Answered

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Read this description and then make a list of expected business benefits that the company might derive from a new system: Especially for You Jewelers is a small jewelry company in a college town. Over the last couple of years, it has experienced a tremendous increase in its business. However, its financial performance hasn’t kept pace with its growth. The current system, which is partly manual and partly automated, doesn’t track accounts receivables sufficiently, and the company is finding it difficult to determine why the receivables are so high. It runs frequent specials to attract customers, but it has no idea whether these are profitable.

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Anthougoidn

Answer:

The business benefits that the company might derive from a new system that is fully automated are:

1. The new system will sufficiently track accounts receivables.

2. The new system will determine when and why the receivables are so high.

3. The new system will be able to clarify if the frequent specials that it runs are profitable or not.

Explanation:

A new and improved system of accounting provides many advantages to the business.  It provides timely reconciliation of accounts.  It makes it easier to settle bills and ensures that bills are not duplicated.  It features access controls, report formats suitable for each business unit and organization, and improves data reliability, among others.

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