Cost savings can be computerized accounting programs reduce staff time doing accounts and reduce audit expenses as records are neat, up-to-date and accurate. This system allows them to record business transactions accurately and generate financial reports quickly for management review. However if Rumble carry less transactions this means they won’t need to have computerised accounting system because it is very expensive for them to use. In this case it is best for them to have manual accounting system because it is reliable, cheap and easy to use. They can easily do their transaction without problems.
The IT allows us to process a greater level of work in a shorter period of time, which leads to business being more efficient and productive. When using IT for completing administrations tasks it allows us to correct and amend documents efficiently with no need to start the document from the scratch. It also allows us to change layout and look of document right away. One of the benefits of information technology is also the capability to store a large amount of information. Section 2 – Understand how to manage electronic and paper-based information 1.
Functions of audit productivity software include electronic working papers, electronic sharing of schedules, calendars, and files, time and billing, reference libraries, and document management. Using electronic working papers is one way for an auditor to increase productivity as they can automate the planning stage of an audit. The auditor can minimize the time and effort creating manual audit papers and questionnaires and increase his or her efficiency. With the use of electronic working papers, the auditor can import the data of a client and electronically input audit adjustments. He or she is then able to produce spontaneously GAAP-based financial statements.
Unit three: Principles of managing information and producing documents Assessment You should use this file to complete your Assessment. • The first thing you need to do is save a copy of this document, either onto your computer or a disk • Then work through your Assessment, remembering to save your work regularly • When you’ve finished, print out a copy to keep for reference • Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number. Please note that this Assessment document has 5 pages and is made up of 4 Sections. Section 1 – Understand the purpose of information technology in a business environment 1. In relation to your current business environment (or one that you are familiar with), identify at least two different types of information technology that may be used when completing work tasks.
What are the benefits to businesses (and others) of using information technology for doing work tasks? The benefits to business of using information technology are that it saves time, allowing a business to work more efficiently and be more productive and also be more accurate. Information technology means a business can communicate faster with its clients, suppliers and potential customers. It can store large amounts information electronically including orders and accounts so takes up less room with filing and storage. Also the internet can be used to research thing quickly and easily, whether this is cheaper postage better quality raw materials etc.
Unit three: Principles of managing information and producing documents Assessment You should use this file to complete your Assessment. • The first thing you need to do is save a copy of this document, either onto your computer or a disk • Then work through your Assessment, remembering to save your work regularly • When you’ve finished, print out a copy to keep for reference • Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number. Please note that this Assessment document has 6 pages and is made up of 4 Sections. Name: Monica-Ana GHIRAN Section 1: IT at work This section will help you to evidence Learning Outcome 1: Understand the purpose of information technology in a business environment. |Learning objective |Place in Assessment | |1.1 Identify different types of information technology that may be used for work tasks |Question 1 Page 1 | |1.2 Outline the benefits of using information technology for work tasks |Question 2 Page 1 | 1.
Unit three: Principles of managing information and producing documents Section 1 – Understand the purpose of information technology in a business environment 1. In relation to your current business environment (or one that you are familiar with), identify at least two different types of information technology that may be used when completing work tasks. Word processing Spreadsheets 2. What are the benefits to businesses (and others) of using information technology for doing work tasks? Speed Flexibility Quality New possibilities Efficiency Ref: IT for Business Success http://smallbusiness.chron.com/information-technology-business-success-4019.html Section 2 – Understand how to manage electronic and paper-based information 1.
* Convenient logistics and short delivery time lead to quick market response, lower inventory and higher customer satisfaction. * Intellectual property and the manufacturing technologies can be better protected. * Products “made in USA” give customers more confidence and may generate extra appreciation. * Large customers, like Walmart, Target and Bed Bath and Beyond are expecting the products to be local made. * Effectively avoid the potential vendor trust problems and supply chain risk is lower.
Please remember to SAVE this document to your computer or “My Documents” on your computer. 6. Submit the saved file to your “Assignment Drop Box”. | Tips for answering questions: | * Read the question more than twice, if necessary, to make sure you understand what you are asked to do. * Find the key words in each question and construct your answer to address those
It can be applied to your company's computer network, storage, work force maintenance and product manufacturing, among other things. A small business should utilize capacity planning because of the financial and logistical benefits it offers. Budgeting Capacity planning outlines the personnel and equipment your small business will need in order to maintain current operations and reach goals. That information becomes important when developing annual budgets and the spending portions of business and marketing plans. When you can closely estimate how much your expenses will be, it becomes easier to develop financial projections.