Scenario Information

Your company, Swift Athletics is a publicly held, mid-sized manufacturer, with $20 million dollars in annual revenue. You produce high-end running shoes exclusively in the US. You are planning to sell your products internationally within the next two years. You operate in a lean environment, and your supplier monitors your raw materials needs, and shipments are made JIT.

Assume that you are the Chief Accounting Officer (CAO) for the company. The company is publicly held; therefore, it must follow all reporting requirements of the Securities and Exchange Commission (SEC).

The company is expanding rapidly and has outgrown its information system. You have been given the task of evaluating and recommending a viable accounting information system solution for the accounting and financial data. Your final proposal will be delivered to the Chief Executive Officer (CEO) and Chief Information Officer (CIO). You must be able to support your proposal with appropriate research.

1. Prepare a summary that identifies the departments listed above, a weakness or threat for each department, explanation of why the weakness exists, and the steps that you will implement in your new system to address the weakness issues. Note: An example of a weakness or threat in the general ledger and reporting system might be an unauthorized disclosure of financial statements. Controls to respond to this weakness or threat include access controls and encryption. You may wish to present this information in a table for your presentation

2. As part of the planning process for your new accounting information system, you need to prepare flowcharts. This graphic will present the flow of information through the accounting cycles. Prepare flowcharts for at least two business departments/functions for Swift. Each flowchart should be detailed, and have the right symbols for each process. Also, think your way through the processes from beginning to end. For example, how is sales revenue defined, such as when is it considered earned? The following are the business processes that you may elect to address:Please note that you will have two distinct flowcharts for this assignment. Be sure your flowcharts are professionally presented and clearly labeled.

• Sales
• Purchasing
• Production
• Payroll
• What are the steps you will take to justify the new information system initiative? What must be considered for Swift? How will you assess the financial implications? What is the impact on the AIS of globalization and a multinational business presence?
• How will appropriate and effective use of technology for managing the accounting and financial information flows and presentation be affected?