MPA506 Accounting Information System :
MPA506 Accounting Information System
Assessment 3: (20 Marks) AIS Application (Group assignment)
(Due date for submission in Week 6 COB 5:00pm Monday, 1 May 2023)
There are two parts for this assignment.
PART A: Software for management, accounting, and financial reporting
You are the principal of Smart and Company, Chartered Accountants based in Sydney, Australia. One of your clients, Good Grocery Pty Limited has asked for your advice on the new computerised accounting information. The grocery retailer makes approximately 1,250 sales per day per store and has 30 stores.
1. You are required to advise the Board on the appropriate software for management, accounting, and financial reporting. [5 marks]
2. Would you give the same advice to a grocery retailer with a single sore making 25 sales per day? If not, then why not? [5 marks]
NOTE: In your response should include the aspects of system application, training, economy, efficiency, effectiveness, privacy, cybersecurity, and cybercrime.
PART B: Standard Business Reporting (SBR)
Standard Business Reporting (SBR) is developed as a standard for Government Reporting in
Australia. Rather than using XBRL, the Australian Government created its own taxonomy of how
items need to be classified for reporting. The accounting, financial and payroll software has the SBR
codes applied for all government reporting.
1. Identify how SBR works in Australia and list two main areas of Australian professional
accounting practices where the application of SBR is currently mandatory. [3 Marks]
2. Explain the main aimed advantages for the preparers and the users of SBR program in
Australia. [3 marks]
3. Critically examine as to whether SBR experience in Australia is successful compared to
XBRL reporting to deliver its expectations. [4 Marks]
Note: you must provide the correct citation and reference for authentic sources used in evaluating the SBR reporting in Australia.
- The size of your report must not exceed 2 000 words
- Students must form a group of 3 members.
- Please use the appropriate referencing style.
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