Accounting Software Literature Review

Document Type:Research Paper

Subject Area:Accounting

Document 1

Currently, accounting software packages have extended their use to include modules used decision making process the management with the intent of bringing a competitive edge. The use of accounting software in Australia has taken a great shift over a period due to the technology advancement. Among the most competitive accounting software companies in Australia is, Xero which uses a model of Software as a Service (SaaS). It gives a free API for the customers and third-party vendors to integrate other application into a single unified ledger in a cloud. Intuit and MYOB are other software companies which are widely used in Australia. In this regard, Qantas has not adopted centralized or a decentralized structure in their organization. Instead, Qantas organizational structure has the aspects of two systems; centralized and decentralized organizational structure.

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The current organization of Qantas is made up of a board of directors which ensures that Qantas airline has the most appropriate corporate framework of governance that provides creation and safeguarding and enhancing the value of the shareholder (Qantas. com, 2016). Under the top apex of the Qantas leadership, various departments exist. This is done to ensure a clear and more transparent issuing of responsibilities as well as authorities. Though this process adopted by Qantas airline ensures transparency and quality decisions, it often leads to delays in the situation where quick decision making is required. This can slow down the progress of the company and can tarnish companies image if the situation that requires quick decision making involves is a customer related issue (Al-Mashari, 2003).

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Most Likely Acquisition Method The acquisition of software by various companies and organization varies greatly. The methods of acquisition depend on the activities of the organization and the size of the organization. Qantas has a sophisticated computerized management system that ensures a very optimal mix of airfare levels derived from a wide range of airfares charged for thousands of flights that available per day. Such complex system can aid in maximizing revenue if they are appropriately used. Revenue recognition is a complicated matter for airlines, Qantas included, since revenue is most often received before the traveler uses their tickets to fly. Travel/ QantasSales accountingTravel/ Other airlines m Outward billing Financial MatchingRevenue reconciliations The figure above shows a procedure that is used to account revenue.

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The departmentalization of the operations allowed the creation of sales department which is responsible for ensuring that the financial database is always updated for ticketing process or sales. Instead, Qantas should find less bureaucratic systems of solving disputes (Grey, Debreceny and Hayes 1) Development and adoption of the accounting software packages Businesses are always faced with a dilemma when it comes to choosing between the current software and acquiring new attractive software. This could be because of the lengthy processes of adopting the new software. It usually requires more investment in the installation and training on how the software operates. This may sometime discourage business managers from taking it. They should, however, realize that investing in the new productive software provides increases the capabilities which in return provide flexibility in design and excellent reporting flexibility.

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It requires a significant time to assure accuracy. Software providers sometimes, increase the concern for human error such as invalid entries. Although consistency is improved with software providers, the data may be corrupted from a misunderstanding of the data structure. If a recommendation is made to get ahead with the new software, a consultant needs to be involved in estimating the time required complete the installation tasks (Frazer 1) Accounting software which is in the market may not be able to fulfill the need of some companies. Therefore, consideration of the software compatibility with the system of the company is essential. It is a platform which offers a provision for collaboration between many small entities to make one practical application which increases the effectiveness of the decision-making process (Ingram 1).

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Current Gaps and Recommendations The booking process is what I believe causes poor coordination among the employees. This is because Qantas airline has various ways of booking, for instance, it can be done online, from the airport and even from the third-party vendor. Confusion may arise between the personnel on the actual number of people on a specific flight or the remaining number of seats. From the Qantas Review page, there are reports that there has been wrong booking and timing of flights ("Top 115 Reviews And Complaints About Qantas"). edu. N. p. Web. 8 May 2018. pdf. Qantas. com.  Corporate Governance | Qantas. [online] Available at: https://www. " Qantas. com. N. p. Web. " Growthpath. com. au. Web. 8 May 2018. aero.  Qantas is averaging 30% passenger share in its top international markets.

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