Analysis Of Accounting Software: Acquisition Method, Control Issues, And Market Size

Current Organisation Structure

The accounting software can be considered as the software application that is able to handle the accounts related operations of an enterprise. The software is responsible for carrying out the tasks such as maintaining payroll, ledger financing and many more. Within the enterprises, this particular software is considered as the accounting information system.

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Within the study, the analysis of accounting software has been done on the basis of Sage MicrOpay in the William Clarke College. The organizational structure is analysed within the study for getting more information regarding the chosen organisation. 

Inefficient Education: The organisational structure is making the education process of the system low. There not much efficiency and effectiveness in the education associated operations. The teachers are provided very low power in the structure. Therefore, they cannot invent and apply new ways of teaching.

Student Admission Delay: As the amount of administrative and employees in the admission and receptionist department are low, it takes a lot of time to admit the student. From checking and then selecting the students takes a lot of time and often this process is full of error.

Query Resolve: The students and their guardians have a lot of questions. Resolving the queries within effective time is not possible as no answer to the sensitive questions are provided without the permission of head of college.

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The first rule of system acquisition method is to get a brief idea about the requiems of the business and future objectives of the organization. Based on these information, the services required from an accounting software system is determined.

Deciding the merchant and administration is the following period of the obtaining procedure. Among the different merchants like MYOB, Xero and numerous others, the establishment chose Sage. Foundation actualized an ERP that will hold the Sage MicrOpay. The choice procedure experienced different checking component like whether the product will have the capacity to determine or make the procedure proficient and if the merchant association, Sage, is equipped for giving administration at whatever point required.

The following stage is check. Inside this stage, the administration of William Clarke College has given a few acknowledgment criteria. In view of those acknowledgment criteria, it will establish that the product is equipped for guaranteeing and giving security prerequisites. Single Acceptance Criteria are that the product will not give access to data of higher representatives to the lower category staff.

In the final phase, based on everything that the client and vendor organisation have found, some terms of agreements will be created. After agreeing on genera terms, both the organisation’s management executives will sign the service level agreement.

Several control issues remain in the accounting software. These issues are as following.

  1. The contestant risk of being hacked, being attacked by viruses or losing information
  2. In terms of input stage, the invisibility of data inputted is a huge control issue. Quite often entries, not based on source documents, are directly entered into the computer. For example, a terminal operator can make an entry directly into the computer based on telephone messages.
  3. Unauthorized access leads to the fraud of allowing illegal or unapproved tasks. This can be initiated by the use of a computer device.
  4. Within the processing stage, a big issues is computer equipment lacks judgment. In a manual framework, individuals can utilize their judgment and can understand that something isn’t right. Then again, PCs as machines have no judgment of their own and here and there may do peculiar things if advised to do them. The answer for this issue is to have judgment incorporated with the PC framework through modified controls.
  5. Another control issue is the input control issue. The accounting software regularly is not ready to relegate a particular Transaction Code to each exchange. As a rule, when an exchange happens in the framework, the bookkeeping programming doles out a TC or exchange code to that exchange for different security issues. Without this truncation code, the framework may need in giving excellent approval. This issue is some way or another interrelated with the Check Digit control. Along these lines the bookkeeping programming is losing its ability of checking the accuracy of the information. This prompts the likelihood of money financial fraud.

The development and adoption of the software package is divided into five stages. The first two stages are for creating the base of the project. The next two phases are the main phases where the system is developed and at the last stage the organisation adopts the software.

The first stage is planning phase. Within this phase, the complete plan for the project is done. The project manger contacts with the stakeholder for collecting data regarding the project or an business analyst is hired for gathering the business requirements. Then those requirements are converted into the system functionalities. In order to do so, a system analysis is appointed in the project. The project manager creates the schedule of the project and estimates the cost of the project. The project sponsor and other stakeholders approve all these generated information and a report is submitted. This report holding the entire project planning related information will be provided to every stakeholder.

Operational Issues Occurring Regarding Structure

In the next phase, design phase, the project system analyst and other team members designs the various parts of the system. The application engineer and the system analyst works on designing the programming sections or units of the system. The database designer creates a blueprint of the database. The system analyst creates a framework of the software architecture. All the designs are then approved by the project manager and the development team then starts working.

In the development phase, the coders starts creating the parts of the application and the database developer initiates implementation of database. The coding section is complete, the application engineer connects the various units of the application together. Then the connection between the database and software is created. After all the thing is done, the developed application is sent for testing.

In the testing phase, the developed application is tested until it becomes error free. Then at the final stage, the system is deployed within the environment of the organisation.

Students burned through 46.7 for each penny of aggregate use, or $6.4 billion, on training, however they likewise burn through cash on different things like sustenance and settlement. Given the aggregate vast esteem included of $12.3 billion, this proposes each dollar spent on instruction by a universal student has the stream on impact of $1.91 in economy wide esteem included, construct in light of their consumption on different things. Global student consumption in Australia adds to work in the Australian economy. It is assessed to have created a little more than 122,000 FTE positions in the Australian economy in 2007-08, with 33,482 of these being in the training segment.

Add up to student related use produces an aggregate of 126,240 FTE positions. At the state level, NSW accumulates the biggest impart of significant worth added to $4.8 billion, trailed by Victoria at just underneath $4.0 billion. A current review by Tourism Research Australia proposes that for each two formal students, one companion or relative went by Australia amid the students’ stay in Australia. This class of explorer is assessed to contribute $314.7 million to the Australia economy in esteem included, involving work salary of $179.7 million and gross operating surplus or GOS of $135.0 million.

Illawarra Institute: This college is one of the best in the New South Wales. The competitive advantage of this college is its local population and popularity among them (Illawarra.tafensw.edu.au 2017).

Northern Sydney Institute: This college is another milestone in the names of the colleges. This college is one of the best in promotion among the international students (Tafensw.edu.au 2017).

Support to Decision Making: The system holds some issues in spreading the information among the employees. This results in lack of information availability to the administrators while taking a decision.

Security: The architecture of the software holds various gaps that allow it to be vulnerable to the cyber attacks. The system does not provide any kind of protection against the severe cyber attacks like DoS, DDoS, internal theft and many more.

Maintaining: The system is installed within the existing system of organization.  If the maintenance team wants to resolve the issues of the accounting software, the accounting associated activities get completely stopped. This results in huge operational issues in terms of business of William Clarke College.

System Acquisition Method

Conclusion:

From the above study it can concluded that the accounting software is a crucial part of the business of William Clarke College. In order to create a good organisational structure, an organisation has to make sure that information flow occurs in every direction. This information flow is very crucial for the performance of the accounting software. The software is capable of performing the back processes of the accounting associated business activities. William Clarke College has potential of ginning competitive advantage as of the current market size. However, in order to that, the college needs to be concentrate on promotion in national and international region. 

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