final 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: Shin Kong Life
The Strategy Creation of a Business Management Information System that empowers employees to access and analyze current business information using Web-based reporting tools.
The Results Managers can now handle their own reporting and business intelligence needs, with little or no help from the IT department. More than 200 reports for almost 20,000 employees are quickly accessible via the internet, reducing costs by 50 percent.
Shin Kong Life Insurance Company (SKL) remains at the top of its field for two simple reasons: relentless innovation and a commitment to superior customer service. In the highly competitive insurance industry, data analytics play an important role in the decisions SKL managers make – often affecting the entire enterprise business strategy. To ensure managers always have complete, up-to-date information, SKL relies on business intelligence and reporting technology from Information Builders.

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:

the impact are so far so good because of their strategic plan they transact easy to their employee in different branch and their customers my using management information system.

Due to its heterogeneous computing environment, fulfilling report requests was a tedious process. Insurance professionals at each of SKL's 466 branches submitted daily transactions to the mainframe computer at headquarters for consolidation. Then, Wang and others on the Information Technology (IT) staff wrote COBOL programs to create detailed reports for branch managers and analysts. User requirements varied and many different reports were needed for each branch. In addition, the reports were only available in hard copy format, requiring managers to peruse large reports in an attempt to find relevant information. "Many of our managers wanted the information to be available on their workstations so they could perform their own analytic s.

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

ans:

to apply this strategic plan to our local company in the philippines by using management information system in terms of their promotion and transacting to the customers and giving fast services to the consumers for their satisfaction so that your company achieve their goals to become profitable.

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

ans:

the possible effect on the company in depends on the situation for example if the company has a problem in their financial or they has a problem with their employee, in addition the posible effect, one if your business have a potential to progress or your strategy are very effective to attract your customer or else your strategy are not effective that cause the failure of the operation of your business.

3.0.a What is an Accounting Information System?

ans:

AISs cover all business functions from backbone accounting transaction processing systems to sophisticated financial management planning and processing systems.

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.

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

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 to make decision While this was previously a paper-based process, most modern businesses now use accounting software
on System personnel need knowledge of database management and programming language such as C, C++, JAVA and SQL as all software is basically built from platform or database.In an Electronic Financial Accounting system, the steps in the accounting cycle are dependent upon the system itself, which in turn are developed by programmers. For example, some systems allow direct journal posting to the various ledgers and others do not.

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

the benefits by the management and users and customer derived from these Accounting Information Systems provide efficient delivery of information needed to perform necessary accounting work and to assist in delivery of accurate and informative data to users, especially those who are not familiar with the accounting and financial reporting areas itself.

ANS:
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:

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.





reference
http://www.informationbuilders.com/applications/shin_kong_life.html