ipl-logo

Ignited Minds Book Store Essay

1003 Words5 Pages

1.0 COMPANY BACKGROUD Ignited Minds bookstore was created in 1989 by Mr Arthur Wolfgang who passed away two years back. His son, Mr. Anatoly Wolfgang decided to take over the bookstore after the death of his father. However, the Ignited Minds Bookstore (IMB) is becoming less popular due to the increase in competition. With the emergence of new bookstores proposing new and innovative concepts, the Ignited Minds is losing its share of the market. The IMB, which is situated in the heart of the city, actually employs two persons. The daily transactions are recorded in a simple and informal way. The sales and purchases are done on a cash basis only which are later recorded manually in ledger books. Spending is effected directly from the cash in …show more content…

It refers to the function (process or operation) integrated with a computer system and performed by trained person . The main objectives of a computerised system is to improve productivity; get rid of paperwork; time saving; improve security and lastly increase efficiency and effectiveness of the operations. Consequently, a computerised system poses the following advantages and disadvantages: i. Advantages: • Saving Time: Small organisations save a lot of time with the computerisation of its processes. At Ignited Minds Bookstore, the employees/owner must often wear many hats. Recording of transactions such as issue of invoices or purchase orders can be quickly prepared without having to go through slacks of papers; • Reduced errors: Computerized accounting programs can reduce calculation errors that can result in inaccurate inventory counts, billing for too large or small of an amount or incorrect sales receipt totals ; • Efficiency: Use of computerised system improve effectiveness and increase efficiency of transactions; ii. Disadvantages: • Cost: Implementation and development of a computerised system is fairly high. IMB will have to invest a lot of money at the start of the project and will only get return on this investment over the next 2 to 3

Show More
Related
203 Words | 1 Pages

Intuitive thinkers prefer to be challenged intellectually and to think things through for themselves. "Bezos shows intuitive thinking in his products by continuously coming up with new products to compete with his competitors. One way Bezos shows intuitive thinking would be how he’s planning for drones to fly Amazon deliveries to customers. That definitely shows that he’s being an intuitive thinker because of its innovative, creative and that out of the box thinking that will set a high bar for other competitors to compete with. Also, his most intuitive way of thinking was his invention of the Kindle Fire.

Read More
952 Words | 4 Pages

Tucker developed a design and automatically took it to the public; instead he should have collected the necessary finances first. The move of not fully coming to terms with the financial start of this business caused a restrain on some of Tucker’s

Read More
799 Words | 4 Pages

Super Bowl LII: A Million Dollar Advertisement Upon the first Sunday of February each year, the two remaining football teams in the NFL come together to compete and continue a national holiday that dates back to 1967. In that inaugural year, it cost approximately $40,000 to occupy a slot of time on the television screens of 50 million people around the country. 51 years later, in 2018, that price has been heightened to between 5 and 5.5 million dollars, now attracting nearly 100 million viewers each year.

Read More
709 Words | 3 Pages

Banned Books are books that are prohibited by law or to which free access is not permitted by other means. Banning books is against the writers right for freedom of speech, which is the first amendment. Students have the right to read, reading is not illegal, so why ban books? If a reader is mature enough to handle some curse words or bad behavior then they should be able to read banned books. Some people believe books should not be banned in schools/libraries but just because you do not like it does not mean it should be taken away, that is the authors freedom of speech.

Read More
516 Words | 3 Pages

In this essay, "Why Literature Matters", author Dana Gioia sets up an argument about literature. Which she uses various ways to persuade her audience be in favor of her proposal; by showing statistic evidence, facts, and historical evidence, as well as some ironies, diction, and the appeals to reader's emotion. First of all, Gioia begins with strong appeals to reader's logos by clearly laying out the statistic source. For example, "According to the 2002 survey of Public Participation in the Arts, the reading population of the Americans is declining. " In turn, is an attempt to point out the thesis statement and make the readers to think out about this topic wile reading through her essay.

Read More
612 Words | 3 Pages

“Books give a soul to the universe, wings to the mind, flight the imagination, and life to everything.” -Plato. This quote shows the importance of books. If there were to be a world without books, the most important book I would keep would be Fahrenheit 451. This book would be important to keep because it would show us what would happen if books were outlawed.

Read More
1416 Words | 6 Pages

• MIND IS THE SOURCE OF WEALTH She strongly believes that mind is at the root of creation and maintenance of wealth. It is the competent thinkers who create wealth and promote human economic prosperity through innovation and the creation of new enterprises. In her book the passionate producers known as the “Prime movers” like Dagny Taggart, Hank Rearden reshape the marketplace with their innovation and creation of a new enterprise. In John Galt’s speech he says “the man who produces an idea in any field of rational endeavor the man who discovers new knowledge is the permanent benefactor of humanity.”

Read More
709 Words | 3 Pages

Banned Books are books that are prohibited by law or to which free access is not permitted by other means. Banning books is against the writers right for freedom of speech, which is the first amendment. Students have the right to read, reading is not illegal, so why ban books? If a reader is mature enough to handle some curse words or bad behavior then they should be able to read banned books. Some people believe books should not be banned in schools/libraries but just because you do not like it does not mean it should be taken away, that is the authors freedom of speech.

Read More
1177 Words | 5 Pages

As is typically the case with ICT start-ups (the likes of Facebook and Apple) the company started operating from a garage. The idea was essentially to replace the brick and mortar book store with an electronic one. The value proposition of this model has the capabilities and advantages of the internet embedded in it. To note but a few advantages of this business model, cost to the customer is low, distance and shopping hours are no longer a restriction to customers.

Read More
5718 Words | 23 Pages

This paper presents an overview of Kmart retail supply chain in New Zealand. Various IT systems and software used by Kmart are presented in this paper. The new IT systems and business applications are also proposed. In retail sector, IT is involved at every point right from supply chain management to POS terminals for transaction processing. Efficient use of technology and IT systems can bring innovation.

Read More
748 Words | 3 Pages

However, in personal finance, cash accounting is often used to define and account for events when the cash changes hands. This practically implies that in personal finance, incomes and expenses are noted when the cash is received or paid, or when the cash actually flows. In managing personal finance, the accounting process in crucial in that it records personal transactions of what flows in and what flows out. As checkbooks records most transactions with statement from bank carrying others, this accounting transaction information is summarized in financial statement and can easily be read most efficiently. Furthermore, the summary report of the income statement, cash flow statement, and balance sheet clearly show one’s personal financial status paving the way for better managing personal finance.

Read More
1008 Words | 5 Pages

The amount of time the business spent in handling routine paperwork, the chaotic condition of its financial records as well as the cost of hiring part-time workers, moved Mr Martin Abella to suggest radical change in making the business get computerized since he is

Read More
1377 Words | 6 Pages

A computer has already become an inseparable part of life. It helps a doctor in his diagnosis; it helps an engineer in his multifarious activities; guides a pilot or a navigator to safety; it helps a public or a private official or businessman in more ways than one. It is an important part of every institution, every office and every establishment public or private in several countries. Accept it or not, the computer has invaded the work place.

Read More
891 Words | 4 Pages

According to Thomas A. Edison, “Vision without execution is hallucination.” For you to become a successful entrepreneur,

Read More
1372 Words | 6 Pages

Table of Contents Abstract: 3 Introduction: 3 Functions of an Accounting Information System: 4 Literature Review: 4 The Role of Financial Statement in Managerial Decision Making: 6 Accounting Information System related to Decision-making process: 7 Accounting Information on Decision-making Process: 7 Conclusion: 9 References: 10 Abstract: This paper discussed the extended normative model and supported through a longitudinal study. It is exploring the roles of Accounting Information Systems in an organization facing financial stages. Many teams suffer the various crises in different types.

Read More

More about Ignited Minds Book Store Essay

Related Topics

Open Document