Create a table that identifies weaknesses and potential threats to a business and potential internal controls to address the weaknesses and threats found in the chosen cycle.

For this project, you will assume the role of a consultant responsible for assessing a client’s business operations and making recommendations for an accounting information system. To complete this project, review the Final Project Scenario document.

Specifically, you must address the critical elements listed below. Most of the critical elements align with a particular course outcome (shown in brackets).

I. Client Recommendation: Prepare a written recommendation for the automation of a client’s accounting system. Address the following elements in
detail:

a) Describe the current accounting environment and the stakeholders of a business. [ACC-315-01]

b) Map one accounting cycle (sales, accounts receivable, accounts payable, inventory, or payroll) using a data-flow diagram and system flowchart.
[ACC-315-02]

c) Use an REA diagram to identify the pertinent resources, events, and agents within the chosen accounting cycle. [ACC-315-02]

d) Create a table that identifies weaknesses and potential threats to a business and potential internal controls to address the weaknesses and threats found in the chosen cycle. [ACC-315-03]

e) For the chosen cycle, describe the data elements that need to be captured in the accounting information system (AIS), and organize that data
into relational database tables. Include the data type, structures, and whether the data element is a primary or foreign key. [ACC-315-05]

II. Executive Summary Presentation: Prepare a presentation as a visual accompaniment to the recommendation.

a) Explain your findings. Describe the business’s strengths and weaknesses and what the results indicate about the business’s ability to be
successful. [ACC-315-01]

b) Describe how and why an automated AIS would benefit the business. Explain the attributes and advantages of an automated AIS and the
specific ways an automated AIS would benefit the business. [ACC-315-01]

c) Recommend accounting application software that would help the business. Explain the features of accounting application software along with
your rationale for the chosen software. [ACC-315-04]