question answering due in 24 hours

INFS2001 IS FOR PERFORMANCE IMPROVEMENT INDIVIDIUAL WEEKLY REPORT

Week 11 Submission Submissions for Weeks 7, 10, 11 & 13 will be worth 10% of your final grade (one will be randomly selected for grading).

DUE: Please UPLOAD Your Individual Report to Turn-It-In PRIOR To 9am, Monday 16th October, 2017.

Please ensure that your Name and Student number appear in the first line of your submission.

You can only submit your file once so please make sure it’s your final answer to the question.

PLEASE NOTE: Late assignments will not be accepted.

ASSIGNMENT DIRECTIONS

Please ensure that you have downloaded and read the PhonETIc Phone Accessories Case Study from the BlackBoard website prior to answering the question.

Please read the PhonETIc Case Study carefully.

Please read the following question carefully and provide your answer in no more than 1 page (approximately 400 - 500 words). Extra pages will not be marked.

QUESTION

Linda (PhonETIc’s accountant) is responsible for preparing corporate financial analysis and monthly statements, and for reviewing and presenting the financial impacts of proposed business strategies to Emily and Tony. Data obtained for this financial analysis is currently obtained from the “flat-file” systems in operation at the kiosks and head office as well as directly from the kiosk managers and the relevant PhonETIc head office staff.

Reports and charts are then prepared by hand and typed up (by Linda). Multiple copies are prepared and distributed to Emily, Tony and the kiosk managers. Emily and Tony are also thinking of sharing this information with their suppliers and wholesale customers (wherever relevant). As pressure mounts for more up-to-date and comprehensive information, this reporting process is becoming increasingly problematic i.e. the time lag producing information means that it’s out of date before it can be used to make decisions. This would also prove embarrassing if this information was shared with suppliers and wholesale customers (in its current state).

While Emily and Tony anticipate that this reporting problem may be rectified with the implementation of an appropriate ERP system, Emily is especially concerned about the accuracy, completeness and currency of data reports that would be automatically produced by an ERP system. She has heard about a reporting system called XBRL and wonders whether reporting based on this type of technology would be more effective and reliable.

Questions

1) Research the current state of XBRL and determine if this technology is appropriate for internal reporting such as that which Linda is currently producing;

2) Identify the enhancements to either their current (i.e. “flat file” systems) or future (proposed ERP solution) information and reporting that the company could realise by using XBRL; and

3) Discuss any integrity, internal control and reporting concerns associated with the use of XBRL for PhonETIc.

Individual Weekly Report Grading Criteria

PLEASE NOTE: Submissions for Weeks 7, 10, 11 & 13 will be worth 10% of your final grade (one will be randomly selected for grading).

The grading scheme is outlined below.

Format and Presentation (3% of Available Marks)

1. Presentation, communication & style (written – remember this is a report to management and so must be presented in that way);

2. Clarity of expression (incl. accuracy, spelling, grammar, punctuation)

Answering the Question in Critical Way by Synthesizing and Applying Knowledge of the Topic (7% of Available Marks)

1. Attention to purpose (answering the question that has been asked)

2. Use of literature/ knowledge of theory (from the text, UoS notes and your readings)

3. Analysis (of the case and the literature/ knowledge of theory)

4. Critical reasoning / critical thinking (how you apply your knowledge)

5. Synthesis (how you tie it all together)

6. Originality (interpretation of the case in your own words)

7. Reflection/evaluation (what are the limitations)