Manufacturing Accounting Essay

1479 words - 6 pages

Riordian Manufacturing Accounting

Riordan Manufacturing, Inc., the global leader in the field of plastic injection molding. The company produces plastic bottles, fans of all sizes, heart valves, medical stents and custom plastic parts. Riordan Manufacturing is fully owned by Riordan Industries and has 550 employees and generates an excess of $1 billion in revenue with a projected $46 million of annual earnings. Riordan has facilities in San Jose, California, Albany, Georgia, Pontiac, Michigan, and Hangzhou, China. Riordan has demonstrated they can be very successful and contend with their competitors as a Fortune 1000 company.
There are a few major economic influences affecting Riordan’s ...view middle of the document...

The accounting system consists of the following modules: payroll, orders, inventory, cost and fixed assets accounting, accounts payable and accounts receivable as well. These are the main modules used to evaluate and determine a recommended solution for modifying the accounting system. The main focus of Riordan should be to ensure the process goes as smooth as possible with little interruption of internal operations and affect on customers. The company should also have an overall goal of building a standardized accounting system to generate data that is properly formatted and produced in a timely manner.
There are a lot of software solutions available that will provide support to Riordan’s accounting system. These software packages are: SAP Business One, Epicore Enterprise Financials, Syspro, Microsoft Dynamics SL, Exact Software, Microsoft Dynamics GP, Net Suite, Everest Advanced Edition and Quickbooks Enterprise Solutions. The key factors for Riordan to consider when choosing a software are cost, ease of implementation and standardization. The solution must also be within the operational budget, while sustaining a little additional cost while it is implemented. Lastly not only should the solution package be able to standardize the accounting system it should also provide options for future expansion as Riordan expands globally.

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Accounting systems are responsible for keeping tabs on everything in a business.  Because of the far-reaching scope of accounting, and because of e-discovery requirements, accounting must be connected in some fashion with all other parts of a company and its systems.  The following sections will describe various points to consider and then describe what systems need to connect with accounting for Riordian Manufacturing.
The Roles of Accounting
Accounting is responsible for accounting for all cash and assets in a company.  Some of the items accounting must track are expenses in office supplies, payroll, research and development, inventory, government fees and taxes, and much more.  Accounting is responsible for “billings, payments, payroll, maintenance of the general ledger, tracking assets, and issuing financial statements” (Bragg, 2002, p. 18).  Because of the broad reach of accounting, a company’s responsibility to its investors, and government e-discovery regulations such as the Sorbanes-Oxley Act (SOX) (Securities...

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