Finals Question #2

Finals Question #2

A company may adopt specific computerized database system according to their unique needs after thorough MIS planning. However, it has to be noted that MIS if properly planned, and implemented, benefits can be immeasurable on the other hand, if this is misused, then it may mean information or financial losses and opportunity and resources wasted.

From this, answer the following.

1.0.a Research one international company from the Internet and describe their MIS strategic plan in 1-2 paragraphs.

Ans.Charles Waterfield

Possesses a thorough and practical understanding of all aspects of microenterprise finance and institutional capacity building, gained through over seventeen years of experience in microfinance. Six years as Director of two different start-up microfinance institutions provided close, day-to-day involvement with all issues faced by microfinance institutions; both institutions continue to function as fully sustainable financial institutions. This work formed the foundation for more broadened experience gained over the past twelve years through consulting assignments and management of the global project portfolios of two different international development agencies.

1.0.b Discuss too the impact of this strategic plan on the company's management,
competitors, customers and the company as a whole.

Ans.

Successful small high tech companies do use strategic planning to direct their long term growth and development and their planning processes become more sophisticated as they grow. Companies without strategic planning were led by entrepreneurs who had solely technical skills, the growth of the business was held back and its survival was put at risk by the entrepreneur's lack of strategic awareness.

2.0.a Evaluate how can this strategic plan be applied to any local company in the Philippines.

Ans.

By using this kind of strategy in the philippines they giving a oppurtunity to the customers and also the employees to have a good service.

2.0.b Discuss too the possible effect on the company.

Ans.

The possible effect on the company it will attract more potenial customer's, and they have a great chance to gain more income. and also less failure of the operation on your business.

3.0.a What is an Accounting Information System?

Ans.

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.

3.0.b Identify or list down different accounting information systems used.

Ans.

AIS 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.

3.0.c What are the benefits by the management, users and customers derived from these AIS?

Ans.

The benefits of AIS is to gathered data and information that will help the company's very competitive and very successful.

3.0.d Cite any threat or misuse of these AIS by a specific company. How were the threats addressed? What were the damages?

Ans.

The threats of accounting information system if ignored it will destroy the important documents and relevance information about the financial of the company, and affect the operation of the company.

Mark Ian Menorias