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Application of Ict on Accounting - 4286 Words

Applications of ICT in Accounting. Accounting records have been maintained only on a manual basis for a period now. The bookkeeper or the owner is required to fill a paper source document for each sale or receipt, and then work overtime writing the transactions of the day or week in special journals, stock cards, and debtor and creditor records. This obviously took some time, time that would otherwise have been spent operating the business. The business also pays extra money to account officers as overtime bonus. Consequently, completing the accounting records was sometimes seen as an impediment to business, rather than a tool of making it more profitable. However, the development of computerized accounting systems has changed the way†¦show more content†¦Spreadsheet A spreadsheet is a computer application with functions that increase the users efficiency in capturing, analyzing, and sharing tabular data sets. They were mainly developed for accounting or bookkeeping tasks, but can also be used comprehensively in any context where tabular lists are built, sorted, and shared. It displays multiple cells usually in a two-dimensional matrix or grid consisting of rows and column. A modern spreadsheet file consists of multiple worksheets that make up one workbook. A cell on one sheet is capable of referencing cells on other, different sheets, whether within the same workbook or even, in some cases, in different workbooks. Examples of spread sheet are excel, SPSS, Siag, libreOffice Calc, and Gnumeric Spreadsheets generally save a lot of your time irrespective of its use; that is to track expenses, cash flow, project tax or inventory. It helps in analyzing lease or hire purchase and capital project appraisal decisions. For instance the formula in Excel helps to maintain a trouble free report of all the transaction details. People from various sections of an organization having to handle the same document file can do so easily. If the cashier has to enter the amount he collected and forward it to the operations manager. Then the operations manager will forward the same to the accountant. We have several options to share the document and compare it using the Microsoft Excel. Also it has got in-builtShow MoreRelatedImpact of Ict on Accounting Practice in Nigeria1663 Words   |  7 PagesThe impact of ICT on accounting practice in Nigeria CHAPTER ONE Introduction 1.1  Ã‚  Ã‚   Background of the study   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In the recent past centuries, before the inception of Information and Communications Technology (ICT), the accountants of an organization were using a socially acceptable behavioural method of reporting accounting and economic reports, carried out during accounting year ends, the preparation of accounting records, book such as the profit and loss account, the balance sheetRead MoreEssay on Financial Accounting1019 Words   |  5 PagesFinancial Accounting Financial accounting or ‘book-keeping’ is the process of recording financial transactions from the day-to-day operation of a business. The sale of goods to a customer and the subsequent settlement of the debt are two examples of financial transactions. 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Finance and accounting department head, this employee manages the areas that are in coherence with accounting, budget and consolidation. They make sure that the business has enough capital to conduct their day to day activities and they have enough money to pay their employees. Next in line there is a H R departmentRead MoreTransformiing Healthcare Using Ehealth929 Words   |  4 PagesTransforming Healthcare using e-Health The world is rapidly digitizing and almost every industry is going electronic; e-Commerce, e-Procurement, e-Banking, e-Accounting†¦etc. The Healthcare industry has not been left behind. e-Health is the use of Information Technology Communication to advance health delivery services. This relatively new term is catching up like wild fire particularly when the developing countries are target and priority. As a developing nation, we cannot ignore thisRead MoreThe Importance of Information Communication Technology in Teaching and Learning of Accounting Education2493 Words   |  10 Pagesuse of Information C ommunication and Technology (ICT), w hich is becoming an essential t ool i n t eaching and learning v arious courses which accounting courses are included. V arious r esearches h ave s hown that these tools have a great impact on the t eaching and learning of accounting courses. A s a result of that, this paper a ims to investigate the relevance of ICT in effective teaching and l earning of a ccounting courses, t he concept o f ICT is also ex amine, as well as t he m eaning o fRead MoreRegulatory Compliance Controls1712 Words   |  7 Pageshelpful for an evaluation of practical implementation of internal controls as they are referenced in SOX. Bedard, J. C. and Graham, L. (2011). Detection and severity classifications of Sarbanes-Oxley Section 404 internal control deficiencies. 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This leads to new opportunities as well as threats for businesses as the theyRead MoreWobbly Wheels Distribution Center - IT Strategic Plan Part 1 Essay949 Words   |  4 PagesFinally, there should be emphasis on innovation, for example, the development of new goods and services. As per the current situation, the company has a lot on ongoing projects with some nearing completion like Accurate Financial. A mobile phone application is also being developed to be used by the company on prospective customers. IT Vision and Mission Statement A mission statement usually gives a summary of a certain organizations beliefs, values and their standard of operations. Since WobblyRead MoreApplication Of Accounting Information Systems Essay1556 Words   |  7 PagesIntroduction The application of Accounting Information Systems has become widespread among enterprises in Australia due to improved affordability and efficiency resulting from their technical power. 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Attribute Of The Products Essay Example For Students

Attribute Of The Products Essay The Brand/Product:1.Attributes: The attributes are the products primary characteristics, both physical and functional. They are what the consumer might recognize first about the product through the five senses. The physical attributes are what make the product what it is. They are scent, texture, package, contents, variety and price. The functional attributes are shown by how the products work. They include sun protection, moisture for the skin and an attractive promotion. 2. Benefits:Benefits are what the actual product attributes can do for the consumer. It is important to make these benefits different from the competitions. Each physical attribute possesses certain benefits that satisfy the consumers wants. The scent of our product is what makes our lotion so different. None of our competition brands have a scented sun tan lotion on the market that is targeted at our segment; the only other is Coppertone Kids varieties (5). Our lotion comes in a very appealing scent that makes the consumer feel comfortable and excited about putting sun tan lotion on their bodies. There is no overbearing or strong oily scent like some lotions, and there is no fake odor like the coconut tanning oils that are on the market today (1). All of this was taken into consideration when we came out with our light, refreshing and mild- scented fragrance called Summer Rain. All of our varieties of lotion will be in this scent because it is one that can be appealing to all differ ent types of people, not just our target market. The texture is non-oily and does not feel too heavy on the skin. This is important because when people use our product, they will be pleased that they do not have to worry about clogs pores that may lead to acne. It also leaves the skin feeling healthier because of the natural moisturizers. Our lotion comes in three different varieties for different skin types. We have lotion for normal skin, dry skin, and oily skin. Each lotion has certain amounts of Vitamin E, aloe and vera and other moisturizers so that the skin will always return to its natural balance as it is used (4). The contents of our product are always organic and pure. We use only the finest and botanical ingredients, all carefully tested for purity and effectiveness. (4) This makes the product safer to use for the consumer and for the earth. It is clean and refreshing, not oily and irritating. Plus, we keep in mind the earth and all creatures by never testing on any animal. This is important with the current market trend of products that are pure, safe, and friendly to animals. (4)The package is also another factor that defines Herbal Essence. The clear bottles allow the consumer to see the purity of this product. This feature also allows brand loyal customers to easily identify our product by its signature clear bottle. Sun protection is a big issue today with the wide spread fear of skin cancer. Our lotions include the ingredients needed to protect the suns UV rays (2). Each SPF is recommended by the FDA for certain skins and how they burn or tan. For example, our SPF of 4 is for those who do not burn much and tan quite easily (3). The SPFs offered are 4, 8, 15, 30 and 45. The price of our product allows an affordable and competitive way to protect the skin and, but without sacrificing quality or quantity. The sun tan lotions on the market today have a price trend of between $3.79 to $11.99 (1). We offer our lotion in two sizes: 4oz and 8 oz, which should retail for $5.19 and $7.95 respectfully. We feel comfortable with these prices because we place our selves around the middle of the pack, but we do not want to be identified as a cheap brand. We want our customers to know that they are buying a high quality product. .u8e690735649b83a19b1ea5f78442fadf , .u8e690735649b83a19b1ea5f78442fadf .postImageUrl , .u8e690735649b83a19b1ea5f78442fadf .centered-text-area { min-height: 80px; position: relative; } .u8e690735649b83a19b1ea5f78442fadf , .u8e690735649b83a19b1ea5f78442fadf:hover , .u8e690735649b83a19b1ea5f78442fadf:visited , .u8e690735649b83a19b1ea5f78442fadf:active { border:0!important; } .u8e690735649b83a19b1ea5f78442fadf .clearfix:after { content: ""; display: table; clear: both; } .u8e690735649b83a19b1ea5f78442fadf { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u8e690735649b83a19b1ea5f78442fadf:active , .u8e690735649b83a19b1ea5f78442fadf:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u8e690735649b83a19b1ea5f78442fadf .centered-text-area { width: 100%; position: relative ; } .u8e690735649b83a19b1ea5f78442fadf .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u8e690735649b83a19b1ea5f78442fadf .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u8e690735649b83a19b1ea5f78442fadf .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u8e690735649b83a19b1ea5f78442fadf:hover .ctaButton { background-color: #34495E!important; } .u8e690735649b83a19b1ea5f78442fadf .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u8e690735649b83a19b1ea5f78442fadf .u8e690735649b83a19b1ea5f78442fadf-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u8e690735649b83a19b1ea5f78442fadf:after { content: ""; display: block; clear: both; } READ: Beowulf Vs Grendel EssayThe last important benefit or our product is its great variety. We offer three textures for different skin types, five different SPFs, in two sizes. This gives our customers great selection in how they want their skin to be protected. 3. The Most Levergable Benefits and Attributes Versus The Competition: ? Scent- Herbal Essence is known for their extra refreshing botanical fragrances more than any other brand. ? Organic and pure contents- The consumers now want safer products for the environment. Our competition does not offer organic products. ? Variety- The consumer has a great selection in texture, protection, and size of how they want to purchase their Herbal Essence sun tan lotion. ? Price- The consumer can buy a high quality product at a reasonable price, something that is rare today. SBibliographyources: note: these spaces in the addresses are underscores1. www.planetrx.com/product/nonrx/shelf/info/200440149-6_introduction.html2. www.planetrx.com/product/nonrx/shelf/add_info/200440149_ingredient.html3. www.fda.gov/fdac/features/sunchart.html4. www.clairol.com/products/hrbalnoframes/herbalbody/herbalbody.html5. www.planetrx.com/product/nonrx/shelf/topbrands/200440149_filter_193.html#shelfBusiness Reports