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Accounting ACCY901 T1, 2018

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Order type: CourseworkSubject: AccountingAcademic level: MasterStyle: HarvardLanguage: English (U.S.)Order Description

ACCY901 T1, 2018Assessment 3: MYOB ExerciseCore 7 Fitness OverviewCore 7 Fitness, a fast growing business in the past 9 years, provides elite personaltraining programs in 5 locations across Sydney. Recently, due to high demand in theservices, Core 7 Fitness planned an expansion into other major capital cities throughoutAustralia.Problems at Core 7 FitnessCore 7 Fitness has been using a manual accounting system, where they keep track ofthe financial records, including fitness supplies, tax, payroll, accounts receivable andpayable etc. with a written ledger of transactions. However, with the growth in sales,complexity of managing 5 businesses, and the inefficiency and errors involved in using amanual system the owners need a change.You are required to consider a solution for Core 7 Fitness:MYOB is a leading provider of business management solutions for small to medium sizeorganisations in areas including accounting, payroll, job management and financialreporting. By reviewing the various case studies discussed on the MYOB website as aguide1, you are required to write a report to the owners on the benefits of converting tothe online accounting software tool MYOB. This report should address the followinginformation:1. Outline the economic transactions that would take place at a small business.2. Outline the benefits of using an online accounting software tool.3. Outline the problems Core 7 Fitness face by using a manual accountingsystem.4. With reference to three (3) specific economic transactions that would takeplace at Core 7 Fitness, detail how MYOB would be used and useful.5. Outline any limitations or risks that Core 7 Fitness may face in theimplementation of MYOB.Report Specifics:Your report will begin with a ‘before’ and ‘after’ summary table that lists the difficultiesand inefficiencies before the implementation of MYOB and the perceived benefits after.You will then provide a response to the five (5) points listed above. The report mustinclude an assessment cover page.
1 www.myob.com/au/enterprise/case-studiesFormattingThe report is to be Word-processed, size 12 Times New Roman Font, 1.5 spaced and tobe 1,500 words (plus or minus 10%) in length.

 
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