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ABC Software Company ABC Software Company is a small (rev

ABC Software Company is a small (revenue of $10 million in 1993) company that writes computer software for the hospitality industry. It is privately owned by a group of seven individuals, one of whom is the president of the company and involved in the daytoday operations of the organization. The other six investors are not involved in the everyday running of the company. This research examines the accounting system of ABC and considers how improvements in the computer system might enhance the company's accounting performance.

The primary users of the accounting system are the accounting department (accounts payable and accounts receivable), the support department, administration and marketing. The accounting department uses the system to enter purchase orders, process invoices and statements, issue checks and prepare accounting reports, such as journals, the general ledger and financial statements.

The support department enters its monthly maintenance agreement information directly into the system, which prompts invoices to be printed once each month. The support department also relies on the accounting system to provide it with periodic reports that indicates how well the support department is managing its revenue, which customers should be placed on credit hold because of lack of payment, and which customers have exceeded their allotted monthly service charges.

Administration uses the accounting system to provide it with ongoing information regarding the financial health of the company. Reports are generated to track budget versus actual performance for each department on a monthly basis, and administration (the president) is also concerned with the performance of the sales and marketing organization, both in terms of cost and revenue. Other reports that are generated for administration include payroll reports, expense reports and financial statements.

The marketing department depends on the accounting system to ...

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ABC Software Company ABC Software Company is a small (rev. (1969, December 31). In LotsofEssays.com. Retrieved 19:37, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1692804.html