27891090 Mis Application in Finance

8/7/2019 27891090 Mis Application in Finance

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MIS IN FINANACE AND

ACCOUNTING



MANAGEMENT INFORMATION SYSTEM

GORDEN B DAVIS

An integrated user machine system for providing information to support

operations, management and decision making functions in an organisation.The system utilises computer hardware and software, manual procedures,

models for analysis planning, control and a data base.



GENERAL USES OF MIS IN FINANCE

y MONTHLY ACCOUNTS OF TRANASCTIONS

y CASH FLOW

y SOURCES & USES OF FUNDS

y LEDGER & JOURNAL

y MONTHLY RETURN AND STATEMENT

PROCESSINGy TRIAL BALANCE & BALANNCE SHEET

y PAY ROLE ACCOUNTING



FINANCIAL INFORMATION SYSTEMS (FIS)

Financial information is the lifeblood of a business ² Enabling ensures an

appropriate, cost-effective administration. Financial management

information system (FMIS) is installed for timely, relevant and accurate

information to support better business decisions.

Benefits of FIS

Flexibility of reporting and additional control over expenditure

Less administration required within the businessTighter views of budgets versus actuals



Financial statements

Uses and management

of funds

Financial statisticsfor control

Operational

databases

Databases

of valid

transactions

for each

TPS

Transaction

processing

systems

Business

transactions

Business

transactions

Internet or

Extranet

OVERVIEW OF FINANCIAL MIS

Financial

MIS

Business

transactions

Databases of

external data

Databases of

internal data

Financial

DSS

Financial

ES

Financial

applications

databases

Customers,

Suppliers



Inputs to the Financial

Information Systemy Strategic plan or corporate policies

y Contains major financial objectives and often projects financialneeds.

y Transaction processing system (TPS)y Important financial information collected from almost every

TPS - payroll, inventory control, order processing, accountspayable, accounts receivable, general ledger.

y External sourcesy Annual reports and financial statements of competitors and

general news items.



Financial MIS Subsystems

y Financial subsystems

y Profit/loss and cost systemsy Auditing

y Internal auditing

y External auditing

yUses and management of funds



Accounting Information

System(AIS)

y Subsystem of MIS that processes financial transactions to

provide (1) internal reporting to managers for use inplanning and controlling current and future operations

and for non routine decision making; (2) external

reporting to outside parties such as to stockholders,

creditors, and government agencies.



Accounting Information

System(AIS)� Accounting Information System (AIS) combine the

study and practice of accounting with the design,

implementation, and monitoring of informationsystems. Such systems use modern information

technology resources together with traditional

accounting controls and methods to provide users the

financial information necessary to manage theirorganizations.



AIS Technology

y Input -The input devices commonly associated with AIS include:standard personal computers or workstations running applications;scanning devices for standardized data entry; electronic communicationdevices for electronic data interchange (EDI) and e-commerce. Inaddition, many financial systems come "Web-enabled" to allow devices

to connect to the World Wide Web.y Process -Basic processing is achieved through computer systems

ranging from individual personal computers to large-scale enterpriseservers. However, conceptually, the underlying processing model is stillthe "double-entry" accounting system initially introduced in thefifteenth century.

y

Output -Output devices used include computer displays, impact andnonimpact printers, and electronic communication devices for EDI ande-commerce. The output content may encompass almost any type of financial reports from budgets and tax reports to multinational financialstatements.



Softwares used in AIS

GnuCash · HomeBank · TurboCASH

Micr osoft OfficeAccounting Expr ess

Banana accounting · FlexAccount

Micr osoft Dynamics AXMicr osoft Dynamics NAV

Micr osoft Dynamics SL

Micr osoft OfficeAccounting Pr ofessional

Micr osoft Small Business Financials

SAP Business One



Organization computing resources

y Application Sof tware:-

y Microsof t Off ice

y NOD32 Anti-Virus

y Adobe Reader

y System Sof tware

y Operating System (Windows XP and Linux) for PC·s.

y Windows 2003 server for mainframes.

y Hardware Resources

y HP Printers Currency counter Dell

Mainframes

y Coin counters HP Digital Scanners Networking

cards



THANKYOU

27891090 Mis Application in Finance

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