HI5019 Strategic Information Systems

Accounting software comes under Accounting Information Systems (AIS), and refers to computer programs that enables accountants to do their operations in a more efficient and effective way (Turner & Weickgenannt, 2013). They are a fruit of technological advancements and come with various functions that help in processing transactions such as trial balance and payroll. Presently, there are many accounting softwares coming with different capabilities. Some softwares helps at managerial levels in decision making and other related analytical functions. In Australia, most accountants and specialists in the accounting field have benefited a lot from the merits that comes with the softwares. Most widely used accounting softwares in Australia are the MYOB, QuickBooks, Reckon, Saasu and the Xero (Qu & Yang, 2012). Choice of the softwares to use is often a challenge. However, analyzing the flexibility and functionality friendliness of each softwares helps in making decision which software to use. The present paper discusses various accounting softwares used in Australia covering their history, development, adoption, market size, leaders in the market and challenges faced by their users among other relevant information about these softwares. The discussion is based on research from various materials such as journals, magazines, newspapers, books and trusted websites. Therefore the information is reliable and accurate.

Xero was established with the philosophy of open development and innovation. This is a result from the founder’s inspirations and motivations. Rob Drury and Hamish Edwards, likewise, had entrepreneurial capacities that established out the frameworks of the Xero accounting software, also their ideas and values, which are present right up 'til today. The key movements of Xero incorporate innovation, cloud–based programming and design; the enablement of these mentioned activities are driven by the company’s inherent motivational society, adding to the association's development. Other refined elements that empowered Xero's development incorporate the originators' forming of the association's attributes, the association's longing to interminably look for new open doors, and the association's interweaving into a far reaching system of development stages. With everything taken into account, Xero is an association created from a paradigmatic stone of development, formed upon by its founder’s goals, and improved all through time, by means of monetary, hierarchical, and vital development.

MIS Quarterly Executive, 2014

The standards-based, multi-provider cloud IT sourcing model implemented by CBA enables applications to be frequently and rapidly shifted between cloud providers. The model moved CBA toward pay-as-you-go IT, cut some infrastructure provision and maintenance costs by 40%, and reduced time to market for new applications by several weeks. Implementing it required internal capabilities to design complex IT solutions, manage and integrate external providers, and govern application development.

The implementation of off-the-shelf small business accounting (SBA) software has become widespread among small and medium sized enterprises as it has become affordable and technically powerful. At the same time, selecting and implementing a suitable accounting software from among the numerous available software packages is often difficult for small businesses. Using interpretive approach based upon a qualitative research methodology, this paper explores the challenges faced by small businesses in New Zealand implementing SBA software. User confusion, lack of external guidance and support, and lack of accounting skills have been identified as major issues faced by small businesses in implementing SBA software. The external consultant’s play significant role in successful implementation of SBA software, but currently very little research has been done in this area.

International Journal of Multidisciplinary Research and Development, 2018

Bank fraud and the fall of world-leading business organizations have triggered scholars and professionals to reexamine the link between fraud risk management, and the bank's performance. The purpose of this paper is to propose a conceptual framework for measuring fraud risk management (preventive, detective, and responsive fraud risk management), risk culture and bank performance which could be used by banks and regulatory bodies. By theoretically review the relationship between fraud risk management, risk culture, and bank performance by suggesting future research agenda in the area. From the comprehensive review of past researchers in this area, it is found that fraud risk management has a positive relationship with bank performance. Similarly, evidence has shown that risk culture influence bank's performance. As studies that link fraud risk management, risk culture and bank performance are rare this paper will be pioneering in the relationship; this may in a long way aid in making various business decisions.

Nowadays, the impact of globalization, the rapid advances in science and technology, the rise of big data, the wide spread of internet-based applications and even standardization have created the proper context for the emergence of a new concept -cloud accounting. The digitization of business, the increasing amplitude of virtual reality, the metamorphosis of traditional computer business schemes towards cloud-based solutions are underlying drivers of change that shape the actual principles of the market. On the other hand, accounting is an essential component of the framework that sustains any enterprise's activity. The focus of this article is the impact of the cloud computing paradigm on the accounting domain. We highlight different points of view and definitions assigned to the concept of 'cloud accounting', and also, the benefits and possible risks determined by the adoption of these services, particularly in relation to the accounting department. Our approach is specifically centered on the financial implications and the pricing offerings that come along with cloud computing. Furthermore, the paper analyzes the key aspects that should be considered by any company when deciding to choose the right accounting system. Understanding the specific requirements of the business is vital -be it online or offline.