Accounting Software Example - 1303 Words

Table of Contents OBJECTIVES 3 BUSINESS INTRODUCTION 3 ACCOUNTING SOFTWARE 3 ADVANTAGES 4 COMMUNICATION 4 FINANCIAL MANAGEMENT 4 SALES MANAGEMENT 5 INVENTORY CONTROL (IC) 5 HUMAN RESOURCES (HR) 5 DISADVANATGES 5 ANALYSIS OF DATA 6 SUMMARY 6 Bibliography 7 OBJECTIVES In this assignment I will review the accounting software appropriate to the outlined hypothetical company. On the one hand, I will consider advantages and disadvantages of the software which are relevant to the proper management of the company. On the other hand I will demonstrate the relevant connection of the accounting software to the financial management of the company. BUSINESS INTRODUCTION Emfibia Limited is a medium size manufacturing†¦show more content†¦Sales management is connected with purchasing management and inventory control to provide better analysis of the data. The software supports controls of purchasing materials, orders, goods receipt and payment. INVENTORY CONTROL (IC) The inventory control in Emfibia Limited is another important area. The company has to have organised importation by having large numbers of inventory. Therefore, the company can start losing the capital. This is why they require appropriate analysis with stock valuation and the movement of the goods. Sage ERP X3 runs on similar principles to manual ones, but this software is more flexible and it is possible to receive the information in real time. Inventory Control is closely connected with the manufacturing management. The software uses Kanban method of Just-in-Time production. The information can be grouped by cost centres, price lists. The important tool is to forecast the future cost. When the company will prepare new production in six months time, the software can analyze the actual cost of the production. HUMAN RESOURCES (HR) When company has 240 employees it needs an efficient HR Management. Emfibia Limited provides a variety of salaries, contracts and benefits for the employees. Sage has all the important covered with applications necessary for Personnel Management, Benefit Management, Payroll Management, Employee Self Service, Health and Safety, WorkforceShow MoreRelatedWhat Is In I.T. (Information Technology) For Me? Enrolled1084 Words   |  5 Pagesmajor in accounting and a recent interest in a minor in information systems; my career plans are working with some of the systems accountants are using today. Which, consequently, could place my career in either an I.T. department for an accounting firm or I could be a private accountant. The I.T. I plan on covering in accounting is software, and the different categories and types of accounting software that accountants work on. Andy Walton, in his article â€Å"The Importance of Accounting Software† definesRead MoreEssay on Accounting Software1234 Words   |  5 Pageshuman history. The emerging of a new concept called Computerized Accounting Information System (CAIS) particularly, is one example of this â€Å"cutting-edge calculator’s† intervention on bookkeeping activities. As many companies tend to apply this new frame to treat their transaction recordings, many accounting software developers try to provide an advanced computer program as the main engine of the companies’ CAIS. Some of the softwares are declared that it does not need anymore accountant assistancesRead MoreAccounting And Payroll Application Software Packages Essay1494 Words   |  6 PagesThe accounting software, is a computer software that records and processes accounting transactions within practical components such as accounts payable, accounts receivable, payroll and trial balance. The software may be de veloped by the organization using it, may be purchased from a third party or may be a combination of both. Today’s packaged accounting software not only records financial transactions and produce accounting reports, but they include functionality for managerial decision makingRead MoreAccounting Software Bridge Gap For Small Businesses1607 Words   |  7 PagesAccounting Software Bridge Gap for Small Businesses Small Businesses face more challenges than large corporations, it is often difficult for small businesses to remain competitive in a constant changing economy. Many small businesses lack the capital, know how, and budgetary allocation that helps small businesses build and expand. Therefore, small businesses depend on accounting software to narrow the gap between large corporation and small businesses by reducing cost, boost efficiency, reduce manualRead MoreThe Effects of Technology on the Accounting Profession600 Words   |  3 PagesThe Effects of Technology on the Accounting Profession In today’s business society, the accounting technology whether it be software or hardware is a vital part of just about every major business. Many people overlook the importance of the role of accounting technology in business and in the accounting profession. The fact is technology such as accounting information systems can make or break a business. Utilization of Information Technology in the Retail Businesses (Wal-Mart) To succeed in theRead MoreEffects of Technology on the Accounting Profession1085 Words   |  5 PagesTechnology on the Accounting Profession University of Phoenix ACC/340 Accounting Information Systems Effects of Technology on the Accounting Profession Businesses have become more competitive, consumers are more informed, and technology has changed the way the world communicates. Information technology (IT) and the resulting ‘information age’ are continuously impacting every facet of accounting. (Bagranoff, Simkin, amp; Strand-Norman, 2006) This paper will examine how accounting information systemsRead MoreA Presentation Of Jena Mines1461 Words   |  6 Pagesenterprise resource planning (ERP) that processes and posts transactions in real time. It contains modules in the form of Financial Accounting (FI) and Controlling (CO), FI which is for external accounting and Controlling for internal managerial reporting. There has been a growing increase in using Enterprise Resource Planning (ERP) systems developed by, for example, SAP, Oracle, Baan, PeopleSoft and JD Edwards as a business information system platform for large organisations and also some smallRead MoreQuickbooks Accounting Software Essay1569 Words   |  7 Pagescountries. Accounting/Finance application systems like Peachtree, Net Suite and QuickBooks let you manage your business with a little or no experience. All three application systems allow the users to manage the companies capital including bookkeeping, inventory, non-inventory service items, sales orders, purchase orders, and reports. It allows the companies to keep tracking of the financial assets and at the same time have the information the accountant needs. Using the accounting/finance applicationRead MoreQuickbooks1616 Words   |  7 Pagescountries. Accounting/Finance application systems like Peachtree, Net Suite and QuickBooks let you manage your business with a little or no experience. All three application systems allow the users to manage the companies capital including bookkeeping, inventory, non-inventory service items, sales orders, purchase orders, and reports. It allows the companies to keep tracking of the financial assets and at the same time have the information the accountant needs. Using the accounting/finance applicationRead MoreAccounting Is The Process Of Identifying, Recording And Communicating Information807 Words   |  4 PagesAccounting is the process of identifying, recording and communicating information to interested users. Financial Statements, such as the balance sheets, income statements, etc. must follow GAAP or United Stated GAAP. GAAP or Generally Accepted Accounting Principles is a set of principles that gives accountants guidance when performing the accounting cycle. The accounting cycle is a lengthy process. The eight steps in the accounting cycle are as follows: identify the transactions, journalize the transactions

Essay on Business Research Methods, Part Ii - 1616 Words

Running Head: BUSINESS RESEARCH METHODS, PART II Business Research Methods, Part II University of Phoenix QNT/HC561: Applied Business in Research Statistics in Health Care Group ID: MBAY0ZATZ9 Erik Kirk, PhD August 22, 2011 Introduction Recently, Learning Team â€Å"A† was tasked with developing a research question arising from an organizational dilemma faced by the Physical Therapy Clinic. As a result of preliminary research analysis, the team determined constraints in clinical practice were having a negative impact on the therapist’s ability to fully meet patient needs. A proposal was submitted to organizational leadership that included recommendations to utilize a standard six-step research question hierarchy process. The†¦show more content†¦Patient was injured at work loading crates. Patient was reinjured knee falling on ice while shoveling snow. Mechanism of injury, patient reports decrease in mobility. Patient was injured during high school soccer game. 3) Has there been prior therapy for same condition? o Yes ïÆ' ¼ No ïÆ' ¼ Yes o No o Yes ïÆ' ¼ No 4) What does patient states overall health is currently? o Poor ïÆ' ¼ Good o Excellent ïÆ' ¼ Poor o Good o Excellent o Poor o Good ïÆ' ¼ Excellent 5) What is the patient’s social history/living environment? Lives with his wife and three children Widow and lives alone. Lives at home with parents. 6) What is the patient’s prior level of function? Works out occasionally Has no time to exercise. Trains daily with team during season and works out regularly during off season. 7) What is the patient’s current functional level? Have no limitations. Advance onset of arthritis present in both knees. Have no limitations. 8) Is the physical therapy clinic a provider within the patient’s insurance plan and will the therapy be covered? PPO plan that covers up to $1000 for physical therapy, however he also will be getting workers compensation. Medicare supplemental, with a doctor’s order medicare covers physical therapy and the supplemental insurance will cover the co-payments. PPO plan that covers up to $1000 for physical therapy 12) Did the patient have a doctor’s referral for the physical therapy? o Yes ïÆ' ¼ No ïÆ' ¼ Yes o No o No ïÆ' ¼ YesShow MoreRelatedQnt 561 Complete Class Essay963 Words   |  4 Pageshttp://homeworkonestop.com/qnt-561-complete-class Product Description QNT 561 (Applied Business Research and Statistics ) Week 1 Individual Week One Practice Problems Complete the following Week One Practice Problems in MyStatLab ®: †¢ Ch. 2 of Statistics for Business and Economics o 2.37, 2.38, 2.44, 2.46, 2.54, 2.64, 2.68, 2.79, 2.85, 2.89, 2.93, 2.94, 2.106, and 2.108 †¢ Ch. 4 of Statistics for Business and Economics o 4.1, 4.12, 4.13, 4.21, 4.79, 4.80, 4.81, 4.89, 4.91, 4.106, and 4.124 Read MoreThe Benefits Of Erp Systems For Small And Mid Size Organizations1160 Words   |  5 PagesBusiness Research Topic The objective of my research is to study the use of Information Technology and particularly ERP (Enterprise Resource Planning) system for small and mid-size organizations. 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In the these is years students take Statistical Quality Control, Ergonomics, Operation Research, Industrial Simulation, Production and planning inventory control, Manufacturing Information systems, Manufacturing processes Laboratory, Industrial Facilities Layout and DesignRead MoreModule Content And Teaching Program Essay1557 Words   |  7 Pagesproduction Ç€, the basic breeding methods and the limits (2 hr) †¢ The latest biotechnology options for crop improvement and production II, tissue culture (2 hr) †¢ The latest biotechnology options for crop improvement and production III, somatic hybridization (2 hr) †¢ The latest biotechnology options for crop improvement and production IV, genetic engineering I (2 hr) †¢ The latest biotechnology options for crop improvement and production IV, genetic engineering II (2 hr) †¢ The latest biotechnologyRead MoreDante1739 Words   |  7 PagesInternational University IU QUANTITATIVE METHODS FOR BUSINESS (FALL 2013) SAMPLE TEST MIDTERM EXAMINATION PART 01: MULTIPLE CHOICE QUESTIONS (20 POINTS) 1. (1 pt) Given the following two-person game, which strategy can be eliminated by use of dominance? Y1 Y2 13 0 X2 6 8 X3 12 14 a. X2 c. Y2 b. Y1 e. X1 d. X3 The following payoff table is using for next 6 questions. 2. (1 pt) What decision would an optimist make? a. Alternative 1 c. 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Factors Affecting Solubility Free Essays

string(174) " be written with all ions, or without the spectator ions \(the ion that don’t react, present on both sides of the reaction\), a format known as the net ionic equation\." There are three main factors that control solubility of a solute. (1) Temperature (2) Nature of solute or solvent (3) Pressure EFFECT OF TEMPERATURE Generally in many cases solubility increases with the rise in temperature and decreases with the fall of temperature but it is not necessary in all cases. However we must follow two behaviours: In endothermic process, solubility increases with the increase in temperature and vice versa. We will write a custom essay sample on Factors Affecting Solubility or any similar topic only for you Order Now For example: solubility of potassium nitrate increases with the increase in temperature. In exothermic process, solubility decrease with the increase in temperature. For example: solubility of calcium oxide decreases with the increase in temperature. Gases are more soluble in cold solvent than in hot solvent. NATURE OF SOLUTE AND SOLVENT Solubility of a solute in a solvent purely depends on the nature of both solute and solvent. A polar solute dissolved in polar solvent. Solubility of a non-polar solute in a solvent is large. A polar solute has low solubility or insoluble in a non-polar solvent. EFFECT OF PRESSURE The effect of pressure is observed only in the case of gases. An increase in pressure increases of solubility of a gas in a liquid. For example carbon dioxide is filled in cold drink bottles (such as coca cola, Pepsi 7up etc. ) under pressure. Properties of Solution Concentration The concentration of a solution is the measure of how much solute and solvent there is. A solution is concentrated if it contains a large amount of solute, or dilute if contains a small amount. Molarity Molarity is the number of moles of solute per litre of solution. It is abbreviated with the symbol M, and is sometimes used as a unit of measurement, e. g. a 0. 3 molar solution of HCl. In that example, there would be 3 moles of HCl for every 10 litres of water (or whatever the solvent as). Molality Molality is the number of moles of solute per kilogram of solvent. It is abbreviated with the symbol m (lowercase), and is sometimes used as a unit of measurement, e. g. a 0. 3 molal solution of HBr. In that example, there would be 3 moles of HBr for every 10 kilograms of water (or whatever the solvent was). Mole Fraction The mole fraction is simply the moles of solute per moles of solution. As an example, you dissolve one mole of NaCl into three moles of water. Remember that the NaCl will dissociate into its ions, so there are now five moles of particles: one mole Na+, one mole Cl-, and three moles water. The mole fraction of sodium is 0. 2, the mole fraction of chloride is 0. 2, and the mole fraction of water is 0. 6. The mole fraction is symbolized with the Greek letter (chi), which is often written simply as an X. Dilution Dilution is adding solvent to a solution to obtain a less concentrated solution. Perhaps you have used dilution when running a lemonade stand. To cut costs, you could take a half-full jug of rich, concentrated lemonade and fill it up with water. The resulting solution would have the same total amount of sugar and lemon juice, but double the total volume. Its flavour would be weaker due to the added water. The key concept is that the amount of solute is constant before and after the dilution process. The concentration is decreased (and volume increased) only by adding solvent. Thus, the number of moles of solute before and after dilution are equal. moles1 = moles2 By definition of molarity, you can find the moles of solvent. M x V = moles Substituting the second equation into the first gives the dilution equation. M1 x V1 = M2 x V2 To determine the amount of solvent (usually water) that must be added, you must know the initial volume and concentration, and the desired concentration. Solving for V2 in the above equation will give you the total volume of the diluted solution. Subtracting the initial volume from the total volume will determine the amount of pure solvent that must be added. Ionic Solutes When ionic compounds dissolve in water, they separate into ions. This process is called dissociation. Note that because of dissociation, there are more moles of particles in the solution containing ions than there would be with the solute and solvent separated. If you have two glasses of water, and you dissolve salt into one and sugar into the other, there will be a big difference in concentration. The salt will dissociate into its ions, but sugar (a molecule) will not dissociate. If the salt were NaCl, the concentration would be double that of the sugar. If the salt were MgCl2, the concentration would be triple (there are three ions). Solubility Rules Not all ionic compounds are soluble. Some ionic compounds have so much attractive force between their anions and cations that they will not dissociate. These substances are insoluble and will not dissolve. Instead, they clump together as a solid in the bottom of solution. Many ionic compounds, however, will dissociate in water and dissolve. In these cases, the attractive force between ion and water is greater than that between cation and anion. There are several rules to help you determine which compounds will dissolve and which will not. Solubility Rules 1. All compounds with Group 1 ions or ammonium ions are soluble. 2. Nitrates, acetates, and chlorates are soluble. 3. Compounds containing a halogen are soluble, except those with fluorine, silver, or mercury. If they have lead, they are soluble only in hot water. 4. Sulfates are soluble, except when combined with silver, lead, calcium, barium, or strontium. . Carbonates, sulfides, oxides, silicates, and phosphates are insoluble, except for rule #1. 6. Hydroxides are insoluble except when combined with calcium, barium, strontium, or rule #1. Sometimes, when two different ionic compounds are dissolved, they react, forming a precipitate that is insoluble. Predicting these reactions requires knowledge of the activity series and solubility rules. These reactions can be wri tten with all ions, or without the spectator ions (the ion that don’t react, present on both sides of the reaction), a format known as the net ionic equation. You read "Factors Affecting Solubility" in category "Papers" For example, silver nitrate is soluble, but silver chloride is not soluble (see the above rules). Mixing silver nitrate into sodium chloride would cause a cloudy white precipitate to form. This happens because of a double replacement reaction. Electrolytes When solutes dissociate (or if a molecule ionizes), the solution can conduct electricity. Compounds that readily form ions, thus being good conductors, are known as strong electrolytes. If only a small amount of ions are formed, electricity is poorly conducted, meaning the compound is a weak electrolyte. A strong electrolyte will dissolve completely. All ions dissociate. A weak electrolyte, on the other hand, will partially dissociate, but some ions will remain bonded together. Colligative Properties Some properties are the same for all solute particles regardless of what kind. These are known as the colligative properties. These properties apply to ideal solutions, so in reality, the properties may not be exactly as calculated. In an ideal solution, there are no forces acting between the solute particles, which is generally not the case. Vapor Pressure All liquids have a tendency for their surface molecules to escape and evaporate, even if the liquid is not at its boiling point. This is because the average energy of the molecules is too small for evaporation, but some molecules could gain above average energy and escape. Vapor pressure is the measure of the pressure of the evaporated vapor, and it depends on the temperature of the solution and the quantities of solute. More solute will decrease vapor pressure. The vapor pressure is given by Rauolt’s Law, where X is the mole fraction of the solvent. Notice that the vapor pressure equals that of the pure solvent when there is no solute (X = 1). If X = 0, there would be no vapor pressure at all. This could only happen if there were no solvent, only solute. A solid solute has no vapor pressure. P solution = P pure solvent (X solvent) If two volatile substances (both have vapor pressures) are in solution, Rauolt’s Law is still used. In this case, Rauolt’s Law is essentially a linear combination of the vapor pressures of the substances. Two liquids in solution both have vapor pressures, so this equation must be used. P solution = P1 (X1) + P2(X2) The second equation shows the relationship between the solvents. If two liquids were mixed exactly half-and-half, the vapor pressure of the resulting solution would be exactly halfway between the vapor pressures of the two solvents. Another relation in Henry’s Law, which shows the relationship between gas and pressure. It is given by Cg = k Pg , where C is concentration and P is pressure. As the pressure goes up, the concentration of gas in solution must also increase. This is why soda cans release gas when they are opened – The decrease in pressure results in a decrease in concentration of CO2 in the soda. Boiling Point Elevation A liquid reaches its boiling point when its vapor pressure is equal to the atmosphere around it. Because the presence of solute lowers the vapor pressure, the boiling point is raised. The boiling point increase is given by: ?T solution = Kb X m solution The reduced vapor pressure increases the boiling point of the liquid only if the solute itself is non-volatile, meaning it doesn’t have a tendency to evaporate. For every mole of non-volatile solute per kilogram of solvent, the boiling point increases by a constant amount, known as the molal boiling-point constant (Kb). Because this is a colligative property, K2 is not affected by the kind of solute. Freezing Point Depression A liquid reaches its freezing temperature when its vapor pressure is equal to that of its solid form. Because the presence of the solute lowers the vapor pressure, the freezing point is lowered. The freezing point depression is given by: ? T solution = K f X m solute Again, this equation works only for non-volatile solutes. The temperature of the freezing point decreases by a constant amount for every one mole of solute added per kilogram solvent. This constant (K f) is known as the molar freezing-point constant. Osmosis If you studied biology, you would know that osmosis is the movement of water through a membrane. If two solutions of different molarity are placed on opposite sides of a semipermiable membrane, then water will travel through the membrane to the side with higher molarity. This happens because the water molecules are â€Å"attached† to the solvent molecules, so they cannot travel through the membrane. As a result, the water on the side with lower molarity can more easily travel through the membrane than the water on the other side. The pressure of this osmosis is given in the equation. ? = MRT Where pi is the pressure, M is molarity, R is the gas constant, and T is temperature in Kelvin. Electrolytes and Colligative Properties When one mole of table salt is added to water, the colligative effects are double those that would have occurred if sugar were added instead. This is because the salt dissociates, forming twice as many particles as sugar would. This dissociation, called the Van’t Hoff Factor describes how many particles that are dissociated into the solution and must be multiplied into the Boiling Point Elevation or Vapor Pressure Lowering equations. Different ways of expressing the concentration of solutions Mass Percentage The mass percentage of a component in a given solution is the mass of the component per 100g of the solution. For e. g. , if WA is the mass of the component A, WB is the mass of the component B in a solution. Then, Example: A 10% solution of sodium chloride in water (by mass) means that 10g of sodium chloride are present in 100g of the solution. Volume percentage This unit is used in case of a liquid dissolved in another liquid. The volume percentage is defined as the volume of the solute per 100 parts by volume of solution. For e. g. , If VA is the volume of component A present is Vsol volume of the solution. Then, For e. g. , a 10% solution of ethanol C2H5OH, in water (by volume) means that 10cm3 of ethanol is present in 100cm3 of the solution. Strength of a solution is defined as the amount of the solute in gms, present in one litre of the solution. It is expressed as gL-1. Mathematically, Molarity Molarity of a solution is defined as the number of moles of solute dissolved per litre of solution. Mathematically, For e. g. , If ‘a’ is the weight of the solute (in gms) present in VCC volume of the solution. Then, Molarity is expressed by the symbol M. It can also be expressed as, Normality Normality of a solution is defined as the number of gram equivalents (gm. e) of a solute dissolved per litre of the given solution. Mathematically it is, For e. g. , If a is the weight of the solute (in gms) present in VCC volume of the solution. Then, Normality is expressed by the symbol N. It can also be expressed as, Relationship between molarity and normality The molarity and normality of a solution is related to each other as follows: Molality Molality of a solution is defined as the number of moles of solute dissolved in 1000g of a solvent. Mathematically, it is expressed as Molality is expressed by the symbol m. Molality does not change with temperature. Formality In case of ionic compounds like KCl, CaCO3 etc. Formality is used in place of molarity. It is the number of gram formula masses of solute dissolved per liter of the solution. It is denoted by the symbol F. Mathematically it is given as, Mole Fraction It is the ratio of number of moles of one component (solute or solvent) to the total number of moles of all the components (solute and solvent) present in the solution. It is denoted by the symbol X. Let us suppose that a solution contains two components A and B and suppose that nA moles of A and nB moles of B are present in the solution then, Adding eq (i) and (ii) we get XA + XB = 1 Parts per million (ppm) When a solute is present in very small amounts, its concentration is expressed in parts per million. It is defined as the amount of the solute present in one million parts of the solution. It may be noted that the concentration units like molarity, mole fraction etc. are preferred as they involve the weight of the solute and solvent, which is independent of the temperature. But units like, molarity, normality etc. , involve volume of the solution, hence changes with temperature. How to cite Factors Affecting Solubility, Papers