Information Flows and Financial Management (Research Paper Sample)

Information Flows and Financial Management
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Information Flows and Financial Management
Information flows and financial management are the basic building blocks of an institution or organization. Financial management is an effective and well-organized management of funds in a way that they can achieve the objectives of that organization. On the other hand, Information flows refers to the path taken by data from the source to the end users. Therefore in the processing of this information, we need an efficient system that will be able to give us the best of the results that will assist in making proper decision on financial usage of the firm CITATION Fog09 \l 1033 (Fogel, 2009). The Kuali Test drive software is one application that has been developed by the Kuali foundation to carry out the information collecting and relaying the information to the necessary individuals for the right decision making. Kuali Test drive comes with a simple user interface that will help an organization optimize on their personnel and also make it easy for the users to access it. Clients will also save valuable time when using this software and be able to be productive. The system, offers a range of high end quality services as shown below.
The system enables organizations and institutions to carry out the transactions and necessary financial data required by an organization. The test drive contains base modules for accounting and commerce such as, transactions, workflow, reporting of financial usage, general ledgers on the daily operations and chart accounts for various transactions CITATION Wyn12 \l 1033 (Wynne, 2012). The system also has supplementary modules which come later on such as, endowment, budgeting, accounts payable, enhanced reporting and accounts receivable. The complexity and simplicity of the system are relative and can be seen through its easy to use interface as well as the details that are involved in the execution of its mandate. The systems allows to carry out a number of activities with it, they include; creating a proposal, developing a government grant funding report, developing a system to show existing opportunities, adding key staff and personnel in the organization, adding special data to the system servers, developing special reports and any other research, reviewing of existing systems components, addition of customized data, using abstracts and any necessary attachments, budget creation and also answering customer questions on various issues affecting them and those that are frequent and repetitive.
The scenarios that Kuali Test drive work on in the real life issues in the organizations, we can consider for instance, creating a proposal. A proposal is a developed plan on how to run something and get optimum results. These can be created from a research carried out, or from available data. In the Kuali Test drive, when running the application to carry out a proposal, since the software runs on a user interface, there is need to sign in to access the proposal write-up page. The authentication process is quite simple and fast, then you can access the proposal development page. Here there is need to input the basic requirements of a proposal, but since the system is made to operate on the minimum requirements, there is only a few elements to be input CITATION Wyn12 \l 1033 (Wynne, 2012). The information required at the interface to give the results include; the objected start and end dates of the proposal, the nature of the proposal, specifications on the type of proposal and also a list of potential sponsors. The information of the institution that is carrying out the proposal is also necessary CITATION Kua10 \l 1033 (Kuali Coeus Driver’s Manual , August 2 2010.). The program is so detailed that it gives the user an opportunity to make decision depending on their personal preferences. At the document overview tab, a detailed description of the project is usually made, though it must be compact and direct to the point as the minimum word count is set. The filled details can be saved and allows one to go the next step. The information required in this area is; sponsor and the program information, location of the organization, information on delivery and the performing organization in the proposal CITATION Fog09 \l 1033 (Fogel, 2009). At this point information on the performance sit...