Professional Documents
Culture Documents
Presented By
Souvik,vikash,Raunaq vikash Pandey Ritesh,Kamal,Dhurjoti, Amit
Introduction
Financial MIS Provides financial information to all financial managers within an organization. It integrates financial & operational information from multiple sources. Financial MIS eases analysis by providing fast financial data. It enables financial analysis from different aspects; time, product, customer. With Financial MIS, one can analyze historical and current data. Also one can monitor use of funds. Few examples or functions of Financial MIS are Costing, P&L reporting, Auditing, Funds management, etc.
Todays Plan
Overview
Workshop
Workshop
A subsystem of computer based information system that provides information to persons and groups both inside and outside the firm concerning the firms financial matters. Information is provided in form of periodic reports, special reports, results of mathematical simulations, electronic communications, and the advice of expert systems.
Important financial information collected from almost every TPS - payroll, inventory control, order processing, accounts payable, accounts receivable, general ledger.
External sources Annual reports and financial statements of competitors and general news items.
System Concept
External Internal
System Boundary
Organization as a System Consists of functional Subsystems
Each subsystem can be viewed as another system; and consists of its own subsystems
AC
HR
FN
B A
MFG MK
DSS
MIS
TPS
AIS
FNIS
MKIS
HRIS
MFIS
Functional Areas
FNIS Challenges
Other departments and stockholders are the main customers of the FN services FNIS must be integrated with other functional information systems, and must be linked across the organizational hierarchy to enable the Horizontal integration free flow of information
Vertical integration
Data base
etc.
A subsystem of any functional information system that gathers data describing the firms activities, transforms the data into information, and make the information available to users Accounting Information System (AIS) Provides a record of everything of monetary importance that happens in the firm
Annual stockholder reports requires an external auditor to verify the accuracy of accounting records Larger firms have their own staff of internal auditors who perform the same analyses as external auditors but have a broader range of responsibilities With internal audit system, the firms can independently evaluate and influence their operations from a financial standpoint
Financial DSS
Financial MIS
Financial statements Uses and management of funds Financial statistics for control
Financial ES
Internet or Extranet
Business transactions
Customers, Suppliers
managers in making decisions to solve semi-structured problems. Support the managers judgment rather than try to replace it. Improve the managers decision-making effectiveness rather than its efficiency.
Forecasting Models
Components of DSS
Financial Accounting Sales/MKT Production DSS Database Model Base Statistical Forecasting Operational Planning
User Interface
Electronic Spreadsheets
Tool for analysis, planning and modeling. Built-in statistical, mathematical and financial functions. Formulas can be embedded using numbers in the spreadsheet. The implication of changing numbers can immediately be observed and analyzed.
Questions?