Company information systems used in decision-making processes of financial managers

• Authors: Renáta Myšková
• Venue: WSEAS TRANSACTIONS on SYSTEMS
• Year: 2009

Economists and IT experts share the opinion that IS/IT in a company should be in accordance with the company objectives and management strategies; they cannot be viewed separately. As far as the economic aspect is concerned, there exist certain criteria that could be considered social criteria because information system effectiveness, as well as the company effectiveness, depend on human factor. Reference literature identifies the work with information as a strategic factor of company's prosperity and competitiveness. An economic information system has recently been an inevitable prerequisite in a large or small enterprise. The requirements relating to such system can be characterized in the following way: competitive price, configurable and flexible system comprising all the basic and certain extra functions essential for information support to all the company operation. An integral part of the system is an information accounting system supporting financial accounting management. Accounting is the method in which financial information is gathered, processed, and summarized into financial statements and reports. Accounting records are important because the resulting financial statements and reports help plan and make decisions. These records may be used by company management and by third parties (bankers, investors, creditors, etc.). The accounting information system has to support managerial decisions and it has to work with external accounting modules and external database modules. Changing accounting software is a big undertaking. It may, and should, have an impact on almost everyone in the organization, on customers as well. Accounting Information Systems were scanned in the empirical research and financial managers assessed the situation in their company and their satisfaction with these systems.