Question:
Explain the business process of Bakery.
The business operation of B.Bakery is to make delicious breads and pastries for their customers and providing quality product so that they enjoy while they eat. It is a family owned company and employs around 70 employees in their company and its revenue increased to around more than $13.5 million in a year. The firm also supplied confectionary and bread to different number of business which includes pub chains and supermarkets (Epstein and Lee, 2011). Over the years, the company has experienced mixed fortune in terms of the business performance and has also experienced growth in the last few years and also produces some of the new healthy products. The operation of the company includes appropriate formation of the processes such as design, planning, strategy and control of the performance of the company (Fifield and Power, 2011). The steps implemented for the development of the company and evaluating the efficiency of the organization in order to achieve maximum outputs of the products in the market. The main aim of the firm is to provide quality products to their customers.
The most important business processes of the firm is the collection, evaluation and processing of the data. The implementation of the accounting information system will help to manage the accounts and removing risk of lost data and information (Gough, 2002). The accounting software will help to take the firm to the next level. The functions of accounting information system are given below:
The software accounting information system will help to identify, record, systemize, process, track and control all the financial information and data (Kieso, Weygandt and Warfield, 2011). It will reduce the risk of omission and errors and achieving the following objectives by B.Bakery:
The accounting information system enables to collect process and filter the financial data. The accounting information system enables the users of the financial statements to make necessary decisions (Sharma, 2010).
The selection and requirement of the software will help in the achievement in the objectives. The objectives that can be achieved are as follows:
The software package regarding accounting is used for the creation of the proper accounting system which is as the SAP, ERP and the MYOB. It shows the enhancement in the organization that helps in the creation of the growth for the organization regarding the security, POS, time tracking, inventory, payroll and the billing process (Wolf, 2008). This implementation of the systems helps in the growth of the organization as well as it also helps in the enhancement of the strategies that are useful for the creation of the calculation systems, securitization, account up-gradation and the proper arrangement of the company. Thus it also helps in the creation of the continuation of the systems that are helpful for the growth and the development of the proper payment system in the company. The SAP software is used for the creation of the balanced situation in the financial management and the mitigation of the risks and thereby it also helps in monitoring the costs and the entity operations that are required for the process of accounting (Romney and Steinbart, 2006). Thus it shows the fruitful implementations that help in the proper continuation of the process that are helpful for the appropriate enhancement of the problems. It also helps in the creation of the appropriate communication system between the banks that also increases the investment management for the organization. The MYOB software also helps in the auto reconciliation of the bank for the sales of the business enhancement and thus it also helps in the determination of the business properties. The ERP software is used for the creation of the centralized information system that is used for the proper accessing of the continuum and thus environment is also created for the fulfillment of the future needs (Sharma, 2010).
As per the advancement of the technology, the current information technologies are used in the business organization to encourage the usage of the computerized process in the field of the small medium enterprise. This in fact creates the efficiency in the business and also helps in the increment of the methods of the costs that are required for the proper creation of the business transactions (Spiceland, Sepe and Nelson, 2011). This also helps in the advancement of the computerized technology for the proper creation of the accounting systems that are useful for the growth and the enhancement of the fundamental transaction. This process of the development also includes the accounting software packages that are helpful for the proper customization of the export and the import of the accounting data that are require for facilitating the print quotes, sales orders and the other procurement orders. The accounting software also helps in the increment of the security levels that are required for the creation of the proper transaction of the business accounts and also includes the maintenance of the account of the organization (Stittle and Wearing, 2008). For this purpose, several other accounting software are used among which MYOB is the best suited accounting software. It is totally proved on the basis of the analysis that helps in the continuation of the scalability, costs and the account payable with receivable with all over the globe. The main features that are included for the purpose of the continuation of the MYOB in the organization are the real time data, integrated inventory systems with the solutions regarding the business management, proper gathering of the report in the excel sheet and also manages the operation and the other activities regarding the business. The software SAP is also used for the proper integration of the business which can be easily represented through the business process and the other accounting related software (Wolf, 2008). The key features that are consisted by the SAP for the development of the organization are managing the journals with the budget and the account receivable and the payable, managing the inventories that are required for the proper development of the customer data and the management of the sales process (Zopounidis, 2008). It also includes the management of the inventories all across the stock movements with the changing of the locations and also it helps in recording and tracking the other stock movements. Thus it is proved that the most suitable vendor is the software package that is involved in the given Bakery business. Thus it also helps in the transformation of the security maintenance of the Bakery Business with the implementation of the enhancement of the risks.
Conclusion
The technology of the accounting information system also helps in providing the necessary information for the proper management of the system in an efficient manner for the sake of the development of the business Bakery. Since B. Bakery is a family owned business, it also helps in analyzing the report which helps in the development of the firm that is requisite for the creation of efficiency in the business (Turtledove, 2007). The firm also helps need more efficient information system and thus it also helps in the improvement of the effective business and thus it also helps in carrying out the sophistication of the business. Effective creation of the IT governance strategies which helps in the reduction of the hacking of the information and the other fraudulent that are involved for the enhancement of the cybercrime.
References
Berk, J. and DeMarzo, P. (2007). Corporate finance. Boston: Pearson Addison Wesley.
Elliott, B. and Elliott, J. (2008). Financial accounting and reporting. Harlow: Financial Times Prentice Hall.
Epstein, M. and Lee, J. (2011). Advances in management accounting. Bingley, UK: Emerald.
Fifield, S. and Power, D. (2011). Managerial finance. [Bradford, UK]: Emerald.
Gough, L. (2002). Global finance. Oxford, U.K.: Capstone Pub.
Holton, R. (2012). Global finance. Abingdon, Oxon: Routledge.
Kieso, D., Weygandt, J. and Warfield, T. (2011). Intermediate accounting. Hoboken, NJ: John Wiley & Sons.
Kimmel, P., Weygandt, J. and Kieso, D. (2007). Financial accounting. Hoboken, NJ: John Wiley.
Powner, D. (2012). Information technology. [Washington, D.C.]: U.S. Govt. Accountability Office.
Romney, M. and Steinbart, P. (2006). Accounting information systems. Upper Saddle River, N.J.: Pearson Prentice Hall.
Sharma, N. (2010). Business finance. Jaipur, India: ABD Publishers.
Spiceland, J., Sepe, J. and Nelson, M. (2011). Intermediate accounting. New York: McGraw-Hill Irwin.
Stittle, J. and Wearing, B. (2008). Financial accounting. Los Angeles: SAGE Publications.
Turtledove, H. (2007). Settling accounts. New York: Del Rey/Ballantine Books.
Warren, C., Reeve, J. and Fess, P. (2005). Financial & managerial accounting. Mason, Ohio: Thomson/South-Western.
Wolf, M. (2008). Fixing global finance. Baltimore, Md.: Johns Hopkins University Press.
Zopounidis, C. (2008). Managerial finance. [Bradford, England]: Emerald.
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