Information system help(Expert can apply)

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Assume you are a CPA with a small local practice in a major metropolitan area. You have three professional employees, all relatively new CPAs (recent graduates from UMUC), and an experienced office manager. In the past, your practice consists primarily of tax and write-up work, but you want to expand the practice. Based upon your desires to expand the practice, you have found a new client, a growing homeowners' association consisting of 150 homeowners, who is in the process of merging with four other homeowner associations within the next 6 months (which will increase the number of homeowners to 650). A part of the merger deal, your client will also oversee & manage the additional 500 homeowners; therefore, you must be prepared to handle this as part of your deal with the new client. See below for services.

In term of scope, for this specific opportunity, you are only required to automate the billing and collections services; however, the client is very interested in having automation in other areas. If you decide to automate additional areas (such as payments & reporting), you must be able to demonstrate the benefits for doing this; however, if you decide not to, you must clearly describe the process for handling these areas from a manual perspective. You will assume that the tax preparation will be done via a PC-based tax program that your firm already has in place. 12+ pages.

Executive Summary – 1-2 page summary

Introduction

-A narrative r4egarding the current business problem and how automation may or may not address the problem.

· 1-2 pages

Proposed System Requirements

· Billing (Example) - Each quarter you have to send each homeowner an itemized bill. Dues are $50 per month ($150 per quarter). Late fees are 1 percent per month of the unpaid balance. The bills are mailed the first day of the last month of the quarter. Payment is due by the end of the quarter.

· Input Requirements

· We will collect data regarding the property to bill the homeowners

· We will need the following data

· Homeowner Name

· Address

· We will need to generate a homeowner listing

· Output Requirements

· We will generate a bill every 90 days

· We will charge late fees

· The bill will contain the following data

· XXX

· We will generate a homeowner statement showing current & past due billings

· Control Requirements

· The billing & collecting functions will be segregated from each

· Collection - You rent a post office box and will receive the checks there. You are responsible for depositing the checks (you have opened a checking account for the association).

· Input Requirements

· Describe how you will DO the process

· Describe / identify what DATA you will need to DO the process

· Describe / identify any FORMS you will need in order to DO the process

· Output Requirements

· Describe / identify any REPORTS you will need to be generated from the process

· Describe / identify any DATA you will need to be generated from the process

· Control Requirements

· Describe how you will secure / control the process ( at least 3 controls)

· Segregation of Duties

· Payments - You write about five checks a month. Besides your own monthly fee, there are monthly checks to a lawn maintenance company and a refuse removal company. There are also checks written for taxes, postage, supplies, and the like.

· Input Requirements

· Describe how you will DO the process

· Describe / identify what DATA you will need to DO the process

· Describe / identify any FORMS you will need in order to DO the process

· Output Requirements

· Describe / identify any REPORTS you will need to be generated from the process

· Describe / identify any DATA you will need to be generated from the process

· Control Requirements

· Describe how you will secure / control the process ( at least 3 controls)

· Segregation of Duties

· Financial Reporting - You are responsible for reporting on all collections, all checks written, outstanding homeowners' balances, and quarterly financial statements.

· Input Requirements

· Describe how you will DO the process

· Describe / identify what DATA you will need to DO the process

· Describe / identify any FORMS you will need in order to DO the process

· Output Requirements

· Describe / identify any REPORTS you will need to be generated from the process

· Describe / identify any DATA you will need to be generated from the process

· Control Requirements

· Describe how you will secure / control the process ( at least 3 controls)

· Segregation of Duties

· Tax - You are responsible for preparing the association's federal and state tax returns.

· Input Requirements

· Describe how you will DO the process

· Describe / identify what DATA you will need to DO the process

· Describe / identify any FORMS you will need in order to DO the process

· Output Requirements

· Describe / identify any REPORTS you will need to be generated from the process

· Describe / identify any DATA you will need to be generated from the process

· Control Requirements

· Describe how you will secure / control the process ( at least 3 controls)

· Segregation of Duties

· Others - Advisory - You are responsible for advising the board on an as-needed basis, especially in the areas of budgeting, purchasing, and investment.

· Input Requirements

· Describe how you will DO the process

· Describe / identify what DATA you will need to DO the process

· Describe / identify any FORMS you will need in order to DO the process

· Output Requirements

· Describe / identify any REPORTS you will need to be generated from the process

· Describe / identify any DATA you will need to be generated from the process

· Control Requirements

· Describe how you will secure / control the process ( at least 3 controls)

· Segregation of Duties

Manual Functions

· Identify and discuss those business/accounting functions which are required and cannot be automated. Explain why. (payment and reporting)

· 1-2 pages

Make vs Buy Decision

· Buy the system to handle automation or make the system

· How much effort required?

· 2 pages

· Propose a specific Buy option

· Assume your firm is capable of developing a system

Challenges to Automation

· Discuss the challenges to developing and maintaining the system

· 2 pages

Appendix

· Two sample forms

· Two sample reports

· Two sample financial statements