1.1 Finance plays a key role in the functioning of any organisation because a steady flow of funds is required to make planned expenditure for delivering products and services and the sale of these products and services generates the necessary funds to make a profit. Any activity undertaken by any of the other departments without proper financial consideration can have a detrimental effect. For instance, if the sales team decides to offer extended credit or discounts to increase sales, this will
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LESSON 1 INFORMATION SYSTEMS MANAGEMENT Aims and outcomes Aims The aim of this session is to introduce and re-affirm your basic understanding of data, information and information systems. The discussions will lead you to develop an understanding of the concept of an organisation as a system. Further, you will examine the flows of decision-making and the sources of data used to make those decisions. Finally, we will consider the types of IS/IT required to support organisations at three different
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budgets, standard costs, variance analysis etc. As organisations became more sophisticated, non financial controls were added. These controls included targets such as quality, waste, delivery lead-time, customer satisfaction etc. When other controls, such as those in respect of personnel, information systems, corporate policies, working practices etc. are added, the result is a system of management control, although often the components of the system lead to different behaviors. In his seminal work
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a wide range of people with experience of governance, and of service users and citizens, to produce the Good Governance Standard for Public Services. The Standard presents six principles of good governance that are common to all public service organisations and are intended to help all those with an interest in public governance to assess good governance practice. The Independent Commission for Good Governance in Public Services was established and supported by the Office for Public Management (OPM®)
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Division of Accounting and Finance, Glasgow Caledonian University Business School, Glasgow, Scotland Keywords Scotland, Housing, Financial management, Auditing, Corporate governance Abstract Control self-assessment (CSA) has been discussed as an audit technique, but little practical guidance is available in the UK on the subject. A limited number of public sector organisations have implemented it. This paper describes a case study of CSA implementation in a Scottish Housing Association. The case study
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the cost recording system within an organisation Basic Costing 2 (Level 5 in Scotland) 8 (4 knowledge and 4 skills) Assessment criteria The learner can… 1.1 K 1.2 K 1.3 K 1.4 K 1.5 K 2 Be able to use the cost recording system to record or extract data 2.1 K 2.2 K 2.3 S Explain the nature of an organisation’s business transactions in relation to its accounting systems Explain the purpose and structure of a costing system within an organisation Identify the relationship between the costing and accounting
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Processes and Functions Business processes and functions are very important for every company of their business. Functions are things that the organisation does such as production, sales, marketing, research and billing. Businesses have organised themselves around their functions, and functions divisions fail to recognise that many of the business processes that operate crow that artificial boundaries thus created. Business processes are the way that how to do and achieve the business functions. Business
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Management is essential for the conduct of business activity in an orderly manner. It is a vital function concerned with all aspects of working of an enterprise. Definitions of Management 1. According to George R. Terry, "Management is a distinct process consisting of planning, organising, actuating and controlling, performed to determine and accomplish stated objectives by the use of human beings and other resources". 2. According to Henry Fayol, "To manage is to forecast and to plan, to organise
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Organisation structure Structure relates to a skeletal framework of activities and processes in an organisation and specifies the roles of these in achieving goals and objectives of the organisation. According to (Mullins, 2009), a good structure is highly important due to the fact that decisions on structure are primary strategic decisions which can make or break an organisation. One important aspect of a good structure is the human element. Organisation structure should be designed so as to encourage
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