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Accounting Homework Help

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Sage Accounting Software Overview

If a company is to be successful, it is integral that they have access to stable and reliable accounting. While basic operations can be performed in any spreadsheet program, as the business grows, its accounting needs also get larger and become more specialized.

This is why dedicated accounting programs exist in order to handle the growing demands of developing companies. Sage has a great record in creating software for businesses of all sizes. They already make the leading contact relationship manager, ACT, but they also have a range of superb accounting options dedicated to serving particular kinds of business.

Their accounting software is the prime choice for any small business that is just starting out. It has a robust system that enjoys full accounting functionality. The on-screen interface is very user friendly, with intuitive controls that lets you tightly control the flow and presentation of your data.

Peachtree accounting software also has industry specific variants such as Distribution, Construction, General Accounting, Manufacturing, and others. These variants meet the special needs that each of those businesses requires.

Growing businesses that feel they need something more powerful than Peachtree can then graduate into using MAS90 software. This program is perfect for middle level businesses with high volumes of financial data. Its core accounting functionality is supplemented by even more specific variants than Peachtree. Examples of additional modules include Customer Relationship Management, Human Resource Management, and Business Intelligence. The design also realizes that customers may have previously utilized Peachtree and thus includes mechanisms for the smooth transfer and transition of records and operations.

A company that has bloomed into a truly significant market entity has accounting needs that are truly advanced. Sage MAS 200 is the perfect choice to fulfill such a purpose. It has all the powerful tools that’s native to the MAS90. Though it may look superficially similar, under the program’s metaphorical hood is a faster, more powerful beast. Data reliability has been improved. Information processing, retrieval and program response times have become significantly faster. Resource management has been made more efficient. A new server/client structural platform grants executive remote access as well as a plethora of scalability options.

Modern accounting automation software

It is difficult to find a modern enterprise that has not to automate its accounting process yet. At first sight investing in automation of accounting doesn’t bring financial benefits, but only makes reports drafting process faster and more efficient. The construction company’s top officials consider it reasonable to accumulate and analyse accounting data for the whole company management purposes. Some managers even automated the insignificant management reports, which can be obtained from the accounting systems. It is important, because the head of the department must compare the actual data with the planed, have the opportunity to post a complex multi-step plans and play different scripts. As a result, the actual data input is not enough. There is a need to consolidate all the business processes in one software product. Special software has been developed in order to automate accounting and taxation, financial planning and analysis in the construction companies. The basic configuration functions of such software are: financial flows planning and comparison with the actual data, comparative analysis of objects under construction, the dynamics of the project realization, various reports drafting, accurate and in time information obtaining about materials and funds expenses, as well as contractors, suppliers, customers and consumers accounts calculations. This software system allows you to track purchases and sales of construction works, to estimate the financial results of construction projects realization, allocate costs on construction machines operation on the primary cost. It is a perfect solution that gives the opportunity to arrange the operational activity of any modern construction company and creates a unified information space displaying financial flows and main business processes. At the same time the software differentiate the access to the stored data, as well as the possibility of certain actions depending on the user’s status.
D.Tokareva for Hikuucloud.com company involved in construction estimate software

Online Accounting Courses – Say Goodbye To Sitting In A Boring Classroom!

If you love accounting and you have been thinking of going back to school to further your education with it and get a degree in this field, but think it is not doable because you don’t have the time or way to get it, think again. There are many online accounting courses for you to enroll in that will benefit you.

Accounting Programs

By taking courses in online accounting, you will be equipping your mind to help your family and bank account with the means to succeed with great provision from this chosen career. These programs are vast, and schools are readily available to help you with their credible programs.

The University of Phoenix offers a wonderful program for you, if you decide you want to enroll in their courses. You will have every thing you need with University of Phoenix. You can start out with an Associates Degree, and then continue on to achieve your Bachelor’s and Masters to become a Certified Public Accountant.

Study When You Want

One of the things that help to make this type of education so favorable is the fact that you can study in your own home, on your lunch break or in-between and do your assignments in your own time, as long as you get each one completed on time. This makes it not only very rewarding, but flexible with you and your schedule as well.

You will be more satisfied because you will be able to stay home with your family, especially if you are a stay-at-home mom who desires to educate herself. Print your books, so you can take them every where you go and read them. Thus, you will be able to read the necessary assigned reading for each class even when you’re not at home.

Strong Discipline

Enrolling in accounting courses online will demand a lot from you, because accounting is in-depth with financial situations. You must have and display a strong and firm sense of discipline in your life to do the required lessons and assignments. If you do not, you will easily become disorganized and get behind. Being fluent with the work and completing the assignments on time will require concentrated effort on your part.

Meeting New People

One of the things you will discover when enrolling is new people. You will have the opportunity to meet new friends you can work together with, as well as helping each other.

As a student you will be required to post in the forums. This is fairly easy to do, because you have to read the assigned material then comment by making a post. If you are a blogger, you already have an understanding of a forum and how it works. It’s very straightforward and easy to do.

Online accounting courses will increase your level of understanding, while enhancing your educational background. The knowledge you will attain will help you reach your potential in not only your career and finances, but in your heart and mind.

Why Outsource Non-profit Accounting

There are challenges and rewards in being part of the non-profit industry. As an organization that gives its profits away, you are part of the greater good, and that is very rewarding. However, you are still a business, and as such have to deal with the logistics of standard business practices and accounting. Non-profit accounting can be exceptionally challenging because of the public scrutiny that all non-profit organizations face.

Staffing

Accounting is most certainly a challenge for non-profit organizations because of the impetus on them to save as much money on operating costs as they possibly can. This usually means making do with a low number of staff and then asking those few staff members to do jobs at which they are not experienced. Accounting is usually one of these jobs. Non-profit accounting is left to a single member of a small staff who, even if knowledgeable, becomes quickly overwhelmed and misses important things. In an organization where transparency is key, this is a huge issue.

Taxation

One of the biggest challenges within non-profit accounting is taxation. Taxation must be done, even by those non-profits with special tax-exempt status, or charitable organizations. The fact of the exemptions just makes the processes more complicated and full of different regulations that also make the job of your account more difficult. Any problems with reporting and the special status, as well as the credibility of the organization, is lost.

Outsourcing

The best solution is to consider the money spent on hiring an accounting firm specializing in non-profit accounting as an investment. It is a good idea to leave this important aspect in the hands of professionals because of the two reasons mentioned above. Non-profits and charities are responsible for public money and so must be transparent, and mistakes are very likely to be made when something this important is left with inexperienced or overwhelmed staff.

Experience

Experience is another reason to hire an accounting firm that specializes in non-profit accounting. You want an expert helping you. Accountants understand the ins and outs of financial reporting, taxation, and audits better than anyone. They can see that you are in compliance with every regulation, and they are prepared for changes when they come. Look carefully at the accounting firm that you hire to see that they work regularly with non-profit organizations and will work for you. They should know specifically about issues affecting you, and they should work with you. A firm that knows non-profits can also help and advise you on all the financial and non-financial concerns that will affect your bottom-line, such as hiring senior staff and choosing board members.

You may think that, as a non-profit organization, it would be irresponsible to outsource your accounting, but in fact, it is a very profitable thing to do. The non-profit accounting specialists understand how to make your organization more cost-effective, and become better managed, which will result in greater compliance, less problems, stronger confidence and therefore more donations.

Choosing An Expert Naperville Accounting Professional

Handling accounts of any company is never going to be a small task. Thus it is important that you hire a good Naperville accounting firm who can be helpful for you in many ways possible.

Checking accounts and maintaining it well is surely going to be a demanding and time consuming task for all the business owners. But then it at the same time will also help in knowing where you company actually stands when you finances are concerned. With this you will also know the right method and way by which you can easily plan many of the things ahead. In all such cases you will at times things that you can hire an accountant or a Naperville accounting firm for the same. But then in such cases you always have to be assured of their capabilities first. This means they should be well able to put with the responsibilities and complete all the accounting work assigned.

This is mainly because if they even happen to pass one incorrect entry in books of accounts then it will cause drastic errors in the further calculations. With this chances are high that you will face some serious troubles which could otherwise be avoided. Rather it is suggested that you do some good research and then hire a Naperville accounting firm who can easily handle all your accounts and thus help maintain them without making any type of errors. The major benefit of hiring some good Naperville accounting firm is that the staff is thoroughly professional and also expert in all of their work.

They will help maintain all the records of the profit and loss statement and will also help you have all of your accounts well set and clear. With this you will know the liquidity in the business and will also know how much return on the investment you can get. You will also know the finances available in your business which you further use for expansion or then for investments in the business. These Naperville accounting firms will also help you in drafting payrolls, handling of balance sheets; maintain the tax records and also filing taxes at times.

The time you start with your selection of this Naperville accounting firm you should remember to be very careful. This means that you should not retain those who do not have the right degrees because this will just not be worth at all. You will have no benefits when you do so in any which way possible. Rather it is suggested that you take a close look at too many aspects and only then pick on the one who is simply good and an expert too.

Erp Software With Accounting Conveniences

ERP or Enterprise resource planning is a computer software application that is implemented to coordinate and manage all the resources, functions and information from shared data stores of a business. An ERP software system has an architecture based on service orientation with software units and modular hardware or services that communicate basically through a local area network. The modular design enables a business to reconfigure or add modules from different vendors when data integrity is preserved in a shared database that is distributed or centralized.

The initial ERP software system originated as an extended form of MRP or Material Requirements Planning or manufacturing resource planning and CIM or Computer Integrated Manufacturing. The ERP software introduced after the research and analysis by Gartner in 1990. The ERP software systems now cover all the core functions of an organization, regardless of the firm”s business or charter. These systems are now utilised in non-profit organizations, non-manufacturing businesses and government functionalities as well. A software package such as an ERP system must provide at least two services. For instance ERP software must provide both accounting and payroll functions.

Scalability and customization of the small enterprises accounting software package should be studied before purchase. The software package needs to easy to learn and use. So as to every one can run efficiently operate it .

ERP accounting software has became very important in today”s world of business since ERP has become the model based on which so many organizations run their business. Many accounting departments in all sort of companies employ one or the other accounting software, ERP accounting software being one such software very often. There are so many ERP accounting software available on the internet. Some of the widely used ones are as follows: –

“Made2Manage ERP accounting software offering business tools to manage customer sales and orders, inventory control, material management, job orders etc.
“Syspro ERP accounting software offering processing of credit card modules, material yielding systems, automated office, tabulated reports etc.
IRenaissance ERP accounting software allows control over quality, logistics, manufacturing, regulations and many more

While purchasing a small business accounting software package the business owner needs to take care of several desired aspects. Scalability and customization of the package should be studied before purchase. The small business accounting software package needs to easy to learn and use. It should contain the entire features required for the smooth financial management of small scale business ventures. Compatibility of the small business accounting software with the systems of the business owner should be given priority before purchasing them. Along with all the above, the small business accounting software package needs to fit in the budget range of the business owner.

All leading software manufacturers are now specializing in producing small business accounting software packages. Free Microsoft accounting software is at the height of popularity due its customization, accessibility and other special features.

Chartered Accountant Oakville The unique preference

If there is a survey to get informed the most essential accounting service available today, it is of no doubt that chartered accountant service would gain the topmost position. It is obvious that having stood in the gamut of ever expanding financial service, the role of the experts is being accelerated day by day. Yes, the laws are rapidly changing including the necessary technical details involved. Hence, there is almost a sort of obligation on the part of the commoners. Now, if you ask about the solution, the name to be echoed is nothing but Accounting services Mississauga.

Here, the question is very apt. Where can you get the perfect solution of your account related problem? The answer lies in the online world that can serve you the very best. Having been seated in the office or at the comfort of your home, you can reach the vast array of options regarding the online accounting service. But while zeroing down the best professional service, you have to be very cautious. The entire expanding cyber world is indeed saturated with the scammers. Hence, to choose the best expert, you should keep your eyes open if the service provider you have chosen has the necessary industry experience and sufficient knowledge of the legal jargons. Keeping in mind that the sphere of law is ever changing, you must keep track with it. This will certainly prevent you from ultimately facing a chaotic situation. Only an expert can save you in this regard.

Yes, you have got a glimpse of the truth. The only dependable service you can think of here is Chartered Accountant Oakville and nothing else.

Preparing personal tax returns can be complex, especially considering the changes in personal tax laws that are constantly taking place. If prepared incorrectly, you could be missing out on tax credits or tax deductions, resulting in more tax than you should be paying.

Taxation related processes are very tedious. These can involve large amount of paperwork to keep track of various tax additions and deductions that the company is liable to pay. Most entrepreneurs are not aware of tax preparing process and that is why they need the help of Chartered accountants, who have specialization in dealing with financial matters. Moreover, the frequent changes in laws make it hard to keep track of the update when managing and running a business.

In the similar fashion, the most trustworthy option for getting taxation guideline when you are in Toronto is Chartered Accountant Toronto.

There is no doubt that numerous challenges are involved in maintaining proper books of accounts. This makes it easier to pay taxes during the last few months of financial year ending. Every business owner has the obligation of paying taxes and you need to make sure that the books of accounts express each of your transactions as well as calculations that are performed on a timely basis to maintain the proper structure of accounting. In this regard, the most important name in United States is Accounting services Mississauga. All these are indeed related with the most essential business planning and activities.

Just chalk out a plan before hiring any professional accounting service. What do you need exactly? Is it your corporate tax preparation or personal tax returns? Whatever may the troubles be, you have to take resort to the respective expert(s) in this regard.

This content has been taken from: http://mkenneth.newsvine.com/_news/2012/12/31/16265313-accounting-services-mississauga-the-exclusive-service

Forensic Accounting for Legal Issues

Forensic accounting incorporates the elements of accounting, auditing and investigation for analyzing information that forms the basis of legal discussion, debate, and at times, dispute resolution. Various legal issues, like employee theft, insurance fraud, securities fraud, and such others may require this investigation.

Here are a few of the important questions, and there answers, in this regard.

What are the tasks involved in the proceeding? The chief responsibilities of a professional forensic accountant are as follows –

Investigation and analysis of complex financial evidence and development of computerized applications for it

Preparation of documents (reports, exhibits, etc) for communicating the findings

Assistance in legal proceeding (preparation of visual aids, providing testimonial at court, etc)

Which cases may require such services? Various types of legal issues may require this:

Criminal investigations

Business or other insurance claims

Business or employee fraud investigations

Shareholders or partnership legal disputes

Matrimonial disputes

Who needs such services? Lawyers, government agencies, police forces, courts, banks, insurance companies, businesses and such other entities may need to get forensic accounting investigation.

How does the professional approach the investigation? There are certain steps involved in the procedure. However, the specific details depend on the assignment the professional is handling. Here are the details.

Meeting with the client – is necessary to understand the parties involved in the case, the facts and the issues of dispute.
Assessing conflict of interests – is required to assess whether they are representing two entities with adverse interests.
Performing an initial investigation – is essential to get the foundation of the investigation right.
Developing a plan – based on the initial investigation, this is necessary to assess the objective and the way to attain it.
Getting the relevant evidence – may involve finding documents, individuals, and such other essentials related to the case.
Analyzing the evidence – involves tasks like tracing assets, calculating economic damages, performing sensitivity analysis and so on.
Preparing the report – is necessary to communicate the findings of the investigation along with other details like scope and objective, tools and techniques, and so on.

How do you find such a professional? It is wise to let your lawyer find and appoint such an accountant, as he/she is more aware of reputed and reliable professionals for the task. The key considerations are, however, quite simple – qualification and experience is all that you need to look out for when choosing one for the job.

E-Accounting Problems & Propects

E-Accounting: Problems and Prospects

Shraddha Verma Assistant Professor G.C.R.G Memorial Trust Group of Institutions Lucknow

Abstract

E-Accounting refers to Electronic Accounting, a term used to describe an accounting system that relies on computer technology for capturing and processing financial data in organizations. The manual accounting systems consisted of paper ledgers, typewriters and calculators. Typewriters were used to type invoices and cheques, and all calculations were performed using calculators. Now E-Accounting or Online Accounting is new development in field of accounting which can save the cost associated in accounting, it minimizes the paper work, Thus, source documents and accounting records exist in digital form instead of on paper in an electronic accounting system. with the help of various management applications like ERP,CRM ,project management e-accounting can be done. In E-Accounting the accountant and employer both feel satisfaction because , this is cheap and without software defaults or failure . Your accounts saves in online server or database , so there is no need to record manually, it does not require any software installation. A survey will be conducted among accounting agencies in order to provide evidence for the hypotheses. E-accounting problems & prospects research paper able to find out some of the basic problems, and prospects in e-accounting in the field of accounting and the research is exploratory in nature. This paper is based on a limited initial review of the literature and provides a brief summary of the theoretical part of the study. It should be regarded as a research proposal of an ongoing research project and as such it may develop and change in the process.

keywords: E-Accounting,Accounts payable, Book-keeping, accouts receiveables.

Introduction

E-Accounting is new development in field of accounting. It means all your transactions will record in online server or data base. E-accounting involves performing regular accounting functions, accounting research and the accounting training and education through various computer based /internet based accounting tools such as: digital tool kits, various internet resources, international web-based materials, institute and company databases which are internet based, web links, internet based accounting software and electronic financial spreadsheet tools to provide efficient decision making. The terms E-Accounting and financial information system are used to refer to any accounting system that depends on Information and Communication Technology (ICT) for performing its information system functions. An E-accounting system could be thought of as an inter-organisational system because of its capability to electronically integrate a set of firms. In many operational applications the accounting entries can be generated as a by-product of the underlying transactions. A computerized accounting system is able to handle financial data efficiently, but the true value of an accounting system was that it was able to generate immediate reports regarding the company.

E-accounting involves performing regular accounting functions, accounting research and the accounting training and education through various computer based /internet based accounting tools such as digital tool kits, various internet resources, international web-based materials, institute and company databases which are internet based, web links, internet based accounting software and electronic financial spreadsheet tools to provide efficient decision making. Online accounting through a web application is typically based on a simple monthly charge and zero-administration approach to help businesses concentrate on core activities and avoid the hidden costs associated with traditional accounting software such as installation, upgrades, exchanging data files, backup and disaster recovery. E-accounting does not have a standard definition but merely refers to the changes in accounting due to computing and networking technologies Uses Accounts payable- is a file or account sub-ledger that records amounts that a person or company owes to suppliers, but has not paid yet (a form of debt), sometimes referred as trade payables. When an invoice is received, it is added to the file, and then removed when it is paid. Thus, the A/P is a form of credit that suppliers offer to their customers by allowing them to pay for a product or service after it has already been received. Accounts receivable- also known as Debtors, is money owed to a business by its clients (customers) and shown on its Balance Sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the customer has ordered. Bookkeeping- On a company’s balance sheet, accounts receivable is the money owed to that company by entities outside of the company. The receivables owed by the company’s customers are called trade receivables. Account receivables are classified as current assets assuming that they are due within one year. To record a journal entry for a sale on account, one must debit a receivable and credit a revenue account. When the customer pays off their accounts, one debits cash and credits the receivable in the journal entry. The ending balance on the trial balance sheet for accounts receivable is usually a debit. Business organizations which have become too large to perform such tasks by hand (or small ones that could but prefer not to do them by hand) will generally use accounting software on a computer to perform this task. Online Bookkeeping Process Understanding The Need V Pilot Project V Client Satisfaction V Agreements V Necessary Training V Actual Outsourcing V Implementation V Quality Check V Final Output

PRONTO-Xi Financials is a complete financial management software tool that allows you to automate many of your financial processes, establish greater security around those processes, manage cash flow better and gain enhanced insights into your operations. The functionality can be scaled up or down to suit your individual business needs making it suitable for businesses of any size. Integrate your financial management tasks to drive efficiency throughout your operations Focus on the data output rather than collecting the data in the first place Make better business decisions with accurate data captured and delivered to you in a timely fashion via robust business processes Complete set of financial tools including General Ledger, Accounts Payable, Accounts Receivable, Fixed Assets and Payroll

key functionality & benefits

Period End close – produce accurate quarterly and annual financial statements for individual business units or your entire business that comply with regulatory, organisational and stakeholder requirements. Corporate Risk and Governance Compliance – develop structures and business processes to comply with organisational and recognised compliance standards. Integrate your financial supply chain – strengthen every aspect of your financial supply chain with integrated, robust processes, including establishing electronic purchase request and authorisation limits. Streamline payments and invoices – improve your Accounts Payable and Accounts Receivable management and drive payment efficiencies. Multi-company consolidations – consolidate any number of companies quickly and easily. Cash flow management – track, identify and manage your cash flow, liquidity and your exposed financial risk quickly and easily via integrated, automated processes. Monitor financial performance – report on key financial metrics and develop an accurate understanding of your true financial position at any point in time.

Company’s all accounting project can easily outsourced by E-Accounting system:

A.P.O. A.P.O means accounting process outsourced APO is the new and developed form of BPO according to research report APO is growing very fast. This industry has jumped 60% annual growing rate. This industry has reached up to 60 cr. Of Rs.

Pay pal Payment system is popularizing in Online Accounting Some of Indian professional accountant gives the accounting services to USA customers under A.P.O. Now they can easily get their service amount from paypal way . Paypal gives you the facility of withdrawing your service fee with following ways:

a) If you want to deposit your service amount in your bank account in India for more than RS. 7000 you can easily transfer without any cost of transferring , if upto RS. 6999.99 you want to transfer in your account you will charge Rs. 50 b) You can get the cheque by giving request in the website under your paypal account c) You can also withdraw funds to your card also.

Willis and ACE Achieve e-Accounting First in London Insurance Market The London-based operations of ACE, a leading insurance company, and Willis Limited, the UK insurance broker, announced the successful launch of a full electronic accounting process between the two companies -a London Market Group (LMG) Non Bureau project first. E-Accounting is a data-based process for facilitating financial agreement and subsequent settlement of premiums and claims with insurance carriers, and replaces paper in the accounting and settlement process. E-Accounting substantially improves the quality, integrity and certainty of process, allowing Willis and carriers to synchronise their operations and improve client service. Implementation benefits include: prompt advice of premium and claims due, enabling simpler reconciliation improved settlement cycle resulting in speedier premium and claim settlement the secure exchange of critical closing and settlement information reduction in queries and early query resolution Graham Card, Executive Director and Business Lead for Willis’ e-Accounting roll-out, said: -London Market modernisation has long advocated the elimination of paper from the process and the introduction of electronic accounting. This is a major reform that will show benefits for both parties in the future.- -ACE are continually looking at ways to improve service to clients, making payment of premium easier and payment of claims faster. e-Accounting and closer collaboration with our clients will enable ACE to achieve this. -This project with Willis has been a great success with a real sense of partnership, and ACE is looking forward to working with Willis to expand the use of e-Accounting capabilities further with our clients and the wider market through the LMG sponsored Non Bureau project.- Willis and XL Implement e-Accounting London, UK, September 26, 2011 -The London-based operations of XL Group plc, a leading global insurer, and Willis Limited, the principal UK broking company of global insurance broker Willis Group Holdings plc (NYSE:WSH), announced the successful launch of a full electronic accounting process between the two companies. Through better synchronisation between brokers and carriers, the online system markedly improves client service by enhancing the quality, transparency and integrity of the accounting and settlement process. Willis Group Holdings plc (NYSE:WSH), announced the successful launch of a full electronic accounting process between the two companies. Through better synchronisation between brokers and carriers, the online system markedly improves client service by enhancing the quality, transparency and integrity of the accounting and settlement process.

However, with the introduction of PC-based Accounting Systems, both the computer hardware and the accounting software have become cheaper, creating an opportunity for organisation to adopt e-accounting. Nevertheless, there are several factors that determine whether an organization adopts e-accounting or not. Studying the factors that influence computer adoption, internet adoption and accounting software adoption

Relationships between company size and Internet Adoption

Company size Internet (No of employees) connected 50-99 41 % 10-49 30 % 1-9 16 % Objective

The objective of this research is first to describe the present state of the art of e-accounting in organisation bookkeeping agencies in U.P region(mainly lucknow) as well as identify managers’ intentions towards adoption of e-accounting ;what are the problems they are facing with the adoption of E-Accounting and the future prospects of E-Accounting system second to empirically study factors that influence the adoption of e-accounting, and third to study the problems that e-accounting may have in general and more specifically on the accounting procedures and practice in small and organisations bookkeeping agencies that have adopted an e-accounting system.

Research Methodology

The data for this research was collected by means of a questionnaire. Questions are both open ended and closed ended. The study was, for practical reasons, the research is done in the UP region (mainly lucknow) . Besides, demographic data including gender, age, position in organization, accounting background, professional qualification, experience in current system, level of understanding and knowledge related to the system, were measured by different scales. Finally a data of total of 90 persons were collected generating a positive response rate of approximately 35%. I have identified 12 questions that most effectively measure the no. of persons acquiring e-accounting in their organisation:

Q1. What kind of firm do you have?

Q2. How many no. of accounting staff do you have?

Q3. Does your firm use computers in operations?

Q4. Does your firm make use of accounting software in operations?

Q5. What kind of accounting software’s are used?

Q6. What are the aim of implementing E-Accounting?

Q7. What problems are faced by the firm while implementing E-Accounting?

Q8. What ways do you suggest for improving the system for easily access to E-Accounting?

On the basis of the data collected from both medium & small firms we found that only 35% of the firm out of hundred is successful in implementing E-Accounting. The firms like ACE & Willis a leading insurance company, and Willis Limited, the UK insurance broker, announced the successful launch of a full electronic accounting process and for the positive respondents the goal of implementing e-accounting are timely information management, large storage capacity, reduction of clerical work, cost effectiveness. Whereas for the left percentage 38.8% face problems like lack of constant supply of electricity, frequent breakdown of the system, inability to import/export data, inability of the system to support large volume of data or all of the former problems in implementing E-Accounting.

Findings and Suggestions

To further investigate the actual benefits of e-accounting, empirical studies of some ten small and medium-sized accounting agencies will be undertaken. These companies will be selected among the adopters group and chosen with the help of reference lists from software application providers and from information gathered in previous studies. The main data collection method will be face-to-face, structured interviews with managers of these organisations or, when necessary, telephone interviews. All interviews are planned to be tape recorded. The firms are facing problems in — Data security – All your data resides on a remote server: however, a back up can be taken regularly. Speed – Most of the currently available online office suites require a high broadband Internet connection. Lack some features available on the offline office suites: but this is progressively becoming available (MS LIVE, Google online-Suite, Think free, Zoho Office, Internet Office .Biz and e-Desk Online) A network connection (usually Internet access) is required to send and receive changes. That is, internet dependence makes it more difficult to work offline and also most of the firms don’t want to invest in purchasing accounting software. The results also indicate that interpersonal communication channels, such as training sessions and consulting, are considered as the most useful ways to achieve knowledge of new e-accounting innovations. Internet is also considered as a useful means of providing information. The use of accounting software makes the task easier and also saves the valuable time.

Conclusion

The study provides strong evidence that the use of E-Accounting has contributed to the effectiveness of tasks as expected. The study shows that the use of E-Accounting may improve the effectiveness of accounting and reporting tasks, budgeting, controlling and auditing which may reflect on the organizational effectiveness as well. An improved quality in the system may provide better support for the tasks performed by the system. This study finds that the most significant impacts of E-Accounting are on accounting and reporting and budgeting task performance respectively.Future studies could place more focus on the inter-organizational factors affecting the adoption rate. Moreover, future research could focus on the attitudes and resources of the business partners of accounting agencies. The contribution of this study will be twofold. First, the contribution of this study lies in the empirical analysis of the determinants of e-accounting adoption. The results of the study may give some evidence on the managers’ intentions of small and medium-sized accounting agencies towards e-accounting and thus predict future use of e-accounting systems. Second, this study aims at providing some understandings of the actual benefits of the use of e-accounting systems.

References

OECD, 1998. SMEs and Electronic Commerce. Working Party on SMEs to the OECD Ministerial Conference on Electronic Commerce. October 1998, Ottawa. http://www.oecd.org/dsti/sti/it/ec/prod/sme18e.pdf (October 7, 1999).

Amidu, M. and Abor, J. (2005), Accounting Information and Management of SMEs in Ghana, The African Journal of Finance and Management, 14(1), pp. 15 – 23.

Doost, R. K, (1999), Computers and Accounting: Where Do We go from Here? Managerial Auditing Journal, 14(9), pp. 487 – 488.

Accounting Act (AA, Kirjanpitolaki ) 1336/30.12.1997

Hall, J. (2007). Accounting information systems. Quebec, Canada: Thomson Higher Education.

http://www.experiment-resources.com/empirical-research.html#ixzz1d0dAXLDg

www.acegroup.com/uk

http://www.experiment-resources.com/research-paper-outline.html#ixzz1cjx5E1mq