REA Date Model, accounting homework help
Barrington Products Company (BPC) is a midsized manufacturing company with three strategically located distribution centers in the Eastern, Midwestern, and Western United States. The manufacturing plant and headquarters are located in the Midwest adjacent to the distribution facility. Barrington Products manufactures a complete line of well-crafted, ready-to-assemble, and moderately priced home and office furniture. It has been in business for more than 10 years.
Barrington is committed to quality, design, and personalized customer service making it one of the most recognized names in the industry. Barrington sells its home and office furnishings to a select group of retailers across the United States and on its own website. Its business, due mainly to e-commerce and the growth of home-based businesses, has grown substantially over the past 3 years necessitating the design and installation of an enterprise resource planning (ERP) system to replace its old nonintegrated business systems.
You are in the accounting department at BPC’s Midwest manufacturing and distribution headquarters and have been assigned to a company-wide multifunctional business systems team to help design and integrate the accounting functions into the new enterprise resource planning system.
Management is concerned about the length of time and cost in designing and installing a new computer system and the possibility of any misstatements of financial information and loss of transactional controls that might occur during the initial stages of implementing a new system.
Barrington Products has approved this project based on achieving the following objectives:
- Provide an integrated, company-wide single view of the business financial results.
- Share data across all functions to improve efficiency and effectiveness.
- Reduce inventory levels due to more timely information.
- Conduct standardization of procedures across all locations.
- Have faster customer order turnaround.
- Reduce errors caused by multiple entries of data into separate standalone systems.
To achieve these objectives and control time and costs, the team has decided to look for an enterprise resource planning (ERP) system supplier and choose one that can aid in the development, installation, and implementation of a system customized to address Barrington’s specific business requirements. You are responsible for determining which ERP system will best meet the accounting information system (AIS) requirements for Barrington Products Company.
You have determined that the greatest challenge will be the revenue cycle, so you want to focus on this cycle first.
500 words APA FORMAT
2 REFERENCES WITH PROPER CITATION
Due to your concern with the revenue cycle, you want to start putting together a basic model for the REA data model for the revenue cycle to present to the business systems team.
- Identify and describe characteristics of the REA data model.
- Create a graphic presentation depicting a basic REA model for Barrington’s revenue cycle.
Deadline: 3 hours