management info system, accounting homework help

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COLLEGE OF BANKING AND FINANCIAL STUDIES DEPARTMENT OF PROFESSIONAL STUDIES Assignment front sheet Assignment - 1 Qualification Unit number and title Pearson BTEC Level 5 HND Diploma in Business HND-A&F2: Management information System Semester Batch III Spring 2016-17 Student name Assessor name Ms. Priya Gopal Student No. Internal Verifier (IV) name Dr Omer Ali Ibrahim Date issued Completion date 26th March 2017 25th April 2017 Assignment title Identifying information needs within different functional areas and using Accounting Information System Learning Outcome LO1 Learning outcome Analyse information needs within different functional areas Using LO3 Accounting information systems to produce management Information Assessment Criteria Submitted on In this assessment you will have the opportunity to present evidence that shows you are able to: Task Evidence no. (Page no) 1.1 Identify input output and processing requirement of functional areas. 1 1.2 Ascertain the relationship between different functional areas of an organisation. 2 3.1 3.2 3.3 Understand Installation process of Accounting Information system available in the market. Use an Accounting Information System to generate valid, accurate and useful information for a given problem Evaluate alternative methods of solving the problem 3 4 5 Learner declaration I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student signature: Date: In addition to the above PASS criteria, this assignment gives you the opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades Grade Descriptor M1 Identify and apply strategies to find appropriate solutions M2 Select / design and apply appropriate methods / techniques Indicative characteristic/s Contextualisation To achieve M1, you will make effective judgements in identifying the type of Effective judgements have been leger accounts based on the transaction details given in (Task 4). You need to record all transactions correctly and show in detail how each transaction can made. be stored by using Tally.ERP 9. You will have to use appropriate methods to record the business transactions using Tally.ERP 9 (Task 3) A range of methods and To achieve M2, you will have used a range of methods and techniques to techniques have been applied explore the functional areas and needs to discuss the information flow Appropriate learning methods/techniques have been applied between the functional areas specific to the organisation selected. Use a range of sources to present the information. (Task 2). The appropriate structure and approach has been used To achieve M3, you will have used appropriate structure and approach in presenting the core four functional areas specific to the organisation selected. You need to present the information in logical sequence (Task 1). To achieve M3, you need to demonstrate the use of advanced financial features in Ms Excel (task 5) D1 Use critical reflection to evaluate own work and justify valid conclusions Conclusions have been arrived at through synthesis of ideas and have been justified To achieve D1, you will have to write conclusions based on the reports generated from Tally.ERP 9(Task 4) D2 Take responsibility for managing and organising activities Activities have been managed To achieve D2, you will have to manage all the activities effectively in Tally.ERP 9(Task 4) Effective thinking has taken place in unfamiliar contexts. To achieve D3, you have to demonstrate effective /convergent thinking by identifying the advanced features of Ms Excel and evaluating them (Task 5) M3 Present and communicate appropriate findings D3 Demonstrate convergent /lateral / creative thinking Assignment Brief Purpose of this assignment Learner will gain an understanding of the information requirements with data processing needs in an organization. Learner will get an opportunity to get hands-on-training of Accounting Information and general purpose software to resolve real world reporting issues. Case Study InterContinental Muscat(ICM) Located on beach front and with a view of the Hajjar Mountains, this five-star resort is located in the heart of the city's residential, government and diplomatic quarter. The hotel's Palm Beach Club offers two floodlit tennis courts, a 25-metre olympic size pool, a leisure pool, a fully equipped fitness center, sauna,jacuzzi and easy access to the beach. Local sites of interest include the Grand Mosque and Amouage Perfume Factory. www.intercontinental.com/Muscat Task 1 – LO1 - Assessment Criteria 1.1 (M3): Identify functional areas in the selected organisation (ICM) and analyse inputs, process, and output requirements for minimum four functional areas’ processes. To achieve pass you must; • • • Provide a brief introduction to the organisation and its functional areas Identify the core functional areas specific to the organisation. Identify the input, process and output requirements for the functional areas selected. To achieve M3, Choose core processes of four functional areas, arrange all tasks related to the chosen processes in logical sequence use technical language accurately to describe the tasks. Use structured methods of information presentation. Task 2 – LO1 - Assessment Criteria 1.2 (M2, D3): Ascertain the relationship between different functional areas of the selected organisation. To achieve pass you must; • Ascertain the relationships between the functional areas of the selected organisation(ICM) in task 1 by using flow diagram To achieve M2, Select at least 2 tasks related to each functional area (Total 8 tasks) and discuss flow of information among the functional areas to conduct those tasks. Use a range of sources of information. To achieve D3, Select complex tasks, show comprehensive understanding in information flow, and make appropriate diagrams to present the flow of information, provide references. Effective thinking has shown in flow of information. Task 3 – LO3 - Assessment Criteria 3.1 (M1) Understand Installation process of Accounting Information system available in the market. Assume you have started your own shop at Ruwi, Muscat in the month of March to sell the computers’ components. To keep track of the inventory and the financial transactions of your business, you have decided to use Tally.ERP 9. For this purpose you need to perform the following tasks: To achieve pass you must; a) Write hardware and software requirements for Tally ERP 9 b) Prepare document which contains screen shots of installation process reflecting your understanding of all necessary steps involved in the installation of Tally. c) Setup a company under your name to record the business transactions. Make sure your company complies with Oman statutory regulations To achieve M1, make effective judgement on the use of appropriate hardware/software to show all necessary steps involved in the above mentioned tasks and provide appropriate description of each step Task 4 – LO3 - Assessment Criteria 3.2 (M1,D1,D2): Use an Accounting Information System to generate valid, accurate and useful information for a given problem. To achieve pass you must; a. Create the necessary Ledger accounts by using Tally ERP 9 and record the following transactions in Tally.ERP9. While recording the transaction take screen print of each transaction and paste them in MSWord document for evidence. Note: In the following transactions I. S1, S2, S3 and S4 represent the sundry creditors of your company, in place of them write names of the computer suppliers/dealers exist in the market near your residence and while creating the ledger account for them, provide full address and other details required to store in Tally.ERP 9. II. C1,C2, and C3 represent the sundry debtors of your company, in place of them write names of your three friends who are not studying in your class and while creating the ledger accounts for them provide the full detail required to store in Tally.ERP 9. S.No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 b. Transaction On March 1,2017: You have invested R.O 85000 capital in the business On March 3,2017: Bought furniture for cash R.O 6500 On March 4,2017: Purchased 450 CPUs from S1 at R.O 120 per unit on credit On March 5,2017: Purchased 260 Monitors from S2 at R.O 50 each on credit On March 6,2017: Purchased 180 Keyboards from S3 at R.O 7.500 each on credit On March 7,2017: Purchased 200 mouse from S4 at R.O 1.5 each on credit On March 8,2017: Sold 65 CPUs to C1 at R.O 350 each On March 9,2017: Sold 20 CPUs to C2 @ 340 each On March 10,2017: 18 CPUs returned to S1 On March 11,2017: R.O 5200 Cash Received from C1 On March 12,2017: R.O 5600 Cash Received from C2 On March 13,2017: Sold 6 CPUs to C3 @ 390 each On March 14,2017: Sold 14 CPUs to C1 at R.O 355 each On March 15,2017: Sold 6 CPUs to C2 @ 362 each On March 16,2017: R.O 600 Cash Received from C1 On March 17,2017: 4 Monitors returned to S2 On March 18,2017: Sold 2 CPUs to C3 @ 270 each On March 18,2017: R.O 355 Cash Received from C1 On March 18,2017: R.O 190 Cash Received from C2 On March 19,2016: R.O 550 Cash Paid to S1 On March 19,2017: R.O 700 Cash Paid to S2 On March 19,2017: 3 CPUs returned by C2 On March 25,2017: R.O 600 Cash Received from C3 On March 27,2017: R.O 190 Electricity bill paid After recording all the transactions take print of the Day Book, Balance Sheet, Profit and Loss and the Trial Balance and analyze the information shown in the reports (Suggested 600-900 Words) To achieve M1, record all transactions correctly in appropriate sequence and shown each step in your assignment. D1: Write conclusions to prove the accuracy of Day book, Balance sheet, Profit and Loss and Trial Balance reports. D2: Demonstrate all activities have been managed well . Task 5 – LO3 - Assessment Criteria 3.3 (M3, D3): Evaluate alternative methods of solving the problem To achieve pass ; MS Excel is being used commonly in managing account, inventory, payroll etc. Evaluate at least three features of MS Excel as an alternative method which can help in managing financial matters. To achieve M3, describe three advanced features of MS Excel, demonstrate the use of those features effectively to deal with financial matters, provide diagrams with appropriate details. To achieve D3, provide suitable examples with valid comments. Effective thinking has demonstrated in evaluating the features. Evidence checklist Summary of evidence required by student Task 1 Identify input, process and output requirements for different functional areas for the selected the organisation. Task 2 Determine the relationship between different functional areas with specific to the organisation. Task 3 Understand Installation process of Accounting Information system Tally ERP 9 Task 4 Use Tally ERP 9 to record the transactions and generate reports. Task 5 Evaluate the use of advanced financial features of Ms Excel. Evidence presented Guidance notes: 1. Use standard document formats and structures. 2. Word process the documents. 3. Use 12 point Arial or Times New Roman script. 4. Provide a list of references and use the Harvard referencing system. 5. Complete the title page and sign the statement of authenticity. 6. Upload the entire assignment in MS word format only on Turnitin. 7. Staple only once to keep the pages of your work together. 8. Late submission, late work will only be marked on the next occasion the unit is taught. 9. Submit the work along with the Turnitin report to the respective assessors in their offices. 10. Collect the assignment submission form duly signed by the assessor and the learner. 11. Grades are subject to External Verification. 12. Assignment length should not exceed 2500 words. Class ID: Pass word: Achievement Summary Qualification Unit Number and title Pearson BTEC Level 5 HND Diploma in Business Assessor name Ms. Priya Gopal HND-A&F2: Management information System IV name Dr Omer Ali Ibrahim Student Number Criteria Reference Student name To achieve the criteria the evidence must show that the student is able to: Achieved? (tick) LO1 1.1 Identify input output and processing requirement of functional areas. 1.2 Ascertain the relationship between different functional areas of an organisation. LO3 3.1 3.2 Understand Installation process of Accounting Information system available in the market. Use an Accounting Information System to generate valid, accurate and useful information for a given problem 3.3 Evaluate alternative methods of solving the problem Higher Grade achievements (where applicable) Grade descriptor M1: Identify and apply strategies to find appropriate solutions Achieved? (tick) Grade descriptor D1: Use critical reflection to evaluate own work and justify valid conclusions M2: Select/design and apply appropriate methods/techniques D2: Take managing activities M3: Present and appropriate findings D3: Demonstrate convergent/lateral /creative thinking communicate responsibility for and organising Achieved? (tick) Assignment Feedback Formative Feedback: Assessor to Student Action Plan Summative feedback Feedback: Student to Assessor Assessor Signature Date IV Signature Date Student Signature Date ...
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Dmitry
School: UIUC

Attached.

Running Head: ACCOUNTING INFORMATION AND MANAGEMENT ACCOUNTING

Accounting Information and Management Accounting
Student’s Name
Date

ACCOUNTING INFORMATION AND MANAGEMENT ACCOUNTING

2

Contents
Task-1 ............................................................................................................................................................ 3
Identify Input Output and Processing requirement of the Functional Area............................................. 3
Task-2 ............................................................................................................................................................ 4
Ascertain the Relationship among different Functional Area .................................................................. 4
Task-3 ............................................................................................................................................................ 5
Understand Installation Process of Accounting Information.................................................................... 5
Task-4 ............................................................................................................................................................ 6
Usage of Accounting Information System ................................................................................................ 6
Task-5 ............................................................................................................................................................ 9
Evaluation of Alternative Methods ........................................................................................................... 9

Running Head: ACCOUNTING INFORMATION AND MANAGEMENT ACCOUNTING

Task-1
Identify Input Output and Processing requirement of the Functional Area
Accounting is the name of recording and reporting the day to day transactions posses by
an organization. Accounting is known as the most profound and widely effective tool that used
by the companies to access and retrieving the data accordingly (Govindaraj, 2011). Till the
period of 80s, the most common accounting technique that used by the companies was “General
Ledger”, in which transactions place in connection with the double entry system. Accounting
was initiated through hands in the commencement in which all the transactions and entry posted
in a proper ledger accounts via hands. There are certain developments are found in the
commencement of the 20th century. High level of computing, data modeling and
telecommunication have increased the stance of accounting software within the industry.
According to Griffin and Wright, (2015), high burden of the paper work and inefficiency
of the recording management are some of the major gaps that compelled the companies to use
the accounting software that not only reduces the cost of the companies, but also increases the
level of efficiency of the companies in reporting and recording the data. As per the Manirath,
(2013), the presentation of the financial data is equally important and effective as the recording
of the data, and accounting software has the authority to develop and record the data accordingly
for the presentation of the data. Australian corporate industry has a long history, and it currently
flying to the top of the world. Most of the Australian corporations were using the traditional and
old method of accounting in the past, but now with the changing of the technological efficiency,
all the Australian companies have changed their focus and scenario towards the utilization of the
accounting based software. Accounting software has seen many ups and downs till the current

Running Head: ACCOUNTING INFORMATION AND MANAGEMENT ACCOUNTING

scenario from the past.Taking timely and efficient decisions are very significant for the sake of
an organisation. The organisations which are able to manage their well-being in the market with
efficiency are the one that can sustain their position in the market. There are certain line of
information deems highly significant for the companies (Bonner 1999). Among different line of
information, the accounting information is one of them. Accounting Information works as a
Decision-Facilitator that used to influence the decision in an efficient manner. Accountants are
known as the most important facilitators and workers for the sake of an organisation. Apart from
recording and interpret...

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Anonymous
Thanks, good work

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