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Presentation/PPT
27/08/2022
Question:Competency
Assess accounting information systems.
Scenario Information
BeGood Baking Supply is a small bakery supply company formed as a closely held corporation. The company supplies raw baking materials, paper goods, and equipment to restaurants and bakeries in three states in the upper mid-west. Most of its business, however, is located in a large metropolitan area. BeGood wants to increase its presence in the region and serve five states. In fact, the owners of BeGood would like 75% of their business to come from throughout the region rather than the current metropolitan area. In order to do this, the owners understand they must diversify offerings and lines of business.
Currently, BeGood has a phone center where customer orders are taken; these orders are then sent to shipping where the order is filled in its large warehouse and shipped within four days. BeGood outsources its shipping to a local trucking company. Once the order ships all paperwork goes to the accounting department where it is entered into the accounting system. BeGood still uses the same accounting system it has used since the inception of the company. All aging of receivables and other analysis is done using Excel spreadsheets. Purchasing and tracking of inventory are done solely by the warehouse manager. Invoices for inventory purchasing are sent to the accounting department when goods are received.
The owners at BeGood are wondering how they can utilize an online presence and further automate its systems in order to facilitate its growth and diversify its business. The owners may also like to expand into the retail business.
You have been hired as a full-time staff accountant at BeGood Baking Supply and have been given the task of evaluating and recommending a viable accounting information system for the accounting and financial data of BeGood in order to facilitate expansion and diversification. As you begin your research, you realize that many departments are involved in the information system, and communication is key.
BeGood has grown over the years but the AIS has not kept up with that growth, and you believe there may be some internal control issues. Since cost of goods sold is the largest expense of the company, you decide to take a look at inventory control, ordering and receiving first. You have an “uneasy feeling” about the warehouse supervisor, Harold. The Receiving department consists of three employees, including Harold. The two receiving employees unload vendor trucks and stock the goods received. If goods are shorted on an order or defective goods are received, it is brought to light when filling customer orders or when customers complain about product received. After receiving, employees unload trucks and restock goods. The vendor invoice is held in a folder on Harold’s desk. Once per week, Harold takes the invoices to accounting for payment.
Requirements
As part of your analysis of the ordering and receiving process, prepare documentation of the following items and the research you find that would ultimately become part of a final presentation of a viable AIS system for management. NOTE: You will not be creating this presentation. These elements of research and documentation are part of the process that would lead up to that final presentation of information.
Documents Required:
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