You are a recent graduate accountant and for the last two months you have been working for a travel agency in Tasmania called “Tassie Travels”. The company was established in 2012 and since then it has been using the 2012 version of MYOB. The financial accountant has sent you the following email:
Hi [Your Name],
I’ve been thinking recently that we need to change our accounting software. I’ve been hearing a lot about this software called “Xero”. Not sure if you were taught this in your studies at UTAS but I found this video online.
The video says that it has developed new ways of performing bank reconciliation and that it uses artificial intelligence and machine learning.
I’m very “old school” so I’m not that familiar with these new technologies and sometimes I wonder is it just a marketing gimmick. I also don’t know how they could change the bank reconciliation process. I’ve been doing bank reconciliations for the last 13 years and I don’t see how they could change it or why such a change is necessary.
I’d like you to do some research to help me better understand Xero and its supposed capabilities so that I can make a decision on whether we should change to Xero or stay with our current version of MYOB. It might be old but it does the job. Why fix something that’s not broken is my motto?!
So I’d like you to watch the video and critically evaluate the statements made by the presenters. Especially on the purported improvements to Bank Reconciliation and the use of Artificial Intelligence and Machine learning. If Xero does offer a new way of performing bank reconciliations, then I’d like you to illustrate this new process in Xero using BPMN. We sent you on a workshop to learn business process modelling using BPMN a few weeks ago so it still should be fresh on your mind. I’d prefer seeing the BPMN of the new process as it’s easier for me to understand processes through visual diagrams.
I have bought a two-month subscription to Xero and I have added you to the online account. You should have received an email with link to your Xero account. You can use this account to understand the bank reconciliation process.
I also am aware that Xero offers a Xero Advisor Certificate. I would like you to complete the Xero Advisor Certificate and provide a short reflection on your experience completing the Xero Advisor Certificate. That is do you believe that it provides sufficient training to prepare you (or anyone else) to be proficient with Xero. If not, then what other type of training/resources would you like to have so I can consider this.
I had a very formal and traditional education. I completed my undergraduate degree in accounting 15 years ago. I’m very interested in all these new online credentials and wonder if it is really useful or just a lot of “bells and whistles”
Grateful if you could submit the report to me by 18th of October and let me know if you have any questions.
Tassie Travels Pty Ltd
Your assessment consists of the following components:
i.) Written report evaluating the online video and its claims along with reflection on Xero Advisor Certificate
ii.) BPMN of bank reconciliation process in Xero
iii.) Completion of Xero Advisor Certificate
The details of each of these components are provided under the appropriate subheadings below:
i.) Written report
Your written report is written to the manager to assist in his decision of continuing on with his old version of MYOB or moving to Xero and additional training you may require for Xero. I have provided a template here as a guide. The template provides both a structure and also guidance on the nature of the content of the report. Please read it thoroughly!!!
a.) Purpose is clear, concise and summarizes the key aspects relating to the financial accountant’s decision regarding Xero
b.) Excellent critical evaluation of online video that demonstrates the student’s viewing of the video, analysis of the video and deep understanding of the Xero technology and artificial intelligence.
c.) Student’s perspective on Xero is clear and student has been able to communicate this view persuasively and taken into account the financial accountant’s own opinion of Xero
d.) Student’s has demonstrated a deep reflection of their experience completing the Xero Advisor Certificate and has communicated their experience clearly that is useful for the financial accountant in making decisions regarding the value of XAC and the possibility of additional training for staff that will use Xero.
e.) Conclusion is clear, concise and summarizes the key points that is useful to assist the financial accountant in making their decision
ii.) BPMN of bank reconciliation process in Xero
Using the tools and BPMN drawing concepts learned in this unit, draw a BPMN of the bank reconciliation process in Xero based on the online video referred to by the financial accountant, your own experience with Xero and also research on the bank reconciliation process in Xero. You do not have to upload a separate submission for the BPMN. Your BPMN can be incorporated in your report. Please also provide the link to your BPMN in case your diagram’s text maybe too small to read. Here is an example of a link to a BPMN created using Cawemo.
Your BPMN (35%) will be assessed based on the following:
a.) Application of BPMN concepts and modelling techniques learned in the uni
b.) Demonstration of understanding of Xero bank reconciliation process
c.) Quality of additional narration or quality of BPMN that it doesn’t require additional narration
iii.) Xero Advisor Certification (XAC)
5% of assignment 3 is based on the attainment of the Xero Advisor Certification. The Xero Advisor Certification comprises of 12 modules that is suggested to take 6 hours to complete (inclusive of reading, studying and completing the assessments). You can access the Xero Advisor Certification by clicking here and then logging in with your Xero account details.
Once you complete your Xero Advisor Certification (XAC) you will receive a PDF certificate from Xero with your name and the date of completion. Click here to view an example of the certificate. You are to upload this certificate in the Assignment 3 Dropbox link. We will also verify on your Xero account that you have completed the XAC. We have access to your Xero Account and can review your activity including your completion of the XAC so please ensure that you complete the XAC using your Xero account based on your UTAS email address.
Students will receive 5% if they have uploaded their certificate. Students who do not upload a certificate will not receive any mark for this component of the assignment.
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