Integrated Financial Management Information Systems free essay sample

An FMIS is defined as an information system that tracks financial events and summarizes financial information (Acevedo 2009, USAID report 2008 , Dorotinsky 2003)’. ‘Most organization implement FMIS to improve budget planning and execution by providing timely and accurate data for budget management and decision making (Khemani, 2005)’. According to both Dorotinsky (2003) and Rozner (2008) â€Å"an FMIS is an information system that tracks financial events and summarizes financial information. It supports adequately management reporting, policy decision making, fiduciary responsibilities and the preparation of auditable financial statements’. In its basic form, an FMIS is little more than an accounting system configured to operate according to the needs and specifications of the environment in which it is installed Rodin-Brown (2008).In the public sector, it can also refer to the automating of financial operations that enable governments to plan, execute, and monitor the budget by assisting in the prioritization, execution, and reporting of expenditures, as well as the custodianship and reporting of revenues. We will write a custom essay sample on Integrated Financial Management Information Systems or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page FMIS solutions can greatly contribute to the efficiency and equity of government operations. Modern FMIS platforms help governments comply with domestic and international financial regulations and reporting standards and support decentralized operations through centralized Web-based solutions, providing access to a large number of authorized budget users at all levels). An FMIS is a standardized monitoring and reporting system, which consolidates all the information needs of a government into one information database. It facilitates consistent recording and reporting of information, to enable a government to take macro decisions that affect the country as a whole. (Ernest and Young 2014) .As the name FMIS suggest there are and should be, three guiding characteristics for any designed FMIS it should be a management tool, it should provide financial and non-financial information and lastly, it should be a system. (Diamond and Khemani 2005) As a management tool should support the management of change. It must be viewed as an integral part of budget system reform hence not be designed just to meet present requirements, but also to support those needs that are likely to arise as parallel budget reforms are implemented. Secondly, FMIS provides decision-makers and public-sector managers with the information they need to perform their managerial functions. Reform hence not be designed just to meet present requirements, but also to support those needs that are likely to arise as parallel budget reforms are implemented. And lastly it is a system and its role is to connect, accumulate, process, and then provide information to all parties in the budget system on a continuous basis. All participants in the system, therefore, need to be able to access the system and to derive the specific information they require to carry out their different functions. The converse is also true, if the FMIS does not provide the required information that is, has not the right functionality it will not be used and will cease to fulfill its central function as a system.

Charles I (history) and the english civil war essays

Charles I (history) and the english civil war essays Why did civil War break out in England in 1642? A civil war is a conflict fought between inhabitants of the same country. In this case the two sides that fought against each other in England were the Kings side and Parliaments side. The main reasons for going to war were part of three or possibly four topics; they were Money, Religion, Power, and...Personality. Historians argue that there were problems in the country, which were important and that they made war more likely but the disagreements are about which reason is the most significant for having a civil war break out. Who was more to blame the bad king or the highly demanding parliament? 1625 Charles I becomes king on 1629 Charles starts Eleven Years 1639 War starts in Scotland over 1640 Meeting of the Short and 1642 King tries to arrest leading 1646 Victory at Naseby ensures 1649 Execution of Charles I, the 1660 Charles II is returned to the There were many problems about religion; not only in England style. In Engla ...

Operation Overlord D Day Essay Example | Topics and Well Written Essays - 1750 words

Operation Overlord D Day - Essay Example alysed the Allied military planning for Operation Overlord are blessed with the gift of hindsight, they know that Operation Overlord was a success that contributed to eventual Allied victory. The Second World War was after all the conflict in which Air power came to the fore, military and naval operations launched when air superiority was held were far more likely to succeed than operations carried out whilst an enemy power held air superiority. When a combined military, naval and air operation was as large and as extensive as Operation Overlord, its planners had to consider any potential threats to its success and the Air threat could be considered to be one of the most significant single obstacle to success. It could be argued that Allied over - estimations of the Air threat posed by the Luftwaffe did have a serious effect on the Operation Overlord planning. The Allies believed that the Luftwaffe remained a formidable opponent and therefore a serious and potent Air threat to the successful execution of the plans for Operation Overlord. The Luftwaffe in numerical terms still had thousands of operational aircraft, even if before Operation Overlord was launched, the majority of those aircraft were used upon the Eastern Front and in defending the Third Reich from the Allied strategic bombing campaign.1 For the Allied military planners tasked with making Operation Overlord a successful reality it was worth ensuring that the Allied Air Forces had enough operational aircraft available to establish air superiority over the projected landing areas to avoid a disastrous repulsion of Operation Overlord. Although the warships that were tasked with protecting the troop ships would carry a large complement of anti-aircraft guns they would have found it very difficult to overcome German air strikes against the invasion fleet without their own aircraft providing cover. Besides the landing craft that were needed to ferry the Allied troops to the beaches were the parts of