Letter of Transmittal
To: Heads of Department, Abascus Accounting Private Limited
From: Farhan Badruddin , Accounts Manager
Date: 18 April 2014
Subject: MYOB cloud Accounting
Attached please find the report you asked me to complete. The subject is MYOB cloud Accounting option/ implementation for our workplace.
In this report, I consider the nature of MYOB cloud accounting also known as online cloud accounting, its pros and cons, its cost and implications.
I recommend a trial program to test the MYOB cloud accounting for our firm.
Online database and research articles were helpful in providing necessary data and ideas for this report.
Thanks for the opportunity to work on this project. I found it most challenging and hope that you find the report useful.
If you want to discuss any of the content from the report please contact me.
Table of Contents
Executive Summary 1
Executive Summary
This report is based on the main features of implementing MYOB Cloud Accounting in Abascus Accounting Private Limited. The primary business of our firm is accounting and according to the small size of our firm we need to be updated with the recent software. New software can provide many possibilities including flexibility and easy accessibility from anywhere. In the meeting, staffs attitudes to cloud accounting were mixed. So, to come to one conclusion I have prepared this report.
This report contains detail information of the advantages and disadvantage of Myob Cloud Accounting and followed by problem definition, historical background and detailed analysis and reviews by different companies. The report has been end up with the conclusion and recommendation for the software.
It is concluded ...
... middle of paper ...
...nsure the timely access to accounting software, we should make sure that our internet connectivity and speed is upto the software requirement.
Conclusion
On reflection on the above advantages and problems, and on the basis of positive feedback from clients and existing Cloud Accounting users, I am confident about the suitability of Cloud Accounting for our firm. I think it is the perfect time for our firm to move to cloud accounting as many businesses have already move to it.
One session training should be arranged by MYOB and IT department to learn the software usage and solve the maximum query at one point in time. https://lbwca.com.au/index.php?option=com_content&view=article&id=523:cloud-accounting&catid=136:2013-august&Itemid=493 http://www.cpaireland.ie/your-business/business-resource/technology/how-cloud-computing-can-benefit-accountants#sthash.6zz4g6J7.dpuf
Management accounting in organisation is very important for decision-making and to make the business more efficient and therefore increasing its profits. Is the process of preparing accounts that can help managers to make day-to-day and short-term decisions, by providing them with accurate and timely key financial and statistical information...
The information for this report was gathered from several Web sites and the main points of this report are discussed as follows:
As technology progresses it can truly change how a business operates in terms of accounting and financial reporting. Online software has become a widely used system by many businesses around the globe. Financial reporting is essential to any business especially when seeking for potential investors or stakeholders. The reason being is because a financial report contains all of the records of how a business is performing financial wise. Likewise there are purposes of securities regulations and the main one is to disclose any schemes.
The Methodology used to gather information for this paper was found through various sources. The sources used are all verifiable and established informational resources including (but not limited to) the following; course textbooks, books, journals, and online databases.
This report will be divided into six parts beginning with an introduction and ending with a conclusion.
The information collated in this report was collected from a variety of secondary sources including websites, books, documentaries, statistics and academic journals. A report format was selected to ensure that information concerning the guiding questions were successfully answered. While surveys were conducted information collected was discredited due to the reliability of the information collected.
Lastly, I want to thank you for giving me the opportunity to work on this research paper. I have learned many things about the field I am going into and it will help me prepare for the future.
The nature of business has changed and evaluation. ‘New techniques have been developed and existing one has adapted to try to ensure that management accounting retains its relevance’ (Atrill, P. el at 2013, pg. 12). Then, what is management accounting? ‘The application of professional skills in the preparation and presentation of accounting information in such a way as to assist management in the formulation of policies and in the planning and control of the operations of the undertaking’ (Tyagi, C. el at 2003, pg.12). The management accounting is very significant thing in the operation which this might consider as tools that allows administrators to manage their enterprise, make internal stakeholder understand more and cooperate
recent study in the topic was performed by Craig Anderson, director of the center for the study
Research methods: The study used a systematic search using the means highlighted by the Preferred Reporting Unit for Systematic Meta-Analyses and Reviews. Several methods of collection of data and analysis have been used in consulting public records on the issue.
Accounting: From Clay Tablets to the Cloud, How Technology has Changed the Accounting Profession Every business professional knows that accounting is the language of business. The language of business has especially been transformed in the last 38 years due to the almost constant change in technology and technology. Accounting professionals have become the interpreters for the language of business, a language that all business professionals must understand to be successful. in today’s highly competitive market.
I am interested in conducting research and teaching in managerial accounting, auditing and assurance services and accounting information systems. In particular, I am interested in exploring the role of accounting information systems in decision making, internal control, and auditing. In order to gain an appreciation of these and related issues, it is essential for me to have a strong grounding accounting, accounting information systems, information technology, managerial accounting, as well as gain a general economic and management perspective.
session I decided on the topic on which I would be doing my report. I
For this research, I used primary and secondary sources to carry out my report for this information.
An Accounting Information System (AIS) can be defined as software that helps accountants to collect data and process it to create information ((Bagranoff, Simkin and Norman 2010)