Financial Information System

Running head: FINANCIAL INFORMATION SYSTEM
FINANCIAL INFORMATION SYSTEM
Name of the Student:
Name of the University:
Author Note

FINANCIAL INFORMATION SYSTEM1
Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
ERP............................................................................................................................................2
Issues and risk associated with ERP..........................................................................................3
Post implementation review.......................................................................................................4
Conclusion..................................................................................................................................5
References..................................................................................................................................6

FINANCIAL INFORMATION SYSTEM2
Introduction
The report titled “Financial Information System” is prepared to analyse the financial
information system in terms of the organisation. This paper analyse and explain the various
aspect of the accounting information system. The main objective of the paper to research
about the types, benefits, risk and the purpose of the financial accounting systems. Secondly,
the reason behind preparing this assignment is to understand and analyse the requirements of
the financial accounting systems for the improvement of the firm and to recommend the
proper accounting information system to the company. To achieve the above stated objective,
this report analyse the various aspect of the ERP system to provide the details to the
Birmingham City University ( BCU) as the university has decided to implement an ERP
system in their business. The report analysis the ERP by definition, key risks associated with
the ERP as well as the issues, pre implementation planning and the post implementation
reviews.
Discussion
ERP
ERP stands for the enterprise resources planning. This is the process to manage and
control the important parts of the business activities. The ERP is the software that the firm
uses to manage the various resources planning of the business activities (Sudhaman and
Thangavel 2015). The implemented resources planning covers all the aspect of the business
and helps the company for the long run with a single system. This software helps the firm to
perform the integrate planning, sale, finance, marketing, inventories, human resource and
more. The ERP system unites the different department of the firm by implementing the same
software in every department. This also help the firm to access the different department’s
data though a single window and in one click. This also help the different departments to