Mpact of the Use of Information Technology in Improving the Performance of the Financial Control

Topics: Internal control, Information technology, Technology Pages: 9 (2094 words) Published: March 25, 2013

A Project Paper [Proposal]
presented to
The Center for Graduate Studies
Masters in Information Technology and Management Program
Taiz University, Taiz City, Republic of Yemen

In Partial Fulfilment
of the Requirements for the Degree of

Masters in Information Technology and Management

<AL_surmi, Omer, Mohammed>

<adviser’s signature>
<adviser’s name>
Faculty Adviser

Table of Contents
1.1Overview of Current State of Technology6
1.2.2Specific Objectives2
1.4Research Significance3
1.5Project Methodology4
A.1 Target7
A.2.1 Target Units7
A.2.2 Target Users7
A.4 Research9

List of Tables

Table 1.1 Description of Activity 4
Table 1.2 Gant Chart 6

List of Figures
Figure 1.1 Organizationl chart 8

4.0 Project Description
5.1 Overview of Current State of Technology

In recent years, the utilization of information technology has been magnificently increased in service industries, particularly, the commercial companies, which by using Information Technology related products such as financial organizations, electronic payments, security investments, information exchanges, can deliver high quality services to client with less effort. The technology skills can help to enhance the core transaction processing and issue competent reports for the financial function. In addition, it contributes in strengthening the financial function ability to support decision-making management, and helps to plan different strategies. IT Effectiveness strategies involve in assessing the current information technology systems and looking for ways to improve their performance, processes and control. It also produces better reports and exposes greater efficiencies. Financial control system is becoming more and more popular in today’s business environment, and most companies deal with it .moreover, financial control system is the process by which a company can adjust and supervise financial operations such as accounting results, planning, organizing and auditing. This research will contribute in raising the level of awareness of the companies leaders and managers about the importance of the usage of modern technology and lead them to success. This study will help to guide the financial processes through applying a proposed road-map based on the search's recommendations and results. The main problems faced by companies’ managements are hard to be followed. These problems embody in the difficulty of adjusting and controlling revenues and expenses, being sure if the accounting results are correct or not and to which extent the information technology is able to solve these problems. The company has no system for applying central financial controls at the head office. It depends on the reports generated by its branches. There is always a delay in detecting problems. Central control system of the financial operation is considered as one of the most important challenges that encounter companies.

5.2 Objective

5.3.1 General Objective
The purpose of this research is to study the impact of information technology on financial control in Steps foundation.

5.3.2 Specific Objectives

1. To study the existing systems’ infrastructure at all branches of STEPS foundation. 2. To study the impact of information technology on financial control and the need for implementing a central control system for financial control in the STEPS foundation. 3. To study the most suitable central control system for financial control to be implemented in the STEPS foundation and its requirements and to suggest various tools and techniques that will lead to better...
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