O'Brien, James A. Applebee, A. International Journal of Flexible Manufacturing Systems. Australian Academic. And Yulia. Small and Medium Business. Jakarta: Issue of July. Jakarta: It. August issue. Theory of Accounting. Five editions. Richardus Eko Indrajit. Jakarta: Elekmedia Komputindo. Methods and Techniques Preparation of Thesis. New York: Alfabeta. Robbins, Stephen P. New Jersey: Pearson International Editions. Romney, M. New Jersey: Prentice Hall.
Saifuddin Asr. Reliability and validity. Yogyakarta: Student Library. Pakistan: Pakistan University. Siegel, Joel G. Translators: Moh Kurdish. Jakarta: Elex Media Komputindo. Sekaran, Uma. Book One. Translation Kwan Men Yon. Soemarso S. Accounting An Introduction. Book 1 Edition 5. Sondra P. London: Earth Literacy. Spencer, Lyle M. Competence Work: Models for Superior Performance. Sujoko Efferin, et al. Research Methods for Accounting.
East Java: Bayumedia Publishing. Tata Sutabri. Analysis of Information Systems. Yogyakarta: Andi Yogyakarta. Campus-Wide Information Systems. Kumorotomo and Subando Agus Wahyudi Tanuwijaya.
Information Systems Management in Public Organizations. Yogyakarta: Gadjah Mada University Press. Jerry J. Weygandt, Donald E. Kieso and Kimmel, Paul D. Accounting Principle.
Eight Edition. Whitten, J. Bentley, L. Dittman, K. Systems Analysis and Design Methods. Wilkinson, J. Cerullo, M. Raval, V. William J. Doll and Gholamreza Torkzadeh. MIS Quarterly. Publishers Printing Gema Amini. Winwin Yadiati and Ilham Wahyudi. Introduction to Accounting. Jakarta: Kencana Prenada Media Group. Wing Revelation Winarno. Communication and Information Agency. The New Account Hierarchy Setup druid opens with a screen that briefly describes what this druid does.
The three buttons at the very bottom of the screen will not change while using the druid. Any selections you have made in this druid up to this point will be lost.
The next screen allows you to select the default currency to use for your accounts. The Select Other types are used for setting up commodities for stock related accounts.
If you wish your accounts to use a different default currency select one from the list. This is used for setting up commodities for stock related accounts. The next screen is used to choose a hierarchy of accounts to create. You will see a screen divided into three parts. Select from this list the types of accounts you wish to use.
You can select as many types of accounts as you wish. The next screen allows you to enter opening balances for your accounts and also select if the account is a placeholder account. Placeholder accounts are used to create a hierarchy of accounts and normally do not have transactions or opening balances.
Equity accounts also do not have opening balances. Select each account to enter a opening balance or to make it a placeholder account. The last screen gives you a list of three choices to finish the druid. You should now have a hierarchy of accounts in your main GnuCash account window. During the verification period, constituents are encouraged to use the online Codification Research System free of charge to research accounting issues and provide feedback on whether the Codification content accurately reflects existing U.
Users are advised that the Codification content is not yet approved as authoritative and, therefore, they must verify research results using their existing resources for the currently effective literature.
After addressing the issues raised during the constituent feedback process, the FASB is expected to formally approve the Codification as the single source of authoritative U. To improve usability, the Codification will include authoritative content issued by the SEC, as well as selected SEC staff interpretations.
At that time, with the exception of any SEC or grandfathered guidance, all other accounting literature not included in the Codification will become nonauthoritative.
During the verification period, Codification content will be updated for changes resulting from constituent feedback and new standards. The Codification includes all accounting standards issued by a standard-setter within levels A through D of the current U. GAAP pronouncements into roughly 90 accounting topics, and displays all topics using a consistent structure. For example, the Notice addresses the standards and elevated guidance used to populate the Codification, the use of December 31, , as the authoring effective date, and conflicts resolved by Board decision for which the Board is requesting feedback.
The FASB expects to release such content shortly after the initial launch. The Codification Research System also includes general information about how to use the online research system and special features such as Cross Reference Reports to locate where standards reside , Join Sections to join similar Sections from multiple Topics and Subtopics into a single document , and Go To to jump directly to a specific Topic, Subtopic, Section, or paragraph.
The Accounting Standards Codification excludes governmental accounting standards. Consideration for Selection of a good Accounting package There are many different types of accounting software packages and applications currently available today.
To select the best accounting product you will first need to decide your individual and corporate needs. Small business accounting software functions much differently in many respects that accounting software manufactured as an enterprise resources planning solution for example. If you are a large enterprise or firm you will want to investigate a comprehensive enterprise solution that offers multi-user capability. If you are looking for an accounting software application for personal use, a basic accounting software program like quicken or QuickBooks or even Peachtree should easily accommodate your every need.
Most of these software programs come equipped with accounts payables, account receivables, payroll and general ledger features. Most will also generate basic reports, invoices and keep track of other expenses, assets and small financial items you may want to keep track of from day to day. Most ordinary people or small businesses however will not need this capability in a software accounting package.
When the time comes for paying the tax they invariably find themselves in trouble. Small businesses run on limited resources financial as well as man-power. The software in such organizations should be chosen with care. Decision for the best small business accounting software should rest on features like smooth functioning, scalability and learning curve.
However, all the software utility will not be availed successfully by a novice unless certain amount of self effort or training is put in by them. Survey the market for the full spectrum of small business accounting software.
Narrow down the range by selecting the possible small business accounting software. Call over the consultant of the software company to evaluate and understand what and how of the software.
At the back of your mind, just remember how the software will simplify your operations. Express your view clearly on what is being generated and how you want it. The generation and use of reports and tools should be user friendly. Assess it from the point of view of business strategy and internal organization.
System integration should be compatible with new applications. Some software requires activation. Learn to unlock it with proper technique otherwise you will find yourself locked out. Best small business accounting software should not be confused with personal accounting.
Make sure, you get an efficient time after sale service from the company in times of break-down. The technical tips to be made available as and when they occur. In fact, it is an integrated, world-class financial and business management solution. It easily connects people and processes from all areas of the business.
It is designed to easily integrate with the look and feel of the Microsoft Office programs. If you are looking to upgrade from basic accounting software, this is the product for you. Microsoft Dynamics GP is composed of features and functionality that allow you to better manage finances, sales, purchasing, inventory, CRM, payroll, reporting and more. You can easily streamline your business processes, improve business insight, and accelerate the productivity and more.
Combination the above two, you can provide yourself with tools that are needed for a richer and more supported experience. Microsoft Dynamics GP provides functionality for finances, analytics and reporting, project management, inventory and order processing, e-commerce and more.
Microsoft Dynamics GP enhances reporting capabilities. Enhanced reporting capabilities let your clients view data and publish reports on a recurring basis. Effective inventory and distribution management from Microsoft Dynamics GP will help you in delivering superior customer service with powerful inventory, distribution and order management capabilities.
You can easily streamline your business operations and will enable in collaboration among employees to save time and resources. Microsoft Dynamics GP is at once cost-effective and reliable and it is delivered by a vast network of trusted service providers and backed by extensive service and support. All these benefits have made it clear to you about the usefulness of using the Microsoft Dynamics GP in your business. It connects data from the point-of-sale to the back office and through the supply chain.
This means retailers can have improved visibility in sales transactions. The program also offers increased general-ledger visibility, which helps eliminate double entry, such as payouts, surcharges and manual inventory adjustments. Apart from developing and selling products and services, managing finances is essential for the smooth running of a business unit.
That is why accounting is called the language of business. The present day work pressures ask for unerring handling of finances and accounts. In case of small business houses, it is really important to be organized which is possibly only by adopting a good accounting software. Long-term financial goals of a business unit, requires effective management of accounting.
All in all I would say your small business accounting software just lets you be the boss of your business. For, it is just not possible to have an error free accounting manually.
In business, it is important to know from where the funds will come and go. Doing this accounting work manually is certainly going to be cumbersome and will take a hell lot of time. Broadly speaking the benefits of accounting software can be outlined as: 1. It helps you do your accounting tasks quickly. It assists you to run your business without any hiccups.
You are able to manage the flow of cash in little time. It is also possible for you to predict future bills, revenues and reports generating. But before buying accounting software for your business, certain things like what are the functionalities you want in your software must be considered for sure.
Your accounting software should resemble its traditional paper counterparts as it will help to run your software smoothly. You can explore the functionalities of the software if you are familiar with the layout. E-commerce and Internet are also important for your small business. Look for software which combines all these features.
There are many benefits of accounting software and there are many accounting software in the market as well. And choosing the best software and learning about its benefits is tantamount to learning the benefits of a small business accounting software. It is a brand in itself in the field of small business accounting software. It is a full-featured financial management program designed for companies with 25 or fewer employees.
Small business software analyzes financial data with customizable reports including Profit and Loss, Customer Transaction History, Reconciliation Detail, Check Detail, and more. You can easily judge the financial status of your business with it. Built-in features of a small business software such as cash flow forecasting tools, payroll services help to control costs and manage risks.
Most of the small businesses accounting software are exceptionally good. It is very hard to choose one or to choose the best. Top Accounting Softwares in the market Simply put, accounting is the lifeline of a business. Accounting deals with summarizing, analyzing and reporting the financial data and information about a business. An accounting software records and processes the accounting transactions of a business within its functional modules.
Financial statements consisting of the balance sheet, profit and loss account, and statement of changes in financial position can be easily prepared with accounting software. Accounting software is all about the various functional modules that it has.
Some of them are- General ledger which takes care of the company's financial dealings; Accounts Payable where the company enters its bills and pays the money it owes; Accounts Receivable where money received is entered. They are simple and inexpensive with simple functioning such as management of budgets. Such software are characterized by 'single entry' products. These software are capable of serving the needs of multiple national accountancy standards and facilitate accounting in multiple currencies.
Most of the accounting software include all the important accounting modules. The more specialized features a software has, the more expensive it becomes. Your software features must be compatible with your business. Also, the after-sales support is important like FAQ package, local service center and others. There are a lot of top accounting software available in every category. So, it is not easy to select the best ones. Below are top five accounting software in every category.
Peachtree Complete Accounting Best Software 4. QuickBooks Online Intuit 5. Small Business Manager Microsoft B. Low-End Accounting Software: 1. BusinessVision 32 Best Software 2. QuickBooks Pro Intuit 4. Vision Point Best Software C. Middle-Market Accounting Software: 1. Navision Microsoft 4. High-end accounting ERP Market: 1. Axapta Microsoft Software 2. MAS Best Software. Solomon Microsoft 5.
Also, the different attributes for different categories have been considered like for ERP software, attributes such as manufacturing solution, supply chain solution and database solution. The above compilation may not be all inclusive and some people might choose to differ with it but it is almost near to perfect list. Discuss the implementation of Accounting cycle in computerized accounting. Also explain the advantages of these methods over traditional methods.
Standardized packages h Differentiate between Single user vs. Multi user packages. Enumerate all its features j Explain codification in accounting k What are the factors to be considered for selecting a good accounting package l List some top accounting softwares available in the market. Once data is obtained next step is to process this data which is called as Data processing. Lets discuss data processing in detail. Data processing Data processing is any computer process that converts data into information or knowledge.
The processing is usually assumed to be automated and running on a computer. Because data are most useful when well-presented and actually informative, data-processing systems are often referred to as information systems to emphasize their practicality.
Nevertheless, both terms are roughly synonymous, performing similar conversions; data-processing systems typically manipulate raw data into information, and likewise information systems typically take raw data as input to produce information as output. To better market their profession, a computer programmer or a systems analyst that might once have referred, such as during the s, to the computer systems that they produce as data- processing systems more often than not nowadays refers to the computer systems that they produce by some other term that includes the word information, such as information systems, information technology systems, or management information systems.
In the context of data processing, data are defined as numbers or characters that represent measurements from observable phenomena. A single datum is a single measurement from observable phenomena. Information is defined as either a meaningful answer to a query or a meaningful stimulus that can cascade into further queries. More generally, the term data processing can apply to any process that converts data from one format to another, although data conversion would be the more logical and correct term.
From this perspective, data processing becomes the process of converting information into data and also the converting of data back into information. The distinction is that conversion doesn't require a question query to be answered.
For example, information in the form of a string of characters forming a sentence in English is converted or encoded from a keyboard's key-presses as represented by hardware-oriented codes into ASCII codes after which it may be more easily processed by a computer—not as merely raw, amorphous data, but as a meaningful character in a natural language's set of graphemes—and finally converted or decoded to be displayed as characters, represented by a font on the computer display.
In that example we can see the stage- by-stage conversion of the presence of and then absence of electrical conductivity in the key- press and subsequent release at the keyboard from raw substantially-meaningless hardware- oriented data to evermore-meaningful information as the processing proceeds toward the human being.
Techniques of Storage of Data For storing the accounting data, one may use the following techniques: Two pass verification, also called double data entry, is a data entry quality control method that was originally employed when data records were entered onto sequential 80 column Hollerith cards with a keypunch. In the first pass through a set of records, the data keystrokes were entered onto each card as the data entry operator typed them.
On the second pass through the batch, an operator at a separate machine, called a verifier, entered the same data. The verifier compared the second operator's keystrokes with the contents of the original card. If there were none, a verification notch was punched on the right edge of the card. The later IBM keypunch also could operate as a verifier. In that mode, it read a completed card record and loaded the 80 keystrokes into a buffer.
A data entry operator reentered the record and the keypunch compared the new keystrokes with those loaded into the buffer. If a discrepancy occurred the operator was given a chance to reenter that keystroke and ultimately overwrite the entry in the buffer.
If all keystrokes matched the original card, it was passed through and received a verification punch. If corrections were required then the operator was prompted to discard the original card and insert a fresh card on which corrected keystrokes were typed.
The corrected record card was passed through and received a corrected verification punch. Modern use While this method of quality control clearly is not proof against systematic errors or operator misread entries from a source document, it is very useful in catching and correcting random miskeyed strokes which occur even with experienced data entry operators.
This method has survived the keypunch and is available in some currently available data entry programs e. Capitalizing the Data Warehouse An asset is something that will have value in future periods, and the data warehouse if it is any good certainly fits into that definition. Companies capitalize their enterprise resource planning ERP systems and the guys with the green eyeshades don't object. Why not do the same for the data warehouse?
A number of us have long maintained that the data warehouse DW is a real asset that has significant value to an organization -- some of us even believe that the DW will make the difference between a company living and dying. Because the DW provides value in future periods, it represents an intangible asset that should be capitalized on a company's balance sheet along with the tangible assets of cash, accounts receivable, inventory plant and machinery.
Current and Future Accounting Rules The current financial accounting rules are heavily criticized as not reflecting the true value of IT assets such as those of the ERP systems and data warehouses. Under the current rules of the Financial Accounting Standards number and , a data warehouse, as an intangible asset, could be capitalized at its fair value only when a company with an internally built data warehouse is acquired by another corporation.
Thus, the CIO would be rewarded for managing a high value asset only when the data warehouse has been purchased. Today, a company with an internally created data warehouse would be shown as an intangible asset only at its capitalized historical cost. This historical cost probably does not capture the fair value of the completed project, nor does it capture all the costs associated with the data warehouse.
The current accounting system in the United States allows one company to show a high value on the data warehouse that was purchased and a second company to have a lower value on a data warehouse that was internally developed. Thus, the company is not able to reflect the fair value created by the successful implementation of an internally developed data warehouse.
The Financial Accounting Standards Board FASB is working on a new standard to address the comparability issue between companies that have purchased data warehouses and companies that have built a data warehouse internally. The first step is a proposal to disclose in the footnotes of the financial statements the quantitative value of the substantially built up intangibles in a business.
The eventual goal is to book the intangible assets at their fair value to allow the financial statements of different entities to be comparable and, to address our interests, for companies to accurately reflect the asset value of a data warehouse. More than 90 countries have moved to the IAS standards in the past year, including all of Europe. The IAS standard No. In most situations, this rewards management for successful efforts in creating and maintaining a data warehouse.
What Did the DW Cost? The expenses for any DW will vary widely. It's necessary to understand how costs will be accounted for. Some costs will be expensed immediately and others amortized over the expected life of the system.
Costs will appear in different accounts, and all these factors will become important when the actual total costs are tabulated and the DW is capitalized.
The accounting approach to classifying the costs as current expenses or capitalized as assets is a three characteristic definition. If the associated costs fail any of the characteristics, then the cost should be expensed under current accounting rules. The first characteristic is future benefits. The future benefits are defined as the capacity, singly or in combination with other assets, to contribute directly or indirectly to future net cash inflows.
The second characteristic is whether the enterprise has control. Control is defined as the ability to both derive future benefits and to deny that ability to others. The third characteristic is that the cost accumulation is based on a past event or transaction that gives rise to the future benefit. Hardware: For the data warehouse, you will need CPUs, disks, networks and workstations.
If existing desktops and laptops are adequate to support end users, no additional costs should be charged; however, if upgrades or new machines are required, the additional costs should be assigned and depreciated over the expected life of the system. Three years is often used as the expected life, even though the system will probably last longer.
The calculation is the cost to purchase or upgrade times the number of anticipated users. The cost of the hardware should always be capitalized. Most installations employ end-user access and analysis tools such as BusinessObjects, Cognos and MicroStrategy. Add-ons with the ETL tools could include additional costs for each different type of source file or target database. These tools are often priced based on the operating system and size of the machine.
Additional tools are often needed for data cleansing and performance monitoring. Initial software costs should always be capitalized. Internal Staff: The fully burdened rate salary plus taxes, benefits, support costs, etc. Business personnel are usually not included in calculations for personnel costs, but any help desk staff in the business organization should be.
Include the fully burdened costs of the people on your project and capitalize these costs. Consultants and Contractors: Consultants are engaged to help determine requirements, help plan the project, and create the scope agreement, cost justify the project, help select the software, and establish the initial and long-term architectures.
Consultants are typically more expensive than contractors but usually don't remain on projects as long. Contractors are brought in to supplement technical skills, specifically for software such as the database management system DBMS. The cost for contractors will be dependent on how deficient the organization is in the required skills, how fast the organization needs the system implemented and how long it will take to transfer skills once the implementation is complete.
Training: You could make a case for the value of training, the intellectual capital, the knowledge and the increased capability of those who went through the training becoming an asset that would have value in future periods; however, because of employee turnover and other factors, accountants are reticent to claim the value of training as an asset.
Training costs should be expensed as they are incurred and should not be capitalized. Training fails the control test for being a capitalized asset. There are past expenditures for training and probable future benefits, but without enforceable work contracts, there is no entity control of specifically trained labor.
Operations and System Administration: This is a grab bag of roles and costs including monitoring the system performance, executing backups, administering security, administering the Meta data repository, dealing with the vendors and assigning charge-backs. The initial costs for operations and systems administration should be capitalized. The ongoing costs of both operations and system administration should not be capitalized unless there are major enhancements because this represents day-to-day operations and not probable future benefits.
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