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Financial Management System for School Department
Chatham Grammar School For Boys is a school located in Medway, North
Kent. The school has approximately 1000 students and 100 teaching and
non-teaching staff. They're also several groups, which come from the
community to use the schools facilities. The children's university is
also one example where some fifty students use the school's ICT
Facilities.
In the ICT department, the staff consists of 2 full time teachers, 1
part time teacher, a network manager and a technician. The department
receives two separate budgets. One budget is allocated for stationary
and supplies of around £2000, which is allocated from the school. The
other budget is allocated for the purchasing of hardware and software
for the schools networks, which is around £20,000 - 30,000. This is
allocated by the LEA.
Each department within the school manages their own budget and are
responsible for ensuring these funds are allocated accordingly. The
current system consists of an order form created using Excel, but that
is as far as the use of ICT goes. The order forms are printed of
twice, one to be sent to the selected supplier and the other to be
kept as a copy (the copy will have "COPY" written across it to make
sure it is not sent by mistake). One of the most used resources within
the school is paper. The paper is ordered in large batches of 50 packs
and about 10 packs are used per week. The delivery takes a week for
all packs and is kept in a store cupboard. At the moment there are no
checks on who takes paper from the cupboard and the technician is
responsible for reordering when he decides there are too few boxes.
The paper is taken from the stationary budget as well as other items
such as the printing ink and toner, exercise books, textbooks and
lined paper.
The old system was all paper based, which involved order forms being
filled out, sent and filed. When an order has been created, it would
of this system is that it can print out letters for fines and also it
Items would generally be boxed and stored in military bases or shipped to quartermaster storehouses to be held until the campaigning season was over.
Moving paper from the printer to the envelope does nothing to add value to business. It costs both time and money. Postage, printing and personnel costs keep increasing and adding to bottom line. Twenty years ago, there was the promise of “ The Paperless Office" and it is a promise that will probably never come to fruition. Since the mid-1980’s, paper clutter has expanded exponentially on the average desk. (http://www.FutureTechConsulting.com/) Not on original Reference Pg.
packaging that could be thrown after its use. This drastically eliminated the time and water
I also remember that in our walking cooler, there are a lot small containers piled up, with left filling or ingredients from the previous product. We did not throw away any left ingredients, but we rarely thinking about reuse them. We can make fruit bar or Rum ball with left over, but we also can make better or high-priced products using any left filling or
Information on vendors can be updated at any time in the future. The user may record purchase orders, bills, and payments made. Both the revenue and expenditure cycle components keep track of what is happening to inventory. Example:. If a user wants to pay for a product for which his or her company has already been invoiced and which the company has received, the user needs only enter the vendor and the invoice being paid.
Inventories can also be depicted, and quantities listed. With the proper programming, once an item is ordered, it is subtracted from the inventory, thus showing the proper amount that is actually available for sale. The Internet and international business is an interesting topic- discussing an area of business that will probably be around for many years and possibly centuries to come. Since its earliest days, the Internet has been a means of communication, an essential tool in almost instant communication.
Eaton is a complex company in terms of the financial structure given the different sectors and division. Eaton is a manufacturing company, providing customers with energy-efficient solutions in electrical, hydraulics and mechanical power. Eaton sells their products in over 175 countries and in 2014 sales were $22.6 billion. Eaton has two sectors, electrical and industrial. The electrical sector consists of the electrical division for the Americans and world segments. The industrial sector consists of three divisions, hydraulic, aerospace and vehicle. Each division operates independently and then gets funneled up into the corporation. I work for the hydraulics division of Eaton. Within the hydraulics division
This is the formula you use to let you know whether you have gained a
This part of the study includes readings in literature and studies which have bearings on the present study. In view of this, the literature reviewed were those that concentrate on financial management capability, financial resources, financial management skills, performance, and eatery business.
The following essay aims to analyse in depth a computerised accounting system and its aspects such as its history, what technologies is based on, and how it has developed since its beginning. Other aspects such as the current state of the system and the interactions with other systems and the future of the system will also be covered in this paper.
Managing personal finances is an important skill to acquire. However, no where in school is this subject taught. As a result of a lack of preparation, our society is subject to a high percentage of people who lack financial success. Those who are successful at managing their personal finances will find that they are successful in many other areas as well. To learn how to manage personal finances there are books and web sites that provide a step by step guide to successfully managing personal finances. Those who lack financial success often possess many of the same traits.
To be a successful business owner, financial planning is instrumental in business if the owner desires to achieve insurmountable success for the long term. Financial planning in particular is concerned with the evaluation process of the business. Financial management is about establishing short and long term objectives for the business and deciding what resources will be required to achieve the necessary objectives. The primary goal for financial management is to accurately account for the income and expenditures of a business to maximize the monetary value of that business to its owners. To obtain this, business managers must be able to evaluate the three elements of profit margins, which are gross profit margin, operating profit margin and net profit margin. As the cycle of financial management comes into play, the financial planning aspect of the business is as paramount in the ongoing activities of the business. A few of the objectives for financial planning are establishing budgets, cash flow and minimizing financial risks and losses.
The concept of Student Information Management System (SIMS) is one that continues to elicit mixed reactions. Its application appears limited by a number of factors. Whitley, Gal, and Kjaergaard (2014) connotes that SIMS faces challenges in acceptability due to the kind of information being stored, personal identification information being stored in the system and the identity of people accessing this information. Ngoma (2009) explores the level of success student information system, a subset of SIMS. Findings from Ngoma’s expedition indicate that many institutions tend to have a negative attitude towards implementation of such projects. Their evaluation mechanism on application of this technology is tied to the level of improvement of the institution especially student performance (Sun & Benton 2008; Chong 2014).
...ng an acceptable form of transaction.Governments need to be more transparent to the public.A lot of ‘under table’ transaction take place in the most basic everyday services(passport,license, tax).Such services has the capability to go online reducing the red tape as money is only used via online transaction.