Why have accounting software packages been designed with separate transaction modules?

-

Why have accounting software packages been designed with separate transaction modules?



Answer: : Since every organization does not necessarily use all of the transaction cycles in its operations, it is to the advantage of the organization to be able to "pick and choose" from among various software modules that track and record different transaction cycles. For example, a law firm would have no need to implement a production cycle module. Also, the nature of a transaction cycle varies across the broad spectrum of business organizations. Again, a law firm would have a revenue cycle, but it would not involve the purchase, receipt, and payment for products or merchandise; likewise a retail store chain may not sell any consulting services to its customers.

Comments

Post a Comment

Popular posts from this blog

What is JAD and how are users involved? What are advantages and disadvantages of JAD?

-
What is JAD and how are users involved? What are advantages and disadvantages of JAD? Joint application development, is a popular fact finding technique that brings users into the development process as active participants. Users have a vital stake in the information system, and should participate fully in the development process. They are/should be involved at every stage of development. Advantages : Users can participate effectively in the requirements modeling stage. More accurate statement of systems requirements, better understanding of common goals and stronger commitment to success of the new project Disadvantages : More expensive, can be cumbersome if the group is too large for the project.
Read more

JAD Advantages and Disadvantages

-
JAD Advantages and Disadvantages : Compared with traditional methods, JAD is more expensive and can be cumbersome if the group is too large relative to the size of the project. Many companies find, however, that JAD allows key users to participate effectively in the requirements modeling process. Read:  What is JAD and how are users involved? What are advantages and disadvantages of JAD? When users participate in the systems development process, they are more likely to feel a sense of ownership in the results, and support for the new system. When properly used, JAD can result in a more accurate statement of system requirements, a better understanding of common goals, and a stronger commitment to the success of the new system. More:  RAPID APPLICATION DEVELOPMENT
Read more

Describe at least three of the general information skills essential for all business careers.

-
Describe at least three of the general information skills essential for all business careers. General information skills essential for all business careers include   (1) understanding how information systems and technologies can help firms achieve business objectives such as operational efficiency, developing new products and services, and maintaining customer intimacy.  Also essential is (2) an understanding the central role of databases in a modern firm as well as (3) developing skills in the analysis of information in order to help firms understand and make sense out of their environments.  (4) All business majors need to be able to work with specialists and system designers who build and implement information systems. This is necessary to ensure that the systems that are built actually service business purposes and provide the information and understanding required by managers and employees.  In addition, students need to (5) understand how ...
Read more