Infomation Systems
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Information Systems and Software Applications
Bobby Nutt
GEN/200
4-5-10
Lauri Figueroa
Information Systems and Software Applications
Today organizations can choose from many different types of information systems and software application. In the following, I will provide an overview of software applications and information systems available for the accounting, finance, and management organizational departments within a company.
Accounting
Accounting application software performs the organizational accounting functions. Each business transaction from hiring an employee to producing payroll must be captured and recorded. Data and information system are important and can be considered the lifeblood for accounting. According to our week one readings we can see that one of accountant’s main tools is the transaction processing which is now web based and can capture, organize, and analyze data and information. Transaction such as billing customers, preparing payrolls, and purchasing provide data to the accounting department, which the accountants must track. Accounting departments must share the information and data they gather with other departments, especially in larger companies.
Finance
Financial application software provides information about the firm’s financial status to interested parties inside and outside the company. Financial software helps to predict cash flow and future economic status of the company. Information systems in the finance department makes the modern world financial possible. A finance department uses the information systems to monitor worldwide markets quickly and to provide or predict cash flow analysis. They also use decision support system to manage the company’s portfolio. Financial managers also use business intelligence software to analyze information in data warehouse. Large companies use information system to provide information to the other department within the corporation....
Bobby Nutt
GEN/200
4-5-10
Lauri Figueroa
Information Systems and Software Applications
Today organizations can choose from many different types of information systems and software application. In the following, I will provide an overview of software applications and information systems available for the accounting, finance, and management organizational departments within a company.
Accounting
Accounting application software performs the organizational accounting functions. Each business transaction from hiring an employee to producing payroll must be captured and recorded. Data and information system are important and can be considered the lifeblood for accounting. According to our week one readings we can see that one of accountant’s main tools is the transaction processing which is now web based and can capture, organize, and analyze data and information. Transaction such as billing customers, preparing payrolls, and purchasing provide data to the accounting department, which the accountants must track. Accounting departments must share the information and data they gather with other departments, especially in larger companies.
Finance
Financial application software provides information about the firm’s financial status to interested parties inside and outside the company. Financial software helps to predict cash flow and future economic status of the company. Information systems in the finance department makes the modern world financial possible. A finance department uses the information systems to monitor worldwide markets quickly and to provide or predict cash flow analysis. They also use decision support system to manage the company’s portfolio. Financial managers also use business intelligence software to analyze information in data warehouse. Large companies use information system to provide information to the other department within the corporation....