HI 5019 - Strategic Information System For Business And Enterprise - Management Assignment Help

Assignment Task:

Task:

• Critically evaluate the purpose and role of accounting  information systems in today’s business environment.

• Articulate the various transaction cycles, financial reporting,  management reporting systems and ecommerce systems to  technical and non-technical stakeholders. 

• Appraise the risks inherent in computer-based systems/ERP,  including the role of ethics and the various internal control  processes that need to be in place.

The Revenue Cycle of XYZ Limited.

After finishing your Master of Professional Accounting, you started your accounting  consultancy in Brisbane, Queensland, Australia. You got a high distinction in HI5019 Strategic  Information System and preferred to analyse the business processes, risks and internal  controls. XYZ is one of your clients, and the CEO of XYZ is delighted with your services.1 The  head of the accounting department is concerned about their revenue cycle. Therefore, he has  recently contacted you to evaluate their revenue cycle. During the initial meeting, you  elaborate him that conceptually, the revenue cycle is a recurring set of business activities and  related data processing operations associated with providing goods and services to customers  and collecting their cash payments. This definition reveals that the revenue cycle can be  categorised into (1) sales order processing procedures (SOPP), and (2) cash receipts  procedures (CRP). The SOPP and CRP of XYZ are elaborated below. Therefore, you requested  the head of the accounting department to describe the SOPP and the CRP of XYZ Limited  separately. This description is given below.

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