Riordan Manufacturing Hardware and Software Selection Essay
There is a necessity to have either hardware or software to integrate the accounting information into an automated system for viewing by the proper individuals. Below, Learning Team A will show who needs to access this information, what controls will be implemented, the type of reports to be generated from these hardware or software and importantly what type of information will be available through corporate Intranet and the Internet. Having the proper hardware and software integrating Riordan's data into automated systems will make life easier for those involved with all the accounting cycles, especially accounts receivable.
Who Needs Access To What Information
Many different departments of Riordan …show more content…
Internet and Intranet
Riordan will have some reports available on the internet for stockholders and outside interests to access. These reports will include quarterly and year end reports that will be uploaded after approval by the CFO. This will allow research into the financial standings of Riordan in order to show the stability of the company and the strength of the stock holdings.
There will also be a corporate intranet available to all internal interests. Most reports will be available on this system in order to keep satellite locations in the loop on financial decisions and information. The IT department will give different access to the various levels of the company through the use of password protection. As described in the access section above, not all levels will need to view all reports. For example, A/R clerks will need access to Agings but not General Ledger entries, while the Board members will have use of most reports from all departments of the company.
Having a properly integrated software can be beneficial to all those involved with the finances of the Riordan organization. This software and hardware are viable assets to every member of the financial team from the CEO to the general accountant. Implementing the controls as