Week 4 Writing Project Presentation

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Week 2 Writing Project

Valery Salazar

Keiser University

Data Analysis for Accounting

Dr. Wendy Achiilles

November 5, 2022

Orlando University Bookstore Flowchart

When ordering textbooks, individuals need to be organized, converse with others and act in a certain way. So, it's important to look at the sales process and the data to determine what the bookstore process needs. The process will begin with the class's lesson plan or the teacher of the class. The professor must either require or suggest that the students buy a certain textbook for that class. Either in the syllabus or a message, the department chair who sets the orders needs to know the title, ISBN, edition, publisher, and copyright date of the required textbook. Once the checks are done, copies of the requisition order are sent to the right departments. The order is sent to the designated department, which keeps three copies of the invoice. Each copy is for a faculty member, a department, and the bookstore that asks for it. The bookstore puts together the university's requisition forms to send purchase orders to the publisher, the purchasing department, and the accounting department. The publisher then sends copies of the textbooks to the bookstore along with a receipt and bill, which are sent to the university's accounting division. When the reports have been harmonized and checked, the accounting department wires funds to the producer. The bookstore finally sorts the books by department and class number.

Report

Regarding the sales report, a few areas of concern need to be brought up to Mr Stone about the specifics of all the textbooks available at the Orlando University Bookstore. From the previous month, we can see in several of the Excel file cells that essential information needs to be added, such as the department, ISBN, book title, and publisher. Here we can give fuzzy matching to compare the master file with this database table to detect commonalities. As a result, this update can assist in verifying the proper books for the relevant information that is missing. To calculate the final price that will be charged to the university's students, we must check with the accounting and procurement departments on the cost, the sale price, and the taxes. The ability to extract data from the past and present allows us to use this information to create predictions. Automating sales forecasting can be done by software that uses predictive analytics to predict future risks and opportunities. As a result, we can get in touch with the purchasing departments to confirm how much the book costs, after which we can determine our sale price and add any applicable taxes to produce our final bookstore sales price.

To avoid making these kinds of mistakes, we need first to establish some criteria for the accreditation process and the content presented to the students. Given the numerous inaccuracies derived from its database, the company might look undervalued if there were no internal controls, predetermined procedures, or an effective ordering system. To ensure that their bookshop meets customers' needs well, Mr Stone will need to conduct additional work with his ordering system, accounting department, educational department, faculty members, and supervisors. The used bookstore needs to perform an annual update on the most recent copyright date and updates to the latest titles, ISBNs, authors, editions, and publishers. This indicates that they will need to update their ordering system annually to determine their costs, sale price, taxes accurately, and ultimate sale price to keep their ordering system operating effectively. In general, they can reduce the time spent on risk assessment by using classification analysis, which finds and assigns categories. Because this particular bookshop has its issues, we can determine the required critical components, such as the sales order ID, the date entered by and approved, and the amount of the local sales order.

References

Srikanth, (2021, August 12). How Is Data Analytics Used In Accounting To Influence Finance And Accounting.. Techiexpert.com. https://www.techiexpert.com/how-is-data-analytics-used-in-accounting-to-iunfluence-finance-and-accounting/