Essays on Business Transaction

Part A - The impact of accounting on the IT Development 4

Part B – Question 1 - Introducing or Upgrading Computerized Accounting Systems 5 (a) Advantages and Disadvantages of using a Computer Accounting System 5

Advantages 5

Disadvantages 5 (b) Considerations when setting up a Computerized Accounting System 6

Completion of an Accounting Cycle 6

Recording all Transactions from Manual Trial Balance 7 Running a Trial or Testing Phase 7 Verification of the Computerized Accounting System 7 (c) Chart of Accounts and Coding Structure is Followed by Impetus Limited 8

Part B – Question 2 - Accounting Packages 8

(a) The Features of an Accounting Package 8

Security 8

Reporting 9 Interdepartmental Operations 10 (b) ‘Module’ in an Accounting Package and its Purpose 10 (c) ‘Integrated’, ‘Semi-Integrated’ and ‘Non-Integrated’ Modules ...

Information Technology Infrastructure

Information Technology Infrastructure

Introduction

Information technology infrastructure is a combination of network, hardware, software, facilities and other services that are required to manage, control, and deliver the operations of information technology. It is comprised of computer systems, networks, software applications, data storage, servers, and other components. It helps to manage the internal business operations of any organization. Information technology infrastructure consists of different hardware like computers, printers, routers, hubs, scanners, data centers, and others. The management of different software’s like enterprise resources planning (ERP), Oracle, customer’s relationship management (CRM), and others is involved in it. It is divided ...

It is evident that people interact in a routine basis especially during daily business contact. In this case, conversation between an attendant and a customer may not only be unlimited to the professional contact but also reveal other interpersonal relationships. In anthropology, human contact during business transaction creates a sweep of interest whereby the study of humanities – in terms of culture, biological as well as social aspects – can be studied. Therefore, service encounters provide a unique platform for researchers to determine the social influences of various people especially when studying the starting remarks, uptakes, and closing remakes of conversations. ...

Trend

Mobile shopping is an emerging trend in the retail industry. It involves the use of mobile applications by both customers and retailers to transact the business of buying and selling goods respectively.

Relevance to the Retail Industry

The use of mobile sites to carry out business transaction is relevant to retail industry in that both retailers and customers are being involved in a business transaction using the mobile sites. Therefore, this is an e-commerce transaction in which customer visit retailers mobile sites and do shop without the need to visit the retail stores physically. In most cases, the customers use mobile phone applications offered ...

Introduction

Asia is expected to become the second leading region for B2C eCommerce sales globally by the year 2018, second to North America, with an average sale of approximately 37.4% (Econsultancy Asia, 2014). The significant growth in this sector would be attributed to the high rate of urbanization within Asia, an increase in the number of active internet users within the Asian continent as well as mobile technological development. Other factors include an increase in the level of social commerce, growing consumer spending, changing trends in eCommerce payment solutions and cross-border trade.

Assumptions underlying the future development of a successful e-commerce business in Asia.

Asia is a densely populated continent with an ...

The Anglo-Saxon approach in the management of companies and organizations takes a different approach as compared to the model of French speaking people. Herremans and Isaac (2005) argue that while the French companies experience a highly context paced environment; the Anglo-Saxon counterparts adopt a highly formalized system that is full of factual management and decision making from a structured system of government. The case study of Lemma seeks to understand the cultural performance and the repercussions that were overseen as a result of adopting the Anglo-Saxon approach in its governance. This paper takes into consideration various factors and scenarios that are reminiscent in the ...

Business Relations between the United States and Japan

The globalizing economy is a constantly growing worry in the minds of today’s businesspersons. How we relate and communicate with other countries can dictate whether we are able to do business together, or whether we have to look for other resources. In order to be successful when building business relations with businesspeople of other cultures, it is important that we understand the customs of that culture. Japan, for example, is a very different country than the United States. When the U.S. attempts to do business with Japan, we need to consider many different aspects of the country. We must understand ...

Introduction

With the emergence of a global competition, every business faces a challenge to capture more market share by improving the bottom line of its financial statements and reinvesting much of the earnings to expand operations. For this organizations implement tight internal controls so that none of the business transaction goes unchecked. In this regard, an auditor’s role is critical to track any possibility of fraudulent activity within the business finance. With such a concept in mind, this paper has been written to identify the roles and responsibilities which an internal auditor assumes within an organization. The major focus of this ...

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Ethics is an important part of transacting business. It is vital to walk the talk where ethics is concerned. It is not sufficient that ethics be present and restricted to publish codes of practice, which are distributed to the employees and they are trained in the code of practice. Organizations as large as Comcast and Price Waterhouse Coopers (PWC) were under severe criticism for a reported illegal termination of a PWC employee. Ultimately, the violation of ethics brought Comcast Corporation to its knees when they carried tales about Conal O’Rourke to his ...

Mobile Payment: An Introduction

The mobile payment consists of all modern electronic technologies that are present to the customers in addition to all the payment transaction carried out by the payment service provider. According to Kruger (2001), the mobile-based payment systems are meant for various business transactions that are performed through the cellular phones (Kruger, 2001). It is also called as a mobile payment system (MPS), as “any conventional or new payment system which enables financial transactions to be made securely from one organisation or individual to another over a mobile network” (Shon & Swatman, 1997). In view of the large number of cellular phones ...

Introduction

In existing period of time, due to the increasing intervention of technology in business practices, the norms and trends of business operations have been changed quite significantly. Nowadays, internet has become one of the major aspects of business practices undertaken by business organizations. The presented paper is directed to reveal some crucial information regarding e-commerce business operations and different measures undertaken by small scale business organizations for preventing risks associated with their e-commence related business activities.

Advantage and disadvantages of undertaking small business through online measures

Internet can be proved one of the most effective ways through which a business organization can approach its customers and sell its products to ...

International transactions and resolution of disputes requires an understanding of existing law as well as consideration of foreign culture, politics, decision making approaches and both formal and informal power structures. Melvin (2011) argues that international contracts should be legally binding and enforceable. Any U.S company entering the international market should be aware of existing laws and regulations and expected changes. Parties involved should identify methods such as mediation and alternative dispute resolution for resolving disputes. These considerations are ideal when acquiring foreign assets, forming joint ventures and enforcing contractual provisions with foreign firms. Practical considerations of taking legal ...

Chapter 10

The case is about the Dan, who has taken his new position as an Export Administrator for AGEX Company which deals in export business. His first task is to clear Aishagu Import-Export Trading Company but realizes that the company had been doing business with AGEX for over five years and even his predecessor had not had any issues with its clearance nor payment. The company accountant, Jim is a witness that indeed Aishagu had been doing business with them for along period and they had not experienced any problem doing business. He thinks it will be easy to clear Aishagu ...

1. Exposition The role of PKI’s and its essence in gauging and controlling online access of customer web and online information is critically analyzed and given a prior enquiry

PKIs, Online Security and Business

This part centers its enquiry into the public key encryption and the results or consequences it poses on business. It forms the rubric of the paper.

How the PKI’s enhance Business Security

PKI’s adoption and installation in different business environments has had the competitive advantage of improving internet and online security. This part examines how this level of indulgence has led to ...

Scenario A – Car Dealership

Executive summary Database management system is a very important aspect in the setting of any organization. It helps different companies to be able to gather information about their employees, stock and the operations of the activities conducted by the organization (Beynon, 2004). The database being designed here is for a car dealer and should be able to form an avenue for communication between the customers, the suppliers and the managers. The database to be designed should also be able to contain information about the different types of cars being stocked by the company and also be used by the company ...

Organized crime refers to any crime that is committed by or through well-structured groups, and involves the provision of illegal or manipulative services or goods as a means of acquiring undue income, property, or finical gain. It is structured just like a normal business organization and is partitioned into different wings in a pyramid shaped hierarchy. Such crimes usually employ threats, violence, force, and sometimes bribery to continue with its operations of grievous and dubious acts. Organized crime includes activities such as illegal gambling, narcotics trade, credit card fraud, kidnapping for ransom, prostitution, gunrunning, insurance fraud, vehicle theft, racketeering, pornography, and smuggling ...

Introduction

Information processing is a way to view organizations and their designs. The purpose of information systems is to get the right information to the right people at the right time in the right amount and in the right format (Rainer et al., 2007). Both information systems and individuals possess a capacity to process information, but this capacity is not unlimited. However, the scarcity of information-handling ability is an essential feature for the organization’s demand for information processing and its capacity for processing information (Burton et al, 2001). Information system is therefore considered in situations where an organization is sought ...

The key aspect of e-business is its focus on digitization of business operations from a traditional narrow range perspective to a technological wide range perspective that proves significant to businesses that rely on the internet for their functioning and success. Fundamentally, e-business is a broader concept and it is concerned with using the internet and related technologies to integrate and redesign an organization’s internal activities, processes and external relations, and create new ways of working that are significantly different from, and very often far superior to, what was possible or conceivable some years back. Moreover, interest in e-business has been driven ...

The key aspect of e-business is its focus on digitization of business processes. The universal connectivity permitted by the growth of the internet and a standardized way of communicating across different computing platforms is shifting the balance of importance from the physical world to the digital world.

Fundamentally, e-business is a broader concept and it is concerned with using the internet and related technologies to integrate and redesign an organization’s internal activities, processes and external relations, and create new ways of working that are significantly different from, and very often far superior to, what was possible (or conceivable) in the ...

The modern world is a global village where information exchange and information processing are of paramount importance. Companies are linked to their customers and suppliers by numerous information networks, the ever-expanding internet being a major player in the industry. Thus, information processing is a way to view organizations and their designs. Both information systems and individuals possess a capacity to process information, but this capacity, however, is not unlimited and the scarcity of information-handling ability is an essential feature for the organization’s demand for information processing and its capacity for processing information (Burton et al, 2001).

As modern business organizations become more ...