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Accounting Information SystemAccounting Information System
An Accounting Information System is the system of records a business keeps to maintain its accounting system. This includes the purchase, sales, and other financial processes of the business.
Management
Data Processing Software
Database
Input PhysicalResource
Output PhysicalResource
Transform
Accounting Information System
Data Information
Types of Accounting Information SystemTypes of Accounting Information System
1) General Ledger System
2) Asset Management
3) Order Entry System
4) Accounts Receivable & Payable System
5) Inventory Control System
6) Payroll System
7) Cash Management { forecast cash flow in any currency and in multiple time period, streamline the reconciliation process , manage cash cycle efficiently and with control)
Financial Information SystemFinancial Information SystemDefinition
The term Financial Information System is used to describe the CBIS subsystem that provides information to person and group both inside and outside the firm concerning the firm’s financial matter.
Functions of Financial ISFunctions of Financial IS1) Provide easy access to data for both financial and non-financial
users, often through the use of a corporate intranet to access corporate web pages of financial data and information.
2) Make financial data immediately available to shorten analysis
3) Enable analysis of financial data along multiple dimensions- time, geography, product, plant, customer
4) Analyze historical and current financial activity
5) Monitor and control the use of funds over time
Subsystem of Financial ISSubsystem of Financial IS1) Financial Forecasting and Planning
a) Financial forecasting is the process of predicting the inflows of funds into the company and the outflow of funds from it for a long term into the future.
b) Outflow of funds must be balanced over the long term with the inflow.
c) Financial forecasts are based on computerized models knows as cash flow models.
d) These cash flow models range from rather simple spreadsheet templates to sophisticated model.
e) Financial Forecasting serves to identify the need for funds and their sources
2) Financial Controla) The primary tool for financial control are budgets. A budget specifies the resources committed to a plan for a given project or time period.
b) Along with budgets and performance reports, financial control employs a number of financial ratios indicating the performance of the business unit.
c) A widely employed financial ratio is Return on Investment(ROI). ROI show how well a business unit uses its resources.
3) Fund Managementa) This subsystem helps to manage the organization’s liquid assets, such as cash or securities.
b) Some firms deploy computerized systems to manage their securities portfolios.
4) Internal Auditinga) The audit function provide an independent appraisal of an organization’s accounting, financial, and operational procedure and information
Marketing Information SystemsMarketing Information SystemsDefinition
Marketing information system is a computer based system that works in conjunction with either functional information system to support the firm’s management in solving problems that relate to marketing of the firm’s products
Environmental Sources
User
Accounting Information
System
Marketing Research
Subsystem
Marketing IntelligenceSubsystem
Internal Sources
Data Base
ProductSubsystem
Place Subsystem
PromotionSubsystem
Price Subsystem
Manufacturing Information System Manufacturing Information System
Definition
“Manufacturing Information is a complete set of tools for managing the flow of manufacturing data through out the organization.”
Subsystems of Manufacturing Subsystems of Manufacturing Information SystemInformation System
1) Product Design & Engineering * Product design and engineering are widely supported
today by Computer Aided Design(CAD) and Computer Aided
Engineering.
* CAD/CAE systems increasingly eliminate paperwork from the design process, while speeding up the process itself.
2) Production Scheduling * This subsystem ensures an appropriate combination of
human, machinery, and material resources will be provided at an appropriate time in order to manufacture goods
* Computer Integrated Manufacturing is a strategy which a manufacturer takes control of the entire manufacturing process
* Computer Aided Manufacturing is used to control the machinery.
3)Quality Control QC may be defined as group of techniques by means of which
Products of uniform acceptable quality are manufactured
TQM is a management technique for continuously improving the performance of all members and units of a firm to customer satisfaction
4) Facilities Planning
5) Logistic and Inventory Management
Human Resource Information SystemHuman Resource Information SystemDefinition“ HIRS is an organized method of providing information about HR, their functioning and external factors relevant to managing HR”
Human ResourceResearch Subsystem
Human Resource
Intelligence Subsystem
Data base
HR Acquisition Subsystem
HR DevelopmentSubsystem
MaintenanceSubsystem
IRSubsystem
User
Input Subsystem
Output Subsystem