Mis Application In Finance 5d57b

MIS IN FINANACE AND ING

BY GROUP - 3

GENERAL USES OF MIS IN FINANCE  MONTHLY S OF TRANASCTIONS CASH FLOW SOURCES & USES OF FUNDS LEDGER & JOURNAL MONTHLY RETURN AND STATEMENT

PROCESSING TRIAL BALANCE & BALANNCE SHEET PAY ROLE ING 

FINANCIAL INFORMATION SYSTEMS (FIS) Financial information is the lifeblood of a business – Enabling ensures an appropriate, cost-effective financial management information system (FMIS) is installed for timely, relevant and accurate information to better business decisions.

Benefits of FIS integrated financial information Flexibility of reporting and additional control over expenditure Less istration required within the businessT ighter views of budgets versus actuals

Databases of internal data

Business transactio ns

Transactio n processing systems

Databases of valid transactio ns for each TPS

Business transactio ns

Databases of external data

Financial MIS

Financial statements

Operationa l databases

Uses and management of funds

Financial DSS

Financial applicatio ns databases

Financial ES

Financial statistics for control

Business transactio ns

Custo mers, Suppl iers

OVERVIEW OF FINANCIAL MIS

Inputs to the Financial Information System  Strategic plan or corporate policies Contains major financial objectives and often projects financial needs. Transaction processing system (TPS) Important financial information collected from almost every TPS - payroll, inventory control, order processing, s payable, s receivable, general ledger. External sources Annual reports and financial statements of competitors and general news items.

Financial MIS Subsystems and Outputs   Financial subsystems Profit/loss and cost systems Auditing Internal auditing External auditing Uses and management of funds



ing Information System(AIS)

 Subsystem of MIS that processes

financial transactions to provide (1) internal reporting to managers for use in planning and controlling current and future operations and for nonroutine decision making; (2) external reporting to outside parties such as to stockholders, creditors, and government agencies.



ing Information System(AIS) • • ing Information System (AIS) combine the study and practice of ing with the design, implementation, and monitoring of information systems. Such systems use modern information technology resources together with traditional ing controls and methods to provide s the financial information necessary to manage their organizations.

AIS Technology  Input -The input devices commonly associated with

AIS include: standard personal computers or workstations running applications; scanning devices for standardized data entry; electronic communication devices for electronic data interchange (EDI) and e-commerce. In addition, many financial systems come "Web-enabled" to allow devices to connect to the World Wide Web.  Process -Basic processing is achieved through computer systems ranging from individual personal computers to large-scale enterprise servers. However, conceptually, the underlying processing model is still the "double-entry" ing system initially introduced in the fifteenth century.  Output -Output devices used include computer displays, impact and nonimpact printers, and electronic communication devices for EDI and ecommerce. The output content may encom almost any type of financial reports from budgets and tax reports to multinational financial

Softwares used in AIS GnuCash · HomeBank · TurboCASH •Microsoft Office ing Express •Banana ing · Flex •Microsoft Dynamics AX •Microsoft Dynamics NAV •Microsoft Dynamics SL •Microsoft Office in Professional •Microsoft Small Business Financials • SAP Business One •

•“Budget” report reflects budget balance available

eForms

Purchase Order, Payables and Budget

•Becoming two (2) distinct forms

–Purchase Order –Agency Payment Voucher –Other minimal changes in the heading section

•View of assets and liabilities •“ Balance” reflects balance available

•View of revenues and expenses for the fiscal year

Organization computing resources  Application Software: Microsoft Office  NOD32 Anti-Virus  Adobe Reader     System Software  Operating System (Windows XP and Linux) for PC’s.  Windows 2003 server for mainframes. •

   Hardware Resources  HP Printers

Dell Mainframes  Coin counters Networking cards •

Currency counter HP Digital Scanners

MysToGO (MATG) - ing and financial information from the SAP BusinessOne financial management system are now directly accessible from Apple iPhone. 

Real time Banking  In many circumstances the primary factor is speed. For example,

when a customer withdraws a sum of money from his or her the transactions are processed and the balance updated as soon as possible, allowing both the bank and customer to keep track of funds. The new transaction is send to LN. The LN enters the HUB where the specified file is accessed. The updates are made entered there and finally the update is done.

•

New Transactio, Updates

LN

HUB

Updated

Online Complains  Standard Chartered bank allows the customer the option of

online complains. The customer submits the online complain which is then processed by Customer Service TPS which is linked by management and after the problem identification it is send to the concerned department.

 Customer Queries

Customer Service TPS

Identify Problem

Send to Concerned Dept.

Opening  This TPS is designed for opening a new in the

bank.  Input: Give bio data, NIC no., income, city name.  Process: Information send to the “virses”.  Output: new opened in the bank.  Virses

Applicant

Identification

Customer Service TPS

A/C Dept. HUB

New A/C Opened

Online Activity  Purpose: Transfer funds with the organization.  Input: Concerned Branch code, city name,

title, amount & the transaction.  Process: The information will send to organization server (HUB).  Output: Transfer of fund to the concerned branch.  Customer

Customer Service

TPS

A/C

Dept

Fund Trnsfr to Concerned Branch HUB

ATM Card  Purpose: Easy with draw of cash.  Input: Give bio data, income summary, company name,

NIC.  Process: NIC no. and bio data send to “virses” which directly linked to NADRA. If information is correct then it is forward to customer service centre.  Output: Issue of credit card. Virses



Applicant

Identification

Customer Service

TPS

A/C Dept. HUB

New A/C Opened

ATM Issued

ICICI BANK  Management MIS  The ICICI Bank Corporate System provides detailed

information (MIS) which can help in controlling expenses. Monthly management reporting is an integral component of the corporate Card offer from ICICI Bank. It gives the management and its employees a complete expense tracking mechanism. It also provides travel discounts, and a reasonable credit period. Thus reducing your working capital requirement. This will reduce the time and cost associated with expense control. The report package provides both  summaries and itemizations of charges and payments. The reports help you;  Streamline expense control  Analyze spending patterns  Forecast future spending •

The Individual Card Member Billing

Statement For convenience we give a one-glance statement that details each individual charge. It shows clearly all purchases, cash advances, applicable finance and service charges and amounts that remain outstanding month-wise. Consolidated Company Statement Useful for monitoring Card usage and payments, the ICICI Bank's Corporate Card system provides you with details of each Card Member's expenditure. It lists the date, place, amount of expenditure, the net amount payable by each Card Member,

Individual Description

Once you nominate your employees to become ICICI Bank's Corporate Card , you can receive reports. These will tell you in a variety of useful ways, how Card are incurring expenses. Your employees simply need to charge expenses and pay back conveniently after receiving their statement. Card will receive a billing statement each month that lists their charges and payment activity.



Reduced istrative Burden  Single Payment instrument. One Card for all your

requirements. The ICICI Bank Corporate Card significantly reduces paperwork involved in processing and paying multiple vendor bills across multiple travelers. It also eliminates the need to set up credit lines with a range of vendors used by your corporation.  Flexibility : You can opt for a billing and payment methodology aligned to your internal ing and reporting procedures.  Multiple Billing & Payment Plan : We have the flexibility of sending bills to individual Card or to a single recipient in your Company. You can also choose to pay ICICI Bank centrally or let individual Card settle their own bills.  Access to single vendor for all your travel related needs : As an ICICI Bank Corporate Card customer, you can access International Travel House Ltd our travel partner, allowing you the convenience and efficiency of dealing with a single quality supplier for all your travel related requirements. •

ICICI bank financial inclusion  Financial Information Network & Operations Ltd  Three key components:  Core banking system provides ing, MIS, reporting

and monitoring facility for all asset and liability products.  Distribution component that enables “offline” data capture from end specific unique, biometric enabled hybrid multi-application Smart Cards.  Credit Bureau component which enables creation of knowledge base ,financial credit worthiness,and credit rating profile of the end .

Custodian Service Report   Equities and Fixed Income Instruments    • Holding Statement

         • Asset Valuation          • Transaction Report          • Bank Statement          • Forthcoming Corporate Actions Report   Derivatives clearing:  • Position Limit utilization Report.          • Margin Movement Report.          • Daily Activity Summary Report (Scrip wise day's trade, open          close position and MTM)          • Scrip wise margin rates Report.

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