FEDERAL EXPRESS ACCOUNTING SYSTEM ANALYSIS

Federal Express Accounting System Analysis

Federal Express Accounting System Analysis

FedEx Corporation is a Delaware corporation, incorporated October 2, 1997. FDX Corporation was founded in January 1998 with the acquisition of Caliber System Inc. by Federal Express. With the purchase of Caliber, FedEx started offering other services besides express shipping. Caliber subsidiaries included RPS, a small-package ground service; Roberts Express, an expedited shipping provider; Viking Freight, a regional, less-than-truckload freight carrier serving the Western United States; Caribbean Transportation Services, a provider of airfreight forwarding between the United States and the Caribbean; and Caliber Logistics and Caliber Technology, providers of logistics and technology solutions. FDX Corporation was founded to oversee all of the operations of those companies and its original air division, Federal Express.

In January 2000, FDX Corporation changed its name to FedEx Corporation and re-branded all of its subsidiaries. Federal Express became FedEx Express, RPS became FedEx Ground, Roberts Express became FedEx Custom Critical, and Caliber Logistics and Caliber Technology were combined to make up FedEx Global Logistics. A new subsidiary called FedEx Corporate Services was formed to centralize the sales, marketing, customer service for all of the subsidiaries. In February 2000, FedEx acquired Tower Group International, an international logistics company. FedEx also acquired WorldTariff, a customs duty and tax information company, TowerGroup and WorldTariff were re-branded to form FedEx Trade Networks.

FedEx Corp. acquired privately held Kinko's Inc. in February 2004 and rebranded it FedEx Kinko's. The acquisition was made to expand FedEx retail access to the general public. After the acquisition, all FedEx Kinko's locations exclusively offered only FedEx shipping. In June 2008, FedEx announced that they would be dropping the Kinko's name from their ship centers, with FedEx Kinko's changing to FedEx Office.

Federal Express has maintained successful operations and earnings of around $6 million with 550 employees. Riordan orporated has maintained effective operations through quality management in Finance and Accounting, Sales and Marketing, Human Resources, Operations, Legal and Information Technology. Federal Express orporated is focused on ?achieving and maintaining reasonable profitability to assure that the financial and human capital is available for sustained growth.?Recommended Accounting SoftwareAt Federal Express ., the accounting software utilizes the basic components such as general ledger entries with accounts payable and accounts receivable, sales and purchasing with invoicing and purchasing, payroll, and financial reporting with EDI and barcode reading at the San Jose office. Even with these systems in place, Riordan should orporate the following systems for reased tracking, accountability, and reporting, as indicated on Accounting Software Porta (2009):1)ERP Software - ERP spans the businesses operations and becomes involved in many of the areas where companies are innovating.

2)Manufacturing Accounting Software - Accounting software generally requires little customization. Manufacturing systems on the other hand can become redibly intricate. This is because manufacturing execution systems MES are one of the areas where most companies tend to innovate.

3)Accounting CRM System - Because businesses tend to innovate when focused on customer service an agile system is almost an imperative if you?re shopping for accounting CRM ...