Accounting information system assignment bravo accnet

Features and functions * Features Features Technology - 3-layer model software, developed on the .NET Framework platform and Microsoft SQL database management system, using WinForms, WCF

SCHOOL OF ACCOUNTING AND AUDITING

ACCOUNTING INFORMATION SYSTEM ASSIGNMENT: BRAVO & ACCNET

Group members:

Hanoi, 2021

Table of Contents

I Business Overview 2

II BRAVO Software 2

1 Features and functions 2

2 Costs and benefits 5

3 Training and implementation 6

III ACCNET Software 7

1 Features and functions 7

2 Costs and benefits 10

3 Training and implementation 11

IV BRAVO’s SOLUTIONS FOR ABC CORP 12

1 Bravo's solution at ABC Corporation 12

2 Application efficiency of Bravo software 15

3 Why did ABC choose Bravo? 15

4 Why did ABC not use Accnet? 18

I Business Overview

(Overview of ABC Corporation)

- Is the leader in industrial production group in Vietnam

- Currently, the company operates in 5 areas:

Iron steel (construction steel, rolled steel)

Steel products (including steel pipe, galvanized steel, drawstring steel, pre-winding steel)

Agriculture

Real estate

Household electronics

- In particular, steel production is the core field, accounting for 90% of the Group's

revenue and profit With a capacity of 8 million tons of crude steel per year, ABC is the largest steel producer in Southeast Asia

- ABC's market capitalization reached 11 billion USD, among the top 15 steel companies

with the largest capitalization in the world steel industry

II BRAVO Software

1 Features and functions

*) Features

Features

Technology - 3-layer model software, developed on the NET Framework platform and Microsoft

SQL database management system, using WinForms, WCF, SignalR, Xamarin, Angular…

- Allows program access in intranets (LAN) and wide area networks (WAN) over an

Internet/3G/4G, connections using the Microsoft Windows Communication Foundation (WCF) that support encryption, digital signature, ensuring data security

with high performance

Friendly, - The interface is custom designed according to the "layout" and can be changed

interface languages Vietnamese, English, Japanese, Korean, Chinese…

Manage

categories

- Search by types of information (Codes, names, characteristics, etc.) It's easy to export and receive data from Excel files

- Update multi-currency accounting (VND, USD, YPJ, EUR ) Supports many methods for calculating book rate differences (Monthly average, name…) Convert all reports to any currency when the user enters conversion rate

Import, edit

photos, and

save photo

data

- Import image data directly from Excel into the program Supports basic photo editing before storage (alternating, cutting, dark alignment, contrast, tones…)

- Photos and attachments may be limited maximum capacity to ensure efficiency for servers and network systems Data, photos and documents can be downloaded

and expressed in a thumbnail size and capacity Only when the user clicks on the details, the original photo/document is fully downloaded

System

security

- Manage access by username and password. Allows decentralization by user group and function

- Allows to record the entire user's operation log, especially record both the old and the new value when modifying the data

- Control remote access through the MAC address of the access computer.

The ability to

connect to

another

system

- Directly connected to tax declaration support software of the General Department of Taxation and other software through Excel, CSV, XML,

- Integrating other devices: Tracing data from external devices such as camera

system support the identification of license plates, obtains data directly from timekeepers, inventory machines, weighing

*) Functions

accounting

- Prepare and print Cash Book, Cash receipt journal, Cash disbursement journal… by computer Processing, tracking and accounting in many currencies such as VND, USD

Purchasing

accounting

- Prepare and print Purchase Book, Payable Ledger account… Lookup, control and alerts such features which will help users have quick information about debts thereby making reasonable payment decisions

Sales

accounting

- Prepare and print Sales book, Receivable ledger account… The software's lookup, control, and alert transactions which will help users manage and analyze debts and effectively manage cash flow, speeding up the collection of funds

Warehouse

accounting

- Prepare Goods delivery note, Stock card, Materials book Monitor the quantity and value of import and export of supplies at all stages in the production system thereby propose planning for supply reservation

Asset

Accounting

- Manage and monitor assets Calculate depreciation in a variety of methods, in accordance with the issued accounting standards

- Printing Report: Asset Book, Depreciation Account, Instrument Allocation Report

Cost and

production

- Prepare Finished product receipt or inherit data from the Production Management subsystem plus some accounting entry to calculate product cost

Tax and

payroll

accounting

- Manage, prepare invoices and connect to electronic invoice systems

- Calculating and recording "VAT", excise tax, corporate income tax: VAT declaration, vouchers of goods and services bought/sold, Excise tax declaration

- Data Export with programs of the General Department of Taxation

Capital

accountant

- Manage arising transactions through the declaration on the "List of fobs" Prepare

and manage Capital Report, Implementation/Settlement Report

General

Accountant

- Inherit data from other sections to implement auto functions at the end of the period

- Preparing financial statements including Balance sheet, cash flow statement, Income statement…

2 Costs and benefits

*) Costs

 BRAVO does not have a fixed fee due to the product supply process

 BRAVO determines its price by surveying the management and professional requirements of the enterprise

*) Benefits

Benefits

Comprehensive

governance on the

same system

(applicable to the

group model,

corporation)

- BRAVO Software allows the management of a very large corporation with many subsidiaries, branches on the same software version

- Software system has an open, flexible design, so it is easy to expand the scope

of management, design new subsystems and features based on the development and expansion of the business

Reduce the cost of

managing and

running a business

- Improve management efficiency, maximize employee productivity by connecting departments and standardizing workflows

- Reducing personnel involved in the management will save management costs

- All-in-One Management Software with integrate multiple management systems

that help businesses save on software investment costs

Cooperate with a

reputable partner

and have a good

development

foundation with

many ing-up

benefits

- BRAVO is a reputable unit in the market For many years BRAVO has been

voted and appreciated by prestigious organizations, such as "TOP 10 products

won Sao Khue title for 05 consecutive years (2016-2020)"; "Top 50 LEADING

IT enterprises in Vietnam, from 2015 to 2019" Below is a list of typical

customers of BRAVO:

- The software provided comes with the best deployment, after-sales and

customer care service with an ISO-standard internal control system

3 Training and implementation

Software

manual

training

(average 6

sessions)

- Provide and hand over training materials

- General introduction of software interface and operations

- Instructions for entering data at the beginning of the period, declaring system

parameters

- Instructions for performing work, daily and end-of-term operations, how to report

and get data

- Check the correctness of data entry

- Signing the training acceptance "SOFTWARE TRAINING CONFIRMATION

RECORD"

Support for

software use

(average 3

months)

BRAVO experts will provide direct assistance in solving problems when they arise

- Supports the conversion of available data into categories, documents And check

the correctness

- Forms of support: support through telephone or fax; or via Internet In some cases

BRAVO specialist can directly support at the customer office

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III ACCNET Software

1 Features and functions

*) Features

Features

Technology - Open and flexible system with various way to export and import data, making it

easier to connect with other applications

- Allow drill-down and drill-through to analyze data from general to specific

- Run on web browser (Chrome, IE, Firefox)

- Modern importing data display: multi-tasking and alerting by color

- Strict security and rigid decentralisation organisation (in every functions)

- Use Microsoft SQL Server for database management system allowing data processing to Terabytes Consistency between operating system and data allowing cost effectiveness and system error

- Build up 100% on Microsoft technology => high integration with Microsoft Office applications: Excel, Word, Access, Outlook

- AuditTrack system - control the entire process of working with data

Specialist

skills

- In conformity with Vietnamese Accounting Standards (VAS), updated with the latest regulations of Ministry of Finance as well as International Accounting Standards (IAS)

- Multi-currency: Allow accounting and recording, funds and debt management by a variety of currency

- Multilevel and multi-branch: aggregate data from branches and subsidiaries, from detailed data to aggregated financial statements

- Multi-tasking: allow users to work with different functions simultaneously

- Flexible and easy-to-use: allow setting up customisation parameters in conformity with business’s activities and characteristics

- Integration

- Decision support system: support management in making decision quickly

- Stabilization: over 20 years of experience

Functions

Cash and

funds

accounting

- Strictly manage cash receipt, cash payment and cash balance to every bank accounts and cash in treasury

- Report of transactions classified according to receipt and payment methods

- Show current balance when inputting data

- Completely provide different receipt and payment forms and general ledger forms

Printing report: Statement of Cash flows (direct, indirect, based on business’s

purposes of usage), Budget for receipt/ disbursement of cash, Report comparing actual and budgeted data on a monthly and three-month basis

Purchasing

accounting

-Payables

management

- Follow up payables by invoice, contract, construction

- Calculate age of debts

- Automatically allocate purchase expense into COGS by purchase volume or value

- Calculate and automatically prepare input VAT list

Printing report: Purchase Book (both goods and services) (classified by goods code,

suppliers, contract…), Payable ledger account

Inventory

accounting

- Calculate cost of inventory by many methods: FIFO, LIFO, AVCO, specific items…

- Report outdated and slow moving items, calculate inventory age

number => Size, color

- Follow up minimum and maximum level of inventory, input warning when exceeding limit

Printing report (automatically): Goods received notes, Goods delivery notes, Stock

card, Materials book, Summary Sheet,

Asset

Accounting

- Manage detailed information on the life of each fixed asset from the time of return to the enterprise until it is liquidated; automatic extraction, depreciation allocation …

- Manage fixed assets based on historical cost, wear and tear value, carrying amount, capital source, depreciation period, depreciated value, usage purpose, …

- Follow up reasons for increase and decrease of fixed assets

- Create Depreciation Table, create depreciation calculating entry and automatically transfer to general accounting

Cost

accounting

- Manage NVL/Standard Price/Actual Price, print financial statements and bookkeeping

General

Accountant

- Setting up fiscal year

- Automatically record closing and reversing entry, end-of-period entries: allocating entry,

- Update general ledger

- Provide accounting books from general to specific in 2 ways: General Journal and Voucher Register

Printing report: Income statement, Balance sheet, Income statement for tax purpose

Sales

accounting

-Receivables

management

- Follow up receivables by invoice, contract, construction

- Calculate age of receivables and interest for overdue receivables

- Analyse sales by goods code, salesperson, customers, regions, cities …

- Credit limit and credit term control - warning when sales are larger than credit limit set

Printing report: Sales book (both goods and services), Receivable ledger account,

Supplier statement to compare with customers’ balance

*) Costs

*) Benefits

 Access at anytime and anywhere

 Low cost and monthly payment

 Unlimited time of usage

 No upfront costs, no server, new equipment, and specialized IT department needed

 Personal customization makes it easy for users to adapt to software

 Time used to deploy the software is short

 Clear decentralization, accuracy and internal control, fraud detection and asset loss Besides these utilities, AccNet Cloud helps saving time and money needed for repetitive tasks, which allow managements and BOD to focus on decision-making and non routine tasks

 Provide accurate corporate financial information to help management make right and timely decisions

 Reduce the time to process documents, make the most of human resources for management

 Strengthening cost control, finding the cause of profit and loss, detecting the trends of cost, identifying areas to reduce costs

 Supporting the mobilization of capital thanks to clear and transparent financial information from aggregate to detailed data; help with financial estimating and planning

 Help create a tax report quickly, accurately, in accordance with regulations

*) Training

 Tutorials documents, Video Tutorials, Online or In-Person Training (both theory and practice manual)

 Provide training course for new staffs at client’s site or at Lac Viet training centers

*) Implementation

Implementation process - Envisioning (objectives, scope, time and risk

assessment of the project)

- Planning (scheduling, specifying responsibilities, resources, management policy, prepare functions needed)

- Developing (prepare hardware and software, manual, build data system, trial)

- Stabilizing (function testing, design procedures, system approval, troubleshooting)

- Deployment (operating, transferring to client, training users)

Deployment model - On cloud: Lac Viet provides resources and

infrastructure (servers, access, .) clients pay monthly subscription

- On client’s computers

Supporting and maintenance - Through hotline, email, website, direct support at

customer office

- Warranty for first year, maintenance and upgrading for remaining years (on a three-month basis), keep pace with changes in regulations of Ministry of Finance and tax authorities)

IV BRAVO’s SOLUTIONS FOR ABC CORP

1 Bravo's solution at Hoa Phat Corporation