you are being asked to prepare a 3-5 page document describing an accounting syst

Question

you are being asked to prepare a 3-5 page document describing an accounting system that is appropriate for a specific type of organization (a sector such as banking, hotel, retail, advertising, restaurant, manufacturing, etc.). The information in your paper will be based on research you conduct by reading text books, papers and websites and talking with a person that uses such a system in your chosen sector. You should primarily discuss the features needed for the sector chosen. But, you should also discuss any other important issues that you find while conducting your research.

Note: The accounting systems paper can take one of two approaches. For whichever industry you chose either find a software accounting system or examine how a company in the industry does their accounting.Basically you should discuss all of the functions that the accounting supports (for instance hotel would include reservations, room rent, room service, additional fees-laundry service etc, room charges from lounge and restaurant, wages, cleaning schedule for rooms etc). It should also be able to prepare reports (specify which reports).

Generally it is easier to find a software for the industry you've chosen because you can easily see all of the functions it performs. However you need to be careful about similarity since the report goes through TurnItIn.

Explanation / Answer

Answer

Accounting System for manufacturing Company

ERP system can provide accounting system for manufacturing companies. ERP system modules are financials, manufacturing, distribution, customer relation management, and e-commerce. The financial module for manufacturing company accounting may include following

ERP system can be used as a complete standalone manufacturing accounting system, including general ledger, job cost, AP and AR, check reconciliation, fixed assets, payroll HRS, budgets. An executive dashboard & broad range of reports can provide decision-making information. For larger manufacturers who need more capabilities from their manufacturing ERP system may include following range of functions

For very large and global manufacturers, ERP accounting system may include following

Manufacturing inventory software can provide information for optimal investment decisions, and the financial accounting software can provide integrated management control from the shop floor to accounting. Manufacturing ERP System will include estimating, quoting, sales order processing, configurator, work order processing, production scheduling, labor tracking, job costing, shipping and MES software. Manufacturing ERP system has built into the manufacturing process that includes the following: ISO 9000, Quality Standards, FDA Standards, Just In Time, KanBan, Lean Manufacturing, to reduce inventory control purchase and maximize efficiency. ERP manufacturing system also uses bar coding and wireless terminals for point of entry manufacturing.

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