Question
Section I (Overview of the Accounting System): Provide a general overview of the accounting system that you are evaluating. Make sure the overview provides the
Section I (Overview of the Accounting System):Provide a general overview of the accounting system that you are evaluating. Make sure the overview provides the reader with a general understanding of the application, including the projected purchase price and any special hardware and software requirements. Finally discuss the ease of use of this system for accountants and non-accountants. You should include why you selected the application.
Section II (Review of Revenue Activities):Describe how the system selected handles processing & recording accounting transactions related to revenue-related activities. You should provide at least one detailed example of how one would record a specific accounting transaction/ business activity. Your summary should be in general terms and not in "how one does this in the system."
Section III (Review of Expenditure Activities):Describe how the system selected handles processing & recording accounting transactions related to expenditure-related activities. You should provide at least one detailed example of how one would record a specific accounting transaction/ business activity. Conclude with a summary.
Section IV (Review of Reporting Activities):Describe how the system selected handles financial reporting activities such as financial statements and posting journal entries. Provide examples.
Section V (Review of Other Accounting Activities):Describe how the system selected handles processing & recording accounting transactions related to other activities. You should provide at least one detailed example of how one would record a specific accounting transaction/ business activity. Your summary should be in general terms and not in "how one does this in the system."
Section VI (Accounting System's Strengths & Weaknesses):In this section, you will identify and discuss at least two strengths and two weaknesses with the system. Also, you will identify at least one technology advancement that this system lacks. Examples of technology advances includes but not limited to (a) digital signatures; (b) single sign-on and bio-metrics; (c) bloc chain; and (d) data analytics.
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