Identifying information needs within different functional areas and using Accounting Information System
Purpose of this assignment
Learner will gain an understanding of the information requirements with data processing needs in an organization. Learner will get an opportunity to get hands-on-training of Accounting Information and general purpose software to resolve real world reporting issues.
Case Study
InterContinental Muscat(ICM)
Located on beach front and with a view of the Hajjar Mountains, this five-star resort is located in the heart of the city's residential, government and diplomatic quarter. The hotel's Palm Beach Club offers two floodlit tennis courts, a 25-metre olympic size pool, a leisure pool, a fully equipped fitness center, sauna,jacuzzi and easy access to the beach. Local sites of interest include the Grand Mosque and Amouage Perfume Factory.
www.intercontinental.com/Muscat
Task 1 - Assessment Criteria 1.1
Identify functional areas in the selected organisation (ICM) and analyse inputs, process, and output requirements for minimum four functional areas' processes.
To achieve pass you must;
- Provide a brief introduction to the organisation and its functional areas
- Identify the core functional areas specific to the organisation.
- Identify the input, process and output requirements for the functional areas selected.
To achieve M3, Choose core processes of four functional areas, arrange all tasks related to the chosen processes in logical sequence use technical language accurately to describe the tasks. Use structured methods of information presentation.
Task 2 - Assessment Criteria 1.2
Ascertain the relationship between different functional areas of the selected organisation. To achieve pass you must;
- Ascertain the relationships between the functional areas of the selected organisation(ICM) in task 1 by using flow diagram
To achieve M2, Select at least 2 tasks related to each functional area and discuss flow of information among the functional areas to conduct those tasks. Use a range of sources of information.
To achieve D3, Select complex tasks, show comprehensive understanding in information flow, and make appropriate diagrams to present the flow of information, provide references. Effective thinking has shown in flow of information.
Task 3 Assessment Criteria 3.1
Understand Installation process of Accounting Information system available in the market.
Assume you have started your own shop at Ruwi, Muscat in the month of March to sell the computers' components. To keep track of the inventory and the financial transactions of your business, you have decided to use Tally.ERP 9. For this purpose you need to perform the following tasks:
To achieve pass you must;
a) Write hardware and software requirements for Tally ERP 9
b) Prepare document which contains screen shots of installation process reflecting your understanding of all necessary steps involved in the installation of Tally.
c) Setup a company under your name to record the business transactions. Make sure your company complies with Oman statutory regulations
To achieve M1, make effective judgement on the use of appropriate hardware/software to show all necessary steps involved in the above mentioned tasks and provide appropriate description of each step
Task 4 - Assessment Criteria
Use an Accounting Information System to generate valid, accurate and useful information for a given problem.
To achieve pass you must;
a. Create the necessary Ledger accounts by using Tally ERP 9 and record the following transactions in Tally.ERP9. While recording the transaction take screen print of each transaction and paste them in MSWord document for evidence.
Note: In the following transactions
I. S1, S2, S3 and S4 represent the sundry creditors of your company, in place of them write names of the computer suppliers/dealers exist in the market near your residence and while creating the ledger account for them, provide full address and other details required to store in
Tally.ERP 9.
II. C1,C2, and C3 represent the sundry debtors of your company, in place of them write names of your three friends who are not studying in your class and while creating the ledger accounts for them provide the full detail required to store in Tally.ERP 9.
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S.No
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Transaction
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1
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On March 1,2017: You have invested R.O 85000 capital in the business
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2
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On March 3,2017: Bought furniture for cash R.O 6500
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3
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On March 4,2017: Purchased 450 CPUs from S1 at R.O 120 per unit on credit
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4
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On March 5,2017: Purchased 260 Monitors from S2 at R.O 50 each on credit
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5
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On March 6,2017: Purchased 180 Keyboards from S3 at R.O 7.500 each on credit
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6
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On March 7,2017: Purchased 200 mouse from S4 at R.O 1.5 each on credit
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7
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On March 8,2017: Sold 65 CPUs to C1 at R.O 350 each
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8
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On March 9,2017: Sold 20 CPUs to C2 @ 340 each
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9
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On March 10,2017: 18 CPUs returned to S1
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10
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On March 11,2017: R.O 5200 Cash Received from C1
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11
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On March 12,2017: R.O 5600 Cash Received from C2
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12
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On March 13,2017: Sold 6 CPUs to C3 @ 390 each
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13
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On March 14,2017: Sold 14 CPUs to C1 at R.O 355 each
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14
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On March 15,2017: Sold 6 CPUs to C2 @ 362 each
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15
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On March 16,2017: R.O 600 Cash Received from C1
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16
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On March 17,2017: 4 Monitors returned to S2
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17
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On March 18,2017: Sold 2 CPUs to C3 @ 270 each
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18
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On March 18,2017: R.O 355 Cash Received from C1
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19
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On March 18,2017: R.O 190 Cash Received from C2
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20
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On March 19,2016: R.O 550 Cash Paid to S1
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21
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On March 19,2017: R.O 700 Cash Paid to S2
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22
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On March 19,2017: 3 CPUs returned by C2
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23
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On March 25,2017: R.O 600 Cash Received from C3
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24
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On March 27,2017: R.O 190 Electricity bill paid
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b. After recording all the transactions take print of the Day Book, Balance Sheet, Profit and Loss and the Trial Balance and analyze the information shown in the reports (Suggested 600-900 Words)
To achieve M1, record all transactions correctly in appropriate sequence and shown each step in your assignment.
D1: Write conclusions to prove the accuracy of Day book, Balance sheet, Profit and Loss and Trial Balance reports.
D2: Demonstrate all activities have been managed well.
Task 5 - Assessment Criteria 3.3
Evaluate alternative methods of solving the problem To achieve pass ;
MS Excel is being used commonly in managing account, inventory, payroll etc. Evaluate at least three features of MS Excel as an alternative method which can help in managing financial matters.
To achieve M3, describe three advanced features of MS Excel, demonstrate the use of those features effectively to deal with financial matters, provide diagrams with appropriate details.
To achieve D3, provide suitable examples with valid comments. Effective thinking has demonstrated in evaluating the features.