Only need help for question 6, I would really appreciated whoever can answer this question. Background Forrest runs Y No
Posted: Thu May 26, 2022 8:17 am
Only need help for question 6, I would really
appreciated whoever can answer this question.
Background
Forrest runs Y Not Flowers, Inc. (YNF), a wholesale flower
distributor with stores in several major
metropolitan areas of the U.S. He is considering expanding his
business, but he thinks his current
accounting and financial systems are restricting that expansion. He
also worries that YNF is not
adequately prepared to face expected business risks. He has come to
you for assistance.
Instructions
Your supervisor met with Forrest and discussed his requirements in
detail. At that meeting, they agreed
on the following deliverables for your project.
1. Document process activity using BPMN. After gaining an
understanding of YNF’s business
processes, you will document current processes using business
process modeling notation
(BPMN). This involves documenting at least five current business
processes. These diagrams will
serve multiple purposes. YNF expects to use them to train new
employees. Plus, they will
provide information about potential improvements to those processes
by the efficient use of
information technology. Additionally, they will also highlight
areas where YNF is exposed to
unnecessary risks in his business.
2. Prepare an integrated data model using UML class diagrams and
the REA framework. This data
model will serve as the blueprint for YNF’s prototype database that
you will also develop. Also,
prepare a corresponding table listing for the prototype database.
Identify where different
fields/attribute names provide the same information and develop
recommendations for
changes in field names.
3. Prepare a prototype database for YNF. Forrest has agreed to
provide financial data from his
business for the 1st quarter of his fiscal year. That data will be
in EXCEL format. You will move
the data into Access, structure it appropriately, and set
relationships consistent with your data
model. Make changes as necessary in file structures to implement
efficient tables and eliminate
duplication.
4. Prepare financial reports using your database. You will prepare
queries as necessary to provide
the following reports and management information.
a. YNF income statement for the 1st quarter
b. YNF balance sheet as of the end of the 1st quarter.
c. Income statements for each YNF stores for the 1st quarter.
d. Other performance measures that you believe YNF should
adopt.
5. Evaluate the financial performance of YNF for the 1st quarter.
Use your Access queries to also
prepare formal financial statements and compute appropriate ratios
to evaluate performance
against the industry and past performance. Clearly explain what
those ratios mean for Mr. Z’s
business.
6. Assess the business case for use of information
technology in the business (see chapters 13 and
14 in the text). Y Not Flowers wants to move to a cloud-based
accounting system, such as
Netsuite or QuickBooks Online. Your assessment should identify the
costs of the change in
technology, while also specifying which business processes would
change and how they would
change in as much detail as possible.
appreciated whoever can answer this question.
Background
Forrest runs Y Not Flowers, Inc. (YNF), a wholesale flower
distributor with stores in several major
metropolitan areas of the U.S. He is considering expanding his
business, but he thinks his current
accounting and financial systems are restricting that expansion. He
also worries that YNF is not
adequately prepared to face expected business risks. He has come to
you for assistance.
Instructions
Your supervisor met with Forrest and discussed his requirements in
detail. At that meeting, they agreed
on the following deliverables for your project.
1. Document process activity using BPMN. After gaining an
understanding of YNF’s business
processes, you will document current processes using business
process modeling notation
(BPMN). This involves documenting at least five current business
processes. These diagrams will
serve multiple purposes. YNF expects to use them to train new
employees. Plus, they will
provide information about potential improvements to those processes
by the efficient use of
information technology. Additionally, they will also highlight
areas where YNF is exposed to
unnecessary risks in his business.
2. Prepare an integrated data model using UML class diagrams and
the REA framework. This data
model will serve as the blueprint for YNF’s prototype database that
you will also develop. Also,
prepare a corresponding table listing for the prototype database.
Identify where different
fields/attribute names provide the same information and develop
recommendations for
changes in field names.
3. Prepare a prototype database for YNF. Forrest has agreed to
provide financial data from his
business for the 1st quarter of his fiscal year. That data will be
in EXCEL format. You will move
the data into Access, structure it appropriately, and set
relationships consistent with your data
model. Make changes as necessary in file structures to implement
efficient tables and eliminate
duplication.
4. Prepare financial reports using your database. You will prepare
queries as necessary to provide
the following reports and management information.
a. YNF income statement for the 1st quarter
b. YNF balance sheet as of the end of the 1st quarter.
c. Income statements for each YNF stores for the 1st quarter.
d. Other performance measures that you believe YNF should
adopt.
5. Evaluate the financial performance of YNF for the 1st quarter.
Use your Access queries to also
prepare formal financial statements and compute appropriate ratios
to evaluate performance
against the industry and past performance. Clearly explain what
those ratios mean for Mr. Z’s
business.
6. Assess the business case for use of information
technology in the business (see chapters 13 and
14 in the text). Y Not Flowers wants to move to a cloud-based
accounting system, such as
Netsuite or QuickBooks Online. Your assessment should identify the
costs of the change in
technology, while also specifying which business processes would
change and how they would
change in as much detail as possible.