Information flows and financial management - 550 Words

Information flows and financial management (Other (Not Listed) Sample) Content: Information FlowName:Institution:Introduction Each organization regardless of the size has some form of information flow within and without the organization structure. With reference to the decisions, objectives, levels and the powers distribution among the different players in the business model, the structure can vary widely. Movement, the level of interpretation and manipulation of information tends to take the same form and shape from one organization to the next. For an organization like Kuala foundation, information moves in several directions. This is an organization that offers several software solutions to institutions and businesses alike. With its open source approach, the organization has developed from a small firm to a well recognized and respected firm in the industry, with close reference to financial softwares (Kuali.org, 2014). There are four ways that information can move within and without Kuala Foundation which include; horizontal movement, inwar d-outward flow, vertical information flow and downward information flow.Horizontal Information Flow Within the organization there are number levels that are part of the organization structure. At the same time there are different clients that are using the financial system designed, managed and maintained by Kuali. Within this levels where the decision-making powers are almost similar or of the same level, any information that is shared, moves in horizontal manner (Greg, 2013). For example, among the board of directors, their decision making powers are almost similar. Much of the debates that they hold are carried through all the members consensus before they are passed. This means that any form of exchange of financial data that takes place between these members is horizontal. This is the same case with customers, when they pass along financial information amongst themselves (Kuali.org, 2014). At the same time any financial information that is passed among the different members of the operational teams in the different departments also takes the same form. Information is always flowing from Kuali students, financial system, human resources, Coues, open library environment, rice mobility and ready departments (Haag, Cummings, McCubbrey, Donovan Pinsonneault, 2006).Inward-Outward Flow Sometimes information needs to be exchanged between the management of the organization and the clients or the stakeholders. This means that the information could be coming from the management to the clients, in which case it would be moving outwards. At the same time it could mean that the information is coming from the stakeholders or the clients to the management, which in this case is inward (Vpaf.umd.edu, 2014). For Kuali foundation, it is always in constant exchange of vital financial information between the management and the clients or the stakeholders (Greg, 2013). This is a basic aspect of any business as it has to be in constant communication with these entities as part of managing their finances as clients (Ariz, 2012). When universities or the organizations on the system upload documents with regard to their accounts transactions, these are inward flows to the system. Sections heads will from time to time initiate transactions in the various accounts, in an outward flow on information (Kuali.org, 2014).Vertical Information Flow This is a flow that underlined by information moving from the lower levels of management to the higher management levels. Any financial information that comes to the board of directors from the sectional heads is moving in the vertical flows. This means that it is moving from lower levels to the much higher levels in the organization structures (Vpaf.umd.edu, 2014). Information such as monitoring reports, audit reports and other metrics carried out on the various accounts for the general management of the platform, are considered vertical flows if they are passed from the operational levels such as the sections heads to t he board directors (Greg, 2013).Downward information flow This is a flow that is pretty much the opposite of a vertical flow, such that information with financial data now flows from the upper levels of management to the lower levels of management. Whenever, reports are discussed by the board of directors, there is alw...