The Importance Of Information Systems In Organizational Finance And Accounting

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The Importance of Information Systems in Organizational Finance and Accounting Information Systems in finance and accounting within organizational design boosts efficiency within the major accounting processes. Technology is a key part of contemporary business and has a major role in modern accounting. Technology improves clerical accuracy while cutting the cost, time, and effort of record keeping through databases. A few small organizations may continue to operate some accounting tasks by hand, but even they have been changed by information technology. There is a definite connection between the use of information systems and changes in organization of contemporary business enterprise, within and across businesses. The up-and-coming organizational paradigm includes corresponding changes in multiple dimensions. The transformation in information systems deserves special attention because both cause and effect of organizational change. This can be exemplified by taking into account two key variables the position of information and the position of policy decisions within the organization. MIS solution of transmitting information is a valuable approach to achieving the needed transfer of information to policy makers for decisions. Linked with the finance department valuable information about future profit or loss is needed to make the important decisions about a company’s future. Information systems alter the organizational structure is affected and becomes optimal. By considering the relationship among incentives, information, and decisions in a united approach will lead to innovative planning and better insights. Successful planning of a progressive business enterprise will call for further focus between study in information systems and finances. In various organizations, the majority of production by sizeable, hierarchically controlled firms are
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