Origins, Definition, Components, Influence, Reasons, Benefits, and Challenges of Management Information Systems In Businesses

Introduction

A management information system (MIS) is a computerized database of financial information organized and programmed in such a way that it produces regular reports on operations for every level of management in a company. It is usually also possible to obtain special reports from the system easily. The main purpose of the MIS is to give managers feedback about their own performance; top management can monitor the company as a whole. Information displayed by the MIS typically shows "actual" data over against "planned" results and results from a year before; thus it measures progress against goals. The MIS receives data from company units and functions. Some of the data are collected automatically from computer-linked check-out counters; others are keyed in at periodic intervals. Routine reports are preprogrammed and run at intervals or on demand while others are obtained using built-in query languages; display functions built into the system are used by managers to check on status at desk-side computers connected to the MIS by networks. Many sophisticated systems also monitor and display the performance of the company's stock.

Impact of Information and Communication Technology on Financial Management

Introduction

With the emergence of Information & Communication Technologies (ICTs) and e-governance the possibility of improvement in efficiency and effectiveness of financial management looks more in comparison to the traditional manual system. The information and communication technology is a centre of expertise in ICT business intelligence, labor market research, policy development and workforce solutions. ICT enables industries to develop and maintain a competitive edge in the global market to practice its services to rejuvenate the innovative trends. ICT refers to a wide range of computerized technologies that enables communication and the electronic capturing, processing, and transmission of information. These technologies include products & service such as desktop

Impact of Electronic banking on customer satisfaction in commercial banks/Money Deposit Banks in Nigeria.

Introduction

Electronic commerce is now thought to hold the promise of a new commercial revolution by offering an inexpensive and direct way to exchange information and to sell or buy products and services. This revolution in the market place has set in motion a revolution in the banking sector for the provision of a payment system that is compatible with the demands of the electronic marketplace.

Electronic-commerce in Nigeria is in an embryonic stage. However, one area of electronic-commerce that has proven successful in Nigeria is electronic banking (Ebanking). The term "electronic banking" or "e-banking" covers both computer and telephone banking. It refers to the use of information and communication technology by banks to provide services and manage customer relationship more quickly and most satisfactorily (Charity-Commission, 2003).

International Monetary Fund and Crisis Of Development In Nigeria

Introduction

Despite efforts evolved in the past to tame the tide of underdevelopment, the post-colonial Nigerian state has continued to be enmeshed in development crisis. Available statistics from the Debt Management Office, Central Bank of Nigeria and National Bureau of Statistics indicate that the country is plunged into deep economic crisis. For instance, the information released by the Debt Management Office shows that while the total debt profile of Nigeria stood at 3.1 billion dollars in 2007, it has risen dramatically to an astronomical level of $5.3 billion in 2014. Similarly, the official reports of the Central Bank of Nigeria indicate that the inflation rate has progressed from 6.9% in 2000, 18.9% in 2001, 14% in 2003, 11.6% in 2008 and 13.7% in 2010. In the same vein, data generated from the National Bureau of Statistics shows that unemployment and poverty rates have witnessed unimaginable growth within the period of the study. As a result, Savas (2007) posited that the Sub-Saharan Africa, which Nigeria is part of, is the only region in the world where the proportion of the poor has been rising over time and where the poor are relatively worse off than their counterparts in other parts of the world. In the same vein, SESRTCIC (2007) observed that the development challenges facing sub-Saharan Africa can be described by variety of poverty and inequality measures through time or in comparison with other nations or regions of the world. He pointed that on the average, 45 percent of the Sub-Saharan Africa’s 726 million people live below the international poverty line of US 1 dollar a day.

Impact of Stock Exchange Market on the Nigerian Economy

Introduction

The achievement of a high sustainable level of economic growth and development has been the main objective of many countries, most especially after the publication of the famous book “an enquiry into the nature and causes of wealth of a nation” by Smith (1776). The search for ways to improve the level of economic growth has encouraged researchers to develop different models and theories in a bid to explain the phenomenon of economic growth. Economists traditionally have looked at factors such as capital, labour and technology as the only factors which matter to the process of economic growth. Mckinnon and Shaw (1973), King and Levine (1993), Beck, Levine and Loayza (2000) among others have argued that stock market development spurs economic growth. On the other hand, Bossone (2000), and Tsuru (2000), Levine (1997) and Gertler (1988) stressed that economic growth can be affected by functions exercised by stock market such as mobilising capital, assisting in the allocation of resources, monitoring managers, and facilitating risk management.

Effects of Theory of Ratio Analysis in an Organisation

Introduction

Ratio, in general, shows a proportional relationship between two different numbers or quantities. It may be a relationship between two amounts that is represented by a pair of numbers showing how much greater one amount is than the other, that is, the ratio of something to something. When undertaken by a business management in the process of Financial Analysis in order to identify the financial strengths and weaknesses of a business entity by establishing the relationship between the balance sheet’s and the income statement’s items, ratios play an important role being used as yardstick for evaluating the Financial position as well as the performance of a business entity. The relationship between two accounting figures, expressed mathematically, is known as a financial ratio.

Effective planning and Financial Management are the keys to running a financially successful business. Ratio analysis is a useful management tool that assists in effective planning and running a financially successful business. Ratios, on the one hand, help greatly in summarizing the large amount of financial data by making the interpretation of financial statements easier; they enable to make qualitative judgment about a business firm’s financial performance on the other. It’s through the ratio analysis that the liquidity, solvency, profitability and the activity of a business entity may be identified in an accurate manner.

Value Relevance Of Accounting Information And Share Prices Of Listed Consumer Goods Firms In Nigeria

Cost Concepts and Classifications In Cost Accounting

Cost Concepts and Classification In Cost Accounting

Cost Accounting like other management sciences has principles or concepts that guide the preparation of cost statement or information such rules trough not statutory in nature are generally accepted and applied in the preparation of cost information.

The rules include:

Nature, Elements and Classification of Cost

Types of Cost

Cost could either be fixed, variable or semi-variable

               i.          Fixed Cost: is any cost or expenses that are fixed irrespective of the level of activities attained. Fixed cost per unit decrease as output increases. Examples are rent of factory building, managerial salary etc.

ii.         Variable Cost: Is any cost or an expense that varies with the level of activities, variable cost per unit remains constant. Examples of variable cost are raw material, wages etc.           

                                  

The Human Elements and Current Issues in Business

THE HUMAN ELEMENTS IN BUSINESS

The human elements in business are very important because business itself depends on people as investors, customer’s employees and as managers.Individuals too depend on business to provide them with goods and services to satisfy their needs and wants. At every stage of business, people are involved as Investors, employees’, customers or managers. Businesses themselves are a group of people who seek to earn profit by providing goods and services to others. Hence, it is essential to understand the different roles these individuals play.