Submission task # 02
- 1. 1 Assignment Task 2 Accounting Support Submitted to Submitted by Date of submission
- 2. 2 Cloud base data storing introductory plan Cloud base is a support system used for companies in their accounting organizations. New and running companies need to accomplish their accounting requirements. In most companies, Accountants work manually or use computers to store data. It’s a very tough job and chances of errors are supplementary in the accounting documents. If a company uses cloud base data storing structure, the tasks will be more comfortable for the accountant’s staff. To introduce the application of the cloud base, the company should identify its short time and long-time plans and tasks. Short time assignments can take one day or some hours either long-time projects take months and years. The goals of both projects are different. A project of a Short period takes less money and energy and has low-risk influence. The goal of the short term projects is quite clear because it has limited time like 5 hours, 12 hours or 1 day and sometimes 3 days. The goal is to accomplish the task within the time limit with quality work. While the long-time tasks and assignments are time is taken and more features of risks involved in it. Due to those risks, we have to spend more money and time on it. Short term projects Long term projects Daily accounting reports Monthly and Yearly reports Manage accounts in daily bases The hiring of new staff and employees Updates of stocks inventory Pieces of training sessions for employees Budgeting Manage relations with suppliers Manage duties and tasks Inventory and sales details Observing the work of junior staff Other accounting and budgeting Budgeting:
- 3. 3 The company wants to shift its whole system into clod base storing medium. Introductory Budget is more important because when we introduce any new system or some modification in the existing system it will need more money. A company wants to enhance or upgraded its cloud system and data will be shifted on storing medium it will require more cost. We have to prepare a document where we analyze the company’s revenue its income and expenses. In the early stage, the company is not earning much profit maybe it lies on breakeven. So that is hard to manage a budget for the new system installation. Take an estimated amount for it and compare the budget as a whole to identify whether the company has those resources or not. Make sure that you are doing the right decision for the company and that new installation leads the company into profit. When we estimated the budget for new implementations we have to look forward that this will be more convenient for our employees and will help to enhance their work efficiency. Budgeting is more important to analyze the risks and failures before time. Many risks and hazards are involved in the implementation of new plans and procedures. So we have to analyze it before and make them fix. Preparation of Budget: When we install a new system we prepared a budget. Analyze the cost as a whole which is used in the application of cloud base structure. Make a comparison of cost used in last year and the current year or some times estimated for next year. We use step by step process for the budget provision Assume the estimated cost according to the last year budget Analyze the capacity of money according to the company’s current budget Determine the funding amount of installation of new policy and database which the company can pay. Describe any other cost which will be incurred next year.
- 4. 4 Estimate the amounts of expenses and other spendings of the coming year related to this year. Add up the cost related to the implementation of cloud base data storing process. It may include buying cost of cloud storing, fixing the costof the system, employee workshops, and training expenses. Attain the revenue rate from managers, CEO and other departments. Allocate the amount for the accounts department as a whole Discuss all the capital and budget reports with the CEO and other management seniors for their comments and recommendations. Put all the values and summarized data to create a budget document. Conduct a meeting with the CEO and management of the company to criticism the budget. This is necessary to find problems and issues in the report so that we have to implement the changes and modifications to remove errors. Check the alterations in the budget report and authorized the whole document with the CEO. After authorization update, the report in the company accounts software and in the record books. Steps and activities of introducing a cloud-based data store into the business. When we introduce cloud base data in the system firstly we have to regulate the goals for the data storing medium. Analyze the present situation of the company. Describe the additional resources and services that must be needed for the cloud system requirements. Choice the kind of cloud storage that will be best for your company’s accounts. Install the cloud structure in the accounts system of the company
- 5. 5 Conduct workshops and training sessions for the employees to learn about cloud data stores on how to apply it and work on it. Training of employees is required for a better understanding of the system. Choose the right persons for cloud maintenance and usage due to the security and secrecy of data. Only authenticate persons will be accessing the software like CEO and management division of the company. Install the software and put all the data into the cloud storing and set the required security measurements. The systemwill be implemented according to the legislature requirements Lawmakers make the laws, company rules and police according to higher authority management of the company. When a new structure is launched in the system many issues raised. Legislation and company policy is played a more important role to resolve conflicts and fix the issues of the company which accrued due to the new system implementation. The new system introduced with some new strategies and rules. These rules are set by organizational lawmakers. Most probably the security structure of the cloud base data storing system is introduced by lawmakers. They set the rules and allow access to secure data to limited persons. Laws will be implemented for the staff and employees. An accounting system is the most sensitive structure of a company so work will be done according to laws.