3. Read the extract carefully and apply the problem-solution pattern of analysis to it. Use numbers only to refer to each answer. (5marks each)
Colston & Colston (1) Colston & Colston is an independent firm of chartered surveyors and commercial property consultants with extensive contacts throughout the West Country and South Wales. (2) They had one bookkeeper using Sage desktop accounting and an accountant dealing with year-end filing and tax advice. (3) They had numerous files of paper in the office; sales invoices, purchase bills, expenses, and bank statements to name but a few of what they had to handle. (4) Also the flow of information was not satisfactory for they were receiving the compliance side of an accounting function but not any management reporting and wanted to be in touch with their data to start tracking how various areas of the business were performing. (5) Angela Ashworth of Purple Lime (a team of experienced and practiced accountants) met with Alistair Colston and his fellow partners. (6) They reviewed how the flow of information and paperwork could be improved upon. (7) Angela introduced the firm to the world of Xero cloud accounting software and some of the associated apps which could be used to run their business. (8) Angela set up Xero cloud based accounting initially and worked with the partners to track the different areas of the business that they wished to monitor. (9) Live bank feeds were integrated with Xero, following on from that Receipt Bank was integrated with Xero for all costs and expenses to be captured and finally, Re-Leased was integrated at the front end which is a commercial and residential property management system. (10) The business now has a tailored cloud based system and the office is free of many files of paper; all documents are stored in the cloud.
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a) The starting situation presented in sentence number ———–
b) The problem presented in sentence number———
c) The underlying cause of the problem is presented in sentence number ———–
d) Solution has been proposed in sentence number ———-
e) Evaluation of the solution presented in sentence number ——-