Wealth and Happiness - 753 Words

Engelsk eksamensopgave – Opgave A 1. Give an outline on the views on the relation between wealth and happiness presented in texts 1 and 2. In text 1 David tells us of how wealth is nothing compared to your relationships with other people. Through many studies it has been shown that people get more happiness out of socializing with people than making lots of money. Text 1 ends with the conclusion that personal triumphs are important, but not as important as relationships. In text 2 we are told that studies show that people are happier when using money on experiences rather than on material goods like a new couch. Some studies also show that people tend to want what the neighbor has. But if people spend more money on experiences, they†¦show more content†¦But does a long life necessarily mean a happy life? â€Å"If you have a successful marriage, it doesn’t matter how many professional setbacks you endure, you will be reasonably happy. If you have an unsuccessful marriage, it doesn’t matter how many career triumphs you record, you will remain significantly unfulfilled† David strongly disagrees with the research, and makes the statement that a good marriage means a good life. He also insures to tell the reader that there are lots of data to back it up, so we know that it isn’t just he who only thinks it. The reader is then explained sets of studies where people are tested for what gives the most happiness in life. One example of the text is that, a group of people who meets once a month produces the same amount of happiness as a doubling of your income. David Brooks’s conclusion on the text is that, career triumphs actually give lots of happiness, but they emerge out of your relationships with other people so therefore relationships is the most important thing. David gives the text an open end. Is it the school systems fault? Do they prepare children more for a career than for making big social decisions? 3. Based on the opinions voiced in text 2 and 3, discuss whether spending makes people happy. As we are told in text three, there is a difference between poor and wealthy people. The studies have shown that an increase in income makes poorShow MoreRelatedWealth and Happiness1004 Words   |  5 PagesWealth and happiness The human kind has always strived towards power, and wealth is one of the necessities for those who want this power. However, nowadays many seek wealth, because they want the freedom that money can grant, and thus become happier. Some people tend overrate how much happier they will get by becoming rich. That leads to the question: â€Å"Can you buy happiness?† 1. In the first text, David Brooks tries to explain the correlation between wealth and happiness. With Sandra Bullock’sRead MoreRelationship Between Wealth And Happiness1328 Words   |  6 PagesDoes wealth equal happiness? According to the novel Great Expectation by Charles Dickens, the correlation between wealth and happiness is debatable, depending on the person and their lifestyle. For example, Herbet viewed money as a blessing but not something that necessarily brings him happiness; however, for Pip he can never have enough money and it is his idea of happiness. Herbert was born wealthy so in his state of mind it is casual to have exceptional amount of money. When Pip transform to aRead MoreCorrelation Between Wealth And Happiness1483 Words   |  6 Pagesbetween Wealth and Happiness in Developed and Developing Countries: Is the level of Happiness Equal to Wealth? This is a frequently asked question; How to make life fabulous with happiness ? Plenty of philosophers and social anthropologists have been seeking to answer it but they still can not suggest an obvious solution because various factors affect happiness and these are interacting with each other, thus, these points are not analyzed easily. However, even though analyzing happiness is complicatedRead MoreThe Great Gatsby : Wealth And Happiness1291 Words   |  6 Pagesonce said, â€Å"Happiness resides not in possessions, and not in gold, happiness dwells in the soul.† Throughout the ages, wealth and riches have always seemed to catch the eyes of men. Numerous people believe even today that money is the source of happiness. As seen in The Great Gatsby, wealth and happiness are two major themes portrayed over and over again by Fitzgerald’s characters. Many of the characters in the story gain wealth believing that with riches, they can soon gain happiness. Yet time andRead M ore Does Economic Wealth Mean Happiness? Essay1348 Words   |  6 Pagesendeavor is to achieve happiness.† Happiness is an ultimate goal of life and virtually everybody wants to be happy. Happiness is a psychological state of mind that the feelings of pleasure. Happiness is, after all, a state of mind. Happiness can be achieved by following measures including: psychological well-being, education system, living standards, government governance and politics, social position, and ecological environment wellness (Mankiw Taylor, 2011, p. 8). Economic wealth is the net worth ofRead MoreImproving Decisions About Health, Wealth, And Happiness2063 Words   |  9 PagesPublic policy Nudge: Improving decisions about health, wealth, and happiness According to both Thaler and Sunsteins most human beings do not make decisions that are characterized in the elementary economics textbooks. However, the decisions should be along rich suggestions that enable people to come up with better choices for both ourselves and the society. Various people are likely to be surprised after learning that conditions and the setting in which individuals make the decisions normally tendRead MoreThe Media s Influence On The Public s Perceptions Of Wealth And Happiness2105 Words   |  9 Pagesoften provides a simplistic and stereotypical ideal of wealth and well-being. I intend to demonstrate that the political ideologies reinforced by the images created in reality TV can be damaging and misleading to the public perception, often running counter to the statistical reality. Through a review of specific programs and research, I will establish that these shows are subconsciously influencing the public’s perceptions of wealth and happiness. In North America almost every household (99%) ownsRead MoreHealth and Happiness Gives Us All the Wealth We Need678 Words   |  3 Pages â€Å"If you have health, you probably will be happy, and if you have health and happiness, you have all the wealth you need, even if it is not all you want.† – Elbert Hubbard. What would it feel like to have obesity related illnesses claim over 2.8 million lives a year? It is important to maintain a healthy lifestyle because you have less of a chance to get sick, when you’re healthy you feel mentally and emotionally happier, and you are more of a good and kind-hearted person. It is extremely importantRead MoreAnalysis Of Nudge : Improving Decisions About Health, Wealth, And Happiness, By Thaler And Sunstein1310 Words   |  6 Pagesslight push in a positive direction. These slight pushes can be noted as nudges and can incorporate a negative or positive impact in an individual’s life, depending on how they are utilized. In the book, Nudge: Improving Decisions About Health, Wealth, and Happiness, by Thaler and Sunstein, nudges are explored in ways of how they can essentially help humans make better decisions that benefit them throughout their life (2009). However, even though nudges can push people in a positive direction, they alsoRead MoreBlack and White Peoples Contrasting Ideas About Wealth and Happiness Depicted in the Poem Nikki-Rosa713 Words   |  3 Pagesblack people have fundamentally different ideas about wealth and happiness. Along with her words, she uses structure, tone and imagery to convey her belief that white people and black people see their personal life-experiences differently. Wealth for black people is love, family, and togetherness, not tangible items. A sense of community and acceptance of one another are more valuable than having even a private toilet. White people see â€Å"black wealth† as a hard life and focus on the tangible things that

The American Revolution Free Essays

The American Revolution was a period in American history that caused controversy even amongst the most dedicated Colonists. The question of whether or not America should free itself from British rule and become it’s own nation, independent of the Crown, was a major issue that came to the forefront in the late 1700’s and it was during this time that the colonies were split into two very diverse groups: the Colonists who wished to create an independent American nation, and the Loyalists who wished to remain a part of Great Britain. We will write a custom essay sample on The American Revolution or any similar topic only for you Order Now The reasons for each were widely varied depending on the individual, but Edmund Burke is best known as one of the strongest supporters of reconciliation with Great Britain and the avoidance of war through political means and a meeting of the minds between Great Britain and its colonies in the New World that would one day become the United States of America. Edmund Burke was a leading member of the British Parliament who remained on the side of the colonists in that he believed the British should try to work with the American colonists to create a better relationship, and these beliefs are seen within his writings from the period of time in American history that is known as the Revolutionary period. The works written by Burke in the 1770’s share a glimpse into the world and thoughts of the man, and give historians the ability to get a strong sense of this differing opinion on the Revolutionary War that existed at the time, as it is often the fight for independence that is mostly studied as our country did become an independent nation free of British rule, but men like Burke and his ideals were also prominent and that is why his writings are so important to the understanding of Revolutionary history. The viewpoint of Edmund Burke is best summed up as the hope for peace between Great Britain and its American colonies. He does not seem to believe that revolution is necessarily a sure thing for the American people and, in fact, urges against it. In his Speech to Parliament on March 22, 1775 Burke said, â€Å"My proposition is Peace† (Johnson 111). Burke did not feel that a war was the answer to the problems plaguing the American Colonies and their continuing struggle over taxation with Great Britain. He reminds the British that â€Å"America†¦ is an object well worth fighting for† but that war is not â€Å"the best way of gaining them† (Johnson 112). Within his speech on reconciliation, Burke mimics this opinion by claiming that the goal for the American colonies must be peace, and he explains this by saying, â€Å"It is peace sought in the spirit of peace, and laid in principles purely pacific (Burke)†. This clearly means that war was becoming a major issue on the minds of everyone in the American colonies and it was beginning to become a focal point of many important men, both loyalists and patriots. Burke’s solution is the exact opposite that which men such as George Washington and Thomas Jefferson were hoping for and worked towards, of course, because it meant that they would always be connected to Great Britain; however, Burke’s solution was meant to please both parties if put into practice. It appears, from his opinions stated in his speech on conciliation, that he saw value in not pursuing the types of taxation that the British government was seeking to impose on the Americans, because in doing so it was losing the support and loyalty of the American people. This clear fact meant that if Great Britain were to find a way to please the American people, they would not only benefit by keeping the revenues produced by the colonies, but also their loyalty and support that would only grow over time as the population across the ocean grew in size. Burke states in his defense of developing a relationship with their counterparts in American that would foster loyalty and love of the Crown, â€Å"It is the love of the people; it is their attachment to their government, from the sense of the deep stake they have in such a glorious institution, which gives you your army and your navy, and infuses into both that liberal obedience without which your army would be a base rabble, and your navy nothing but rotten timber(Burke). † In essence, without the fostering of good relations between Britain and her colonies, they would lose a chance at a peaceful and powerful ally in the New World that was growing each year. It seems that when Edmund Burke viewed the American colonists, he was not surprised at all by their conduct, because he recognized that â€Å"in this Character of the American, a love of Freedom is the predominating feature which marks and distinguishes the whole†, and goes on to say that, â€Å"This fierce spirit of Liberty is stronger in the English Colonies probably than in any other people of the earth and this from a great variety of powerful causes†¦Ã¢â‚¬  (Johnson 112). He also says, in his conciliation speech, that â€Å"the more ardently they love liberty, the more perfect will be their obedience. † He believes the two go together–liberty given to them would result in obedience to the Crown and the Empire. He is adamant that the Colonists are this way because they left England when the English were dedicated to freedom: â€Å"The Colonists emigrated from you when this part of your character was most predominant; and they took this bias and directions the moment they parted from your hands† (Johnson 112). He views the problem as being taxation, and seems to think that peace would be easy to obtain and war easily averted if not for the imposition of taxation on the American colonies. He believes that American revenue should not be ignored as important to the British Empire because it was financially beneficial to keep the American colonies underneath the umbrella of British rule for many various reason. Burke states, â€Å"Let us get an American revenue as we have got an American empire. English privileges have made it all that it is; English privileges alone will make it all it can be (Burke). † By this he means that Americans want to be treated with the same respect and given the same privileges as their British counterparts, and therefore, if they treat them that way, war could be averted. It is obvious from the letter and speech written by Burke and quoted within this paper that the man was staunchly dedicated to the British Empire and the idea of conciliation, and it makes sense from his way of thinking because it would benefit both countries to give the colonies the benefits of being British while still retaining the good relations between the two. Yet, it was not to be and without men like the Founding Fathers who would urge for independence, America and Great Britain would certainly have just continued to have disagreements because the way of life developing across the ocean was vastly different from what existed in England, and that would eventually have led to war, not over taxes, but over the desire to be masters of their own destiny. Works Cited Burke, Edmund. Burke’s Speech on Conciliation with America. Project Guttenberg. Johnson, Michael P. Reading the American Past. Vol. 1. Bedford/St. Martin\’s, 2004. 108-114. How to cite The American Revolution, Papers The American Revolution Free Essays The American Revolution Women’s lives began to change significantly with the American Revolution. Every war means more women taking charge during the absence and after the deaths of husbands and fathers, their active role in the war was very important. After the war, talk of rights raised issues of women’s rights education. We will write a custom essay sample on The American Revolution or any similar topic only for you Order Now Religions also play an important role for women in the American Revolution. Women’s roles were limited in the colonial times. Marriage and motherhood were the primary goals for women. They lost property and legal rights upon marriage; therefore, women were not expected to participate in the war. Despite their low positions in society, women did participate. One example was Pennsylvania Mary Hays McCauley carried water to troops in battle. When her husband fell at the battle, New Jersey, in 1778, she took his place. For this action, she receives a pension from the state of Pennsylvania for all the services rendered in the revolution war. On the home front, they sewed uniforms and knitted stockings for the soldiers. With their husbands away fighting, some women had to take over as weavers, carpenters, blacksmiths, or shipbuilders. Women had to adjust to be alone and to handling the day to day affairs of running a farm or managing a business in a husband’s absence. Their independence management proved to be one of their most significant roles in the revolution era. Dubois, E, C, Dumenil, L (2005). â€Å"Through women’s eyes†, page 80- 84. The revolution affected the lives of Native American women. They gained some independence from their confining roles because of their efforts in the war and in maintaining their communities in the men’s prolonged absences. The necessity to improve education accelerated after the war, for practical and ideological reason. The American believed that a new republic needed an educated people. As the new nation began the long process of industrialization, this complex economy required to have better skills. Some critics disagree with the education for women since they believed that fully educated women would make them less feminine, but others agree that women needed for education was very important because of the vital roles in educating their children. The new thinking about the importance to educate women was very important; many different schools were design for middle class. They agree that education for women could help them to instruct their son in the principles of patriotism, could make a better home, better wife for a happy marriage. Some women became writers, missionaries and even teachers. Dubois, E, C, Dumenil, L (2005), page 95-96. For African American women, the revolution left a differently legacy. At the end of the war, many slaves were sold into slavery again. For some African American who had not joined the British, the most important legacy was the freedom. The ideological issue at the center of the revolution encourages some whites American to examine the institution of slavery. African American were active participants in the emancipation process. In 1781 Elizabeth Freeman petitioned a Massachusetts county court for her freedom. She suit, combined with several others. In others places like Vermont provide immediate emancipation. Still discrimination limited their opportunities. Most women work at jobs similar to those they had when they were salves. As they worked at their job and cared for the family, many free black women participated in building their church. These institutions were a source of strength and pride for the community. Dubois, E, C, Dumenil, L (2005), page 88-90. In addition to education, religion plays an important role in white women in the eighteen century. The Great Awakening established churches with different denomination like Methodist, Baptist and others. Women voices were heard in their churches, they also made their presence known by their physical manifestations of the spirit. Little by little women were able to speak openly in the churches. In the South the separate Baptist permitted women official roles appointing them as deaconesses and eldresses, their role in churches were very important. Throughout her life, she continued to exert considerable influence within her congregation. For African American religion also touched the lives of many women. Yet during and after the revolution, the Great Awakening had an impact on slave’s women lives. A few evangelical churches condemned the institution of slavery. In the eighteen-century evangelical churches, black women were not permitted to be preachers; they were able to create a sphere of influences and power for them. This role was very important in the nineteenth century when the majority of slaves had adopted Christianity. Dubois, E, C, Dumenil, L (2005), page 99-101 In conclusion, women contributed a great deal to the American Revolution. Their actions on the home front and on the battlefields relieved the men from the extra planning, mobilizing, and combating that they would have had to execute without the help of the women. This allowed the Continental Army to fully concentrate on defeating the British and acquiring sovereignty. America could not have been the powerful independent nation it is today without the service of the women. The truth is, women were fiercely active in the independence cause and made gains for themselves. Nguyen, T, A. â€Å"Women in revolution†. Women in the eighteen century have played an important role of ideology, work and sacrifice. Their roles help to expand more opportunities for a better future. Reference: Dubois, E, C (2005). Through women’s eyes. Boston, NY: Bedford/ST. Martin. Nguyen, T, A. Women in revolution, from http://www. americanrevolution. org/nguyen. html How to cite The American Revolution, Papers

Timeliness of Corporate Financial †Free Samples to Students

Question: Discuss about the Timeliness of Corporate Financial. Answer: Introduction Accounting Information System plays a crucial role in tracking the financial activities and information of the companies in an effective and systematic way (Romney and Steinbart 2012). It can be seen that extreme competition is one of the prime characteristics of the modern business environment. In order to cope up with this competitive business environment, it is essential for the business organizations for the adoption of various advanced technologies in order to get the necessary competitive advantage (Soudani 2012). The main motive of this report is to analyze and evaluate the importance and needs for an efficient accounting information system for B Bakery. From the provided case study, it can be seen that the B Bakery has not adopted the automated accounting information system as the firm is still using manual for of accounting systems. In various part of this report, the importance and usefulness of various accounting information are discussed in respect to B Bakery. In additio n, various suggestions are also provided to the company for the adoption of effective accounting information system. From the provided information, it can be seen that the main business process of B Bakery is to produce and supply breads and various confectionary products to different businesses, supermarket and pub-chains. Thus, it can be seen that B Bakery is mainly a bakery firm. The owner of a bakery company is known as baker. In more specific words, baker refers to the person who produces various types of breads and cakes with the help of heated sources and supplies them to various businesses. On the other hand, bakers refers to the particular place where a baker produces and sells his/her produces breads and cakes. There is not any exception of this fact in case of B Bakery as the firm has to carry different business processes and activities. The follow section provides the description of various business activities of B Bakery: Bakery Products Production: From the provided information, it can be seen that the main business operation of this company is dealing with the production of various types of bakery products. There is a Unique Selling Proposition (USP) can be seen for the company. As per the provided case study, it is prominent that the firm put large emphasis on the health related factors in their bakery products. For this reason, B Bakery produces healthy bakery products for their customers. This can be considered as the USP of the company. To Conduct the Business in Manual Basis: As per the case study, it can be seen that B Bakery has been carrying out their business activities on the manual basis. From this, it can be understood that B Bakery uses to record all the financial and non-financial transaction of the company on the manual basis rather than using an advances technical accounting system. This can be done with the help of various technologically advanced accounting software. The continuation of manual accounting system can be identified as one of the major drawbacks of B Bakery as the company has failed to adopt any ERP system. Distribution of Product: According to the provided information, it can be seen that distribution of produced bakery products is another major business operation of B Bakery. From this, it can be understood that there is a separate business unit of B Bakery in the organization for managing the process of product distribution. In this regard, it can be observed that B Bakery has made collaboration with different types of distribution channels in order to sell their products. Some of the major adopted distribution channel is supermarket chains, pub-chains and others. Ineffective Management of Human Resource: From the provided case study, it can be seen that the employee base of B Bakery is 70. B Bakery uses to manage the salary process of their employees in manual basis. From this, it can be observed that there is a lack of effective computerized system for the processing of salaries for the employee in B Bakery. This manual process affects the accounts department of the company along with the employees. Thus, from the above discussion, it can be understood that lack of effective accounting information system is affection various aspects of the business activities of B Bakery. Development of Business Requirements The provided case study depicts the success of B Bakery in making good amount of turnover. However, one cannot ignore the fact that the business operation of B Bakery is going to be affected in the near future due to the adoption of accounting processes on the manual basis (Laudon and Laudon 2016). The following discussion suggests some business activities for making the business operations of B Bakery smooth. Pay-roll System with Automated Accounting Software: In present, it can be seen that B Bakery has adopted manual system for the processing and payment of salaries for their employees. As B Bakery is considered as one of the major growing firms, it is of utmost important for them to implement an effective structure for employee pay roll that will be automated. This will help the company in crediting the salaries of their employees (Hall 2012). Analysis of Cost Difference of Outflow and Inflow Activities: As per the earlier discussion, B Bakery is a growing organization and thus, it is crucial for them to make classification of different kinds of cost in the manufacturing and production process of the company. Apart from this, it is essential for the business organization to reduce the level of costs in different segments so that secure future of the business can be sustained. Al these can only be possible with the help technologically advanced accounting software (KneÃ… ¾evi?, Stankovi? and Tepavac 2012). Determination of Cost of Production: It is essential for B Bakery to implement such business process that will assists the company in the determination of cost of production or cost of goods sold. With the help of the proposed process, the firm will be able to determine the costs of raw materials along with the cost of finished goods. This is not possible in B Bakery in the presence of manual accounting system (Dandago and Rufai 2014). Preparation of Financial Statement and Annual Reports: It is required for every company to publish their financial statements along with annual reports in regular basis. It is one of the major indispensible parts of B Bakery in order to analyze the business processes of the company. Thus, it is required for B Bakery to implement a particular business process I order to gain competitive advantage (Simkin, Norman and Rose 2014). Determination of Adequate Payment of Taxes: At the time of adopting the suitable accounting methods, B Bakery needs to determine the market value of that system. In addition, it is required for B Bakery to pay its various liabilities like tax and others (Jawabreh and Alrabei 2012). In case, B Bakery becomes able to adopt the above business process suggestions, the company will be able to attain certain benefits and outcomes. They are as follows: Control over Variables and Different Operating Costs: In case B Bakery becomes able to adopt the suggested business operations, the company will be effectively able to control the operating costs. After that, B Bakery will become able to determine the lowest and highest unit of production that will provide the company control over its variable costs. With the help of this, B Bakery will be able to adopt cost effective manufacturing system. In addition, this process will assist the company in the minimization of unit of production that causes the company higher operating cost (Demski 2013). Effectiveness in the Preparation of Financial Statements: With the assistance of automated accounting system, B Bakery will be able to prepare error-free and effective financial statements. This process will make the company able to compare the financial results for more than one year so that effective business planning can be done (Daoud and Triki 2013). Sales Increase: This suggested process will make the company know about the cost of production and its cost per unit. With the help of this, B Bakery will be able to develop their short-run and long run price strategy. This adopted pricing strategy will increase the sales revenue of B Bakery so that profit of the company can be increased (Tazik and Mohamed 2014). Determination of Demand: It is required for the companied to evaluate the demand and supply of their products. Implementation of automated business process will assist B Bakery to determine the demand and supply of bakery products. For this, efficiency can be brought in the production process along with the minimization of unused inventories. From the above discussion, it can be said that B Bakery will be able to attain these above-discussed outcomes with the help of automated accounting system (Caglio and Ditillo 2012). Determination of System Requirements Different kinds of requirement for accounting systems can be seen in the bakery firms. Two major requirements are effective analysis and evaluation of various financial statements and documentation process of various business records related to debtors, creditors, vendors and others. Easy Online Accounting: In the recent era, most of the business organizations are implementing the process of online accounting transactions. Thus, it is essential for B Bakery to implement such a system by which the company can get payments from the debtors and can pay the creditors. In addition, it is required for the management of B Bakery to know every important aspects of the company in order to take prompt business decisions. In addition, there is a need to bring efficiency in the inventory management of the company. All these aspects will ensure the firms growth. Most importantly, it is needed for B Bakery to secure the internal control system of business in order to avoid the leakage of important and confidential business information (Awerbuch and Preston 2012). Analysis of Financial Statements: Different types of automated accounting systems are required for B Bakery for the recording and reporting of financial transactions. In this regard, the suggested accounting software for B Bakery are DacEasy, MYOB and others. As B Bakery does not have any automated accounting software in present, the use of these systems will ensure the future success of the company. In addition, in order to keep the track of all financial transactions on the daily basis, these accounting systems play a crucial role. Most importantly, business organizations need to implement such accounting system that is secure from external threats. It needs to be done as the internal system of the companies can only access these accounting systems (Melnyk et al. 2014). Documentation of Different Records: It is prominent that all the large scale as well as small scale business organizations need to be involved in different types of financial as well as non-financial transactions. Accounting transactions are the part of these transactions and all these transactions have equal importance for the business activities. For this reason, it is essential for B Bakery to implement efficient accounting software in order to record the financial and accounting transactions on the daily basis. In addition, there is a need for accounting transactions over the years in order to measure the financial performance of the company. Most importantly, B Bakery needs to make a comparison of the accounting and financial transactions with its competitors. For all these reason, it is required for B Bakery to record all the transactions related to debtors, creditors, distributors, vendors and others. Thus, it is required to install automated accounting system in order to keep all these records (Stair and Reynolds 2013). Different Types of Cost Analysis: It is needed for B Bakery to implement effective automated accounting software so that different kinds of costs can be analyzed on a daily basis. For this purpose, the preparation of effective cost-sheet reports is required for the company. B Bakery can present all these reports to their vendors as they include all the information. Apart from this, these cost-sheets also include all the details and transactions related to the salary of the employees with the help of electronic transactions (Ram, Corkindale and Wu 2013). As per the above discussion, these requirements B Bakery needs to be mentioned at the time of the implementation of selection of accounting software. Thus, B Bakery needs to implement all these requirements in order to achieve the short term as well as long-term goals of the company. Selection of Software As per the business requirements of B Bakery, the following accounting software will be suitable for their business operations. B Bakery can select any of them based on their business requirements. DacEasy MYOB SAP Low End Accounting Software: Low end accounting software is suitable for the types of companies that have simple as well as less numbers of business transactions. The use of this kind of software can be seen among different professionals like doctors, lawyers and others. Very few companies use this software as cannot recode large number of complex transactions (Zairi 2012). Medium End Accounting Software: Companies use this software for meeting the basis financial as well as accounting transactions requirements. This accounting software covers all the primary financial and accounting transactions of the companies. In addition, small and medium size business organizations use this software for the preparation of various financial reports and it supports the double entry accounting system. Thus, many small and medium size companies use this software. High End Accounting Software: Companies use high end accounting software for the recording of large number of complex accounting transactions. For this reason, the big and multinational companies use this type of accounting software. This kind of accounting software can record large accounting transactions they are made with advanced technology. All these unique features of this accounting software make it more expensive in implementation for the companies and thus, small and medium size companies cannot afford the implementation of this software (Zairi 2012). Based on the above discussion, it can be said that medium end and high accounting software will be suitable for the business operations of B Bakery. From the provide case study, it can be seen that B Bakery has the financial capacity for the implementation of both medium end and high end accounting software. Selection of Vendor B Bakery has the option to adopt various accounting software and they are DacEasy, Xero, MYOB and others. Thus, it is essential for the firm to make a comparison between this software before the implementation decision. The comparison can be conducted based on some specific aspects like capacity of transactions recording and documentation, payroll structure, exposes, risk, sustainability, time scheduling and others. Thus, the bases of comparison are as follows: Credibility of Recording and Documentation: One of the major features of MYOB is its capability to record adequate numbers of data in the accounting system. In addition, MYOB is able to generate quick result or output when the users put in it (myob.com 2017). This process is done with the help of a specific button that can be seen in every page of the system. On the other hand, a use of index can be seen in case of DacEasy in order to find necessary information (sage.com 2017). Thus, with the use of different processes both MYOB and DacEasy can record large amount of information. Operating Expenses: The classification of the operating and implementation cost of these two software can be done from medium to high. Single version of this software comes with less cost where multiple version of this software is more expensive. Thus, the firms need to take decagons on the secretion of accounting software for their business activities. Payment of Employees of the Company: In case of the payment structure for the employee, differences can be seen among MYOB, Xero and DacEasy. At the time to deposit the salary directly to the employees, it is useful to use DacEasy (sage.com 2017). In addition, this software plays an important role for detecting the tax liabilities. In case of automatic bank reconciliation, Xero plays an important role. The usefulness of MYOB can be seen in the creation of different alternatives for the salaries and taxes of the employees (myob.com 2017). Risk and Uncertainty: One common and crucial characteristic of all these three accounting systems is that all of them are error free and they can depend on the capability of the companies. Before the handling of these systems, it is required for B Bakery to specialize themselves. Time and Complexities Scheduling: XERO provides assistance in easy online transactions, but the initial process is full of complexities (xero.com 2017). On the other hand, DacEasy provides assistance in case of the simple operations. However, drawbacks can be seen for DacEasy related to presentation of toolbars (sage.com 2017). However, at the billing time, this software produces speedy reports. MYOB is easy accessible as people having basic computer and accounting knowledge can operate this software. At the time of creating the bills of credit terms, MYOB plays an important part. Firms having many credit transactions can enjoy benefits (myob.com 2017). Flexibility: As XERO operates on the third party payroll, it can be considered as flexible (xero.com 2017). In addition, it helps the companies by providing free trail trainings. In case of DacEasy, the capacity of this software is the production of fifty reports and thus, it cannot be considered as flexible. At the same time, MYOB is considered as highly flexible as it is able to generate more than 175 reports (myob.com 2017). These reports provide assistance in tracking data related to the debtors, creditors, vendors and others transactions. Sundry Creditors and Debtors: In case of the billing process of creditors and debtors, MYOB helps the organizations by supporting e-payments and e-receipts (myob.com 2017). The main operation of DacEasy is to print cheques and to calculate the purchase quotes (sage.com 2017). In case of XERO, it helps the purchase order creation and claiming them for the creditors. It is required for B Bakery to choose the suitable accounting package that will help the company to active its target. It is not possible for B Bakery to spend a lot of money for the implementation of appropriate accounting package, as B Bakery is a family-owned business. In addition, for the ease of implementation, the selected accounting software needs to be simple. Thus, based on the above discussion, it can be said that the both XERO and MYOB suits the business requirements of B Bakery. In addition, it needs to be mentioned that MYOB is more suitable for the business operations of B Bakery as it has the capacity to generate wide range of reports for their various business operations. In addition, MYOB provides great assistance to the company in the dealing of credit transactions. Since distribution can be seen in the business operations of B Bakery, the credit function of MYOB suits the business operations of B Bakery (myob.com 2017). Not all these unique features are present in other accounting software like DacEasy, XERO and others. In the programming of MYOB, a two-way transfer facility can be seen and this particular facility is also missing in the other accounting software. The programming of ZERO supports the automatic calculation of bank reconciliation statements (xero.com 2017). It needs to be mentioned that MYOB helps the business organizations in the calculation of inventories under both LIFO and FIFO methods (myob.com 2017). This feature is not present in XERO. Transactions related to accounts receivable can be managed with the help of XERO (xero.com 2017). However, MYOB has the ability for the management of both accounts receivables and payables. With the help of the large reports generated by MYOB, B Bakery can take their business operations in the next level. It is also expected that the security system regarding the accounting information can become improved with the help of this software as systema tic information can be generated from this system. From the above discussion, it can be seen that MYOB has more flexibility in compared to the other software and it has more unique features that supports the business operations of B Bakery. Thus, based on the above discussion, it can be said that the implementation of MYOB will be suitable for the business operations of B Bakery and it will help to increase the efficiency of the business operations of B Bakery. Conclusion Based on the above discussion, it is clear that the every business organization wants to take their business on the next level. In case of B Bakery, the organization will be effective and successful in case the company implements the accounting software MYOB in the successful manner. With the help of MYOB, B Bakery will be able to overcome its security related issues. In addition, B Bakery will be able to access the invoices of their customers. With the assistance of MYOB, B Bakery will become able to analyze and evaluate financial reports over the years and the company will be able to implement effective pricing strategies. All these above-discussed factors will help in the increase of profitability and revenues of B Bakery so that they can take their business in the next level. References Awerbuch, S. and Preston, A. eds., 2012.The virtual utility: Accounting, technology competitive aspects of the emerging industry(Vol. 26). Springer Science Business Media. Caglio, A. and Ditillo, A., 2012. 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