Information Systems Security and Ethical Issues - Finance Management Assignment

Information Systems Security and Ethical Issues - Finance Management - Assignment Example Computerized information systems are becoming the De facto way to communicate business information, especially financial information. As Whitman and Mattord (2011), say, there are however many security issues which have to be used which range from internal threats, external threats from hackers, etc. Managerial information if more of a product by the financial management department rather than what they collect. This information is derived from raw data from other sources such as POS, Inventory data, etc The sources of financial information can either be primary or secondary. Primary data is the data that derived from direct transactions such as POS data while secondary data is data that has been derived from other sources of data, such as internal financial resources which includes the cash flow statements, the trial balance, the income statement etc. Financial accounting systems and Principles are also useful in avoiding errors. They are designed in such a way that if an error is made, the error is made. However, some errors (such as compensating errors) may not be detected in this way. Timely: information must be timely in order to be of any use, the right information provided at the wrong time is not useful to anyone. For instance, if there is going to be a fall in demand for a specific product, getting this information in time to plan for this change in market is very useful to the business, however, if this information comes at the wrong time, the information will not be of any use to the business and the business will still have to suffer the consequences. Relevant: information has to be relevant to a business and to a specific situation. For instance, information about the fall in market demand for cars may not be relevant for a retail store, unless there is a direct correlation between the two.