Improving Transactional Processing in AIS

 Improving Transactional Processing in AIS Research Paper example
Masters
Research Paper
Finance & Accounting
Pages 6 (1506 words)
Download 0
Transactional Processes (Author’s name) (Institutional Affiliation) Innovative Technologies a) Compliance Checking Systems A compliance check is used to identify departments or processes that have failed or are failing to adhere to company rules, regulations and policies (Gelinas, 2010)…

Introduction

Purposes of Compliance Checks/Checking Systems a) Enforcement: to enforce company administrative policies, criminal statutes or both. b) Educational: to warn, educate and identify processes, departments or employees that are not meeting required standards. Implementing Compliance Checks/Checking Systems Employees, departments and various are made aware that compliance checks will be conducted at different times annually. They are also informed about potential penalties for lagging behind in the uplifting and maintenance of accounting regulations, standards and requirements (Williams & Spaul, 2011). If employees and personnel keep flaunting or falling short of accounting standards, the company can issue citations either to departments or specific people. These citations stipulate actions that may be taken to address such matters and how they will be addressed so that normal operations are maintained. Importance of Compliance Checking Systems In many companies, maintaining relevant accounting standards is a huge challenge. Employees and company officials may find it easier to come up with compliance checks than to maintain them. ...
Download paper
Not exactly what you need?

Related papers

Group work is very essential in organisations for improving organisational effectiveness and competitive advantage
Most theorists attribute the failure of group work to poor interpersonal relationships leading to lack of cohesion which is essential in any team. Interpersonal relations are needed in decision making, resolving conflicts, task assignments and other processes. The purpose of this work is to reflect upon my own group work experience by focusing on the interpersonal relationships that existed in the…
How is the AIS (automatic identification system) effective in Kuwait coast guard operation?
These systems, particularly the AIS Class A, have provided a wide range of benefits such as effective vessel identification and the provision of accurate information to national security forces and the Vessel Traffic Management Systems, or VTMS. Moreover, the application of ship-to-ship AIS has become an increasingly valuable option for mariners to be used as an efficient instrument that will…
AIS Attacks and Failures: Who to Blame
It provides various benefits for the managers and owners requiring financial transactions, including improving the workflow, improving the processes, increasing flexibility, and providing assistance in decision-making (Romney and Steinbart, 2011). However, AIS has disadvantages, including difficulties in learning the system, re-evaluation, and loss of information. Loss of information either…
Ryan Air: Transactional, Operational and Translational Exposures
Significant Hedging in relation to Debt Obligations Owing to the debt obligations which are related to the acquisition of the new aircrafts by the company, there have been considerable derivative transactions being carried out by the company in order to hedge its financial obligations. Such derivative transactions have exposed the company to greater market risks and can pose unfavourable effects…
Replacing a Legacy AIS Application Case Study
Like any other system AIS is also a system consisting of different components which are interrelated to each other. Each of the sub-systems that make up the whole system performs several specific tasks which get integrated to be able to perform the ultimate task. Different components of AIS include, People, Procedures, Software, Data, and infrastructure for information technology. This study is…
It is often claimed that the process of computerising accounting information systems (AIS) and telecommunicating accounting info
But with the concept of globalization, the entire landscape of the accounting system in business changed. Every organization computerised their accounting system that reduced the work time considerably. Today almost every Multi National Company relies on Accounting Information system and telecommunicating of accounting information for running the business successfully and reaching clients all over…
Rotation of Auditors Improving Quality of Audits
Being faced by many of the threats the financial statements are deemed to provide true and fair view and audit of the financial statements depicts that whether the information provided in the financial statements are up to the standards upon which the financial statements are to be presented and issued. The quality of the audit is crucial for the integrity and reliability of the information…