Gamboa, Lawrence M.

BSMA 2-1

1. Computer literacy ​is defined as the knowledge and ability to utilize computers
and related technology efficiently, with a range of skills covering levels from elementary
use to computer programming and advanced problem solving. Computer literacy can
also refer to the comfort level someone has with using computer programs and other
applications that are associated with computers.
Information literacy on the other hand,​includes the ability to identify, find,
evaluate, and use information effectively. From effective search strategies to evaluation
techniques, students learn how to evaluate the quality, credibility, and validity of
websites, and give proper credit.

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2 . An information system is defined as the software that helps organize and
analyze data. So, the purpose of an information system is to turn raw data into useful
information that can be used for decision making in an organization.While information
systems may differ in how they are used within an organization, they typically contain
the following components: Hardware, Software, Databases, Network and Procedures.

3. Five characteristics of high quality information are accuracy, completeness,

consistency, uniqueness, and timeliness.Information needs to be of high quality to be
useful and ​accurate. The information that is input into a database is presumed to be
perfect as well as accurate. The information that is accessed is deemed reliable. Flaws
do arise with database design but do not let something in your control, accurate and
reliable data, be one of them. A database design that is accurate and reliable will help
achieve the development of new business ideas as well as promoting the organizational
goals. ​Completeness ​is another attribute of high quality information. Partial information
may as well be incomplete information because it is only a small part of the picture.
Completeness is as necessary as ​accuracy ​when inputting data into a database.
Consistency is key when entering information into a database. Uniqueness is the fourth
component of high quality information. In order to add value to any organization,
information must be unique and distinctive. A fifth important aspect of information is
timeliness. New and current data is more valuable to organizations than old outdated
information. Especially now, in this era of high technological advances, out-of-date
information can keep a company from achieving their goals or from surviving in a
competitive arena.
4. Facebook and Twitter are two of many social media applications that is widely
used today. ​Social media are interactive computer-mediated technologies that facilitate
the creation and sharing of information, ideas, career interests and other forms of
expression via virtual communities and networks. Users usually access social media
services via web-based technologies on desktops, laptops, and mobile devices. They
create an account to these websites and then share or exchange information with one
another. They can also communicate through the use of chat boxes. With the
advancement of technology, also give rise to the popularity of these two social media
sites. As of the first quarter of 2019, Facebook have 2.38 billion active users while
Twitter have 321 million active users. Facebook and twitter are also huge companies
that earn through their application. As of today, Facebook’s net worth is 506.2 billion
dollars while Twitter’s net worth is 26.4 billion dollars.

As one of the many active users of these social media applications, I can say that
they made an impact in the lives of the people. Social media applications heavily rely on
the interactions happening in their apps or sites. More interactions means more users
that will engage in their sites. Personally, these sites are very useful in creating
possibilities of interactions. They made interactions easier since you can now interact
with someone even if it is in virtual form. Unlike the old times when interacting with
someone far away from you can take weeks or even years. Today, you can
call,message, poke, or notify someone with some clicks of a button. These applications
are ground breaking to social scene and made many possibilities turn to reality.

With the creation of these applications come new things that were introduced to
the masses. Since it relies on technologies to function. Upon creating an account, you
know have what they call as the digital self. The digital self is the persona you use when
you’re online. Some people maintain one or more online identifies that are distinct from
their “real world” selves; others have a single online self that’s more or less the same as
the one they inhabit in the real world. You represent yourself in the digital word by
sharing content about yourself to the public or the world.

Using social media applications for personal use is the main objective of these
applications. You are encouraged to post things you like, share moments to others, see
others post. They thrive on these concepts to run the application. These applications
are also helpful to share ideas or opinions about a certain topic. You can also comment
on other people's ideas or opinions. You have your profile page to post photos, videos
and other things that you want to post.
 Social media applications are used for personal purposes. But, it doesn’t mean it
can be used for business. Not only they are useful to businesses, small or large. They
can also help them grow if used properly by a business entity. Social media applications
have various functions for business that they can use to help them carry out their
objectives or plans. First is that these applications can be used as a market for their
goods and services. They are many groups in these application that buy and sell certain
goods and services. Another is they can advertise products and services. They sponsor
“influencers” that will use their products hoping their fanbase will buy them. They can
also use social media applications to know customer feedback or suggestions to
improve their service or goods.By looking at suggestions commented and making polls
or survey about their products. Social media applications can also help to attract
potential investors. Businesses can post some of their activities to showcase to these
investors their objectives and plans that may help to convince them to invest.

Social media applications could also be a great help in the legal or law
enforcement. Through the use of social media applications, they can help catch
fugitives to bring them to justice. These make their life easier in order to bring law and
order to the world.

Police use social media applications to surveillance activities that could have
been classified as suspicious in nature. They can also use posts of people in trial as
evidence against them. They can also use these posts as confirmation of a statement
made by someone being questioned by the police. Another function they can use is
tracking. They can use social media applications to track people in question or wanted
by looking at their profile pages to see information about them so that they can make
assumptions on where they may be hiding. They can also gain vital information on the
suspect's profile by knowing their acquaintances and interview them to know more
about suspects behavior and possible location. It is also helpful by posting the
photographs of wanted people and making the public aware. With the spread of
information, many can report if they have spotted the wanted person and help law
enforcement agency like the police to catch the criminals being hunted.

Social media applications really had made an impact in the lives of people. It’s
effective for communication as well as socialization with interactions being made online.
It also gives opportunities for businesses to reach out to their customers and help them
maximize profits. And also can help serve justice by aiding law enforcement in hunting
down criminals.
5.
Financial Management Information System or FMIS is a type of information
system that tracks financial events and summarizes information.It also supports
adequate management reporting, policy decisions, fiduciary responsibilities, and
preparation of auditable financial statements. It helps company to have a well ordered
system that they can use to efficiently do certain tasks like making financial statements
and other related financial activities. It helps a lot by making these activities a lot more
easier by having automated spreadsheets and statements that speeds up the process a
lot compared to manual.

Having these information system is essential to big companies to have smooth

operations. There are many decisions that it can affect and be a great benefit for. First
are financial decisions being made by the company. With FMIS on hand, top
management can see reports in an instant. They can have insights regarding financial
activities of the company to evaluate them if it is right or wrong. The system gives
reliable and timely reports. FMIS also make accessibility of these reports and
statements more easier. You can easily present them to management by just putting it
in a presentation. Another is information transparency. Often, the owner and the
accounting and finance-related personnel are the only ones who know and understand
what is happening financially with the company. Through the use of an FMIS, all
individuals with access to the system can check on aspects of a company’s financial
performance. This helps managers of other departments and functions better
understand how and to what extent what they do impacts the business. This helps to
make better decisions not only to the top management but also the operating managers
to have a better output resulting to better profit yield in the future. Another benefit you
can gain for having a FMIS in your business is budget control. Because different
departments can track their spending and make ongoing adjustments through an FMIS,
it reduces budgeting complexity. Instead of having to regularly meet to discuss the
budget and any changes, department heads can see what they and others are doing
and provide insightful commentary on any issues that arose that did impact or could
impact their respective budgets. This also facilitates tighter budget control. FMIS can
also help in creating a model that a company can follow. It will help them to have a
objectives to meet those projections as well serves standard to benchmark actual
operations.F​MIS in Finance enables organizations to store a large amount of data. ​.This
helps managers develop accurate models of the external environment and thus
incorporate realistic "what if" scenarios into their long-range planning goals.
 An FMIS will consist of several elements with different functions. In the
description that follows, the term “module” will imply that the system is a sub-element in
a FMIS. The core of an FMIS could be expected to include the following modules and
systems. ​A general ledger represents the record-keeping system for a company's
financial data with debit and credit account records validated by a trial balance. The
general ledger provides a record of each financial transaction that takes place during
the life of an operating company. Accounts payable is an accounting entry that
represents a company's obligation to pay off a short-term debt to its creditors or
suppliers. It appears on the balance sheet under the current liabilities.Accounts
receivable is the balance of money due to a firm for goods or services delivered or used
but not yet paid for by customers. Said another way, account receivable are amounts of
money owed by customers to another entity for goods or services delivered or used on
credit but not yet paid for by clients.​A payroll system involves everything that has to do
with the payment of employees and the filing of ​employment taxes. This includes
keeping track of hours, calculating wages, withholding taxes and other deductions,
printing and delivering checks and paying employment taxes to the
government.​Procurement is the process of finding and agreeing to the terms, and
acquiring goods, services, or works from an external source, often via a tendering or
competitive bidding process.

These are the components of Information system to operate efficiently and

reliably. These components intertwine with each other and harmonize to give out
statements and reports needed by the management. Having an FMIS system
implemented increases your capacity to schedule and forecast. With that capability, the
process of allocating financial resources become much more effective, and the targets
set become more realistic. You should always allow your financial capabilities to inform
the scope of your plans and limit it accordingly. This capacity to plan realistically allows
you to achieve your goals much faster. With a financial management information
system, your business will have a competitive advantage over other businesses that do
not have it. An FMIS is simply another way to leverage the immense power of
information technology and bring more productivity to the business and more
satisfaction to the customer. The business will be able to see everything that is going on
in a financial sense and respond in a timely manner to remain a step ahead of its
competitors at all times.