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Essay / Research Paper Abstract
Ecommerce saves time and money, particularly in relationship to accounting functions. By allowing the bank to handle cash, the vendors to handle accounts payable, the stock vendor to handle the stock investment portfolio, etc., the company can be stripped down to its barest essentials . . . in support of a fully functional financial institution, no matter its trade. Reviewed in this regard are internets and intranets, advantages and disadvantages of ecommerce, batch and real-time processing, EDI, and ERP systems. Bibliography lists 3 sources. jvActUse.rtf
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far-reaching as to include everything from the in-house books to information outside the immediate control of the company such as the 401(k) retirement program and the companys stock investment portfolio.
Rather than reentering information from these outside vendors into in-house systems, as was done in the past, accounting information can be downloaded via electronic commerce (ecommerce) from financial institutions around
the world. Therefore, there is no investment in data processing resources for entering diverse accounting data, nor is there backload of un-entered data since ecommerce can be real-time. In consideration
of time and money saved, there is no downside that makes ecommerce inadvisable. Use of Internets and Intranets
Jeff Sweat writes: Enterprise application integration is the process of tying together multiple applications to support the flow of information
across multiple business units and IT systems. A sales order that comes in over the Internet, for instance, may have to interact with a Web commerce application, an accounting system,
and an inventory-management and shipping application-systems that dont automatically communicate with each other. (Sweat 63). As the above indicates, the accounting system, inventory-management,
and shipping systems are all in-house systems working on a companys intranet, while the vendor information sent in the form of a sales order is relayed over the internet. Therefore,
the intranet and internet work in tandem to get this one order into a minimum of three business units: sales, shipping and accounting.
Advantages and Disadvantages to Accounting The integration of internal and external ecommerce has the affect of keeping the books, which allows
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