Financial Accounting Essay -- Business and Management Studies:

Financial AccountingFinancial accounting or book-keeping is the process of registerfinancial transactions from the day-to-day operation of a business.The sale of goods to a customer and the subsequent settlement of thedebt are two examples of financial transactions. sales AccountingWhen credit sales are made to customers, a record needs to be kept ofamounts owing and paid. Payment is normally communicate with an invoice.An invoice usually gives details of goods supplied, quantities, pricesand VAT. Credit sales are usually made on weekly a basis, which meansthat the customer has to requital within that period to obtain thediscounts, if any offered. Overdue payments need to be chased, sosales accounting systems normally unwrap reports analysing theindebtedness of contrasting customers. Debt control is vital to businessprofitability and computing machineised systems can produce active andup-to-date reports as a by- harvesting of the main application.Human Resources------------- --The gentlemans gentleman resources (personnel) function is responsible for theselection (usually by interview), recruitment, training andontogenesis of ply. personnel records on employees will store allthe information needed by Salaries and Wages to make the correctpayments to employees this will include details of, for example,gross salary, tax code, statutory sick pay and holiday entitlement.Depending on the surface of the organisation, information may also beheld concerning qualifications, courses attended and careerdevelopment plans.Design------The foundation function is present where an organisation develops its ownproducts and work a trader who simply buys and sells goods has noneed of a design police squad unless excogitation logos etc which maybe carriedout by another firm. Design is part of the research and development(R&D) function, which is vital to organisations deprivation to radicallydevelop their product range. The nature of design teams depends on theprod uct or proceeds being designed. The skills and talents of a cardesign team are clearly very different from those of a team designinga cover for a magazine.ProductionMarkets for a businesss products should ideally, drive the productionfunction. In other words, it should be geared to produce the necessarymix and quantities of products required by customers. If goods ar... ...ons need specialist staff todevelop, introduce, maintain and update the various systems that makeuse of information technology. The responsibilities of ICT operateare much broader than those traditional held by wholly centralisedcomputer services or data affect departments because communicationis a larger part of IT with the introduction of the internet andE-mail amongst other things.. The development of cheaper and morepowerful microcomputer systems has resulted in computer facilitiesbeing distributed more widely. For this reason, ICT service needs toprovide a much more flexible service and house user syst ems at thepoint of use. For example, uses of network workstations need supportwhen equipment, such as a shared printer, breaks down or they mayrequire help in the use of software on the network. This contrastswith a centralised department, which holds all the computer equipment,carries out all computer processing and restricts user access tospecialised applications, run through dedicated terminals. ICT work may be known variously as Computer Services, counselingInformation Services or less commonly now, the Data touchDepartment.