Intergrate Accounting Cycle Final Report

Integrate Accounting Cycle Final Report

University of Phoenix

ACC 340

October 20, 2011

Comfort Chevannes

Abstract

In this paper Team B will assist Riordan Manufacture's revenue cycle, and there will be some changes. The system development life cycle will be incorporated into the Riordan Manufacture's system. Team B will give details on how participants from the accounting function help the development of the system. Also Team B will give some information on how changes will impact some areas of measure and how to control the operational performance. We will how to integrate the cycle into an accounting information system including the hardware and how the accounting system flows in the Riordan Manufacture Company.

Riordan Manufacture Final Report

The Riordan Manufacture is a company that sells different kind of products like, medical stints, heart valves, fans, plastic bottles, and others custom plastics parts. Some of the Riordan Manufacture clients are: Department of Defense, appliance manufacturers, and automotive parts manufactures. The Riordan Manufacture Company is owned by Riordan and the company has annual revenue that exceeds one billion dollars. Riordan show how the company controls their expenses and show their investor the income by using the income statements. At this time the Riordan Manufacture does not have an integrated accounting system. Their locations have a separate system and the company sends the information to headquarters. The Manufacture admits that the accounting system they have has failed, and they need to replace the system.

In the company cost of goods the inventory management has a common set of procedures. The company explained their process very clear to make sure that everyone involved in the process understands. By doing this they guarantee that the cost of goods is reported correctly. One of the weakness that the Riordan Manufacture has is that most of the accounting process are still manual and the most weakness is that the entire company are not interconnected this is why headquarters rely on one location to send to information and combine the data to one system. The company provides the F and A data by data file from different locations. Some files are reported by hard copy and converted to accounts codes. After this the report are combined in one financial report. The Riordan manufacture has to come with a global accounting system.

System Application and Products (SAP), the world's largest inter-enterprise software company, the fourth-largest independent software supplier, and provides multiple currency reports. This SAP software is the highest recommended accounting software and is the strongest international features call SAP. The information technology department needs a global implementation of the software and train personnel on the accounting software by doing this it may save time in putting together the report this way the report is