Fluent Essays

ACC 315 Final Project Scenario Background You met Jill, the owner of Peyton Approved Bakery, a couple of years ago when she first started her business. You recall how much help she needed with starting her business, organizing her financial transactions, preparing financial statements for potential stakeholders, and making decisions related to growth and expansion. Jill has now approached you regarding her desire to expand the business. Since you have kept Peyton’s books since its inception, you are familiar with her business transactions; however, you realize that for Jill to grow her business, she must transition from her current manual way of doing business into a more automated mode of operations. The first step, you believe, is to automate her accounting information system. Although you are familiar with Jill’s numbers, you have no idea how her day-to-day operations occur. After looking over her financial transactions, you understand the business activities that Peyton Approved Bakery is primarily involved in: sales, accounts receivable, purchasing, inventory, and payroll. To get a better feel for how Jill actually operates the business, you schedule a meeting with her to discuss how these transactions occur. Initial Meeting During the meeting, you ask Jill to tell you more about her goals for the business. She indicates that she wants to provide quality treats for pets all over the country at a reasonable price. Jill states that since her business has grown so quickly, she thinks it is time to expand. She’s sure she can sell her products online and maybe even open another store in a different location, perhaps another state. You ask Jill to detail her current processes, and she tells you the following: BUSINESS ENVIRONMENT I pride myself in making delicious, freshly baked treats for pets of all kinds. We make everything from cakes and donuts to cookies and candy! We are truly unique. As you know, I hired two part-time employees to keep up with the orders. One employee, Pierre, bakes most of the items, and the other employee, Renee, is my “go-to ga”’! She does everything from taking orders, collecting payments, ordering supplies, and delivering products to keeping up with the inventory. With your help, I was able to secure a loan from my bank to help really establish the business; I would like to go back to them for additional financing. My parents also think that I should expand the business and are willing to invest in the expansion! SALES CYCLE A small percentage or our sales are purchased off the shelf; most of our business is special order. We sell half of our products through phone orders; the rest of our products are sold to customers who walk into our shop. Besides pastries, we also sell other related merchandise such as pet party accessories, pet dishware, pet toys and gifts, and so on. Both Renee and I handle the sales that occur in the shop. When a customer places an order, we writACC 315 Milestone Two Guidelines and Rubric Overview: The final project for this course is the creation of a client recommendation that includes flowcharts, diagrams, tables, narrative, and an executive summary presentation. The final product represents an authentic demonstration of competency because you will analyze a real-world scenario with the goal of making recommendations for an accounting information system. In this milestone, you will create a table that identifies weaknesses, potential threats, and potential internal controls, along with a brief paper describing the required data elements and the resulting relational database tables. Prompt: For this project, you will assume the role of a consultant responsible for assessing a client’s business operations and making recommendations for an accounting information system. To complete this project, review the Final Project Scenario document. Specifically, you must address the following critical elements: I. Client Recommendation: Prepare a written recommendation for the automation of a client’s accounting system. Address the following elements in detail: d) Create a table that identifies weaknesses and potential threats to a business and potential internal controls to address the weaknesses and threats found in the chosen cycle. e) For the chosen cycle, describe the data elements that need to be captured in the accounting information system (AIS), and organize that data into multiple relational database tables. Include the data type, structures, and whether the data element is a primary or foreign key. Rubric Guidelines for Submission: The completed milestone should be submitted as a 2- to 4-page document (excluding title and reference pages). Use double-spacing and 12-point Times New Roman font. Use APA formatting to cite any sources you use. Critical Elements Proficient (100\%) Needs Improvement (70\%) Not Evident (0\%) Value Weaknesses, Threats, and Internal Controls Accurately creates a table that identifies weaknesses and potential threats to a business and potential internal controls to address the weaknesses and threats found in the chosen cycle Creates a table that identifies weaknesses and potential threats to a business and potential internal controls, but table lacks detail or contains inaccuracies Doesn’t create a table that identifies weaknesses and potential threats to a business and any potential internal controls 45 https://learn.snhu.edu/d2l/lor/viewer/view.d2l?ou=6606&loIdentId=23730 Critical Elements Proficient (100\%) Needs Improvement (70\%) Not Evident (0\%) Value Data Elements in Relational Database Tables Accurately describes the data elements that need to be captured in the AIS and organizes that data into relational database tables, including the data type, structures, and whether the data element is a primary or foreign key Describes the data elements t