demand and past selling price of similar items). The algorithm then compares it to the cost of similar items Francesca has previously purchased, or that are being sold on particular internet websites, and automatically makes the furniture owner a purchase offer price. If the algorithm cannot work out an offer price le.g. no reliable information available to base the decision on), an email is automatically generated and sent to Francesca so she can manually enter an offer price. If the furniture owner agrees to the purchase offer price, the website generates a purchase order, which is displayed on the screen and also emailed to the customer. The customer then has 2 weeks to get the furniture item to the shop, or the purchase offer is voided. On delivery of the furniture item to the shop, the customer will be handed a cheque, or the cheque can be posted to them if they deliver the furniture via a courier company. Required: (a) Prepare a table of entities and activities for Francesca's Art Deco and a context diagram based on your table. (4 marks) (b) Identify the different roles of accountants in the accounting information systems development lifecycle. Contrast these roles with the roles of accountants in the development lifecycle non accounting information systems. (4 marks) (c) How do digital technology advancements and digital business transformation impact the role of accountants? Identify 3 opportunities and threats for accountants. (4 marks) Question 8 Information relating to Francesca's Art Deco furniture store is presented below: Francesca's Art Deco Francesca owns an art deco furniture store in Brunswick. The shop sources, refurbishes, and sells secondhand art deco furniture. Thachan lan harraidhen nranarhisain hinaan that in her inanine art dann for The shop also has a rapidly growing property staging business that involves loaning art deco furniture to people selling their homes through real-estate agents. Francesca's operations manager, Leilo, manages this side of the business; and he keeps careful record of each loaned and returned item. Before a home seller can loan furniture, they have to first register with the shop. For each loan, a $1,000 deposit is charged. Assuming the furniture is returned in its original condition, and the customer pays the full loan fee, the deposit is refunded. Francesca is constantly searching antique shops, flea markets, Gumtree and eBay for beautiful antique furniture items at a great price. When she comes across such items, she first searches her catalogue to check whether she already has it in the shop or out on loan. And if so, what quantity of the item she has, what condition it is in, and what price she has previously paid for it. Based on this information, and on the beauty / rarity/ demand for the particular item, she decides whether to buy the item or not, and what price to offer. Francesca recently set up a website where owners of great art deco furniture can enter details of their furniture if they would consider selling it. The website has a form that captures essential information about a furniture item (e.g.furniture type, era, photo, condition). A software friend of her's helped Francesca build an artificial intelligence pricing algorithm and incorporate it into the website. The algorithm analyses the captured furniture information from furniture owners, determines whether the furniture is worth buying leg. based on online popularity, existing stock levels, demand and past selling price of similar items). The algorithm then compares it to the cost of similar items Francesca has previously purchased, or that are being sold on particular internet websites, and automatically makes the furniture owner a purchase offer price. If the algorithm cannot work out an offer price (e.g. no reliable information available to base the decision on), an email is automatically generated and sent to Francesca so she can manually enter an offer price. If the furniture owner agrees to the purchase offer price, the website generates a purchase order, which is displayed on the screen and also emailed to the customer. The customer then has 2 weeks to get the furniture item to the shop, or the purchase offer is volded. On delivery of the furniture item to the shop, the customer will be handed a cheque, or the cheque can be posted to them if they deliver the furniture via a courier company. Required: (a) Prepare a table of entities and activities for Francesca's Art Deco and a context diagram based on your table. (4 marks) (b) Identify the different roles of accountants in the accounting information systems development lifecycle. Contrast these roles with the roles of accountants in the development lifecycle non accounting information systems. (4 marks) (c) How do digital technology advancements and digital business transformation impact the role of accountants? Identify 3 opportunities and threats for accountants. (4 marks) The shop also has a rapidly growing property staging business that involves loaning art deco furniture to people selling their homes through real-estate agents. Francesca's operations manager, Leilo, manages this side of the business; and he keeps careful record of each loaned and returned item. Before a home seller can loan furniture, they have to first register with the shop. For each loan, a $1,000 deposit is charged. Assuming the furniture is returned in its original condition, and the customer pays the full loan fee, the deposit is refunded. Francesca is constantly searching antique shops, flea markets, Gumtree and eBay for beautiful antique furniture items at a great price. When she comes across such items, she first searches her catalogue to check whether she already has it in the shop or out on loan. And if so, what quantity of the item she has, what condition it is in, and what price she has previously paid for it. Based on this information, and on the beauty / rarity / demand for the particular item, she decides whether to buy the item or not, and what price to offer. Francesca recently set up a website where owners of great art deco furniture can enter details of their furniture if they would consider selling it. The website has a form that captures essential information about a furniture item (e.g. furniture type, era, photo, condition). A software friend of her's helped Francesca build an artificial intelligence pricing algorithm and incorporate it into the website. The algorithm analyses the captured furniture information from furniture owners, determines whether the furniture is worth buying (e.g. based on online popularity, existing stock levels, demand and past selling price of similar items). The algorithm then compares it to the cost of similar items Francesca has previously purchased, or that are being sold on particular internet websites, and automatically makes the furniture owner a purchase offer price. If the algorithm cannot work out an offer price le.g. no reliable information available to base the decision on), an email is automatically generated and sent to Francesca so she can manually enter an offer price. If the furniture owner agrees to the purchase offer price, the website generates a purchase order, which is displayed on the screen and also emailed to the customer. The customer then has 2 weeks to get the furniture item to the shop, or the purchase offer is voided. On delivery of the furniture item to the shop, the customer will be handed a cheque, or the cheque can be posted to them if they deliver the furniture via a courier company. Required: (a) Prepare a table of entities and activities for Francesca's Art Deco and a context diagram based on your table. (4 marks) (b) Identify the different roles of accountants in the accounting information systems development lifecycle. Contrast these roles with the roles of accountants in the development lifecycle non accounting information systems. (4 marks) (c) How do digital technology advancements and digital business transformation impact the role of accountants? Identify 3 opportunities and threats for accountants. (4 marks)
