Abstract This paper lays out the foundation for the accounting information system (AIS) initiatives. It takes into account the present and ongoing developments in technology and its effective and innovative use in business. The paper starts with building and reinforcing the basic security infrastructure and foundational areas to ensure the achievement of long-term objectives and proceeds to improvement and development of the core information system - the AIS.
Table of Contents:
Executive Summary
Information Security
Business Continuity Planning (Bcp)/Disaster Recovery Planning
Impacts Of Privacy Considerations On The Accounting Information System
Health Insurance Portability And Accountability Act
Why the HIPAA in AIS?
Sarbanes-Oxley Act Of 2002
Due Diligence and Corporate Governance
The Ais And New And Emerging Technologies And Processes
Coverage Of The Ais
E-Business Technologies
Business-to-Business (B2B) and Business-to-Consumer
Advantages of B2B and B2C
Disadvantages of B2B and B2C
Batch And Real Time Transaction Processing 4.4. Electronic Data Interchange
The Essential Elements of EDI are
Extensible Business Reporting Language
Usage and Benefits
From the Paper "Today's commerce and industry increased its global competitiveness through the implementation of information technologies. The availability of various supplies over demands helped leverage customer expectations, and businesses reacted to this modern trend by reengineering their processes and methodologies while reorganizing their corporate organizational structure to meet the growing needs of modern business. Whereas a person used to go to the mall to buy something, nowadays at a touch of a button, anything - or everything can be had via the Internet; thus Internet e-commerce or e-business was born."
Tags: corporate, organizational, ICT, communication
This paper is a critical thinking case study about a fictitious company known as AcuScan, Inc., which makes IScanner, a retinal scanning security product.
Abstract This paper explains that the case problem is that AcuScan wants to make the transition into the retail market with a new product while maintaining its traditional product quality and excellent work environment. The author identifies the conflict among the company managers and the budgetary restraints. The paper concludes that the new project needs long range rather than the discussed short-term marketing goal; however, a better idea would be to try and find new markets for the existing product IScanner.
From the Paper "The CEO Cliff made a logical decision based on AcuScan's current position in the market and present financial condition and future outlook. However, it seems a little optimistic to believe that it would be possible to launch and develop a new product on a small budget, when the company is facing a budget crunch. Pat's suggestion that the new product needed to be launched in a new market was sound. It is better to be the first to launch a new product in a new market than to be last to launch an old product in an old market."
Abstract In this article, the writer explains that e-commerce involves trade of goods and services that takes place electronically such as over the Internet. The writer notes that GUILD is a fictitious company dealing with artifacts, jewelry, books, paintings and other artwork, which has made a strong Internet presence. This assignment explores e-retailing business in general and e-retailing business of GUILD in particular. The writer concentrates on the retail-marketing sector and chooses a company that operates in this sector. An attempt is made to assess how this company has implemented e commerce in its day-to-day operations and how it has benefited by implementing e-commerce model in its operations. An overview of e-commerce is provided. A detailed strategic and marketing plan is drawn using various tools such as Porter five force, PESTLE, SWOT and key success factors.
Outline:
Introduction
E-Commerce an Overview:
Retail Sector Overview
Porter Five Forces
PESTEL Analysis
Social/Cultural
Economic
Legal/Political
Technological Issues
Company Profile
Mission Statement
History
The Team
Company Products
Web Presence
Benefits of e Commerce to GUILD
Current Status of E-business in Retail Marketing
Current Players and Competition
Critical Factors for E-Commerce
Elements of E-Commerce
E-Business Transaction & Security
Limitations of E-Business
Technical Limitations
Non-technical Limitations
E-Business Models for GUILD
SWOT Analysis of GUILD
E-business applications for GUILD
Products Offerings
Promotional Strategy
Customer Relationship Management
Returns Policy
Customer Service
Outsourced Delivery
Price
Technology
Mix Text-Based User-Friendly Interface Design
Website Design Technology
Security
Key Success Factors
Conclusions
From the Paper "Culture trends present both threats and opportunities for a firm. The retail industry is a customer. The industry must understand that the buying power of baby boomers and teenagers has grown. Parents are busy and are entrusting their children with more money to use and buy what is needed. There are also a number of cultural trends that must be followed. Cocooning refers to customers who retreat into their safe, cozy "homelike" environment. This boosts sales in the catalogue and on-line shopping areas. Another trend is called Down-aging. In this situation, customers search out precuts that are symbols of youth, renewal and rejuvenation to offset the routine and intensity of their adult lives. Both these trends provide ample opportunities for the retail industry."
Abstract This paper presents a brief financial analysis of the Exxon Mobil Corporation, which ranks second on Fortune 500's list of America's largest corporations. The paper specifically conducts a ratio analysis and trend analysis for Exxon Mobil in order to analyze statistics for a given period and to provide insight into the company's long-term financial situation.
Outline:
Current Ratio
Quick (Acid-Test) Ratio
Inventory Turnover
Average Collection Period
Total Asset Turnover
Debt to Equity Ratio
Net Profit Margin
Price to Earnings Ratio
From the Paper "Inventory Turnover is an important ratio that reveals the number of times the average inventory is completely swapped-out, with a higher number indicating better efficiency at moving product. It is calculated by dividing cost of goods sold by average inventory (beginning + ending inventory divided by 2). Exxon Mobil reported, in millions, $284,334 and $281,658 for cost of goods sold; as well as 9404 and 10018 in average inventory, respectively, for the years 2005 and 2006.
"The resulting ratios are 30.24 for 2005 and 28.12 for 2006. This indicates a decrease in the rate of inventory turnover, but may not by itself indicate any particular problems; since many external factors may influence this ratio."
Abstract This paper examines the Sarbanes-Oxley Act of 2002 (SOX), a federal law that was passed largely due to accounting scandals involving several large, publicly-held companies, two of which were Enron and WorldCom. The act is also referred to as the Public Company Accounting Reform and Investor Protection Act of 2002. The paper maintains that one of the more important provisions of the act was the establishment of the Public Company Accounting Oversight Board (PCAOB), whose five board members are appointed by the Securities and Exchange Commission (SEC) and are responsible for overseeing the public accounting profession. SOX, and the subsequent PCAOB, have sought to dramatically reduce the impact of corrupt business practice, primarily through tougher regulation of accounting and auditing procedures and mandatory involvement by two of a corporation's top officers. The paper concludes that, while many would not consider it the ideal solution, ethical behavior must often be legislated.
Outline:
Auditors
Corporate Officers and Directors
Disclosure Requirements
Conclusion
From the Paper "Potential loopholes aside, auditors are now held to a much higher standard legally. Vast restrictions are placed on the number and type of services an auditor may perform in addition to the act of auditing. This makes considerable sense, given that an auditor that provides accounting consultation services to a corporation would be far more inclined to act in a biased manner when auditing his own work. The restrictions are numerous, but the intent remains the same; to preclude any perceived or actual conflicts of interest where the auditor-client relationship is concerned."
Abstract This paper explains that, as the second largest retailing book store in the U.S., Borders has large financial resources to implement its strategies. The author states that Borders' strategic plan is to redirect business revenue from stock holders and dividends and back into the business. The paper relates that, with the added cash flow, marketing efforts will be increased and directed at women and baby bombers in an effort to attract these larger demographics. The author anticipates an increased market share and double digit growth over a 24 month period. The paper compares Borders with its major competitor Barnes and Nobles, which is the largest book retailer in the U.S., suggesting that Borders carries more titles from smaller publishers or self-published books in small quantity. The paper includes detailed accounting tables and an annotated bibliography.
Table of Contents:
Executive Summary
Business Description
Ownership and Management
Key Initiatives and Objectives
Marketing Opportunities
Competitive Advantages
Marketing Strategy
Summary of Financial Projections
Confidentiality
Recognition of Risk
Business Overview
Business History
Vision and Mission Statement
Objectives
Ownership
Location and Facilities
Products and Services
Description of Products and Services
Key Features of the Products and Services
Production of Products and Services
Future Products and Services
Comparative Advantages in Production
Industry Overview
Market Research
Size of the Industry
Key Product Segments
Key Market Segments
Purchase Process and Buying Criteria
Description of Industry Participants
Key Industry Trends
Industry Outlook
Marketing Strategy
Target Markets
Description of Key Competitors
Analysis of Competitive Position
Pricing Strategy
Promotion Strategy
Distribution Strategy
Management and Staffing
Organizational Structure
Management Team
Staffing
Labor Market Issues
Regulatory Issues
Intellectual Property Protection
Regulatory Issues
Risks
Market Risks
Other Risks
Implementation Plan
Implementation Activities and Dates
Financial Plan
Beginning Balance Sheet
Discussion of Projected Net Income
Discussion of Monthly Cash Flow Statement
Discussion of Projected Annual Cash Flow
Discussion of Pro-Forma Balance Sheet
Discussion of Business Ratios
Pro Forma Income Statement
Cash Flow Statement, Year 1
Three Year Projected Annual Cash Flow
Balance Sheet
Business Ratios
Note 1: Revenue Assumptions
Note 2: Assumptions Regarding the Collection of Sales Revenue
Note 3: Cost of Sales Assumptions
Note 4: Sales and Marketing Assumptions
Note 5: Property and Utilities Assumptions
Note 6: Operations Assumptions
Note 7: Banking and Other Assumptions
Note 8: Wages and Other Assumptions
Note 9: Other Sources of Funding
Note 10: Other Uses of Funding
From the Paper "In order to boost sales and attract new customers. Borders would use different types of promotional tools to achieve that. We would focus our advertisement on newspaper and magazines that related to retirement and health. The reason is because these channels allows us to reach our target market -- baby boomer. In addition to the advertisement, we also include discount coupons, and special deals when they visit our stores on certain day. Advertisement would also be used when there's new stores open. For our Borders Rewards Club, we hold regular events and book signing. The purpose is to get more attention from the public and get more people come to our stores."
Abstract This paper examines the Enron collapse and scandal and looks at how Enron was able to conceal its negative debt from its accounting books. The paper also looks at what segment of the population was hurt most by the Enron collapse and explains why the executives at Enron responsible for what has been deemed the worst case of deception, greed and fraud in the history of Corporate America, should be prosecuted by the US Department of Justice.
Outline:
Enron's Employees
How Did It Manage To Conceal Debts
Enron Investors
Political Connection
Conclusion
From the Paper "Enron's bankruptcy then took the world by complete surprise, as this was not only the biggest collapse in the United States in recent years, it was also the fastest. Before filing for bankruptcy in December last year, Enron was the seventh largest company of the United States as it turned its businesses into monopolies by dominating all areas of its various operations. But a company that looked so powerful only a year ago collapsed dramatically when one of its accountants began raising questions about those shady transactions which had managed to conceal the company's negative debt position from its accounting books. But slowly and gradually Enron's problems began unrolling in front of the public and it became clear that all the profits shown by the company were simply an illusion. "
From the Paper "Statistics have shown that juries and other legal officials favor eyewitness testimony; however, this testimony is highly inaccurate. In order for this form of testimony to assist in the conviction of the defendant, extensive measures must be taken for proper identification. Current research, as reported by A. Mike Bruce, Stephen Wilson, Michelle Cowan, and Vicki Bruce, in ?Face Recognition in Poor-Quality Video: Evidence From Security Surveillance,? examines the relationship between face recognition and the quality of security surveillance videos."
Abstract This paper provides a brief analysis of Electronic Data Systems (EDS) business-to-business E-business solutions. A company as well as an industry analysis is provided, including strategy, strengths, weaknesses and a financial analysis. The paper shows that since most IT services companies are isolated from the overall economic cycle, EDS should remain strong in the future. The company is well positioned to take advantage of future opportunities, the paper argues, based on its continued history of long-term contract management experience and high customer retention rates.
From the Paper "Business and technology are in the convergence process, spawning a surge in the IT services industry and providing numerous opportunities for those firms who are situated to handle the large influx of potential business. These opportunities have been brought about by several factors in the economy of the past decade."
Company Profile
Historical Background
The EDS Timeline
Corporate Leadership
Company Strategy
EDS? Industry Performance
Corporate Milestones
Significant Contracts
Abstract This paper discusses the challenges, the current status and the future of Chrysler Financial.
From the Paper "Chrysler Corporation was incorporated in Delaware on June 6, 1925, as a successor to the Maxwell Motor Car. Walter Chrysler became Chairman of the Board and President. In 1925, the company introduced the Chrysler Four, Series 58 with a top speed of 58 mph. More than one million people visited showrooms in the first four days the corporation displayed the new automotive wonder. By the fall of 1925, more than 3,800 dealers were selling Chrysler cars and, by 1926, the corporation had risen from 57th to fifth place in industry sales. Chrysler expanded into electronics and aerospace activities and enlarged its international operations in the 1980s. In 1984, the company reported its best earnings year ever and reorganized itself into a holding company made up of four operating divisions -- Chrysler Motors, Chrysler Financial, Gulfstream Aerospace and Chrysler Technologies."
Abstract This paper discusses the development and structure of the Korean Banking system, provides a contrast with the banking system in the United States, and then uses this research to discuss the difficulties leading up to and since the Korean monetary crisis.
From the Paper "Like their counterparts in countries having more advanced economies, Korean banks have gone through a process of deregulation sparking financial innovation and structural chances. Korean banks have become gone from traditional banking to full service financial institutions, offering securities business and a variety of fee-based activities considered outside their interests only a few years ago."
Abstract In this paper the author assumes that he had invested $10,000 in Boeing Inc. over a certain period and analyzes his investment. The author makes particular reference to the World Trade Center bombings and their effect on the airline industry.
From the paper:
?When you put all of these factors together in the big picture, it appears that the airline industry is like no other. The cost of goods rises and falls. As everything is done by contract, the inventory carryover is low or non-existent. The sales and revenues are influenced by how many people are flying.?
Abstract This paper is the examination of findings of the Security and Exchange Commission's (SEC), Blue Ribbon Committee (BRC) that was formed in September of 1998 to address concerns about various accounting practices. The committee's report, detailing their ten recommendations and the results they hoped to achieve, are examined in detail. The report was issued in February 1999, an since then several rules, regulations and standards have been enacted in the spirit of the committee's recommendations.
From the Paper "The Blue Ribbon Committee's report entitled Report and Recommendations of the Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees was issued in February 1999 and consisted of two sections (Grant Thorton). First, ten recommendations for actions to be taken by regulatory or standard setting bodies, such as the AICPA, SEC, NYSE, and NASD were presented (Grant Thorton). Second, five guiding principles for best practices that may be used by companies as building blocks in developing audit committee processes and practices were discussed (Grant Thorton). "
Abstract This paper summarizes the ASB exposure draft on Consideration of Fraud in a Financial Statement Audit. This draft, which supercedes SAS 82, introduces new concepts and requirements to assist the auditor in detecting fraud. It discusses the definition of fraud, identifying risk of fraud, and general assessment of fraud risk. The summary outlines the appropriate response to each fraud risk identified through the analytical process, including evaluation of implications.
From the Paper "As the need for new standards and ways to look for this fraud got stronger, the AICPA auditing standards board (ASB) responded by issuing an exposure draft on Consideration of Fraud in a Financial Statement Audit. This exposure draft would supersede SAS 82, which is the current standard for detecting fraud in an audit. The exposure draft was not meant to change any of the auditor's responsibilities in a financial statement audit but rather introduces new concepts and requirements to assist the auditor in detecting fraud. Some of the major areas that the exposure draft discusses are the description and characteristics of fraud, discussion of fraud and professional skepticism, a wider range of inquiries, identifying and assessing risks that can result in fraud, evaluating programs and controls and responding to the results of the assessment. "
Abstract The paper deals with the issue of who pays taxes on employee benefits that are transferred in a divorce agreement. It covers stock options, IRA's, qualified plans and QDRO's.
From the Paper "The issue of how to treat alimony for tax purposes comes up pretty frequently. The basic rule is that the person receiving the alimony payment must include it in their gross income and the person making the payments gets a deduction for their adjusted gross income. The IRS then goes on to clarify what payments made between the former couple are considered alimony. The IRS says that to be alimony there cannot be an agreement that the payment is not alimony, the two former spouses cannot live in the same household, there is no contingent liability to make payments after the death of the payee's spouse and that the payment must be in cash. Any transfer of property other than cash to a spouse under the divorce decree or an agreement is not a taxable event. The transferor would not be entitled to a deduction and the transferee does not recognize income."
