Problem
You will learn how accountants use an accounting system to guarantee the integrity of their financial data. You will evaluate various accounting systems as you respond to the questions in the Module Six Worksheet Template provided in the What to Submit section. Think about how a small business might only have one or two QuickBooks users, whereas a large business might have hundreds using SAP or Oracle.
In particular, you must meet the following criteria of the rubric.
1) Describe the precise calculations that an accounting system makes available to prevent mistakes.
2) Identify potential data security concerns.
3) Describe how a time-saving accounting system works.
4) Describe the means by which a system for accounting allows for the division of labor.
5) Describe the advantages of using an ERP system (such as Oracle or SAP).
6) Describe the advantages of a low-cost system, such as QuickBooks.
7) Describe how an accounting system can assist you in locating financial data anomalies or variances.
8) Describe the reasoning behind your determination that the variance in the financial ratio was two times greater than the usual balance. Assume that the variance in the calculated financial ratio is two times the typical balance of accounts receivable.
9) Justify the reason for the ratio's decline. During this time, the current ratio for a small business with a normal current ratio of 1.95 is only 1.45.