Asset Manager and Cloud Computing - Jimeny Cericket Pty Ltd - Case Study Example

Running Header: Computer Accounting Business Report Regarding Asset Manager and Cloud Computing Student’s Name: Instructor’s Name: Course Code & Name: Date of Submission: Computer Accounting Business Report Regarding Asset Manager and Cloud Computing ASSET MANAGER Executive Summary Asset manager is computer software that enables companies that deals with vast information to keep track of its facilities easily and conveniently (Rudd 2009). Asset Manager enables one to have quick access of particulars of certain assets, keep track of huge volumes of assets and analyze the status of the assets simply and efficiently at any time. There is however high cost involved in installing and maintaining the system. Internal operations of Jimeny Cericket Pty Ltd could be significantly simplified if they employed Asset manager software. Introduction Asset Manager is a computer program that helps to keep track of assets, their numbers, and history and calculates the tax depreciation (Rudd 2009). The software is able to manage and keep track of all the assets in a company. Through use of this software, it is easy and quickly to find all the information of either individual asset or groups of asset. In a Jimeny Crictet Pty Ltd, where varying forms of records about the facilities and staff are stored, Asset Manager is definitely a good tool to help in organization of these records. Features of Asset Manager The main feature of Asset Manager is its ability to track assets in the business, regardless of the business size. Through it, it is possible to track the asset by the location of the asset and the components of the asset. Among the features that can be tracked and managed by the software include serial number and barcodes, purchase information, service log, asset history, asset status and condition, custodian and date due among others (Jacobsen, Schlenker, & Edwards 2005). Furthermore, where the asset has unique features, the software accommodates features that use notes and attachments to describe such asset. It also has advanced features that allow the manager to assign an asset to a given person and the manager would know who is responsible for that asset. The software has features that make it easy to perform complex transactions such as asset pooling, revaluations and write-off. Advantages of Asset Manager Asset Manager has numerous advantages to company that is using it. It eliminates the time wasted in searching for particulars of a given item (Zhao 2011). Workers using the software in an organization that uses asset manager have higher productivity in their work since they can work faster. There is less time which is used to process data; it has data organization tools that make it simple to analyze information any time. By the fact that the system is computerized, there is high level of accuracy of the processed data. Unlike human beings, computers have very high level of accuracy since there is no possibility of mathematical or calculation error. Disadvantages of Asset Manager The cost required to update the traditional asset management departments so that they can use an Asset Manager would be very costly especially for large companies. It would require reorganization of the entire human resource, purchasing of the software, buying of computers, regularly purchasing of the software updates (Richter 2010). Additionally, there would be need for retraining the personnel so that they can be able to work under the new environment. Even though the software is easy to use in recording transactions that relates to tax issues and depreciation, a lot of time is used in recording the transactions. Though Asset Manager has advanced features that are computerized and complex, they cannot in any way replace the role played by human beings. Some of the asset tracking records requires improvisational thoughts and judgmental decisions which Asset Manager cannot do. Recommendation In Jimeny Cricket Pty Ltd, there are many records of assets in the company. This no doubt places a challenge to two directors of the company. The various assets in the company depreciate at different rates and are used differently. The company owns display cabinet, trolleys, display shelving, furniture, warehouse equipment, motor vehicles, computers and others. All this assets are used differently but they all end up to making the company achieve its objectives. For the proper operation of the company, all these facilities need to be in proper condition. There is need for there to be a timely system in place that will tell when new assets need to be purchased and for what purpose. The company would also be interested to know when some of the facilities are depreciating. Asset Manager can be able to accommodate all these information easily and conveniently. This would definitely make it essay for John and Jane to make better decisions on the management of Jimeny Cricket. I would therefore recommend that this company purchase Asset Manager. However, the management of the company should be prepared to bear the cost that comes with it. CLOUD COMPUTING Executive Summary Cloud computing is where volume of all data, application, platform and infrastructures are centralized and shared while manipulation of this data is through externally connected devices such as desk top which have limited applications. It is a technology that best fits industries that stores and requires computing of large amount of information by many clients. Its advantages are that it is cheap, fast and easy to manage when compared to other form of networks. Data security and making the system compliance with the computing standards are the major disadvantages of cloud computing. Jimeny Criicket Pty should invest in this technology since it would simplify the internal operations of the company. Introduction According to Whitelock (2002), cloud computing is one of the most advanced technologies in Information Technology. Literally, cloud computing is used to mean mass of moving information that moves like a cloud. In this case, volume and large amount of data, information and computing elements are stored together. In cloud computing, hosting of data and the computing elements are centralized. Within the centralized data there are computing components and resources in in that access the data in real time (Asgari, Ahmad, & Gurrib 2010). These components are able to access the computing resources through policy based control. The end users are able to access the cloud applications externally through light weight desk top, mobile applications, business software and servers. During the access, no catching or improvements are made by the components to the data hosting center. Application, platform and infrastructures are centralized and shared. Advantages In an industry where many people requires a form of system to compute and periodically store and retrieve related form of data, then cloud computing would definitely be the best way to go. The cost of the entire application is very cheaper compared to the cost that it would have been if another form of network would have been used to serve the same purpose as those done by cloud computing (Bianchi 2000). In the cloud network, all the applications, platforms and infrastructures are centralized and all the end user needs to do is to trigger some instructions on what he or she needs to be done from the end user access point. Manipulation of the data is then done and the information sends to the access point. This means that the cost of the entire system would be cheaper since end user access points would not need to have many facilities such to perform the functionalities of the system (Simacek 2002). Moreover, the end user can access the cloud infrastructure through interfacing it with a variety of accessories such as phones, tablets or computers. By the fact that the infrastructure of cloud computing is convergence, the applications are able to run fast, are easily managed and requires less maintenance. In case technology changes and there is need to upgrade the system, all is needed is to make changes in the cloud infrastructure (Stouffe, Falco, Scarfone 2006). This is different from the case where each computer is networked through applications. In that case it would require review of the entire network and the system. Disadvantages The fact that cloud computing is accessed by various people at different terminals poses some risks while it is on use (Bertocco et al 2007). A lot of information transverses through the network and therefore makes the data not secure. Modern IT systems have the network connected to the internet which makes the system vulnerable to cyber-attacks. However as observed by Willig & Kubisch (2002) the distributed nature of cloud computing makes it essay for the system to recover from this kind of attacks. Compatibility of accessories also becomes a major issue in the network. Situations present themselves where devices with different technologies have to be interfaced with the network (Stouffer, Falco, & Scarfone 2006). This would require additional cost. Guaranteeing on availability of data is something that this network may not fully meet. When the central network is under maintenance or destroyed, it means the entire system will stop working. Again there are compliance standards that need to be observed when setting this network. Designing this network to suit a given company would require thorough research and resources. Recommendations In Jimeny Cricket Pty Company cloud computing would definitely be a positive move in the internal operations of the company. There are accounting transactions which requires generation of different reports. One way to do this is at departmental levels where computers with associated software do the transactions that are of concern to that department. However, this would not be as efficient as when it is done through cloud computing. Since there are various department involved, cloud computing would be the cheapest means through which this company would be able to improve its internal operations. It shall be possible to access different information from various points. Top management and employees would be able to access the flow of cricket accessories and clothing with their company which would motivate them to be keen on their operations. A way through which customers can view the availability of product including the price from the internal structure would be a good move of advertisement. However in setting up of this system, directors must ensure that all standards are met to prevent problems that may erupt latter while the system is in use. References Asgari M, Ahmad, S & Gurrib, M, 2010, ‘Cloud Network Technology’, Computer Networks, Vol. 1, no.1, pp. 68-73. Bianchi G 2000, ‘Performance analysis of the IEEE 802.11 Distributed Coordination Function’, IEEE Journal on Selected Areas in Communication. Vol. 18, no. 3, pp.1-44. Bertocco, M, Gamba, G, Sona, A & Vitturi, S 2007, ‘ Performance Measurement of CSMA/CA-Based Wireless Sensor Networks for Industrial Applications’, IEEE Instrumentation and Measurement, Vol. 6, no. 4, pp.1-4. Cirronet, 2002, ‘Wireless Communications for Industrial Application’, White paper, Vol. 1, no.1, pp. 68-73. Jacobsen, J, Schlenker, T & Edwards, L 2005, Implementing a Digital Asset Management System: For Animation, Computer Games, And Web Development, Elsevier Kimberly, G, Jeff, M & Joan 2006, W ‘Asset Management,’ International Journal of Managerial Finance, Vol. 2, no. 2, pp. 96-120. Kocak, A & Abimbola, T 2009, ‘Effects of Cloud Computing, International Journal on Computer networks, Vol. 26, no. 4/5, pp. 439-452. Richter, L 2010, Possibilities and Limitations of Internal Software: Engineering and the Implementation of Applications in Independent Asset Management, GRIN Verlag Rudd, C 2009, ITIL V3 Guide to Software Asset Management Volume 3 of Itil Guide to Software Asset Management ITIL OGC portfolio product, The Stationery Office Simacek , P 2002 Real-time Control Using Wireless Local Area Network, University of Technology, Finland Stouffer, K, Falco, J & Scarfone, K 2006, W ‘Recommendations of the National Institute of Standard and Technology,’ Guide to Industrial Control System(ICS) Security, Vol. 2, no. 2, pp. 96-120. Stouffer, K, Falco, J, Scarfone, K 2006, W ‘Recommendations of the National Institute of Standard and Technology,’ Guide to Industrial Control System(ICS) Security, Vol. 3, no. 2, pp. 120-121. Willig A & Kubisch, M 2002 ‘ Measurements of a wireless link in an industrial environment using an IEEE 802.11-compiant physical layer, IEEE Trans. On Ind. Electr. Vol. 49, no. 6, pp.1-44. Whitelock, J 2002, ‘Insight to cloud computing,. 342-347. Zhao, G 2011, ‘Wireless Sensor Networks for Industrial Process Monitoring and Control: A Survey’, Network Protocols and Algorithms, Vol. 3, no. 1, pp. 46-63 Read More