StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Mod3 SLP: Information flows and financial management - Coursework Example

Cite this document
Summary
SLP: Information Flows and Financial Management Name of the Writer Name of the Institution Information Flows and Financial Management What I Did During the Test Drive As directed by my instructor for the purposes of this assignment, I tried out the Kuali test drive…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER97.2% of users find it useful
Mod3 SLP: Information flows and financial management
Read Text Preview

Extract of sample "Mod3 SLP: Information flows and financial management"

SLP: Information Flows and Financial Management of the of the Information Flows and Financial Management What I Did During the Test Drive As directed by my instructor for the purposes of this assignment, I tried out the Kuali test drive. I concentrated on the first two scenarios, namely, (1) entering a Project Code and (2) Creating a Transaction for the transfer of funds between accounts. The Kuali Financial System uses e-docs to update its infrastructure. An e-doc is the basis for entering transactions into the system.

The KFS routes the document to its approvers depending on its nature and importance (wiki.kuali.org). We start with the Main Menu tab and use the Project Code in the Lookup and Maintenance section. Then we create a new project code by selecting Create New. We next see a New Project form on the screen, complete with ID number automatically given by the system. You can lookup values for a field as well. We then enter values in the form, especially filling in all the fields with an asterisk, as they are required fields.

The system also recognizes data type mismatches and duplicate entries and sends in error prompts automatically. When we have finished entering data and records, we click on Submit to submit the e-document. If all is well the screen changes and we are presented with a Review screen containing the details of our inputs. You can review and correct the information you have entered if there is a need to. The next step is to route the inputs through a Route Log. If you click the Refresh button, the document goes to Final.

The document is then pending approval and when this is done, the entire process is completed. Scenario 2 is about creating an e-document for the transfer of funds. This refers to transferring funds among accounts in the system. Starting at the Main Menu, we click on Transfer of Funds in the Transactions section. We then create a new e-document for transfer of funds. We have to complete the details of the accounts being affected, from which account are the funds being transferred and to which account.

Once you have completed the description and looked at the Overview section, you can press Submit to complete the entry. You can also lookup accounts and descriptions to reuse them. After all this is complete, you submit the e-document for routing as done in the Scenario 1 exercise. Click the submit button to make sure that your input has been successfully submitted and is waiting approval, after which the transactions is finalized and become part of the system. There is also an option to search for and look at all transfer of funds transactions in the KFS.

My Evaluation of the System To be fair, the KFS closely approximates the manual recording of transactions, where the voucher used to be the main primary document for recording transactions. Later, a system was devised and special journals created whereby all similar transactions were grouped and recorded in Special Journals like the Sales and Sales Returns Journal, Purchases and Purchases Returns Journal, Cash Book and Petty Cash Journal. The KFS thus also gives us the opportunity to record similar transactions together, as shown in the Transfer of Funds example.

Though it will take an accountant some time to understand how the inputs are done and what transactions can be grouped together, an experienced person should become proficient in the new system in two weeks to a month in my estimation. But he or she needs to be led through the steps of the entire accounting cycle, from journal entries to final accounts as reflected by the Income Statement and Balance Sheet. Only then will they be said to have a proper and full understanding of the KFS. Questions I have regarding the use of the Kuali Financial Information System One thing that was not covered is the end of year adjustment for accruals etc.

and other adjustments that are invariably made by the accountant. The system is quite complex and has a number of scenarios that need to be mastered. But once an experienced accountant gets the hang of it and knows how transactions are to be recorded, it will become easier and faster for him to do so as time goes by. All in all, the Kuali Financial System was quite comprehensive and a wide range of common scenarios has been explained in the Driver’s Manual. References The Kuali Test Drive Drivers Manual 4.1. Accessed on 20 June 2011 at https://wiki.kuali.org/display/KULDOC/Drivers+Manual+4.1

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Mod3 SLP: Information flows and financial management Coursework”, n.d.)
Retrieved from https://studentshare.org/other/1424493-mod3-slp-information-flows-and-financial-management
(Mod3 SLP: Information Flows and Financial Management Coursework)
https://studentshare.org/other/1424493-mod3-slp-information-flows-and-financial-management.
“Mod3 SLP: Information Flows and Financial Management Coursework”, n.d. https://studentshare.org/other/1424493-mod3-slp-information-flows-and-financial-management.
  • Cited: 0 times

CHECK THESE SAMPLES OF Mod3 SLP: Information flows and financial management

ERP Software Packages - SAP and Oracle

Generally, this software is utilized for the maintenance of the organizational performances in the areas of human resource management, finance departments and operational units along with maintaining the database of the organization (SAP, 2012).... Additionally, the software also helps the organizations to introduce a flexible management process along with reducing the cost of production or operation.... It also facilitates organizations to identify the exact technologies according to the operations that should be considered by the management while implementing within the working premises....
5 Pages (1250 words) Essay

Finance and Market Analysis

Finance and Market Name: Instructor: Course: Date: Question 1: Answer: Real Estate Investment Trust can conduct property investment in two different approaches.... The first approach is the application of diversification, where the REIT considers a combination of various lines of business under the same business title....
34 Pages (8500 words) Essay

Finance Management for Business - Kingfisher Plc

financial management for Businesses Contents Part A: Funding 3 a)Corporate Finance 3 b)Difference between corporate finance and corporate funding requirements 3 c)Debt and Equity Financing 3 Part B 5 a)Methods of corporate funding 5 b)Movement of share prices 6 c)Valuation 7 d)Raising additional capital 8 Part C 8 Efficient market 8 Reference List 10 Appendix: Share price movements of Kingfisher Plc 11 Part A: Funding a) Corporate Finance Corporate finance involves the financial activities related to the running of any corporation (Besley and Brigham, 2008)....
7 Pages (1750 words) Assignment

Internet protocol and VoIP security

Presently most of the internet infrastructure supports only best effort service which means there are no guarantees if the information will be delivered.... VoIP is one of the most important emerging trends in telecommunications and it integrates communication services into the IP network infrastructure....
15 Pages (3750 words) Essay

Case study - knowledge management strategy

The key role of the proposed plan is to utilize and integrate the raw information from different spheres of the organization to aid organizational The key emphasis is on the sustainable environmental management intention of MOTO.... The raw information on environment friendly strategies from the staff of different nationalities is ensured to be collected and scientifically analyzed by the proposed knowledge management system.... The technologies recommended for knowledge management within the environment of MOTO is thus environment friendly and community oriented....
30 Pages (7500 words) Essay

Stock Market Efficiency

Positive news like good guidance from the management causes the stock price to go up.... Guidance is when the company's management makes an official statement regarding the likely future prospects of the company.... The financial markets are regarded as informally efficient.... An efficient financial market ensures that: the market prices are good indicators of rationally evaluating the economic value; securitized credit has improved financial stability and allocative efficiency; carrying out of mathematical analysis deliver large quantitative measures of trading risk; the market discipline can be utilized as an effective tool in constraining harmful taking of risk....
9 Pages (2250 words) Case Study

Analysis and Optimization of Network Intelligence

nbsp;… The SSME- integration of science that converts data and information into knowledge, engineering that makes things out of knowledge, management that examines the whole process.... It in itself includes business value, software engineering services, services of management and product, service optimization, service information.... Thus to date service system was one that was provided to an individual as medical, legal, financial, etc, now in business, a company providing service to others has rapidly grown as consulting, design, technical support....
8 Pages (2000 words) Assignment

Network Simulation for Small Businesses

… The paper “Network Simulation for Small Businesses” is an affecting variant of a literature review on information technology.... It enhances communication among employees as well as improve productivity due to sharing of information.... The paper “Network Simulation for Small Businesses” is an affecting variant of a literature review on information technology.... It enhances communication among employees as well as improve productivity due to sharing of information....
21 Pages (5250 words) Literature review
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us