Assignment Problem:
Background: Eureka Limited is a family owned company with around 73 employees and sales revenue increased to more than $ 18.5 million during the past year. It has been in business for over 55 years and supplies beverages to a number of different businesses, including supermarkets and pub-chains. The company has experienced mixed fortunes over the years in terms of business performance, but in the last few years has experienced a growth in orders for some of its new healthy product ranges. However, Eureka has recently lost some key accounts because of being unable to produce some of its products at a competitive price.
Although the company hired an accountant who was keeping their books for them and producing the financial statements each year, the company thought they needed much more information to run their business efficiently. They felt that they needed to make an investment in accounting software to take their business to the next level.
Required: You are required to prepare a report to evaluate and recommend accounting software for Eureka Limited.
The report should include the following components:
Business requirements:
What are the key business processes for Eureka Limited?
What are the major control risks for the business processes of the company?
Systems requirements:
What are some of the possible accounting software features and functionalities that the company should consider to achieve their business objectives and minimize the control risks?
Software selection:
Visit the websites of at least three (3) accounting software package vendors (e.g. SAP, MYOB, Xero etc.) and provide a brief description of each vendor and its products.
Which category of accounting software (low, medium or high-end) suitable for the company? Give your justifications in detail.
Vendor Selection:
Compare and contrast the features and functionalities of two accounting software packages offered by accounting software package vendors within your selected category.
Which one would be the most suitable vendor and accounting software package for the company and why?
Assignment Structure: The report should include the following components:
Assignment cover page clearly stating your name and student number
A table of contents, executive summary
A brief introduction or overview of what the report is about.
Body of the report with sections to answer the above issues and with appropriate section headings
Conclusion
List of references.
The report should be grounded on relevant literature and all references must be properly cited and included in the reference list.