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QUESTION
Title:
Information Flows
Paper Details
The CEO of your company has requested that you prepare a written presentation to be given at the next board of directors meeting regarding the continuing impact that the information age has on financial accounting. What are some of the ways that financial information will be changed in the way the information is processed, gathered, and communicated because of changing information technology? Please include an abstract.
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| Subject |
Business |
Pages |
3 |
Style |
APA |
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Answer
Information Management
Globally, technology has become an imperative aspect for application across various realms. These include information gathering and storage to its retrieval. This paper provides an analysis of how information can be gathered, processed, stored and retrieved in an organization using technology as well as the associated merits
Information age has become a critical aspect to consider in the current dynamic world. This has involved how the information is collected, processed, stored and retrieved. Organizations are adopting the electronic record system which is easier to capture information and generate crucial reports according to the organization requirements (Laudon & Laudon, 2016). In collecting the information, it will be important for the organization to adopt the software programs which provide a simplified approach for keying in information and automatic recording. The system adopted should be in accordance with certifications such as generally accepted accounting principles (GAAP). The organization should move from the manual and paper based recording approach to one that uses the computers and detection systems. Such a system should be able to generate orders and various statements, automatically tally the amounts, keep up with the latest taxation and provide automatic invoices to the clients.
Besides information recording and production of reports, the organization should adopt a software that stores the data safely and creates the necessary electronic backups. These backups should be secured, safe and regularly stored. This is aimed at preserving the information in case of a situation such as fire, natural disaster, and theft (Galliers & Leidner, 2014). Notably, he backup is dependent on the size of the organization. It is also important for the organization to consider the cloud backup approach which entails managing the information online. Such an approach is effective and convenience although it should be approached with care based on the security concerns of the business and customers.
Conclusively, the application of technology in the information systems in a company applies to the recording processing, storage, and retrieval of data. This is done through software programs that provide reporting services and safe storage of the information.
References
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|
Galliers, R. D., & Leidner, D. E. (Eds.). (2014). Strategic information management: challenges and strategies in managing information systems. Routledge.
Laudon, K. C., & Laudon, J. P. (2016). Management information system. Pearson Education India.
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