Outlining the benefits of using an online accounting software tool such as MYOB and QuickBooks. The report should:
1) Outline the various economic transactions and events which would take place in a small manufacturing organization.
2) Outline the benefits of using an online accounting software tool over an organization relying on maintaining a manual set of books.
3) Provide an example of one transaction cycle (e.g. sales cycle) in a small manufacturing organization and how an online accounting software tool such as MYOB would be useful.
4) The risks and associated costs an organization may be exposed (show) to due to maintaining a manual set of books.
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