The Financial Information System in Contemporary Organisation: a Comparative Analysis

Abstract

Financial Information System (FIS) is a system that enables one to run evaluations on financial data. Thus, makes FIS to be a very vital tool for the financial decision of business organization and a ‘sacred’ system to be protected. Most business establishments use their web site to promote their products and services and avoid mentioning the financial information system being used. Daddo maritime services limited is an indigenous maritime services company that is a part of Daddo Group. Their Financial Information system is mainly the use of Excel and other communication networks being used are: telephone, Internet and Radio communication. The personnel in charge are Accountants and communication Officer respectively. This study is a comparative study that examined allied maritime company like Gac (Gulf Agency company); an international shipping company with branches in over 40 countries including Nigeria but every information on line about its FIS system is not mentioned, likewise a multinational oil company Chevron oil company which only stated its information link ie the new Global Information link (GIL) not their financial information system. This study is descriptive and discovered that the financial information system that is technology based which happens to be .the heart of a business organization. The recommendation includes that Financial Information System (FIS) should be given adequate attention by all organizations

Key words: Financial Information System, Daddo, Maritime services.