Impact of Computerized Accounting to Inventory Management

CHAPTER 1 BACKGROUND OF THE STUDY Introduction Advances in Information Technology (IT) have enabled companies to use computers to carry out their activities that were previously performed manually. The ongoing revolution in IT has had a significant influence on accounting information system. Today, almost all organizations are using computers in their daily business. As computers become smaller, faster, easier to use, and less expensive, the computerization of account ting work will continue. Accounting activities that were previously performed manually can now be performed with the use of computers. That is, accountants are now able to perform their activities more effectively and efficiently than before. On the other hand, every†¦show more content†¦The profiles of the respondents are being gathered through questionnaires to generate generalization about the impacts of computerized accounting system in inventory management. Input Process Output Figure 1. Paradigm of the Study Statement of the Problem This study seeks to determine the relationship of computerized accounting system and the effectiveness of inventory management of quick serving restaurants in Iba, Zambales. Specifically, it aims to determine the following: 1. The profile of the respondents as to: 1.1 Individual 1.1.1 Name; 1.1.2 Position/Level of management; 1.1.3 Tenure in service; and 1.1.4 Background in IT. 1.2 Organization 1.1.1 Name; 1.1.2 Age of Business; 1.1.3 Size of the Business based on net assets; 1.1.4 Number of employees; 1.1.5 Average Sales; 1.1.6 Average inventory; and 1.1.7 Method of recording inventory. 2. How is the degree of effectiveness of the following computerized processes in inventory management described in terms of: 2.1 Accuracy of records; 2.1.1 Purchase of inventory; 2.1.1.1 Demand forecasting; 2.1.1.2 Replenishment lead time; and 2.1.1.3 Carrying cost? 2.1.2 Receiving of inventory; 2.1.2.1 Available space for inventory; and 2.1.2.2 Purchase returns and allowances? 2.1.3 Point of Sale; 2.1.3.1 Cost of Goods Sold? 2.1.4 Inventory count; 2.1.4.1 Inventory report in accounting system;Show MoreRelatedAssumptions on Accounting Information Systems1575 Words   |  6 PagesAssumptions on Accounting Information Systems: Accounting Information Systems have emerged as very famous components of modern businesses mainly because they offer beneficial and timely information to management in addition to being cost-effective. Generally, these systems are helpful in book account payables, cash transactions, receivables, and every other accounting function in an orderly manner. 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The Professional Development Award in Health and Social...

PDA in Health and Social Care Supervision Social health Care Supervision Definition Social Care Supervision refers to the strategies and body of service done within a social care plant in order to improve on the level of performance of the social care workers. Supervision is a critical idea in any social or structured society in which services of high quality and demand are being offered. Many social health care centers in the world are in need of equitable service delivery programs that will oversee a fruitful service reception by the clients. As such, Social Care Supervision refers to this body of knowledge and strategies used to support and instill hard work, quality delivery of products and services, together with a continuum of good delivery of goods and services to the clients (Gray Brown 2010, p. 45-85). The Professional Health and Social Care Supervision Award were offered to social workers who registered to the Scottish Social Services Council. 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Managing Business Activities to Achieve Results Free Essays

Table of Contents Understand the importance of business processes in delivering outcomes based upon business goals and objectives 2 Be able to develop plans for own area of responsibility to implement operational plans 3 Be able to monitor appropriate systems to improve organisational performance 4 Be able to manage health and safety in the workplace. 1: 1. 1 evaluate the interrelationship between the different processes and functions of the organisation 1. We will write a custom essay sample on Managing Business Activities to Achieve Results or any similar topic only for you Order Now 2 justify the methodology to be used to map processes to the organisation’s goals and objectives 1. 3 evaluate the output of the process and the quality gateways 2: 2. 1 design plans which promote goals and objectives for own area of responsibility 2. 2 write objectives, which are specific, measurable, achievable, realistic and time-based to align people and other resources in an effective and efficient way2. 3 implement appropriate systems to achieve objectives in the most efficient way, on time, to budget and meeting organisational standards of quality 2. 4 carry out work activities meeting the operational plan through effective monitoring and control 3: 3. 1 design systems to manage and monitor quality standards specified by the organisation 3. demonstrate a quality culture to ensure continuous monitoring, evaluation and development of the process 3. 3 recommend improvements which align with the organisation’s objectives and goals and which result in improvements 3. 4 report on the wider implications of proposed changes within the organisation 4: 4. 1 carry out risk assessments as required by legislation, regulation and organisational requirements ensuring appropriate action is taken 4. 2 demonstrate that health and safety regulations and legislation applicable in specific work situations are correctly and effectively applied 4. carry out a systematic review of organisational health and safety policies and procedures in order to ensure they are effective and compliant 4. 4 carry out practical application of health and safety policies and procedures in the workplace. 1. 1 – The Interrelationship Between the Different Processes and Functions of the organisation Your business’s functions are the things it does — production, sales, marketing, research and billing, for example. The organizational structure defines the relationship and interactions between the parts of your business, and identifies how the chain of command runs through the different levels. You can set up your business structure around your organizational functions, but even if you don’t, function and structure will influence each other. Functional Structure Most businesses adopt a functional organizational structure: Different functions go into separate departments that report to department managers, who then report to someone higher up. If you adopt a functional structure, it has the advantage of clear lines of authority, and allows each employee to concentrate on her particular mission. The drawback is that you can end up with departments that don’t talk to each other or cooperate well. A customer may get bounced from department to department if his problem doesn’t relate to one particular function. Divisional Structure A divisional organizational structure spreads functions across different branches: If you have different product lines, the division for each product line has its own marketing, RD, sales and accounting departments. The advantage of this approach is that each branch has the personnel to carry out all necessary functions. The drawback is that with employees in each division performing identical functions, you could end up with a lot of redundancy and inefficiency. Matrix Structure Using a matrix structure in your business can give you greater flexibility in business functions than a more hierarchical organization. In a matrix structure, each employee works in a function-based department, such as marketing or finance, but they can be assigned to projects under different managers and teamed with employees who have different functions. This structure adapts organizational function to changing organizational needs. The drawback is that the chain of command in a matrix may become cloudy and conflicted. Organizational Charts If you or your staff have trouble visualizing a proposed structure, you can use an organizational chart to see it clearly. The New York and Erie Railroad developed the first organizational charts in the 19th century as a way to improve management efficiency. A chart shows the lines of authority and control running between different departments and levels of management. A well-designed chart will make it easy to see who makes decisions, who reports to whom and how your organization divides up its operating functions. How to cite Managing Business Activities to Achieve Results, Essay examples

Summary of Economics free essay sample

From the household the employee goes to firm to work and then he uses the finished resources for his personal use and this is how the cycle works. In Figure B. we should realize that not all the income is spent. Some income is saved and recycled to investment through the financial markets and that we can see in fig. B. As we cannot consider an economy as isolated from the rest of the world since countries have a great impact on each other owing to transactions such as imports, exports, and foreign borrowing. Therefore we should incorporate both the foreign and government sector in the flow charts as we can see in the Figure. C. In this the government sector makes payments to households and firms, collect taxes, borrows saving and consumes both goods and labor. The foreign sector buys and sells goods and services and borrows and saves it in the domestic financial market. We will write a custom essay sample on Summary of Economics or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Now to understand the concept of supply and demand we should first know the meaning of those terms. Supply means the goods and services which we try to make it available to the customers on time and demand means to fulfill the needs of the buyer by providing him/her the services at the right place on right time. In Figure D. the supply curve is in the upward direction because the price is high as the producer is willing to produce the given quantity. The reason for price high is because of the need in order to compensate a producer for the higher cost of obtaining the additional resources needed to produce the larger output. Similarly, in figure E. the demand curve slopes downward because buyers as a group respond to lower prices by purchasing more. Now in Figure F, in the freely operating market the market price and the quantity are determined simultaneously . And one does not determine the other. There is only one actual market price and one actual quantity transacted. And so this means that some buyers and sellers were not able to make a transaction or additional transactions because they could not buy or sell at the going market price. So Buyers who were willing and able to pay the market price or more are indicated by the proportion of the demand curve. Now in figure G, as we can see that the marker prices and the quantities are at the equilibrium , new forces can causes either or both the supply and demand curves to shift. Such forces create a new equilibrium point towards which price and quantity will adjust. As we have even studied about the market failures and the role of the government in which the strength of the market is that all resources and outputs with efficiently be allocated to their most productive, beneficial uses by the law of supply and demand. On these grounds, there appears to be no rule for government in the economy other than maintaining the rules of the marketplace, since the market is performing optimally. However market failures which justify government interventions in the economy are as follows that is a) inequity (unfairness), b) failure of competition, c) underutilized resources, d) externalities, e) public goods. Now I would like to explain each of the failures one by one. a) Inequity: It is the distribution of resources and outputs resulting from a perfectly functioning market system will be efficient, but it may not be equitable. If the market’s distribution of benefit does not meet society’s criterion of equity, government can intervene to redistribute the ncome or wealth. b) Failure of competition: As we all know that there are some circumstances which lead to natural monopolies for example the economics of producing electricity may justify only one large power plant which exploits economies of scale to supply the entire community. c) Underutilized resources: It is when the national economy exhibits the high level of unemployment, idle factories, huge balance of payments deficits or surpluses, and unanticipated inflation; it is difficult even for economists to argue that all resources are being efficiently utilized by the market system. ) Externalities: Externalities are actions of one actor which affect another, but not directly through the market system. The actions of the polluter, for example, affect others by the reduced quality of the air and water they must consume, but the price of the polluter’s products does not reflect their cost of pollution. Thus government often provide regulatory incentives not to pollute or introduce market incentives through taxes or subsidies. e) Public goods: Some items have peculiar characteristics that when one person consumes the benefits, it does not detract others from also consuming the same benefits. Example of public goods is national defense and public parks. Thus the market system fails to produce an optimal amount and quality of these goods. Aggregate supply and aggregate demand: Generally I would like to explain this by an example but first I would like to clear some concepts that are one would expect that market mechanisms will efficiently allocate resources and output throughout the economy. As only under special conditions would another actor intervene in the operation of a particular market? All of this analysis forms the basis of microeconomic. Aggregate supply is the schedule relating the total supply of all the goods and the services in an economy to the general price level. While there is broad agreement among economists about the slope of the aggregate demand curve, a consensus view is almost impossible to identify. Aggregate demand is the result of the interactions of the nonfinancial and financial markets. The non-financial markets are divided into four types of expenditure. The financial market includes money and all other financial assets. This is why I have understood from the case study.