This week we learn a number of ways that an accounting system can help a company computerize their accounting information such as how to add new customers to your database, how to create invoices, how to record sales and how to pay bills. Research other computerized tools, such as apps for your phone or other software for your computer, and ways these help a company to improve work flow processes, efficiency or managing clients, vendors, and employees. Share your findings with the class and whether you think these tools help companies or not. Be sure to pick something different than your classmates to add to the discussion. Note: Do not use (Podio, AACE, Zoho, Best Software’s Simply Accounting, Monday.com, Freshbooks Cloud, Net suite, Hippa, 1 & 1, Spreadsheet Server, Profit books, LightSpeed, Infusionsoft Small Business Using the KU Library, find an article that deals with ethical accounting practices. State what you learned in this article and why ethics is important to the accounting profession. Be sure to note your sources and in-text citations in proper APA format.

Question 1

Information systems are regarded as an integrated set of components utilized in the collection, storing and processing of essential information together with other forms of knowledge, and digital products. Several businesses and other institutions depend on these systems in carrying out and managing their daily operations, interacting with their esteemed customers and competing in the marketplace. Moreover, these tools and methods are useful in running inter-organizational supply chains and electronic markets; for example, businesses utilize information tools to process their financial accounts, control the human resource division, and to reach their clients with online promotions. It is also significant to acknowledge that there exist digital tools including applications used in the mobile phones and others installed within the computers that are in turn important in enhancing the work flow procedure, management of customers, vendors and workers.

Question 2

Computerized Equipment

One of the software used in business operations includes the FreshBooks that are typically used by several users globally to streamline time tracking and invoicing. The software is also essential in collaborating between group members and also installed with redesigned dashboards where one can prioritize tasks and control the business payments (Burns & Needles, 2014). The classic features have not been altered thus allowing the tool to offer top most invoice-to-payment operations together with direct payment options. Also, there is the Free-Agent online tool that is specifically designed to assist freelancers and other small business managers, and other accountants maintain the close look at their financial operations. With the platform, one can both send and keep a keen look at the invoices that are created using the system itself and have all the business’s expenses held in place through having to take a photo of the receipt using a cell phone and uploading it into the system.

There is also the Xero software that allows business owners and their respective advisors to effective access and controls real-time financial information anywhere, anytime and through the use of any device. The software is created and designed for all small business owners as it assists them to keep track of and manage the real wages, revenues, payables receivables, cash flows and expenditures (Debenport, 2010). The software is also flexible as the management can configure the policies and customize them with the aim of fitting the business’s needs and mode of operations thus enhancing the work flow process. As part of the computerized tools used in the current business set ups, NetSuite ERP is strategically a client relationship management solution that can still be utilized for sales force and marketing automation together with order control process and consumer support. These are some of the computerized equipment that typically enables organizations to enhance their work flow procedures, manage customers, vendors and workers.

Ethical Accounting Practices

According to Burns, J. O., & Needles, B. E. (2014), no business or institution is exempt from ethical behavior and practices; however, individuals dealing with finances and sensitive personal and institution data ought to adhere to the laid ethics and integrity standards. This is imperative in acquiring and retaining the trust of customers, fellow employees and other business stakeholders. Some of the significance of incorporating these ethics in accounting is that it gives accountants a proper deal of power regarding the consumers and it is essential that the trust exists between an accountant and the consumers not be abused.

References

Burns, J. O., & Needles, B. E. (Eds.). (2014). Accounting education for the 21st century: the global challenges. Elsevier.

Debenport, E. (2010). Comparative accounts of linguistic fieldwork as ethical exercises.