Question

This passage below require analysis and breakdown

Sassan Chakanian was interviewed in 1996 regarding the project planning and systems that Maxwell Technologies, Inc. offered during this time. According the Williams and Hart (1996) this interview provided a great understanding to the need of job-costing system as this time and even as early as the 1960s. Chakanian provided a great overview in the interview of the origins of Maxwell Technologies focusing primarily on government contracts, geared to defense-related business. This shifted in the 1990s to commercial business and civil industries providing a more “client /server job costing system” (Williams and Hart, 1996). He explains the JAMIS (Job Cost Account and Management Information System) which began in the late 1970s because at the time there was a great need and nothing on the market (Williams and Hart, 1996).

According the Chakanian the need for JAMIS was viable the government needed more sufficient data and finance management and civil business leader such as CFOs could clearly see the job costs without overwhelming the general ledger. He gives a great example of how the system works, the description is very basic, working in present time taking the input of time cards for instance. He explains the simultaneous transactions to both the general ledger and to the job cost module. While the one transaction is needed for both areas the detail that is equated is specific to the need of the bottom line and the cost of that job, as performed by labor hours ( Williams and Hart, 1996). He continues in the interview to explain while they have very specific software selecting the right software for the project is key to desired functionality (Williams and Hart, 1996).

Reaction:

This interview was very helpful for me to better understand where or how job-cost systems were derived. You can see in the 1960s some of technology was or data management was in place, primarily for defense purposes. Then in the late 70s the civil business had a need growing the need for job-costing software. I appreciate the tone of the interview; Chakanian feels this is an important tool, even a necessity for accurate data and financial analysis. The information throughout the interview, explains the product, Maxwell Technologies, Inc, and JAMIS. This is informative and persuasive, however Chakanian clearly reminds us having the right software for the project or job is key to the success of both the project and cost management. I appreciate the format of the article giving some background on the interviewee and the company, it further connect the reader to the service of the organization, not just the business or technology.

critically summarise the passage

Answer 1

Question: Critically Summarise The Passage.

>Sassan Chakanian's demonstration of the viability of the newly installed software system in its costing system is appreciated.

> There is a need to new innovation and cater to business need of the civil business apart from traditional defense purpose.

> The job costing methdology is to be updated with the latest emerging trend and accounting procedures if we need to be congruence with the current scenario otherwise we would lag behind .

>JAIMS( Job cost account and management information system) the newly incorporated costing system of Maxwell technologies,Inc. which has helped it to reduce financial recording and reporting transaction cost and burden on its executives of workload.

> JAIMS provides sufficient and exact data from the database which are repeatedly used in varied departments thus preventing the disorder and extortion of numeric datas and provideing authentic source and figures in financial management.

> we need to explore other fields of domains except the traditional defense needs in software world.

> We ought to develop and match the right softwares and application packages and suits for our projects if we need to increase its functionality.

> There must be constant evolution in software development in order to match current needs of business otherwise it would take a toll on our finance to manage datas in time taking outdated process.

> Private corporate,civil business organizations should be given incentives and support from Government in order to nurture and develope efficient financial accounting softare and auditing tools.

> Future leader will be those firms which could get it task done instantly with less work burden so instant solution packages must be enhanced in the organizations which want to go ahead from its rivals

> Not only private business entities but Government authorities too need such softwares for making its public delivery of services responsive to public and society at large.