need detailed answers , when submitting the solution submit them separately . thank you.FNS50217 |...

Question

need detailed answers , when submitting the solution submit them separately . thank you.

FNS50217 | FNSACC505 Establish and Maintain Accounting Information Systems Trainer’s Guide | V 2.0 | Apr 2018 Assessment Task 1: Assessment Task Compare and Analyse Accounting ERP Systems Schedule TBA Outcomes Assessed Performance Criteria: 1.1, 1.2, 2.1 Addresses some elements of required skills and knowledge as shown in the Assessment Matrix Description: An Enterprise Resource Planning (ERP) system is a fully integrated business management system covering functional areas of an enterprise such finance and accounting, HR, production, sales and logistics. It organises and integrates operation processes and information flows to make optimum use of an enterprise’s resources (erssource, 2012). Most ERP systems contain modules, including an accounting module, within them and organisations have the option of deploying the full system or select modules depending on their specific requirements. An accounting module will handle only individual business functions of accounts whereas a complete Enterprise Resource Planning (ERP) package will handle the entire range of business functions of the organisation. In this assessment task, you are required to research and compile information on five different ERP systems that incorporate finance and/or accounting modules. Present your research information in a tabular format with comparative functions listed side by side. You comparison will be based on; 1. System type and platform 2. Core functions and modules (or applications) 3. Accounting functions (Detailed and itemised) 4. Database type and flexibility 5. System (installation) requirements 6. Approx. cost (if available) 7. Customisation and flexibility 8. Training and support documentation 9. Market differentiation (unique selling point of each system) 10. Local support (Australia) Once you have collected and compared the information, write a brief report summarising your understanding of ERP systems and their functionality; especially the finance and accounting applications (modules). In addition, cover the following information in your report. You may have to further research these topics.  Basic structure of an ERP system  Five key advantages and disadvantages of using an ERP system  ERP implementation life cycle  Security issues and measures  Impact of ERP on business performance  Costs: Implementing and running  Problems and issues with implementation FNS50217 | FNSACC505 Establish and Maintain Accounting Information Systems Trainer’s Guide | V 2.0 | Apr 2018 Page 2 of 8 The report should be written as a formal business document with appropriate structure and style. All external sources must be cited using the Harvard referencing system. The report should be written in your own words. Extensive and straight copy-paste from the external sources without an appropriate analysis will not be accepted. Assessment Criteria The following assessment criteria will be used for marking this assessment task. Ensure that you have addressed all of the criteria in your work.  Researched and selected appropriate ERP systems for comparison  Systems incorporate accounting and/or finance module or applications  Adequate data is collected and used for comparison  Citations reflect a variety of sources used to gather information  Used the comparison criteria as provided to compare the systems  Comparison shows distinct features of each system  ERP system structure and functions/applications are identified and compared  Features and components of finance and/or accounting applications/modules are identified and listed in detail for each system  Cost, customisation, documentation and support features are identified and compared  Comparison data is presented in a structured (tabular) format with appropriate headings and highlights  Analysis reflects an understanding of distinct ERP systems and their features  Advantages and disadvantages of using an ERP system are articulated based on the research  ERP implementation life cycle includes steps from selection of a package to post-implementation process  Prevalent and perceived security issues associated with EPR systems are discussed with supporting examples or references  Explained if use of an ERP system has any implication, positive or negative, on business performance  Issues of cost and time of implementation are discussed in detail  The report is appropriately structured and developed in own style and language  Cited all external sources using an appropriate referencing system Submission Guidelines Submit:  Word processed report with comparative analysis in hard and electronic copies  Copies of any relevant documents/information on systems as attachments Electronic versions of the assessment task and email/electronic submission arrangements are at further discretion of the trainer/assessor. FNS50217 | FNSACC505 Establish and Maintain Accounting Information Systems Trainer’s Guide | V 2.0 | Apr 2018 Page 3 of 8 Assessment Task 2: Assessment Task Identify Organisational and ERP Implementation Requirements Schedule TBA Outcomes Assessed Performance Criteria: 1.1, 1.2, 3.1, 5.2, 7.2 Addresses some elements of required skills and knowledge as shown in the Assessment Matrix Description: Note to Trainers/Assessors: The case scenarios provided in this task should be taken as examples. These scenarios can be replaced with new scenarios if necessary. Case study in this task has been taken from Microsoft Dynamics NAV case studies at: http://www.navisioninfo.com/casestudies.htm. Rapid advances in Information Technology within the last decade have been catalyst for organisational change, especially in implementation of enterprise resource planning (ERP) systems. ERP implementation means implementation of new software package and business processes that substantially alter workflow and jobs. Organisations that successfully implement ERP systems, including new software and business processes, have reported enormous benefits, such as greater efficiency and effectiveness at both individual employee and organisational levels (erssource, 2012). However, ERP systems also fail and one of the reasons for the failure is organisation’s inability to effectively manage the chance process. In this assessment task, you will be provided with a case scenario of an organisation in need of an ERP system; especially in the area of financial/accounting management. From the given scenario, you will be required to identify and analyse the specific ERP needs. This assessment task will serve as the first part of the major task, provided in Assessment Task 3: Develop and Present an ERP Project Plan. You will be using information developed in this task as an input into your major project. You must retain a copy of your work in this task. Case scenarios: Cockatoo Ridge Wines has grown to be one of the most recognized wine labels in Australia. Listed on the Australia Stock Exchange in February 2002, the company continues to expand distribution of its wines in Australia, as well as increase sales and distribution to international markets. It has just started to export to Britain after a strong year in the US. Situated in the heart of the Barossa Valley in Australia’s largest wine producing region, Cockatoo Ridge Wines includes white and red table wines made from a single variety of grape, as well as white and red sparkling wines. Using the latest viticultural practices, their products are designed as modern, low-cost wines. Cockatoo Ridge Wines currently exports 2,000 cases per year. Two of its business objectives are to increase its exports from 25% of distributions to over 50% within the next 12 months and occupy a larger proportion of the domestic market. However, the company realized its current reporting software would not allow it to reach these goals. As a condition of being a publicly listed company, Cockatoo Ridge must provide complete financial and data analysis reports to all shareholders on a monthly, quarterly, and annual basis. FNS50217 | FNSACC505 Establish and Maintain Accounting Information Systems Trainer’s Guide | V 2.0 | Apr 2018 Page 4 of 8 Such reports meant that fields within the company’s database needed to be populated by hand from a number of different sources. The process of manually entering data each month was time-consuming and prone to errors. As a result, the reports were often delayed by up to two weeks. Cockatoo Ridge needed a solution that provided specific software functionality relevant to the wine industry that could also be tailored to its needs. In particular, Cockatoo Ridge wanted a package that would handle sales and distribution at the same time it allowed the company to report on any area within its operations, using a simple interface. Damien Lister, Financial Controller for Cockatoo Ridge Wines, says the main challenge was the amount of time it took to analyze and report on the business. “We were always on the back foot because our knowledge of our position was limited,” he says. “It also created a processing backlog because the system needed to stop collecting data until month-end reporting was complete. Once this month-end reporting was finalized, all the data for the current month then needed to be manually re-entered once the system was back online.” Cockatoo Ridge wanted a faster system that allowed all reporting to be done while the next month’s data was being collected. To achieve its goal of taking a lead position in the wine industry, the company needed to employ a market-specific solution. “The collection of data needed to address our financial and sales areas, including our budget forecasting, as well as our cellar-door and point of sales process management,” says Lister. Based on the above case study;  Identify and explain organisational requirements  Describe the specific accounting solutions that the company requires  Describe basic requirements of the accounting application/module based on principles and practices of budgetary control  Identify and list legislative requirements (e.g. taxation, reporting) that the company must maintain in any solution  Establish expected outcomes – what the solution will entail  Research and suggest an appropriate system that fits the requirements  Describe system features and processes in detail based on your research in Assessment Task 1  Describe minimum system requirements for implementation  Describe employee training requirements for implementation  Develop an implementation checklist that list all the critical steps required in implementation of a new system, including data security measures  Describe a procedure for testing the system prior to implementation  Provide an approximate cost estimate based on

updated-fnsacc505-assessment-tasks-2bfmhx20.pdf

Tanmoy · Accepted Answer

Compare and Analyse Accounting ERP Systems
Assessment Task 1
	Comparative Functions
	Microsoft Dynamics - Navision
	IFS ERP Solution
	Infor
	SAP
	Epicor
	System type and platform
	The Microsoft Dynamics Navision is a line of ERP and CRM application. It delivers the application through a network of reselling partners who provides services of specialised quality. It is a part of Microsoft Business Solutions. It can be used with various other platforms and services like Outlook, Azure, SharePoint, Yammer and Office 365. There are three platforms of Microsoft Dynamics which are Power Platform Overview; Common Data Model and Common Data Service
	IFS is Industrial and Financial Systems which delivers a multipurpose ERP solution which is cloud based and helps in the integration of data and processes across multiple departments of the organizations. It deliver the users with end-to-end enterprise asset management
	Infor focuses on business application which is provided through cloud computing for various organizations. Its main product type is CloudSuites. Therefore, it is a comprehensive industry suite which is geared towards services, manufacturing and distribution industries. Its platform is based upon Artificial Intelligence, Business Analytics, Networking and process mining 
	SAP is based on cloud platform and is an open platform as a service which includes SAP HANA DBMS. It helps to connect to cloud based and on-premises systems running SAP and also runs on other third party software like Java, Cloud Foundry, Node.js and Java Script for the purpose of integration. 
	Epicor is a cloud based and on-premises ERP solution which provides the manufacturers with vigorous potentials related to supply chain management, job costing, inventory management  and pre-production material planning and manufacturing execution in order to build profitable investment in the manufacturing milieu
	Core functions and module (Application)
	The core functions and applications of this module is used in the fields of Sales, Customer Services, Human Resources, finance, Commerce, Marketing, Artificial intelligence, supply chain management and project operations. 
	The various modules of IFS is Accounting rules, lifecycle management, reporting & Analysis, sustainability management, document management, enterprise operational intelligence, process models, quality management and IOT Business Connector. 
	The various modules of the Infor ERP are Advanced planning & scheduling; Human Capital Management; Prebuilt industry analytics; Workforce planning
	SAP is software which allows the enterprise to manage the databases for different processes controlled from a single unified system. The modules are SAP Financial, SAP Controlling, SAP Sales and distribution, SAP Production Management, SAP Material Management, SAP Quality Management and SAP Human Capital Management
	There are eight domains which are covered by Epicor ERP solution. These are financials, Human Resources, Manufacturing management, Inventory management, Purchasing management, Quality management, Sales management and Product management 
	Accounting functions (Detailed and itemised)
	The finance module of Microsoft Dynamics provides a dashboard which provides the overview of the finances on a real time basis and helps to tap the information on real-time basis from anytime and anywhere. 
It helps to automate the daily tasks and also includes the tracking ability which assists in the organizational compliance regulation. 
	In accounting functions it covers Consolidation, cash flow, electronic invoice, business planning, fixed assets, general ledger, accounts payable and receivables, project finance and IFS Financials
	The financial and accounting modules of Infor ERP are called CloudSuite Financials & Supply Management. It is designed for today’s user, it offers fully integrated supply management offering, reinvented global general ledger for accounting and finance and robust analytics for both financial and supply management 
	SAP FICO helps the organizations with preparation and generation of financial statement for the purpose of analysis and reporting and helping with effective business planning and for the purpose of decision making. It also enables the organizations to generate the financial statements which are balance sheet and income statements for the purpose of reporting and analysis.
	The Epicor ERP functions covers approx 96% of financials functions and features. It also helps the financial reporting options bring clarity to business intelligence so that the manufacturer can act with confidence. 
	Database type and flexibility
	There are two types of data types on Microsoft Dynamics which are Microsoft Dynamics NAV Data Type and SQL Server Data Types
The ERP is extremely flexible and allows collaborating across the virtual organization, helps to expand into new markets smoothly and easily and also simplify the IT environment of the organization. 
	It is very simple ERP software and is not at all rigid like other ERP solutions. It helps to take the benefits of the latest technologies, make the changes in the market landscape and helps in enhancing the agility of the business.  
	It offers flexible services under its CloudSuites bundles, which are tailored towards the key industrial verticals which are manufacturing, retail and healthcare.  
	Its built for a data driven intelligence and system innovation. It also delivers a base for the Intelligent Enterprise which accelerates the innovation and helps to harness the value of data across the connected business applications and ecosystems.  
	The database type of Epicor ERP 10 is built on Microsoft optimised Server and Microsoft SQL Server. Epicor ERP 10 is twice faster than Epicor 9 and scales more than four times higher than ERP 9. ERP 10 is also very simple, easy and flexible to deploy.  
	System (installation) requirements
	Hardware: Hard disk space: 200 MB.
Memory: 1 GB.
OS: Windows 10 Pro, Enterprise, or Education (32-bit and 64-bit editions).
Important: Windows 10 S is not supported.
Windows Server 2019 Standard, Essentials, or Datacenter.
Windows 8.1 Professional or Enterprise (32-bit and 64-bit editions).
Windows Server 2016 Standard, Essentials, or Datacenter.
Windows Server 2012 R2 Standard or Essentials (64-bit edition).
Windows Server 2012 Standard or Essentials (64-bit edition).
	Windows Server 2008 R2, 64 bit, or later; .NET 4.5.2, MSMQ, and
Powershell 3.0 or newer and Windows Server 2012, 64 bit, or later; .NET 4.5.2 and MSMQ
Processor. 2GHz Pentium Dual Core, minimum
RAM. 4GB, minimum
Disk. 4GB available space, minimum
Display. 1280 by 800 or higher resolution, minimum.
Software. One of the following:
Windows 10
Windows 8.1
Windows 7
	Client Hardware:
Pentium 90 Mhz.
32 Mb Memory.
VGA Display adapter.
2 Mb hard disk space.
Client software:
Windows 7/Windows 8.0/Windows 8.1.
Infor BW.
Infor LN system 
software:
Infor LN 10.
	Software requirements to install SAP ECC 6.0:
Windows server 2003 32-bit SP 2 or Windows Sever 2003 64-bit OS.
Driver CDs
Adobe Acrobat Reader for Installation Manual
SAP ECC 6.0 ides SR2 installation will be completed approximately in 20 hours with the above configuration. The installation time can be reduced further by upgrading hardware configuration like quad 2 Core Processor with 8 GB RAM and 1 TB Hard Disk Drive.
Hardware requirements to install SAP ECC 6.0:
HDD − 250GB + 45GB Hard Disk Space
RAM − Minimum 4 GB of RAM — The more the capacity of RAM, the less time it takes for installation
CPU − Intel Dual Core or Core 2 Duo Processor — If you have a 64-bit processor, you can go for ECC 6.0 EHP4 instead of ECC 6.0 SR2.
CD Drive to copy the software
	Windows Vista / 7 or 8 Professional (32-bit or 64-bit)
2.8 GHz or higher. Recommended dual core 32-bit or 64-bit processor and SATA hard drives. SSD is especially beneficial if the workstation runs multiple applications at the same time.
4 GB (add more RAM if the workstation is shared by multiple applications)
Disk Space for Epicor Smart Client Software
2 GB
SVGA or higher adapter Color SVGA monitor with 1024 X 768 resolution
DVD-R
DVD-R drive (if not on server)
Other
Internet connection recommended for online support and downloading latest updates
	Approx. cost (if available)
	The cost of Microsoft Dynamics Finance and Operations, retail, talent, power apps flows cost $190 per user per month 
	The price ranges from $300000 to $2 million
	Inform ERP cost approx $150 per month per user. It does not offers any trial version
	SAP Financials only will cost around $645 base fee plus $185 Pro, $135 limited per user per month. 
	The pricing starts at $175 per month per user.
	Customisation and flexibility
	The Microsoft 365 Customer Engagement on-premises provide powerful customization and also application making capabilities which doesn’t requires any writing of code. It uses WSYSIWYG designer and editor tools, organizations can fully customize Dynamics 365 Customer Engagement.   
	It allows extending functionality with new menus and fields etc. it also allows changes without coding and can be made instantly available in the organization. IFS’s customization is very different from customization which requires application build and deployment
	The company Infor delivers it customers with deep understanding and specifications of each industry needs and hence there is no need of customization. 
	SAP is a standard software product and requires to be adjusted as per the customer’s specifications for the on-premise software. This is called Customization.
	All customization are managed and stored at metadata which is propagated to deployments automatically and on demand. Also customization does not touch the baseline code which means installation of service packs is a simple process.   
	Market differentiation (unique selling point of each system)
	The Unique Selling Proposition of Microsoft Dynamics is its employees and management who partners with various tech giants to resolve the problem and deliver a real-time solution to the customers.
	The IFS ERP holds its application in a wide range of industries which includes construction, engineering, oil and gas, drilling, manufacturing and in aerospace.
	The USP of Infor ERP package is targeting the maturing companies in Asian companies by discussing on the markets in which Infor competes to acquire the customers.  
	It delivers highly innovative products through innovative research & development programs and is positioned very well worldwide as the No.1 ERP company.
	The USP of Epicor is their ERP solution is easy to implement. Also, through innovation and product improvements the customers are allowed to enjoy the benefits of the latest technologies. 
	Local support (Australia)
	The support centers are located in Sydney, Melbourne, Brisbane, London, Fargo & Perth
	IFS ERP is located in Brisbane, Perth, Melbourne and Sydney in Australia
	The local offices of Inform ERP in Australia is located in Adelaide, Gold Coast in Brisbane; Melbourne and Sydney 
	SAP offices and support centers in Australia is located in Perth, Sydney, Adelaide, Brisbane, Canberra, Melbourne.  
	Epicor has local support in Australia – Melbourne and Sydney 
Report of ERP System
Basic structure of an ERP system
Enterprise Resource Planning or ERP is a process of application of software which supports the integration, standardization and streamlines the business process across various streams like finance, human resources and procurement as well as distribution and other departments. It operates on an integration of software platform which is used for common data definition operating on a single database. Thus the basic structure of an ERP system can be shown in the form of a diagram as below:
 (
ERP
)
 (
H
uman 
R
esource
) (
Planning
) (
Sales
) (
Supply Chain
) (
Operations
) (
Finance
) 
Five key advantages and disadvantages of using an ERP system
Advantages
1. Helps in the optimization of the business process
2. Assists in getting reliable information on a timely basis
3. Elimination of unnecessary data and operations
4. It enhances the quality of customer service due to the reduction in the response time.
5. The organization is able to compete efficiently in the business environment with the implementation of ERP system.
Disadvantages
1. Installation of the ERP is costly.
2. It requires skills and training of the workforces which is another huge expenditure for the company.
3. The system can be difficult to use and produce error resulting in halting of the business operations and delays
4. The benefits of ERP implementation is derived immediately but after longer period of time. 
5. ERP implementation may have various advantages for the organization but do not guarantees complete success for the company. 
ERP implementation life cycle
ERP implementation Life Cycle stages are as follows:
1. Selection of packages which suits the needs of the company. It should be selected after proper research, evaluate the degree of customization and stability it can provide to the business.
2. Planning of the project which should be clear and realistic and should include timelines and deadlines for the project and help in identification of the roles and assignment of responsibilities for the ERP implementation process.
3. GAP Analysis to define the current state of the model and the direction it will head to in the future depending on the organizational goals.
4. Re-engineering is the changes in the number of employees and their job responsibilities for successful implementation and operations of the ERP.
5. Training helps to increase the efficiency of the employees and make them familiar with the ERP system.
6.

FNS50217 | FNSACC505 Establish and Maintain Accounting Information Systems Trainer’s Guide | V 2.0 | Apr 2018 Assessment Task 1: Assessment Task Compare and Analyse Accounting ERP Systems Schedule TBA...

Answer To: FNS50217 | FNSACC505 Establish and Maintain Accounting Information Systems Trainer’s Guide | V 2.0 |...

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment