Understand and explain the place of an accounting information system in the context organizational

Task: Purpose of the assessment Students are required to: • Understand and explain the place of an accounting information system in the context of the organisational structure and operating practices. • Identify, analyse and compare different types of accounting information systems and • Use different methodologies to evaluate various accounting information systems. Assignment Details Background You are working in an accounting/management consultancy firm. Your firm is focusing on different aspects of the accounting information systems. One of your firm’s clients is currently evaluating its accounting system, and the Chief Financial Officer (CFO) of your client thinks that they needed to invest in cloud-based accounting software to support the growth of the business. Required You are required to prepare a report to evaluate and recommend a cloud-based accounting software for an Australian ASX-listed company of your choice (your firm’s client).1 The report should include the following components: 1. Background • Describe your client and its business activities. • Briefly describe the basic business activities involved in the revenue and expenditure cycles of the selected company. • And identify the weak internal controls in these business activities. Further, identify the risks associated with these weak controls. 2. Systems requirements • Outline the software features and functionalities that your client should consider to support its business activities.