Assessment task 3
Pink Kitchen (PK) is a small business, located in Wollongong that provides quality kitchenware products such as baking, cooking & measuring equipment; specialty cake decorating, chocolate & confectionery supplies; and a wide assortment of kitchen tools, knives & appliances. Established in 2010, it has been expanding slowly and has opened two new stores in two different locations in Berry and Sutherland. Their success is due to the company carrying high quality, independent and established brand names from the United States and Europe. This has made PK becoming popular amongst everyday cooks as well as professional cooks, hotels and restaurants.
Problem at hand:
Over the past few months the company has started considering taking the business online and to have their website ready just in time for the Xmas rush. However, the problem is that they have been using manual accounting system, where they keep track of the financial records, including stock, tax, payroll, accounts receivable and payable, with a written ledger of transactions. Having a website and being able to sell their products all over Australia, would mean that they require to have an online accounting software, to be able to automate accounting, inventory, sales, purchasing and order processing. The accounting software would help the owners to keep track of sales and growth of their company.
Pink Kitchen has decided to employ an accounting student that is ‘tech-savvy’ and would be able to help them in choosing an online accounting software and being able to setup the system for them. The company is interested to know in what ways the online accounting software would be beneficial for them, compared to their traditional way of doing their accounts for their three stores located in Wollongong, Berry and Sutherland. PK does not want to lose their current profitability by expanding too fast or paying high price for a software that is partly relevant to their current needs.
You have been employed at Pink Kitchen to analyse and look for the possible available online accounting software’s that would be relevant to the company’s needs. You are required to prepare a report and your report must include the following details;
- Identify two online accounting software’s that would be helpful for PK expansion of business.
- Review the online accounting software’s and explain the difference between their old system and the use of these software’s. How would this software be useful to them for their current and future growth?
- Identify and explain in detail the advantages, disadvantages, limitations and risks of using such online software’s.
- Sign up for your preferred online accounting software’s free trial and explain how the software operates. Provide a print out of the email you have received for the trial, as an appendix to your report. With reference to three specific economic transactions that would take place at Pink Kitchen, detail how this online accounting software can be used and useful.
- Provide a summary and conclusion of your analysis and your chose for the company and why you think you have chosen the best software that is profitable for this company.
The format of the report must be as follows;
- The body of the report to be at least 2 pages in length.
- The report must include a title page and executive summary (not included in the body of the report)
- It must be typed using Times New Roman, 12 point font, 1.5 line spaced and 3cm margin all round.
- If you are using academic or professional journals, books, or online websites, you must be referencing them as per Harvard Referencing System, that can be accessed through UOW library website.
- Students are to strictly avoid any plagiarism. The following link can be useful: http://www.uow.edu.au/academic–integrity/students/avoidingplagiarism/index.html;
as well as adhering to the University’s Policy on Plagiarism: https://www.uow.edu.au/about/policy/UOW058648.html.
This is an individual assessment task. Submission is in week 9, 5 Pm Friday 14 July
2017 via the ACCY901 Moodle site and uploaded into your tutor’s folder. Marks will be awarded for
- Providing sufficient and correct solutions and information for the above requirements
- Report-style format (for further help and information, please check the UniLearning website; http://unilearning.uow.edu.au/report/1e.html )
- addressed to the target audience,
- appropriate grammar and spelling.
Marks for reports submitted by the due date will be made available via SOLS in week 11.