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Financial Information Systems

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Please provide references and guidance that will allow me to develop 3 to 4 pages based on the questions below. I don't know much about the information systems and this is my last week on this class any little bit helps. Your help is greatly appreciated.

Financial information systems can serve many functions in a business. How might you use them in your business? Which do you think you would need in the beginning?financial accounting information or managerial accounting information? How might financial information change the way you run your business?

As a small business owner, information can be one of your key assets.
1. Why must you, as a business owner, manage information as a resource?
2. How might the Internet and related communication technologies change your business?
3. What are some of the ways that information technology can improve productivity and performance in your business?

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Financial Information Systems are discussed in great detail in this solution.

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STEP 1
Financial information systems can serve many functions in a business. How might you use them in your business? Which do you think you would need in the beginning?financial accounting information or managerial accounting information? How might financial information change the way you run your business?

In my business, I will use financial information for several functions including billing, cashiering, payroll systems, follow up of receivables and inventory management. In addition, I will use the FIS for purchasing, emergency preparedness, property, contracts and risk management.

In the beginning I will require management information system because it uses estimated data in providing information that can be used by me in starting my daily operations. These estimates will be used in determining future operations for the purpose of planning operations and developing overall new business strategies.

Financial information can change the manner in ...

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