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Running Head: Coca-Cola Amatil.co Coca-Cola Amatil.co Faculty of Higher Education Assignment Cover Sheet Unit Code HA2042 Unit Name ACCOUNTING. INFORMATION. SYSTEMS Assignment Number 1 Is this a Group or Individual assignment If Group, please provide group number _________ Due Date 18TH SEPTEMBER Declaration Complete this and attach as a front cover sheet to your Blackboard submission We certify that: 1. This assignment is our own work. We have acknowledged and disclosed any assistance received in its preparation and cited all sources from which data, ideas, words (whether quoted directly or paraphrased) were taken. 2. This assignment was prepared specifically for this unit only. 3. The reference list is truthful and accurate and in Harvard referencing style. Student name/s Student number [must be correct] Which section(s) did each person work on CHAMODI DE FONSEKA INT3344 TOPIC: COCA COLA AMATIL.CO Contents Executive Summary3 Introduction3 Background4 Systems requirements5 Software features and functionalities5 Easy Creating and Tracking of Invoices6 Free Product Updates6 Interactive Credit Control6 Software selection7 Vendor Selection8 Conclusion9 References10 Executive Summary The report is about accounting / management consulting companies. The company focuses on various aspects of accounting information systems. Currently, a client of your company is evaluating their accounting system and the chief financial officer of a Coca-Cola customer believes that they should invest in cloud accounting software to support business development. The report covers the client's background and business activities. Identify the features of the software that customers need to consider to support their business. The report should include at least two (2) accounting package suppliers (such as SAP, MYOB, Xero, etc.) and a brief description of each supplier and its products. The study compares the functions of two cloud computing software packages offered by vendor of a computing package. Finally, this report identifies the supplier and accounting software that is right for your customers and explains why this is the best choice. Introduction For the industry to succeed, extensive research is needed to find the right services that customers expect the company to offer. This extensive research should take the company’s activities to a higher and wider level. It should have a big impact not only on the customer, but also on the employees who work in the company. Therefore, in order to improve the performance and efficiency of the entire industry, certain technologies are needed. As in customer service, satisfaction is the main consideration. The accounting department plays an important role in the industry and the only way to get employers from each of their indicators is to improve the technology for proper knowledge management and knowledge creation. They need to rely on the system to make the industry profitable and increase production. Background Coca-Cola Amatil Co. (CCL) manufactures also distributes carbonated beverages, sports, water, fruit juices, and energy drinks, coffee and fruit, flavored milk, vegetable blended products (CCL – Coca-Cola Amatil Limited, 2020). CCL is the main licensee of Coca-Cola Amatil in Australia and also manufactures its alcoholic beverages and mineral water. CCL distributes a portfolio of Beam International Spirits & Wines ’premium spirits products. CCL also operates in New Zealand, Australia, Papua, Fiji, Indonesia, Samoa and new Guinea (Benjamin, 2009). Key business processes Coca-Cola Amatil Limited (CCA) Is the main breweries for alcoholic beverages in the Asia-Pacific region. CCA operates in six nations - New Zealand, Australia, Papua, Fiji, Indonesia, Samoa and new Guinea. The company also shuts down beer as well as coffee. The portfolio of various CCA products contains carbonated beverages, coffee, spring water, tea, energy drinks, ice tea, juices, sweetened condensed milk, and alcohol (Coca-Cola Amatil, 2020). Coca-Cola Amatil dispenses several sparkling alcohols, distillates and other non-alcoholic beverages. Cold drinks and snacks gradually became the company’s main focus and were replaced in 1973 by United Manufacturing Trade Industry Co., Ltd., 1977 and Amatil Co., Ltd. It began to expand its glass business in Europe and in 2004 acquired a Coca-Cola glass factory in Australia. In 1989, the firm sold its tobacco division WD&HO Wills to British American Tobacco (British American Tobacco, 2020). CCA has plants throughout Australia, with major plants located in Richlands (Qld), Northmid (NSW), Moorabbin (Vic) and Hazelmere (WA), North Sydney (NSW),. The CCA announced on February 22, 2017 that the barton’s website in Port Road will close in early 2019 and the Richlands website in Queensland will expand because there is no room for expansion. From 2006 to 2011, CCA and SABMiller formed a joint project to distribute their beverages in Australia. SABMiller Group acquired Foster and acquired full ownership of Pacific Drinks (Coca-Cola Amatil Limited's, 2020). Systems requirements Software features and functionalities Wiley provided some evidence to prove how Coca-Cola uses a cash register to manage accounting information. The company’s cash register is divided into two parts. Part of it is used to record all journal entries of cash payments (such as credit and operating loans) (. Benjamin, 2009). The second part includes a cash journal that contains all records and receipts (such as cash sales and accounts receivable). In addition, the company records all of these journals on a daily basis, and these records relate to all operations performed and the company’s management accounting information system. 1. The primary function of AIS is to efficiently collect as well as store information related to the economic activities of the entity, including obtaining transaction information from recording transactions, source documents, in journals and placing information in journals by category. account. 2. The second task of the AIS is to offer useful material for decision-making. 3. The third and main function of AIS is to have proper control for recording and processing data. Features 1. In order to meet the requirements of the organization's statutory reporting, 2. Provide the consistent accounting data to different operators and Protect your organization from potential risks arising from the misuse of accounting information or the system itself. A Clear Financial Overview One of the great advantages of accounting software is that it can provide an accurate financial overview of your business. Access from Anywhere, Anytime Because billing software is cloud-based, you can work anywhere and anytime without computer restrictions. Easy Creating and Tracking of Invoices when people used Excel spreadsheets to track all their expenses as well as income and then created calculations in separate Word documents. Using accounting software, your accounts are not only customized according to your business requirements, but are very quick and simple to build and track (Ochoa et al., 2010). Free Product Updates Another advantage of all the cloud computing is that when the product updates are released, they are instantly delivered to the users, without having to wait for your desktop, then install a new version. Interactive Credit Control Finally, but most importantly, due to the many chart options, the software can easily manage outstanding sales accounts. Software selection • XERO: It is a New Zealand registered software company that provides cloud computing software for small and medium companies. XERO products are based on the software as a service model and are sold over subscription. It offers various accounting procedures that can make the data reliable and at the same time protect it. In general, it can connect people through any device anytime and anywhere. Therefore, it is most suitable for small business (D. Badgaiyan, 2018). • MYOB: Note that your company is an international company that operates in Australia and offers tax software, accounting as well as other services. It is most suitable for small and medium companies. It offers different types of products for companies of different sizes. For small and medium enterprises, it has basic knowledge of, MYOB account edge, MYOB account licenses. For large companies, it offers the products such as MYOB Pay Global, MYOB Advanced and MYOB Exo (Anggono and Lubis, 2020). It has higher speed and availability and is widely used by several Australian firms. • QuickBooks Online: The company launched in 1983, after IBM introduced the first private or personal computer. It is only suitable for small business (Nations, 2020) This is very dependable, but its scope is limited only by accounting and bookkeeping. It provides a variety of innovative accounting tools that make it easy to record transactions (Quick Books, 2020). MICR Vision is the only operation and is a medium company that requires intermediate accounting software. Cloud computing also allows companies to store all the data on servers as well as host it over the Internet (Park et al., 2013). Medium software means reducing installation time and focusing on companies at reasonable prices. XERO has a high level of security and can easily access data stored in the cloud anytime and anywhere. It is available at an affordable price as well as is best suited for MICR vision as it offers a variety of software packages that companies can purchase to make their accounting system smoother and more accurate. In addition, the main goal of the company is to improve technology and offer high quality products as well as services. XERO eliminates the requirements of the manual and makes the company functional and efficient (ESHGHIZADEH, KAFI and NEZAMI, 2012). Vendor Selection The choice of the accounting software package for small as well as medium-sized firms depends on the capability to record major, including receivables, financial transactions, payables, bookkeeping, payroll, and more. The two billing packages as well as vendors that can be associated are MYOB and XERO. Both categories are intermediate, but have different characteristics and functions. The following table provides a similar comparison. MYOB XERO It is an online accounting software that designed for small business development. This is a browser-based model, which means that users can simply access it from any web device. Running one report at a time takes more time. The instant report is complete and multiple reports can be run at once in the browser table. It includes payroll for one person only and more staff require an advanced version of MYOB (Yana, 2018). It contains payroll, payroll, employee salary summary and many other contents in one interface. It does not enable the processing of purchases and sales against customer and supplier cards. In XERO, an only contact can signify both the suppliers and customers. From the functional differences mentioned above, it can be explained that XERO is in some respects than MYOB and more suitable for small as well as medium companies (Yana, 2018). For MICR Vision, compared to MYOB, XERO has less cost and more features. ERO is a compatible package of accounting software (Lev, 2018). It is easy to use and also most of its functions come with a dashboard where you can compare all the