Management Information Systems :: Technology, Internet Banking, PDAs

MANAGEMENT INFORMATION SYSTEMS (MIS) The most common technology applied by MFIs is the management information system known as MIS. MIS is an integrated computer-based application used to access useful, timely and accurate information to allow the user to make appropriate decisions, and to manage information effectively and efficiently. MIS includes modules such as loans portfolio tracking, human resources, internal control, accounting, and financial analysis (CGAP, 2010). MIS is often one of the major factors that enable MFIs to achieve significant growth. Kashyap (2009) stressed that â€Å"It is difficult for an MFI to upscale significantly and maintain the accuracy and transparency of its loan portfolio without an MIS†.(PAGE?) PERSONAL DIGITAL ASSISTANTS (PDA) A personal digital assistant (PDA), also known as a palmtop computer, is a mobile device that functions as a personal information manager. MFIs employ PDAs to ease loan processing, improve loan officer efficiency, and increase data accuracy and access in the field. To get the maximum benefits from PDAs, MFIs should have a stable MIS, and high speed access to data from their branches (Waterfield, 2004). SMART CARDS Smart Cards are wallet-sized plastic cards have an embedded microchip that allows data storage, and works like an electronic passbook that allows MFI clients to carry all their related information on this microchip. Smart cards are used to manage savings accounts, disburse loans or make transfers (Whelan, 2004). Reliable electrical power for card readers, software integration between card readers and the central management information system, together with processes, policies, and staff resources for handling lost, stolen or damaged cards are required prior to the introduction of smart cards (Whelan, 2004). POINT OF SALE (POS) Point of sale (POS) is a device or system often linked to computers, bank card readers, or even mobile telephones, that is located at a physical location such as a retail outlet, in order to perform an electronic transfer from one account to another or from a customer to a retailer. Some MFIs have implemented this technology in order to increase the security of financial transactions, reduce transaction cost in order to serve clients, and to reach new areas without branch infrastructure (Owens, 2009) MOBILE PHONES Mobile banking is a way for clients to perform balance checks, account transactions, payments, etc. using a mobile phone. Mobile phones provide a new and rapidly developing technological alternative delivery channels to extend financial services to those excluded from formal financial systems. Mobile phones allow clients to call into an automated system to conduct business transactions, and to access and request information. Management Information Systems :: Technology, Internet Banking, PDAs MANAGEMENT INFORMATION SYSTEMS (MIS) The most common technology applied by MFIs is the management information system known as MIS. MIS is an integrated computer-based application used to access useful, timely and accurate information to allow the user to make appropriate decisions, and to manage information effectively and efficiently. MIS includes modules such as loans portfolio tracking, human resources, internal control, accounting, and financial analysis (CGAP, 2010). MIS is often one of the major factors that enable MFIs to achieve significant growth. Kashyap (2009) stressed that â€Å"It is difficult for an MFI to upscale significantly and maintain the accuracy and transparency of its loan portfolio without an MIS†.(PAGE?) PERSONAL DIGITAL ASSISTANTS (PDA) A personal digital assistant (PDA), also known as a palmtop computer, is a mobile device that functions as a personal information manager. MFIs employ PDAs to ease loan processing, improve loan officer efficiency, and increase data accuracy and access in the field. To get the maximum benefits from PDAs, MFIs should have a stable MIS, and high speed access to data from their branches (Waterfield, 2004). SMART CARDS Smart Cards are wallet-sized plastic cards have an embedded microchip that allows data storage, and works like an electronic passbook that allows MFI clients to carry all their related information on this microchip. Smart cards are used to manage savings accounts, disburse loans or make transfers (Whelan, 2004). Reliable electrical power for card readers, software integration between card readers and the central management information system, together with processes, policies, and staff resources for handling lost, stolen or damaged cards are required prior to the introduction of smart cards (Whelan, 2004). POINT OF SALE (POS) Point of sale (POS) is a device or system often linked to computers, bank card readers, or even mobile telephones, that is located at a physical location such as a retail outlet, in order to perform an electronic transfer from one account to another or from a customer to a retailer. Some MFIs have implemented this technology in order to increase the security of financial transactions, reduce transaction cost in order to serve clients, and to reach new areas without branch infrastructure (Owens, 2009) MOBILE PHONES Mobile banking is a way for clients to perform balance checks, account transactions, payments, etc. using a mobile phone. Mobile phones provide a new and rapidly developing technological alternative delivery channels to extend financial services to those excluded from formal financial systems. Mobile phones allow clients to call into an automated system to conduct business transactions, and to access and request information.

Frankenstein: Creating a Human

Timmy Harder Mr. Reynolds English February 20, 2010 Frankenstein vs. Modern Science When Frankenstein, by Mary Shelley, was written, it was seen as a novel warning scientists and people of the time of the dangers that could follow from exploring unknown scientific fields. In Frankenstein, the unknown field of study is the creation of a live human being. At the time, this was seen as an unthinkable and impossible task, but Victor completes it, although poorly. He began the experiment with little preparation and most of the procedures were done without care.His experiment was way before its time and most people were confused or scared by his creation. Even today creation of a human being is unheard of. However, today, one of the major issues that is being discussed is that of stem cell research. The scientists of Stem Cell Research and Victor Frankenstein share many aspects that could greatly inhibit their overall findings. Victor had many problems that could scare off modern scientifi c research but the two major fears are the side-effects that the creation may cause and scientist’ unpreparedness of their actions.The first problem with exploring a new scientific field is that not much is known about it including the procedure and just the knowledge of the subject. Victor began his initial research when he returned from England after visiting fellow scientists. He wanted to make his name famous, but he totally disregarded the necessities of the experiment. When he completed his creation, it was so hideous that he had to leave because he could not handle the ugliness. He planned to make a human like himself; instead he created a monster with yellowish skin and a height of eight feet.Needless to say, this creature was about as far away from a human as he could have gotten; it was more of a giant. When Victor first sees the monster he says, â€Å"The beauty of the dream vanished, and breathless horror and disgust filled my heart. † (pg. 38) Victor could not even force himself to look at the monster because it was too hideous. When Victor first began the experiment, he believed that he had the complete set of tools to perform the experiment but, in the end, he was not prepared enough.Today, Stem Cell research is in the same sort of mold that Victor’s experiment was in. Stem Cells were discovered in the late 1960s and real live experiments did not begin until the 1980s. At first, the experiments were performed on animals and many resulted in extra limbs and mutated body parts. The experiments were then tested on a set of twins, who were in dire need of a bone marrow transplant. The initial experiment went perfect, but afterwards their legs did not function properly, and they went in for another surgery.However, stem cells were researched for about 10 years until the first experiment was conducted, while Victor conducted his first experiment just four years after he completed medical school. The only problem was that both expe riments were conducted with total disregard of what could happen after the experiment, and in the case of the twins improperly functioning legs for life. Once the experiment or surgery was completed there are multiple side-effects that could follow each procedure. Side-effects are the things that may occur after the experiment that could damage the person for whom the experiment was completed, or the population.For example, Victor created the creature, and with the creature followed many problems that affected the creature itself, and many people in the city were bothered by the monster. The creature killed many people on accident, and the creature was affected by his ugliness and his lack of communication skills. He was unable to communicate with other people and he eventually became lonely. Although many of the creature’s side-effects were emotional and could have been avoided by the creature itself, the side-effects in total could have been prevented if Victor never create d the monster in the first place.However, many of the side-effects that follow stem cell transplant are only harmful to the person for whom they were transplanted. Several side-effects include no-stop bleeding, Anemia, and Infertility. None of these directly affect the population, although Infertility would prevent children from being born. However, the most devastating side-effect is a mutation of several body parts. One example was a kid growing an extra bladder because the environment prevented him from growing an extra kidney. Unfortunately, the man perished from cancer.Mary Shelley did as best as she could to warn the future scientists of the danger of engaging in an unknown field of science. Today, with stem cell research it is a relatively new topic that scientists are still researching. Many initial experiments have been performed, and when done correctly, can create scientific medicals. But stem cell research is still young, and with its relative newness, many experiments h ave gone wrong and have resulted in deaths and terrible side-effects. Citation: http://www. quackwatch. org/06ResearchProjects/stemcell. html

Can Corporate Governance Mechanism Prevent Corporate Fraud

CORPORATE GOVERNANCE ESSAY Can Corporate Governance Mechanism Prevent Corporate Fraud? Executive Summary This paper will reviews the extent to which corporate governance acts as efficient tool to protect investors against corporate fraud, thus contributing to summarize the literatures on role of corporate governance on preventing occurrence of corporate fraud. In a more recent study, corporate fraud is part of earnings manipulation done outside the law and standards. Whereas, the activities covered by the terms earnings management (such as income smoothing and big bath) and creative accounting (or window dressing) normally remain within the regulations. In this regard, corporate governance mechanism, particularly effective boards,†¦show more content†¦For instance, Enron that recorded as the seventh largest corporation by its market capitalization in US, averaging $90 per share and worth US$70 billion in 2000, was suddenly collapsed in late 2001. Morrison (2004) asserts that the cause of the collapse is the largest corporate fraud and audit failure. Then, it can be understood t hat the massive corporate fraud caused by fraudulent financial reporting have contributed to a very sharp decline in the US stock market. Many of these corporate scandals include such as action of account manipulation, earnings management, restatement and other failing to report the significant events to investing public. Then, what corporate fraud does really mean? One of the answers, corporate fraud is defined as an intentional or reckless conduct, whether by act or omission, that results in materially misleading financial statements (National Comission on Fraudulent Financial Reporting of the United States, 1987). Many prior studies (Persons, 2006; Bà ©dard, Chtourou amp; Courteau 2004; Uzun, Szewczyk amp; Varma, 2004; Abbott, Parker amp; Peters, 2000; Beasley, 1996) have found that corporate fraud generally involves the accounting irregularities notion, such as: * Manipulation, falsification or alteration of accounting records or supporting documents from which financial statements areShow MoreRelatedComparative Analysis Of Fair Value And Historical Cost Accounting On Reported Profit1659 Words   |  7 Pages true financial position of the company or business can be easily calculated by using the accounting methods that are more reliable and accurate. Therefore companies must use both historical and fairly value method to know the actual financial position of the company. However accounting methods are very much important in determining the profit and (BESSONG, 2012) finical position of the company if accounting methods are not accurate profit can be overstated or understated. 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