1. Describe or define virtual office
Answer:
A virtual office or V.O. is typically a managed telephone answering or email response service that receives and routes telephone or email messages on behalf of a small business and may provide some initial scripted response to a query. The business that uses this service typically does not have fixed office premises or employ regular reception or customer contact staff - and so the V.O. provides a means of receiving and passing on calls and messages when not available to deal with a customer inquiry. The prime objective of the V.O. is to assure that customer contact is captured and able to be followed up by whomever the call is relevant or important to.
2. Distinguish virtual office from MIS.
Answer:
Imagine you decide to open a business offline, for example a store selling tools. You will have to find a location, commit to tens of thousands of dollars in rent and, most importantly, actually go to work everyday. After all, who else is going to open the front door each morning? On top of this, your pool of customers is limited to those willing to drive to your location. All of these limitations and aggravations associated with a physical store go by the wayside when you go online.
Having worked online for a very long time, I can tell you the virtual office advantage is by far the best aspect of the Internet. Here is the proof. As I am writing this article, it is 1:13 p.m. I am at home. I am wearing sweats. After being up all night on a project, I am thinking about going back to bed. This is all possible because I have a virtual office. In fact, our business is so virtual oriented that I have never physically met some of my programmers who live in other countries!
MIS improves the quality of plants by providing relevant information for sound decision - making . Due to increase in the size and complexity of organizations, managers have lost personal contact with the scene of operations.MIS change the larger amount of data in to summarized form and there by avoids the confusion which may arise when managers are flooded with detailed facts. Decentralization of authority is possibly when there is a system for monitoring operations at lower levels. MIS is successfully used for measuring performance and making necessary change in the organizational plans and procedures.
Reference:
http://wiki.answers.com/Q/Advantages_of_mis
3. Illustrate (give examples) how vertual office can improve company's competitive advantage and organizational performance.
Answer:
n some cases the V.O. service may contact the customer as well as receive queries from them (refer "telesales" and "telemarketing").
Virtual office services for small businesses are often provided by a business center, in other words, a building offering furnished offices with several services such as receptionist services, phone services, fax services, web hosting service, and so forth.
Certain providers of virtual office services will provide other in-house or outsourced services such as corporate secretarial services, accounting services, or legal services. Professional firms such as law firms and accounting firms often provide registered address services as part of their service offerings.
Virtual office companies that focus more on the "executive suite" side of the spectrum are located in major cities due to the high popularity of prestigious-looking business addressed. However, there are growing numbers of providers in industrial parks & science parks around the world, that often attract technology or manufacturing-based companies.Virtual office is also a common term for an environment that enables a network of co-workers to run a business efficiently by using nothing other than online communication technologies.
In the TIC sector, a virtual office is a category of groupware gathering organization, communication and collaboration data centralized on a server. The user accesses data from any devices (PC, laptop, PDA, smartphone, etc..) equipped with a Web and a connection to Internet.
Reference:
http://en.wikipedia.org/wiki/Virtual_office
DIPAY, IVY MAE J.
Wednesday, May 20, 2009
Tuesday, May 19, 2009
Final Question # 4
1. Describe or define DSS.
Answer:
Decision Support Systems (DSS) are a specific class of computerized information systems that supports business and organizational decision-making activities. A properly-designed DSS is an interactive software-based system intended to help decision makers compile useful information from raw data, documents, personal knowledge, and/or business models to identify and solve problems and make decisions.
Typical information that a decision support application might gather and present would be:
* an inventory of all of your current information assets (including legacy and
relational data sources, cubes, data warehouses, and data marts)
* comparative sales figures between one week and the next
* projected revenue figures based on new product sales assumptions;
* the consequences of different decision alternatives, given past experience in
a context that is described.
Reference:
http://en.wikipedia.org/wiki/Decision_support_system
2. Distinguish DSS from MIS.
Answer:
The terms MIS and DSS stand for Management Information Systems and Decision Support Systems respectively. There has been a lot of talk regarding these two, whether they are actually the same thing or if there are any significant differences between the two.
MIS is basically a kind of link to facilitate communcation between managers across different areas in a business organization. MIS plays a pivotal role in enabling communications across the floor of an organization, between various entities therein.
DSS, many consider, is an advancement from the original MIS. However,this is not the sole difference between the two. While there may not be too much separating the two, the difference is still there,as is apparent when we say DSS is an advancement over MIS.
The essential difference between the two is in focus. DSS, as the term indicates, is about leadership and senior management in an organization providing good, reliable judgment as well as vision. MIS, on the other hand, is about focusing on the actual flow of information itself.
Reference:
http://www.blurtit.com/q255508.html
3. Illustrate (give examples) how DSS can improve company's competitive advantage and organizational performance.
Answer:
There are some advantages of DSS
1. Improves personal efficiency
2. Expedites problem solving
3. Facilitates interpersonal communication
4. Promotes learning or training
5. Increases organizational control
6. Generates new evidence in support of a decision
7. Creates a competitive advantage over competition
8. Encourages exploration and discovery on the part of the decision maker
9. Reveals new approaches to thinking about the problem space
Reference:
http://en.wikipedia.org/wiki/Decision_support_system
Answer:
Decision Support Systems (DSS) are a specific class of computerized information systems that supports business and organizational decision-making activities. A properly-designed DSS is an interactive software-based system intended to help decision makers compile useful information from raw data, documents, personal knowledge, and/or business models to identify and solve problems and make decisions.
Typical information that a decision support application might gather and present would be:
* an inventory of all of your current information assets (including legacy and
relational data sources, cubes, data warehouses, and data marts)
* comparative sales figures between one week and the next
* projected revenue figures based on new product sales assumptions;
* the consequences of different decision alternatives, given past experience in
a context that is described.
Reference:
http://en.wikipedia.org/wiki/Decision_support_system
2. Distinguish DSS from MIS.
Answer:
The terms MIS and DSS stand for Management Information Systems and Decision Support Systems respectively. There has been a lot of talk regarding these two, whether they are actually the same thing or if there are any significant differences between the two.
MIS is basically a kind of link to facilitate communcation between managers across different areas in a business organization. MIS plays a pivotal role in enabling communications across the floor of an organization, between various entities therein.
DSS, many consider, is an advancement from the original MIS. However,this is not the sole difference between the two. While there may not be too much separating the two, the difference is still there,as is apparent when we say DSS is an advancement over MIS.
The essential difference between the two is in focus. DSS, as the term indicates, is about leadership and senior management in an organization providing good, reliable judgment as well as vision. MIS, on the other hand, is about focusing on the actual flow of information itself.
Reference:
http://www.blurtit.com/q255508.html
3. Illustrate (give examples) how DSS can improve company's competitive advantage and organizational performance.
Answer:
There are some advantages of DSS
1. Improves personal efficiency
2. Expedites problem solving
3. Facilitates interpersonal communication
4. Promotes learning or training
5. Increases organizational control
6. Generates new evidence in support of a decision
7. Creates a competitive advantage over competition
8. Encourages exploration and discovery on the part of the decision maker
9. Reveals new approaches to thinking about the problem space
Reference:
http://en.wikipedia.org/wiki/Decision_support_system
Final Question # 3
Identify and describe one company that adopts an MIS. Include in your discussion, how MIS helps and supports the company, its managers and other employees, in their problem solving and decision-making.
Answer:
Ramon MAgsaysay Memorial Colleges (RMMC), Management Information System help the institution by having a collection, storage, retrieval, communication and use of data for the purpose of efficient management of operations and for business planning.BY having MIS in the institution it helps by means of communication for them to be accomplish the job.
Management Information Systems (MIS) can be used successfully to facilitate access to a wide range of integrated data sets. They are consistent, modular and flexible tools for the systematic acquisition, analysis and archiving of data and information from a variety of sources.MIS can become even more powerful tools for planning and decision-making for them to be able to progress.
Answer:
Ramon MAgsaysay Memorial Colleges (RMMC), Management Information System help the institution by having a collection, storage, retrieval, communication and use of data for the purpose of efficient management of operations and for business planning.BY having MIS in the institution it helps by means of communication for them to be accomplish the job.
Management Information Systems (MIS) can be used successfully to facilitate access to a wide range of integrated data sets. They are consistent, modular and flexible tools for the systematic acquisition, analysis and archiving of data and information from a variety of sources.MIS can become even more powerful tools for planning and decision-making for them to be able to progress.
Wednesday, May 13, 2009
Final Question # 2
1.0.a Research one international company from the Internet and describe their MIS strategic plan in 1-2 paragraphs.
Answer:
Coca-cola Corporation
1.0.b Discuss too the impact of this strategic plan on the company's management,
competitors, customers and the company as a whole.
Answer:
MIS are interactive human/machine systems that support decision making for users both in and out of traditional organizational boundaries. These systems are used to support an organization's daily operational activities; current and future tactical decisions; and overall strategic direction. MISs are made up of several major applications including, but not limited to, the financial and human resources systems.
Financial applications make up the heart of an AIS in practice. Modules commonly implemented include: general ledger, payables, procurement/purchasing, receivables, billing, inventory, assets, projects, and budgeting.
Human resource applications make up another major part of modern information systems. Modules commonly integrated with the AIS include: human resources, benefits administration, pension administration, payroll, and time and labor reporting.
It Facilitates planning : MIS improves the quality of plants by providing relevant information for sound decision - making . Due to increase in the size and complexity of organizations, managers have lost personal contact with the scene of operations.
In Minimizes information overload : MIS change the larger amount of data in to summarized form and there by avoids the confusion which may arise when managers are flooded with detailed facts.
MIS Encourages Decentralization : Decentralization of authority is possibly when there is a system for monitoring operations at lower levels. MIS is successfully used for measuring performance and making necessary change in the organizational plans and procedures.
It brings Co ordination : MIS facilities integration of specialized activities by keeping each department aware of the problem and requirements of other departments. It connects all decision centers in the organization .
It makes control easier : MIS serves as a link between managerial planning and control. It improves the ability of management to evaluate and improve performance . The used computers has increased the data processing and storage capabilities and reduced the cost .
MIS assembles, process , stores , Retrieves , evaluates and Disseminates the information.
reference:
http://www.management-hub.com/information-management-advantages.html
2.0.a Evaluate how can this strategic plan be applied to any local company in the Philippines.
Answer:
Management information system is important tools to supports, analyse, delivery and adding reliability to any organization. Also this helps to solve businesses problems. The term MIS is often used to submit to a group of information management methods tied to the support of human decision making, e.g. Decision Support Systems, Expert systems, and Executive information systems.
Reference:
http://www.ask.com/bar?q=What+Is+the+Role+of+MIS&page=1&qsrc=6&ab=0&u=http%3A%2F%2Fwiki.answers.com%2FQ%2FWhat_is_the_role_of_management_information_system_in_an_organisation
2.0.b Discuss too the possible effect on the company.
Answer:
MIS - capabilities
The term 'information system' is a general term for a system that facilitates access to information; however, a ' management information system' refers to integrated data sources and information systems, which meet the particular needs and requirements of planning and decision-making. In an ideal case, the major objectives of MIS are to:
1. reach an understanding of the relevant processes on the basis of the available historic information. This element forms the basis for the development of models, required for forecasting and simulation.
2. provide information on the current situation, especially for early warning purposes, for instance related to issues impacting on food security, water resources or pest and disease status.
3. forecast changes and impacts, either natural or man-made , as an element in vulnerability assessments.
4. forecast the consequences of policy decisions and measures before they are implemented in reality. This implies evaluating options for several given scenarios based on the possible results and predicted consequences, and selecting the most acceptable alternative.
Reference:
http://www.ask.com/bar?q=Objectives+of+MIS&page=1&qsrc=6&ab=2&u=http%3A%2F%2Fknowledge.cta.int%2Fen%2FDossiers%2FS-T-Issues-in-Perspective%2FMIS-for-environmental-monitoring%2FArticles%2FManagement-Information-Systems
3.0.a What is an Accounting Information System?
Answer:
An accounting information system (AIS) 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. The purpose of an AIS is to accumulate data and provide decision makers (investors, creditors, and managers) with information.
While this was previously a paper-based process, most businesses now use accounting software. In an electronic financial accounting system, the steps in the accounting cycle are dependent upon the system itself. For example, some systems allow direct journal posting to the various ledgers and others do not.
Accounting Information Systems (AISs) combine the study and practice of accounting with the design, implementation, and monitoring of information systems. Such systems use modern information technology resources together with traditional accounting controls and methods to provide users the financial information necessary to manage their organizations.
Reference:
http://en.wikipedia.org/wiki/Accounting_information_system
3.0.b Identify or list down different accounting information systems used.
Answer:
Financial reporting starts at the operational levels of the organization, where the transaction processing systems capture important business events such as normal production, purchasing, and selling activities. These events (transactions) are classified and summarized for internal decision making and for external financial reporting.
Cost accounting systems are used in manufacturing and service environments. These allow organizations to track the costs associated with the production of goods and/or performance of services. In addition, the AIS can provide advanced analyses for improved resource allocation and performance tracking.
Management accounting systems are used to allow organizational planning, monitoring, and control for a variety of activities. This allows managerial-level employees to have access to advanced reporting and statistical analysis. The systems can be used to gather information, to develop various scenarios, and to choose an optimal answer among alternative scenarios.
Reference:
http://www.ask.com/bar?q=accounting+information+system&page=1&qsrc=2417&ab=4&u=http%3A%2F%2Fwww.answers.com%2Ftopic%2Faccounting-information-system
3.0.c What are the benefits by the management, users and customers derived from these AIS?
Answer:
Accounting information systems are useful for companies and businesses wanting to make the accounting process easier by utilizing a computer program or other system that will perform payroll and other functions. These systems, commonly including accounting software, make it easier to compile financial data for use in taxes, payroll, and other bookkeeping requirements. Recording is the first step in these systems that are used by companies including pertinent data such as expenses and profits that are very important to keep on file. After the recording phase, the information will be processed for use. When processed, it is filed in the areas where it is most important. These systems have various groupings or categories to maintain files until they need to be used in the future for whatever reasons. The final step that is part of most software programs is the communication phase. This is the process of actually utilizing the records that have been recorded and processed. Common communications of this data will be used for payroll and tax purposes.
The use of information systems is very important in recording vital financial data that will be used in the future. Major corporations, especially in the retail industry, will keep such data as sales, profits, expenses, and many other items for future use in financial reports. Recording will be done often on a daily basis, if not on a minute-by-minute basis with more complex and detailed accounting software. This is very important also because it will not only be used for daily practices, but will be necessary for tax purposes for the remainder of the year. Also, much of this data has to be kept on file for a number of years, in the event of an audit or other financial issues that may arise. Legal issues can cause severe problems and even end in the destruction of a company. By using computerized accounting information systems to organize and retain this data, companies have a much better chance to survive and succeed.
After the process of recording information with software, the next step that is taken is processing. With most accounting software or programs, there are different files and categories where records can be stored. This filing or storage can be done manually by the individual or group of people who works with the accounting information systems. Programs can also be set to do this automatically as information is entered into the system. Certain criteria can be set up in the program to allow the program to place files and data in the places or areas where it is supposed to go. There will usually be different categories for different data and some of the categories may include accounts payable, accounts receivable, payroll, purchasing, and other information that needs to be recorded and retained.
The final step is the process of communicating the data in the area in which it should be communicated. First, and most importantly, tax records that are recorded and processed can be communicated at the time that filing taxes is done. Some major corporations that are broken down into quarters may utilize this data on a quarterly basis. Other companies, especially smaller businesses, may only be concerned with this information on an annual basis. For large corporations, like major retailers, there are often several smaller stores or branches of the company that must share information through accounting software or systems. This information can help the company forecast sales, profits, loss, and a variety of other things. Many corporations share this information on a daily, weekly, or quarterly basis. The process of communication is probably the most important stage of accounting information systems because this is the point where results are known and records will be put to use.
The use of these systems is a very big part of businesses and corporations. Using resources available through accounting information systems allows major corporations and small businesses to record transactions and other financial information for use in the future. These tools can make the process much smoother, save money for the business, and save a great deal of time. With accounting software, computerized documents will make it easy to file and send documents to the IRS or other interested individuals. Money will be saved by not having to utilize the services of an accountant or CPA. This will also save time because expenses, payroll, and other financial matters can be completed by the owner at the business, with no need to take paperwork or other materials to an accountant for tax and payroll purposes. Taking advantage of this type of system can provide many great benefits to a large or small business. Accounting is a very important part of running and maintaining a business and the success of a company will often heavily rely on the practices and procedures that are used in the bookkeeping efforts of the company.
Reference:
http://www.ask.com/bar?q=+benefits+of+accounting+information+system+to+the+company&page=1&qsrc=2417&ab=1&u=http%3A%2F%2Fwww.christianet.com%2Faccounting%2Faccountinginformationsystems.htm
3.0.d Cite any threat or misuse of these AIS by a specific company. How were the threats addressed? What were the damages?
Answer:
Threats to Accounting Information Systems
Threats to accounting information systems come from a variety of sources. If ignored, they can destroy the relevance and reliability of financial information, leading to poor decisions by various stakeholders. (For specific examples, the Sidebar lists the top 10 concerns identified by a 2006 AICPA survey.)
At the point of data collection, it is important to establish security controls that ensure that transaction or event data are valid, complete, and free from material errors. Masquerading (pretending to be an authorized user) and piggybacking (tapping into telecommunications lines) are examples of hacker activities that can seriously impact valid data collection.
Threats to accounting information systems can also occur during the data processing phase. Creating illegal programs, accessing or deleting files, destroying or corrupting a program’s logic through viruses, or altering a program’s logic to cause the application to process data incorrectly all represent threats. Threats to database management might include unauthorized access that allows altering, deleting, corrupting, destroying, or stealing data. The failure to maintain backup files or other retrieval techniques represents a potentially devastating loss of data. Threats to the information generation and reporting phase must also be considered. For example, the theft, misdirection, or misuse of computer output could damage the competitiveness or reputation of the organization.
Advances in information technology and increased use of the Internet require that management, accountants, auditors, and academicians become more knowledgeable and conversant in the design, operation, and control of accounting information systems.
Implications for Management
With the expansion of computer technology, traditional business processes have been restructured and unique internal control techniques are required to address exposure to many new dangers. The responsibility for establishing and maintaining a system of effective internal controls resides with management. Management’s responsibilities include the documentation, testing, and assessment of internal controls, including relevant general IT controls (e.g., program development, program changes, computer operations, and access to programs and data) and appropriate application-level controls designed to ensure that financial information generated from an organization’s information system can be reasonably relied upon
Reference:
http://www.ask.com/bar?q=what+are+the+possible+threats+of++Accounting+Information+System&page=1&qsrc=2417&ab=1&u=http%3A%2F%2Fwww.nysscpa.org%2Fcpajournal%2F2007%2F507%2Fessentials%2Fp34.htm
DIPAY, IVY MAE J.
Answer:
Coca-cola Corporation
1.0.b Discuss too the impact of this strategic plan on the company's management,
competitors, customers and the company as a whole.
Answer:
MIS are interactive human/machine systems that support decision making for users both in and out of traditional organizational boundaries. These systems are used to support an organization's daily operational activities; current and future tactical decisions; and overall strategic direction. MISs are made up of several major applications including, but not limited to, the financial and human resources systems.
Financial applications make up the heart of an AIS in practice. Modules commonly implemented include: general ledger, payables, procurement/purchasing, receivables, billing, inventory, assets, projects, and budgeting.
Human resource applications make up another major part of modern information systems. Modules commonly integrated with the AIS include: human resources, benefits administration, pension administration, payroll, and time and labor reporting.
It Facilitates planning : MIS improves the quality of plants by providing relevant information for sound decision - making . Due to increase in the size and complexity of organizations, managers have lost personal contact with the scene of operations.
In Minimizes information overload : MIS change the larger amount of data in to summarized form and there by avoids the confusion which may arise when managers are flooded with detailed facts.
MIS Encourages Decentralization : Decentralization of authority is possibly when there is a system for monitoring operations at lower levels. MIS is successfully used for measuring performance and making necessary change in the organizational plans and procedures.
It brings Co ordination : MIS facilities integration of specialized activities by keeping each department aware of the problem and requirements of other departments. It connects all decision centers in the organization .
It makes control easier : MIS serves as a link between managerial planning and control. It improves the ability of management to evaluate and improve performance . The used computers has increased the data processing and storage capabilities and reduced the cost .
MIS assembles, process , stores , Retrieves , evaluates and Disseminates the information.
reference:
http://www.management-hub.com/information-management-advantages.html
2.0.a Evaluate how can this strategic plan be applied to any local company in the Philippines.
Answer:
Management information system is important tools to supports, analyse, delivery and adding reliability to any organization. Also this helps to solve businesses problems. The term MIS is often used to submit to a group of information management methods tied to the support of human decision making, e.g. Decision Support Systems, Expert systems, and Executive information systems.
Reference:
http://www.ask.com/bar?q=What+Is+the+Role+of+MIS&page=1&qsrc=6&ab=0&u=http%3A%2F%2Fwiki.answers.com%2FQ%2FWhat_is_the_role_of_management_information_system_in_an_organisation
2.0.b Discuss too the possible effect on the company.
Answer:
MIS - capabilities
The term 'information system' is a general term for a system that facilitates access to information; however, a ' management information system' refers to integrated data sources and information systems, which meet the particular needs and requirements of planning and decision-making. In an ideal case, the major objectives of MIS are to:
1. reach an understanding of the relevant processes on the basis of the available historic information. This element forms the basis for the development of models, required for forecasting and simulation.
2. provide information on the current situation, especially for early warning purposes, for instance related to issues impacting on food security, water resources or pest and disease status.
3. forecast changes and impacts, either natural or man-made , as an element in vulnerability assessments.
4. forecast the consequences of policy decisions and measures before they are implemented in reality. This implies evaluating options for several given scenarios based on the possible results and predicted consequences, and selecting the most acceptable alternative.
Reference:
http://www.ask.com/bar?q=Objectives+of+MIS&page=1&qsrc=6&ab=2&u=http%3A%2F%2Fknowledge.cta.int%2Fen%2FDossiers%2FS-T-Issues-in-Perspective%2FMIS-for-environmental-monitoring%2FArticles%2FManagement-Information-Systems
3.0.a What is an Accounting Information System?
Answer:
An accounting information system (AIS) 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. The purpose of an AIS is to accumulate data and provide decision makers (investors, creditors, and managers) with information.
While this was previously a paper-based process, most businesses now use accounting software. In an electronic financial accounting system, the steps in the accounting cycle are dependent upon the system itself. For example, some systems allow direct journal posting to the various ledgers and others do not.
Accounting Information Systems (AISs) combine the study and practice of accounting with the design, implementation, and monitoring of information systems. Such systems use modern information technology resources together with traditional accounting controls and methods to provide users the financial information necessary to manage their organizations.
Reference:
http://en.wikipedia.org/wiki/Accounting_information_system
3.0.b Identify or list down different accounting information systems used.
Answer:
Financial reporting starts at the operational levels of the organization, where the transaction processing systems capture important business events such as normal production, purchasing, and selling activities. These events (transactions) are classified and summarized for internal decision making and for external financial reporting.
Cost accounting systems are used in manufacturing and service environments. These allow organizations to track the costs associated with the production of goods and/or performance of services. In addition, the AIS can provide advanced analyses for improved resource allocation and performance tracking.
Management accounting systems are used to allow organizational planning, monitoring, and control for a variety of activities. This allows managerial-level employees to have access to advanced reporting and statistical analysis. The systems can be used to gather information, to develop various scenarios, and to choose an optimal answer among alternative scenarios.
Reference:
http://www.ask.com/bar?q=accounting+information+system&page=1&qsrc=2417&ab=4&u=http%3A%2F%2Fwww.answers.com%2Ftopic%2Faccounting-information-system
3.0.c What are the benefits by the management, users and customers derived from these AIS?
Answer:
Accounting information systems are useful for companies and businesses wanting to make the accounting process easier by utilizing a computer program or other system that will perform payroll and other functions. These systems, commonly including accounting software, make it easier to compile financial data for use in taxes, payroll, and other bookkeeping requirements. Recording is the first step in these systems that are used by companies including pertinent data such as expenses and profits that are very important to keep on file. After the recording phase, the information will be processed for use. When processed, it is filed in the areas where it is most important. These systems have various groupings or categories to maintain files until they need to be used in the future for whatever reasons. The final step that is part of most software programs is the communication phase. This is the process of actually utilizing the records that have been recorded and processed. Common communications of this data will be used for payroll and tax purposes.
The use of information systems is very important in recording vital financial data that will be used in the future. Major corporations, especially in the retail industry, will keep such data as sales, profits, expenses, and many other items for future use in financial reports. Recording will be done often on a daily basis, if not on a minute-by-minute basis with more complex and detailed accounting software. This is very important also because it will not only be used for daily practices, but will be necessary for tax purposes for the remainder of the year. Also, much of this data has to be kept on file for a number of years, in the event of an audit or other financial issues that may arise. Legal issues can cause severe problems and even end in the destruction of a company. By using computerized accounting information systems to organize and retain this data, companies have a much better chance to survive and succeed.
After the process of recording information with software, the next step that is taken is processing. With most accounting software or programs, there are different files and categories where records can be stored. This filing or storage can be done manually by the individual or group of people who works with the accounting information systems. Programs can also be set to do this automatically as information is entered into the system. Certain criteria can be set up in the program to allow the program to place files and data in the places or areas where it is supposed to go. There will usually be different categories for different data and some of the categories may include accounts payable, accounts receivable, payroll, purchasing, and other information that needs to be recorded and retained.
The final step is the process of communicating the data in the area in which it should be communicated. First, and most importantly, tax records that are recorded and processed can be communicated at the time that filing taxes is done. Some major corporations that are broken down into quarters may utilize this data on a quarterly basis. Other companies, especially smaller businesses, may only be concerned with this information on an annual basis. For large corporations, like major retailers, there are often several smaller stores or branches of the company that must share information through accounting software or systems. This information can help the company forecast sales, profits, loss, and a variety of other things. Many corporations share this information on a daily, weekly, or quarterly basis. The process of communication is probably the most important stage of accounting information systems because this is the point where results are known and records will be put to use.
The use of these systems is a very big part of businesses and corporations. Using resources available through accounting information systems allows major corporations and small businesses to record transactions and other financial information for use in the future. These tools can make the process much smoother, save money for the business, and save a great deal of time. With accounting software, computerized documents will make it easy to file and send documents to the IRS or other interested individuals. Money will be saved by not having to utilize the services of an accountant or CPA. This will also save time because expenses, payroll, and other financial matters can be completed by the owner at the business, with no need to take paperwork or other materials to an accountant for tax and payroll purposes. Taking advantage of this type of system can provide many great benefits to a large or small business. Accounting is a very important part of running and maintaining a business and the success of a company will often heavily rely on the practices and procedures that are used in the bookkeeping efforts of the company.
Reference:
http://www.ask.com/bar?q=+benefits+of+accounting+information+system+to+the+company&page=1&qsrc=2417&ab=1&u=http%3A%2F%2Fwww.christianet.com%2Faccounting%2Faccountinginformationsystems.htm
3.0.d Cite any threat or misuse of these AIS by a specific company. How were the threats addressed? What were the damages?
Answer:
Threats to Accounting Information Systems
Threats to accounting information systems come from a variety of sources. If ignored, they can destroy the relevance and reliability of financial information, leading to poor decisions by various stakeholders. (For specific examples, the Sidebar lists the top 10 concerns identified by a 2006 AICPA survey.)
At the point of data collection, it is important to establish security controls that ensure that transaction or event data are valid, complete, and free from material errors. Masquerading (pretending to be an authorized user) and piggybacking (tapping into telecommunications lines) are examples of hacker activities that can seriously impact valid data collection.
Threats to accounting information systems can also occur during the data processing phase. Creating illegal programs, accessing or deleting files, destroying or corrupting a program’s logic through viruses, or altering a program’s logic to cause the application to process data incorrectly all represent threats. Threats to database management might include unauthorized access that allows altering, deleting, corrupting, destroying, or stealing data. The failure to maintain backup files or other retrieval techniques represents a potentially devastating loss of data. Threats to the information generation and reporting phase must also be considered. For example, the theft, misdirection, or misuse of computer output could damage the competitiveness or reputation of the organization.
Advances in information technology and increased use of the Internet require that management, accountants, auditors, and academicians become more knowledgeable and conversant in the design, operation, and control of accounting information systems.
Implications for Management
With the expansion of computer technology, traditional business processes have been restructured and unique internal control techniques are required to address exposure to many new dangers. The responsibility for establishing and maintaining a system of effective internal controls resides with management. Management’s responsibilities include the documentation, testing, and assessment of internal controls, including relevant general IT controls (e.g., program development, program changes, computer operations, and access to programs and data) and appropriate application-level controls designed to ensure that financial information generated from an organization’s information system can be reasonably relied upon
Reference:
http://www.ask.com/bar?q=what+are+the+possible+threats+of++Accounting+Information+System&page=1&qsrc=2417&ab=1&u=http%3A%2F%2Fwww.nysscpa.org%2Fcpajournal%2F2007%2F507%2Fessentials%2Fp34.htm
DIPAY, IVY MAE J.
Tuesday, May 12, 2009
Final Question # 1
For those who are working, interview your IT in-charge and ask him/her to describe the computer database systems used in the company. Write your answer in 1-2 paragraphs. Further, ask also the benefits and/or disadvantages derived from these database systems.
The computer database system that Ramon Magsaysay Memorial Colleges one is the enrollement system.This system helps a lot to the employees as well as to the students.The enrollment system provides the reliable information regarding the subjects, students profile and many more.
the advantage of this system is it can easily be identify the information that must be needed in order to be enrolled.And those information well be viewed by the authorized person involved in the institution.
The computer database system that Ramon Magsaysay Memorial Colleges one is the enrollement system.This system helps a lot to the employees as well as to the students.The enrollment system provides the reliable information regarding the subjects, students profile and many more.
the advantage of this system is it can easily be identify the information that must be needed in order to be enrolled.And those information well be viewed by the authorized person involved in the institution.
Monday, May 11, 2009
MIdterm Quetion # 3
1. Identify the benefits and disadvantages of MNC's.
Answer:
Benefits of Multinational Corporation
1. Cost of factory lease, space and land use.
2. Skilled workers available, educated and capable, and lower paid compared with other locations.
3. Infrastructure, such as roads, transportation, and communication.
4. Supporting industries, sub-contractors, components and raw material suppliers available.
5. Productivity of workforce.
6. Security and safety.
7. Political stability and strong Law enforcements.
8. Tax incentives, rebates and stable currencies.
9. Reliable supply of raw material, available and at reasonable price.
10. Reliable Power supply, as little downtime as possible, and ideal running time
11. Little or no restrictions on foreign investments.
12. Nearer to the source of material, resources and sales outlets.
The adverse effects of MNCs
A.On the home country:
1.Loss of jobs.
2.Loss of tax revenue.
3.Flexibility of operation is reduced in a foreign political system and thus causes instability.
4.Competitive advantage of multinationals over domestic firms.
B.On the host country:
1.Remittance of dividends and profits that can result in a net outflow of capital
2.MNCs engage in anticompetitive activities such as formation of cartels and dumping..
3.MNCs offer higher wages to its employees in the host countries,which is much more than any other domestic firm.
4.Obsolete technology may be used in the host country.
2. Identify one MNC company and describe its operation.
Answer:
Corporation that has production facilities or other fixed assets in at least one foreign country and makes its major management decisions in a global context. In marketing, production, research and development, and labor relations, its decisions must be made in terms of host-country customs and traditions. In finance, many of its problems have no domestic counterpart-the payment of dividends in another currency, for example, or the need to shelter working capital from the risk of devaluation, or the choices between owning and licensing. Economic and legal questions must be dealt with in drastically different ways. In addition to foreign exchange risks and the special business risks of operating in unfamiliar environments, there is the specter of political risk-the risk that sovereign governments may interfere with operations or terminate them altogether.
A multinational corporation (MNC) or transnational corporation (TNC), also called multinational enterprise (MNE)[1], is a corporation or enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation.
The first modern MNC is generally thought to be the Dutch East India Company, established in 1602. Very large multinationals have budgets that exceed some national GDPs. Multinational corporations can have a powerful influence in local economies as well as the world economy and play an important role in international relations and globalization.
3. Describe how the parent control/coordinates with its subsidiaries in other countries or region.
Answer:
"The whole is more than the sum of its parts." This famous Aristotle quote serves as a strategic imperative for multinational corporations (MNCs) because the corporate headquarters must ensure that its business units are collectively more successful than if they were acting individually. To create additional value through parenting advantage, a corporate headquarters must clearly define its role and strategic priorities to optimize the competitive advantage that lies within its global network of business units and people.
An MNC realizes parenting advantage by global scale and scope efficiencies, regional differences (e.g., raw material prices, customer/market requirements, labor costs, local knowledge), global risk diversification, or leveraging global learning and innovation within its international organization. If an MNC pursues all these objectives simultaneously, we talk about a transnational strategy.
Transnational strategies seldom fail for lack of ideas or strategic content but because of an unstructured or completely inflexible strategy process that doesn't:
* Consolidate strategic ideas,
* Synchronize or align strategies of different organizational units, and
* Give proper consideration to consensus and commitment among key decision makers.
Finally, strategy refinement and execution represents a balance between creativity and analysis. Analytical studies and evaluations should support the creative process. If the entire process is too unstructured, then the MNC runs the risk of missing essential considerations. But if the process is overly structured, then truly creative ideas are suppressed, thus compromising the core of successful strategies.
Today, the combination of the strategy map, balanced scorecard (BSC), and strategic action program (strap) has become a standard within the strategy process. Yet it's hard to find much information on applying these integrated concepts to the strategic alignment processes among strategic business units (SBUs), global functions or services, and regions within the MNC's often complex organizational structure. Henkel Corporation is a $13 billion German group in home care, cosmetics, and consumer/craftsman/industrial adhesives whose product portfolio includes Dial[R] soaps, Purex[R] laundry detergents, Loctite[R] super glues, Duck[R] tapes, and L.A. LOOKS hair gels. The group's adhesives division has successfully implemented and synchronized strategy maps, BSCs, and straps across the corporate level, three SBUs, supply chain, operations, R&D, international sales, and nearly 30 regions. Whereas strategy maps helped clarify, describe, and--most importantly--align strategic objectives of these different units, BSCs and straps ensured strategic control and execution. Henkel's annual employee survey clearly shows the degree of buy-in from the individual employee level. After the strategy map and BSC implementation, Henkel's adhesives division improved on the already excellent results of previous years with top marks in "organizational learning," "vision," "strategic direction and intent," and "agreement."
4. How is IT maximized or used by this MNC?
Answer:
Information TEchnology used by Multinational COrporation by easily connected to the customers and know directly their needs and wants.
5. WHat were the weaknesses/problems encountered by this MNC from its environment and global setup?
Answer:
Problems
Control is divided. The venture serves "two masters"
Welfare Effects
The new venture increases production, lowers price to consumers.
The new business is able to enter the market that neither parent could have entered singly.
Cost reductions (otherwise, no joint ventures will be formed) increased market power not necessarily good.
References:
1. http://www.ask.com/bar?q=benefits+of+multinational+corporation&page=1&qsrc=0&ab=1&u=http%3A%2F%2Fresources.alibaba.com%2Ftopic%2F39260%2FThe_Benefits_of_Multinational_Corporations.htm
2. http://www.ask.com/bar?q=Definition+of+Multinational+Corporation&page=1&qsrc=6&ab=2&u=http%3A%2F%2Fen.mimi.hu%2Fbusiness%2Fmultinational_corporation.html
3.http://www.allbusiness.com/management/benchmarking-strategic-planning/852560-1.html
5. http://www.ask.com/bar?q=what+is+the+main+problems+of+multinational+corporation&page=1&qsrc=2417&ab=2&u=http%3A%2F%2Fwww.econ.iastate.edu%2Fclasses%2Fecon355%2Fchoi%2Fmnc.htm
DIPAY, IVY MAE J.
Answer:
Benefits of Multinational Corporation
1. Cost of factory lease, space and land use.
2. Skilled workers available, educated and capable, and lower paid compared with other locations.
3. Infrastructure, such as roads, transportation, and communication.
4. Supporting industries, sub-contractors, components and raw material suppliers available.
5. Productivity of workforce.
6. Security and safety.
7. Political stability and strong Law enforcements.
8. Tax incentives, rebates and stable currencies.
9. Reliable supply of raw material, available and at reasonable price.
10. Reliable Power supply, as little downtime as possible, and ideal running time
11. Little or no restrictions on foreign investments.
12. Nearer to the source of material, resources and sales outlets.
The adverse effects of MNCs
A.On the home country:
1.Loss of jobs.
2.Loss of tax revenue.
3.Flexibility of operation is reduced in a foreign political system and thus causes instability.
4.Competitive advantage of multinationals over domestic firms.
B.On the host country:
1.Remittance of dividends and profits that can result in a net outflow of capital
2.MNCs engage in anticompetitive activities such as formation of cartels and dumping..
3.MNCs offer higher wages to its employees in the host countries,which is much more than any other domestic firm.
4.Obsolete technology may be used in the host country.
2. Identify one MNC company and describe its operation.
Answer:
Corporation that has production facilities or other fixed assets in at least one foreign country and makes its major management decisions in a global context. In marketing, production, research and development, and labor relations, its decisions must be made in terms of host-country customs and traditions. In finance, many of its problems have no domestic counterpart-the payment of dividends in another currency, for example, or the need to shelter working capital from the risk of devaluation, or the choices between owning and licensing. Economic and legal questions must be dealt with in drastically different ways. In addition to foreign exchange risks and the special business risks of operating in unfamiliar environments, there is the specter of political risk-the risk that sovereign governments may interfere with operations or terminate them altogether.
A multinational corporation (MNC) or transnational corporation (TNC), also called multinational enterprise (MNE)[1], is a corporation or enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation.
The first modern MNC is generally thought to be the Dutch East India Company, established in 1602. Very large multinationals have budgets that exceed some national GDPs. Multinational corporations can have a powerful influence in local economies as well as the world economy and play an important role in international relations and globalization.
3. Describe how the parent control/coordinates with its subsidiaries in other countries or region.
Answer:
"The whole is more than the sum of its parts." This famous Aristotle quote serves as a strategic imperative for multinational corporations (MNCs) because the corporate headquarters must ensure that its business units are collectively more successful than if they were acting individually. To create additional value through parenting advantage, a corporate headquarters must clearly define its role and strategic priorities to optimize the competitive advantage that lies within its global network of business units and people.
An MNC realizes parenting advantage by global scale and scope efficiencies, regional differences (e.g., raw material prices, customer/market requirements, labor costs, local knowledge), global risk diversification, or leveraging global learning and innovation within its international organization. If an MNC pursues all these objectives simultaneously, we talk about a transnational strategy.
Transnational strategies seldom fail for lack of ideas or strategic content but because of an unstructured or completely inflexible strategy process that doesn't:
* Consolidate strategic ideas,
* Synchronize or align strategies of different organizational units, and
* Give proper consideration to consensus and commitment among key decision makers.
Finally, strategy refinement and execution represents a balance between creativity and analysis. Analytical studies and evaluations should support the creative process. If the entire process is too unstructured, then the MNC runs the risk of missing essential considerations. But if the process is overly structured, then truly creative ideas are suppressed, thus compromising the core of successful strategies.
Today, the combination of the strategy map, balanced scorecard (BSC), and strategic action program (strap) has become a standard within the strategy process. Yet it's hard to find much information on applying these integrated concepts to the strategic alignment processes among strategic business units (SBUs), global functions or services, and regions within the MNC's often complex organizational structure. Henkel Corporation is a $13 billion German group in home care, cosmetics, and consumer/craftsman/industrial adhesives whose product portfolio includes Dial[R] soaps, Purex[R] laundry detergents, Loctite[R] super glues, Duck[R] tapes, and L.A. LOOKS hair gels. The group's adhesives division has successfully implemented and synchronized strategy maps, BSCs, and straps across the corporate level, three SBUs, supply chain, operations, R&D, international sales, and nearly 30 regions. Whereas strategy maps helped clarify, describe, and--most importantly--align strategic objectives of these different units, BSCs and straps ensured strategic control and execution. Henkel's annual employee survey clearly shows the degree of buy-in from the individual employee level. After the strategy map and BSC implementation, Henkel's adhesives division improved on the already excellent results of previous years with top marks in "organizational learning," "vision," "strategic direction and intent," and "agreement."
4. How is IT maximized or used by this MNC?
Answer:
Information TEchnology used by Multinational COrporation by easily connected to the customers and know directly their needs and wants.
5. WHat were the weaknesses/problems encountered by this MNC from its environment and global setup?
Answer:
Problems
Control is divided. The venture serves "two masters"
Welfare Effects
The new venture increases production, lowers price to consumers.
The new business is able to enter the market that neither parent could have entered singly.
Cost reductions (otherwise, no joint ventures will be formed) increased market power not necessarily good.
References:
1. http://www.ask.com/bar?q=benefits+of+multinational+corporation&page=1&qsrc=0&ab=1&u=http%3A%2F%2Fresources.alibaba.com%2Ftopic%2F39260%2FThe_Benefits_of_Multinational_Corporations.htm
2. http://www.ask.com/bar?q=Definition+of+Multinational+Corporation&page=1&qsrc=6&ab=2&u=http%3A%2F%2Fen.mimi.hu%2Fbusiness%2Fmultinational_corporation.html
3.http://www.allbusiness.com/management/benchmarking-strategic-planning/852560-1.html
5. http://www.ask.com/bar?q=what+is+the+main+problems+of+multinational+corporation&page=1&qsrc=2417&ab=2&u=http%3A%2F%2Fwww.econ.iastate.edu%2Fclasses%2Fecon355%2Fchoi%2Fmnc.htm
DIPAY, IVY MAE J.
Sunday, May 10, 2009
Midterm Question # 2
1. Research a Philippine company and international company that have employed e-commerce
Answer:
Philippine Airlines
Amadeus Air China's
2. Describe how e-commerce operate in this companies
Answer:
Philippine Airlines -PAL is using the e-commerce for them to provide the services of the company, by using e-commerce the customers can easily access through internet.
Amadeus Air China's - Amadeus is the chosen technology partner for providers, sellers, and buyers of travel. The company provides distribution, IT and point-of-sale solutions to help its customers adapt, grow and succeed in the fast changing travel industry. Customer groups include travel providers (airlines, hotels, car rental companies, railway companies, ferry lines, cruise lines, insurance companies and tour operators), travel sellers (travel agencies) and travel buyers (corporations and travelers). Solutions are grouped in four solution categories - Distribution & Content, Sales & e-Commerce, Business Management and Services & Consulting.
Amadeus has central sites in Madrid (corporate headquarters & marketing), Nice (development) and Erding (Operations - data processing centre) and regional offices in Miami, Buenos Aires and Bangkok. Amadeus maintains customer operations in 76 countries covering more than 215 markets. Amadeus employs over 7,800 employees worldwide, representing 95 nationalities.
3. identify the benefits constrains derive by this companies from e-commerce
Answer:
Basic Benefits of eBusiness eCommerce
o increase sales - this is the first thing that people consider
when dealing w e-commerce
o decreasing costs
o increase profits
o understanding that profits is not the same as sales
o Expands the size of the market from regional to national or national to international
o Contract the market
o reach a narrow market
o target market segmentation allows you to focus on a more
select group of customers
o and therefore have a competitive advantages in satisfying them
Decreasing costs
o costs of creating the product
o marketing
o of promotional material
o costs of distribution
eg. Netscape allowing you to download instead of waiting to get the CD by mail
o costs of processing (orders from the customers)
repeat activities and information processing
of handling customer phone calls
of handling sales inquiries
determine product availability (inventory management)
o costs of storing information
o lowers telecommunication costs
Provide price quotes
- with a web site, you can have the prices listed, and change them
- you simply edit the web page
- in a printed catalogue you are stuck with the expense of printing a new version if you need to change many of the prices'
Constrain of E-commerce
Catalog Inflexibility
The catalog needs to regenerate every time when there are some new information or items to add in.
High Marketing / Advertising Expenses
Reduced marketing/advertising expenses, compete on equal footing with much bigger companies; easily compete on quality, price, and availability
Limited Market Place
Normally, customer will only locally and limited to certain area.
High Sale Cycle
Usually, a lot of phone calls and mailings are needed.
Higher Cost of Doing Business
Cost regarding inventory, employees, purchasing costs, and order-processing costs associated with faxing, phone calls, and data entry, and even physical stores. Subsequently, increase transaction costs.
May Require A Middlemen
Some sales or transaction may taking part indirectly or gone through third party to your customers.
Inefficient Business Administration
Store inventory levels, shipping and receiving logs, and other business administration tasks might need to be categorized and updated manually in and done only when have time. This cause the information might not the latest or updated.
Need to employ number of staff
Need staff who gives customer service and sales support
References:
2. http://www.ask.com/bar?q=international+airline+that+uses+e-commerce&page=1&qsrc=2417&ab=5&u=http%3A%2F%2Fwww.travelindustrywire.com%2Farticle33376.html
3.http://www.isos.com.my/ecommerce/disadvantages.htm
http://www.witiger.com/ecommerce/benefits-limitations.htm
DIPAY, IVY MAE
Answer:
Philippine Airlines
Amadeus Air China's
2. Describe how e-commerce operate in this companies
Answer:
Philippine Airlines -PAL is using the e-commerce for them to provide the services of the company, by using e-commerce the customers can easily access through internet.
Amadeus Air China's - Amadeus is the chosen technology partner for providers, sellers, and buyers of travel. The company provides distribution, IT and point-of-sale solutions to help its customers adapt, grow and succeed in the fast changing travel industry. Customer groups include travel providers (airlines, hotels, car rental companies, railway companies, ferry lines, cruise lines, insurance companies and tour operators), travel sellers (travel agencies) and travel buyers (corporations and travelers). Solutions are grouped in four solution categories - Distribution & Content, Sales & e-Commerce, Business Management and Services & Consulting.
Amadeus has central sites in Madrid (corporate headquarters & marketing), Nice (development) and Erding (Operations - data processing centre) and regional offices in Miami, Buenos Aires and Bangkok. Amadeus maintains customer operations in 76 countries covering more than 215 markets. Amadeus employs over 7,800 employees worldwide, representing 95 nationalities.
3. identify the benefits constrains derive by this companies from e-commerce
Answer:
Basic Benefits of eBusiness eCommerce
o increase sales - this is the first thing that people consider
when dealing w e-commerce
o decreasing costs
o increase profits
o understanding that profits is not the same as sales
o Expands the size of the market from regional to national or national to international
o Contract the market
o reach a narrow market
o target market segmentation allows you to focus on a more
select group of customers
o and therefore have a competitive advantages in satisfying them
Decreasing costs
o costs of creating the product
o marketing
o of promotional material
o costs of distribution
eg. Netscape allowing you to download instead of waiting to get the CD by mail
o costs of processing (orders from the customers)
repeat activities and information processing
of handling customer phone calls
of handling sales inquiries
determine product availability (inventory management)
o costs of storing information
o lowers telecommunication costs
Provide price quotes
- with a web site, you can have the prices listed, and change them
- you simply edit the web page
- in a printed catalogue you are stuck with the expense of printing a new version if you need to change many of the prices'
Constrain of E-commerce
Catalog Inflexibility
The catalog needs to regenerate every time when there are some new information or items to add in.
High Marketing / Advertising Expenses
Reduced marketing/advertising expenses, compete on equal footing with much bigger companies; easily compete on quality, price, and availability
Limited Market Place
Normally, customer will only locally and limited to certain area.
High Sale Cycle
Usually, a lot of phone calls and mailings are needed.
Higher Cost of Doing Business
Cost regarding inventory, employees, purchasing costs, and order-processing costs associated with faxing, phone calls, and data entry, and even physical stores. Subsequently, increase transaction costs.
May Require A Middlemen
Some sales or transaction may taking part indirectly or gone through third party to your customers.
Inefficient Business Administration
Store inventory levels, shipping and receiving logs, and other business administration tasks might need to be categorized and updated manually in and done only when have time. This cause the information might not the latest or updated.
Need to employ number of staff
Need staff who gives customer service and sales support
References:
2. http://www.ask.com/bar?q=international+airline+that+uses+e-commerce&page=1&qsrc=2417&ab=5&u=http%3A%2F%2Fwww.travelindustrywire.com%2Farticle33376.html
3.http://www.isos.com.my/ecommerce/disadvantages.htm
http://www.witiger.com/ecommerce/benefits-limitations.htm
DIPAY, IVY MAE
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