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ACCA accounting (SBR P3)
Sunway University
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Despite the fact that Harvard University, Thunderbird University, and Cranfield University (UK) have been publishing case studies for more than twenty years, hardly any case studies had been done on the use of accounting software (Hsu, 2007). Hicks & Barnes as quoted by Hsu (2007) argue that no reliable investigation
of the extent of accounting software usage had been found. Nonetheless, Philipson (2004) disclosed that in November 1979, the first spreadsheet program called VisiCalc was released for the Apple II. While doing his MBA at Harvard, it was the innovation of Dan Bricklin
Visicalc and its imitators revolutionized accounting, before the idea of software came into practice and frequent use globally. Cost management seemed to have existed for decades. Tanis (2015) states that cost accounting and management were generally believed to be artifacts of the
nineteenth century when large business initiatives like textile mills, iron and still works, appeared with broad use of machinery in industrial production. Readyratios (2015) has it that accounting Introduction to Accounting Software 1 software are application software which record
standard cost and measure actual costs against it. Also, Michael Prasad Group: Chartered Accountants (2015) puts forward and supports the notion that the right accounting software can aid in improvement of operating efficiencies and obtain a number of competitive
advantages. By the same token, the term ‘cost’ has been of great interest to various professionals. Software usage The use of accounting software is widely spread across the globe. Blundell (2007) as cited by Hsu (2007), agrees that QuickBooks is the number one
Microsoft Small Business Accounting Software (Hsu, 2007). In Africa, South Africa founded TurboCash package and was being distributed by Pastel by 1990’s and the product evolved to become widespread in South Africa and has 80% of the indigenous accounting software market
(Eamonn, 2012). In Uganda, many businesses used accounting software. For example, Kaffu & Rippey (2013) stated that a money lender who is an employee of the Kampala City Council (KCC) rents an office in town where he offers loans and consultancy services. Introduction to Accounting Software 2
Also, Baryamureeba, et al. (2008) in their research on the Status of Software Usability in Uganda found out that most Ugandans were happy to have adopted the use of software in their organizations. 80% of respondents said their expectations were fully met through the adoption of
computers in their organizations. Software acquired by organizations in Uganda was mostly custom built (48%) then freeware (27%) or re- engineered (25%). Of these, 62% was proprietary and 38% open source. In addition, there was a good return-on- investment for software users.
client’s state of affairs and needs, the correct accounting package should be selected from various accounting software packages that exist, and that any company may develop its own, or make its own editions or variations after procurement. All in all, good luck in finding your right fit, just as
we all long to find our soulmates – a fact of fantasy for many. Introduction to Accounting Software 3 References Accounting Software. (2015). In Financial Analysis Software | Financial Analysis | Financial Statements | Current Ratio | Financial Ratio |
1LE website: businesshotli nepublications.co Baryamureeba, V. et al. (2008). Status of Software Usability in Uganda. Kampala: Makerere University. Eamonn, R. (2012). The Evolution of Accounting Software: Past, Present and Future. GAA Accounting: The Journal of the Global
Accounting Alliance. Retrieved from http:// gaaaccounting/ the-evolution-of- accounting-software- past-present-and- future/ #sthash.CLqBeq4q Friedman, J. P. (2000). Dictionary of Business Terms. Retrieved March 10, 2015, from
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Course: ACCA accounting (SBR P3)
University: Sunway University
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