Find in a client organization structure

Assignment Help Accounting Basics
Reference no: EM132836313

Question -

A. This year you obtain a new client, Lee Corporation, a regional distributor of appliances. Before becoming your client, Lee had installed a microcomputer-based accounting system to handle its receivable, payables general ledger and payroll. Lee purchases its microcomputer with off-the-shelf software and appears very pleased with it. You notice that the computer sits on the bookkeeper's desk. You ask Christian Lee, the president, about his feelings about the computer system, and he states:

"The system is absolutely great. It has already saved us a lot of time and money. I get reports when I want them, not days later. In fact, it is so good, why don't you try it? The password is LEE. You can go ahead and use it. If you want any backup files, they are stored in the supply room. We sure saved a lot of money by purchasing the system from a mail-order operation. A system analyst wanted P15,000 to help pick the best system for us, and a local dealer wanted P11,000 more for comparable hardware and software."

Required - What are your concerns about the system that Lee uses?

B. Mr. Pedro, owner of department store, wants to convert from manual to computerized system since his store is getting bigger due to the increase of demand as well as his potential customers. He thinks by the use of computerized system.it is way better than before where he only used the manual system.

Required - What major differences would you expect to find in a client's organization structure and transaction processing when the client converts from a manual to a computerized system? What would be the possible result or outcome of it?

Reference no: EM132836313

Questions Cloud

Should businesses focus more on product development : Should businesses focus more on product development (which satisfies customer's needs) or should they focus more on employee development
How will cultivating the specific action help you : Pick one of the five actions and describe how you will work to build your capacity to do this. How will cultivating this specific action help you?
Knowledge and knowledge sharing within organization : This journal articles focus on transformational leadership and knowledge and knowledge sharing within an organization,
How would address a breach of confidentiality in the group : How informed consent addresses confidentiality in a group setting. How does confidentiality in a group differ from confidentiality in individual counseling?
Find in a client organization structure : Find in a client's organization structure and transaction processing when the client converts from a manual to a computerized system
Patient noncompliance mining of patient-reported text : What do you think are the main challenges associated with annotating/labeling human text used to train text mining models?
What is your position on the theory : David Kolb's theory of Experiential Learning is one of the most used learning models in education, but many theorists criticize its validity.
Devil canyon simulation and policies-plans and risks : You will evaluate how to design an enterprise architecture for a mountain resort. Analyze at least 5 security-related risks/threats that Devil's Canyon may face
Describe express and implied agreements : Who are those people and/or groups to which we owe a duty? What are the express and implied agreements that you have with each of the constituents?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Brit franc and scot who share income and loss in a 221

brit franc and scot who share income and loss in a 221 ratio plan to liquidate their partnership. at liquidation their

  Discuss the changes in reporting requirements rsi

There are approximately six major requirements outlined in GASB-34 - one of these is "Required Supplementary Information" (RSI). Describe this requirement and discuss the changes in reporting requirements RSI now requires of state and local gover..

  Find the conversion cost per equivalent unit for April

All direct materials are added at the beginning of the process, and the first-in, first-out method, Find the conversion cost per equivalent unit for April

  Why might this situation occur

An article indicated that when new GAAP rules were issued related to pensions it caused an increase in the liability for pensions for approximately 20% of companies. Why might this situation occur?

  Calculate summers building company net income

Calculate Summers Building Company's net income for 2019 on an accrual basis. Calculate Summers Building Company's net income for 2019 on a cash basis.

  Calculate the acquisition cost of the gizmo machine

Calculate the acquisition cost of the Gizmo Machine that will be used as the base for future depreciation charge

  What would you say to Robert

You are planning on using the standard mileage method to calculate Robert's deduction for transportation costs. What would you say to Robert

  Which an important purpose of closing entries is to

Which of the sequences of documents or records describes the proper sequence in the accounting cycle? Which An important purpose of closing entries is to

  What other factors does the company need to consider

Earl Massey, director of marketing, wants to reduce the selling price of his company's products by 15% to increase market share.

  What is joyce gain or loss

Joyce purchased General Electric stock 4 years ago for $10,000. In the current year, she sells the stock for $25,000. What is Joyce's gain or loss?

  How much net income should be distributed to hutchins

Hutchins and Jenkins had $60,000 and $80,000, respectively, in their January 1 capital balances. Net income for the year was $36,000.

  What might you suggest in forming the final agreement

If you were providing Lindsey Wilson counsel, what might you suggest in forming the final agreement

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd