Figure 1: Six components of accounting information system.
Macquarie Asset Management (MAM), Corporate and Asset Finance (CAF) and Banking and Financial Services (BFS) has been approved by the board and lodged with the ASX. Through the accounting information system the organisation has hold a number of licence that have enabled the activities in Australia. The accounting information system has provided Macquarie group has provided the pieces of information regarding the business operation. This type of system is reviewed by the public accounting firm which depends on the accounting process of the organisation. During accounting process, the low amount of financial information is conducted by the small businesses (Taiwo, 2016). The Financial information is reviewed by the business owners to decide that if their business operation is going good or not. Thus, Macquarie group believes that the accounting information have provided a valuable advantage in the different parts of the organisation with a high profit. The organisation has delivered insight on growing on expanding the current business operation by the following advantage:
The information system has enabled the organisation to perform the business operation with classic accounting information tool. It has helped the business operation to conduct for analysis by giving the information and financial ratios (Taiwo, 2016).
The company has used the financial accounting information to create budget provide detailed analysis of the money spent on different business function. The business of different sectors of the organisation has focus on ensuring the critical economic resources according to the budget.
The organisation took business direction according to the income statement and account of the economic resources which has provided the important part of the business. Accounting information has also provided the business owners of the organisation to understand the cost of various resources or business operation. This has helped the business operations to operate with the current position and how to expand or grow the business.
The investment decision of the organisation was a wise investment which has increased operation profitability and financial health (Kieso, et al. 2016). Also it has provided the vendors and investors with the accounting information on limiting the financing opportunities as required in the organisation.
The information system has integrated the entity where the framework focus on different set of objective. According to Zakaria, et al. 2017, the strategic success of the different sectors of organisation has concluded a success which is considered as an outcome of the role of AIS in the business operation. It has also been analysed that the effect of the performance of the interaction between the Strategies and different designs of information system in business strategies has increased the organisational performance. The appropriate design of AIS have supported the business strategies which has achieved the stronger and more flexible corporate culture according to the changes in the environment (Susanto, 2017). According to the recent structure of the organisation the net interest on the trading income of the corporate segment has included the net result of managing liquidity and funding on the basis of capital, funding cost and non-core investment. This has improved the accounting volatility that has increased from the movements in underlying rates. The rates relating to the economically position is able to achieve the accounting terms with improve system easily. It has been noted in the survey of 2018, that through information system the organisation has improved the net income on equity and debt investment with the net gain of AUD 6 million in the prior corresponding period. However there was a loss of AUD 20 lakhs but the operating groups has adjust it the net income on equity through improve information system across the world and in the different department (Liu, 2016). Besides this, the employment next concert in the corporate segment has also related with employment cost that has improved the central service projects including COG, FMG, RMG, legal and governments as well as a performance related to profit share and share based payment for the consolidated entity. The use of information practices by the employees of Macquarie group has increased the share price of the organisation with related assumption and higher average headcount in Central service group of Australia. Also the other operating expenses of the corporate segment have included the operating cost recovery through different Technologies of AIS which has increased 22% in the revenue and in the average expenses (Blakely, et al. 2016).
Figure 2: Growth of corporate sector in in organisation through information system.
Recently organisation has adopted enterprise resource planning which is an important function for supporting and implementing the resources in the organisation and in the domain. The organisation is not planning to adopt Business Intelligence or the balance score card that will play a vital role for organising the business in the entire world for the organisation. This will focus on calculating the number of departments the organisation is operating in the entire world and will scrutinize the business in details (Massingham, et al. 2019).
The organisation has adopted all the elements of general model of AIS which is the end user, data sources, data collection, data management and processing, information generation and feedback. End user focus on external users like creditors, stakeholders, potential investors, tax authorities, suppliers and customers. On the other hand internal end users includes the operational system and internal reporting of the organisation.
Figure 3: General model for accounting information system.
In relation to the general model for accounting information the organisation has also adopted manual process model which constitute of physical events, resources and personal characteristic of business process. This model has helped the organisation for keeping all the records of accounting to business and in the transaction process that has widened the business perspective. Another process which organisation has implement database management system all the database model for improving the status and objectives of the organisation. This has focus on controlling the issues for auditors and satisfying the customer needs.
Figure 4: Database model.
The increasing of AIS investment by the organisation has also reduced the financial and organisational obstacles which has helped the business to access the capital market easily. The system performance of the methodologies and controls the accounting techniques with technology. This has helped to track the transaction provided in the internal reporting data, external reporting data, financial Statements and trend analysis capability.
In managing the asset management of the organisation the implementation of internal control system in the role of accounting information system was very crucial. The field of accounting and management decision making has still now meet all the requirements for communicating and controlling the business efficiency (Mirzaey, et al. 2017). The effectiveness of AIS has improve the business discipline and the overall value of an organisation. It has also improve the control efficiency of the financial information reliability which has improved the net operating business. For internal reporting information system was implemented for performance measurement and risk management purpose. This has improved segment information like:
In MAM in, the AIS Has provided real asset, fixed income, liquid alternatives investment to the clients with a diverse range of products and services (Taiwo, 2016).
In CAF, it has improved the financing, investing and Asset Management solution. This in later has also focus on flexibility of primary financing and secondary market investment which includes aircraft, vehicles, Healthcare, manufacturing, industrial energy, rail and mining equipment.
In BFS, It has improved technology in a diverse range of personal banking, wealth Management and business banking products that improve interaction of clients, brokers and business clients.
In CGM, it has improved in the integrated part of functions that has helped to end-to-end global markets which includes equities, fixed income, foreign exchange and communities.
Figure 5 : Growth in diffrent sectors of the organisation through AIS
According to Kieso, et al. 2016, the accounting information has adopted profitability and operational efficiency in different sectors of Australia
The study has concluded about the importance of accounting information system in the market of Australia and in diffrent sectors of Macquaire group. The analysis of data and adoption of diffrent models of AIS has concluded about improvment in the business and profit in the organsiation . The study has also concluded about the information quality dimension for accounting information through Macquarie group which needs to be adopted for each organistaion.
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