Question

1. Using practical examples, discuss how the emerging accountancy tool that applies cognitive intelligence to generate a mental image of a phenomenon and also relies on learning, be adopted to assist Unilever Ghana Limited to achieve this vision.

Answer 1

A well-designed computerized accounting information system (CAIS) can add value to the organization by : improving the quality and reducing the costs of products or services by reducing the amount of wasted materials, improving efficiency of operations by providing more timely information, improved decision making by providing accurate information in a timely manner, and sharing of knowledge by providing competitive advantages. So the information produced by well-designed CAIS can improve decision making

Impacts on organisation:-

i.Improve results:-The CAIS help in reducing the burden of cost for manual accounting working such as multiple accounting sections,accounting officers,cost of stationery like paper,files,pens and other.Some CAIS even support filing of statutory requirements.This will bring down the cost considerably and thereby will improve overall result of the organisation.

ii.Organise the firm:-Records kept at various place often makes it difficult for the people at management to gather information for their decision making.In CAIS all the information are gathered and stored at the same roof.Now the managers can avail the information at their finger tip.Decison making and thereby the business cycle tends to be more time effective.Some CAIS even provide tools for decision making.

iii.Safety of important financial information:- when the financial information are kept in physical format,vulnerability that it may get destroyed due to natural disturbances or act of God is very high.This will lead to serious impact of loss of financial information that makes the firm stop at a question mark.A good CAIS with adequate back up provided removes this fear of loss of information.

iv.Competitive advantage:-A carefully developed CAIS is a competitive advantage for a firm.It will add value to the organisation.Rivals who lacks the CAIS tends to lack cost effectiveness,time saving,appropriate decision making that may be enjoyed by a firm having CAIS.