Question

Please please please explain this question

Journal topic: Business Intelligence impact on financial reporting/accounting.

The journal paper requires researching and presenting a paper that is faced with AIS related business topics.

The paper can be either literature research/review or field research.

All topics chosen MAY include a flowchart/BPMN/DFD detailing the process described, for example, if a paper is written on auditing IT, I would like to see a flowchart/BPMN/DFD depicting the process from planning through completion.

1. Describe what aspect of your paper will be depicted via a flow chart or BPMN Model or Data Flow Diagrams if applicable.

I really need hellp

Answer 1

Business Intelligence impact on financial reporting or accouting:

First explain about business intelligence. Business intelligence uses various instruments employed by firms to communicate against internal and external facts. Business intelligence assist organizations in recognizing changes, that can help in various business strategy, disclose new revenue streams, and bring to attention inadequacy or areas of improvements. BI is term that covers various tools, workflows and databases.

Impact of BI on financial reporting:

1. Business intelligence is a type of data warehouse that can draw data from various sources like ERM, CRM, payroll and GL systems. Company users can easily cover those datasets on top of each other in fascinating and appropriate ways to them.

2. BI provide visual tools and dashboards, that allows end users to set up own KPI's and then arrange and display data in many ways, so that problems they require to address are immediately sorted out through BI.

3. In BI, the dashboards include more than just financial data, business houses can use them for operational reporting. For example, by drawing the CRM data, businesses can easily display revenue and sales report by various metrics. This allows them to draw conclusion of where they have to concentrate and how penetrate their products in new markets. This also allows to know the profit and costing of the businesses, which will help reducing the costing of a particular product.

Business strategy flowchart:

AIS related topics:

• The uses of a data model is to narrate logic structure of the object system, as it is viewed by his users.

• In Accounting Information Systems, the object is the profitable entrepreneur and the information set aside which is needed in a structural way so the data may be in line and segregated.

• Reality modeling of the pieces around the profitable unit is very important for constructing an efficient system which back up’s the information about the profitable unit.

Accouting Information System:

• The concept of AIS modeling = materialization of economic unit => proccess.

• Luca Pacioli during “Reinaissance” (same model)

• Traditional Model

• Beginning from the years 1975 until the beginning of 80 a number of changes happened in the field of data modelling in general and in the modelling of data in Accounting Information Systems.

REA model:

• In 1979 William E. McCarthy on his research “An entity-Relationship View of Accounting Models” introduced a model which is now implemented in the most famous AIS and ERP.

• His suppose was based on the hypothesis: “A AIS may be simulated on an relational database which contains actual world entity and connections between these entities”.

• Significance can be given to the financial information system (e.g. ERP) which doesn’t have anything from traditional system.

Information Identification and protection in this model is done by following these steps:

– Event

– Sources which are swallowed or put on by this event

– Internal Agents

– External Agents

The main rules are:

– Every Event is attached to at least one Source from which it different

– Every Event is attached to at least one other Event.

– Every Event is connected to at the minimum to two Agents (The economic duality principle).

Note: I am only giving an example. Kindly, check some more research on this and give your thoughts.