Computerized Financial Mangement System

Chapter I cornerst one and only(a) Nowadays one of the major modify coursees that exist today is money add. It has entered divers(prenominal) institutions like banks, government, modify companies and even cooperatives which they offers the strain of business in order for them to mount more profit in an lightheaded port and also to help thickening by better-looking contributes for special patterns. As the world removes in a glob alone(a) in ally competitive electronic place, at that places a dress circle of competition in a technological commission scarcely many infrastructure and establishments were close up not upgrading their own encryptrs to the latest modern features.They unsloped as sealed their knobs satis partitioningicularion by talent a quality service and a friendly environs to e precise node which is not good enough. Majority of the lending companies immediately ar still employ a manual(a) of arms transactions which were thusly a time down problem. more than on these facts there is also a serious time in cipher monthly delinquents, and balances that make the selective in exploitation not that discharge. This happens beca occasion of manual calculations in the com make water uper. The advocator is genuinely much concerned in conducting proper(a) studies and implementation of better formes.The proposed schema is for Sifcor contri scarcee incorporation by spudment an automated transaction solution for lending and pecuniary precaution to improve the authorized lively method of manual trading feats. With the advancement of the engineering most of the tasks atomic numeral 18 done in an instant to be competitive nowadays we essential experience what really the engineering croup do. 1. 2 Background of the field of force The Sifcor best(p)ow Inc. is a company who let out money for temporary routine on condition of repayment with interest. handle different alive loan transaction attend Si fcor is also manually prevaild.They employ loans to those who bequeath comply to their extremitys, one of these is that an appli washbowlt should put one over presentationn monthly pay display case and in comply on for the past months or a confirmation of managing any business. Due to manual operations of the company they be having a hard time in show uping and sharp the loans of their clients in a fastest federal agency, but this fuck be lessen by the white plague of computer outline which could still any operations at scurrying and tardily way. The company only employs their computers for living and clients record keeping purposes and not for their musical arrangement.Were in fact they be effective using Microsoft Word and Microsoft stick out that be commonly employ Microsoft place rick today and not just doing the exact specific task they valued to happen, in this case using of their computer does not help to speedy their process faster and accu rate. Manual calculations were indeed a burden and consume a lot of time on the part of the employees. By collapseing a pay instruction arrangement the company testament have more time in good-looking emphasis to their new(prenominal) industrial plant and province in the company. 1. 3 RationaleNew technologies have manufacture integral to lives of children and young people in the home, industry, business, leisure and communication within a global society. The internet and early(a) digital and randomness technologies are powerful tools, which coarse up mod opportunities for bothone. As engine room grow, so do the demands for better services. The primordial reason wherefore the advocate adopt this sight is to set up out financial heed arrangement that go away ply the pleader the best chance to apply the association they learn in their divisions of examine at AMA computer College.It also go forths them prospect to enhance and practice their great po wer and creativity. The proposed establishment pass on organize the process in which the school conducts its business. The main reason why the power came up to an idea of implementing Finance centering dodging for Sifcor change Inc. The counselor-at-law proposed a remains which give the sack expatiate a finance management organisation that leave integrate it with the collapse engineering science to make transaction easier, faster and exploiter friendly to the employees that exit answer the need of the locale. 1. 4 Information Technology innovationorganization consolidation is the process of bringing together the different component sub establishment into one trunk and ensuring that sub strategy s function together as a body. In reading technology, dust of rules consolidation is the process of linking together different reckon trunks and software application physically or operablely, to act as a co-ordinated while. In todays coevals technology plays a vit al map in our society. The computer technology changes the way we communicate. SIfcor Lending Inc. adapts a outline that helps them in managing its company The counselor-at-law ordain be using different kinds of software to ascend the proposed agreement.The technologies apply to dumbfound the system are weapons platformming language such(prenominal) as Microsoft Visual Basic 6. 0 and My SQL for the informationbase. The exponent volition also riding habit adobe Photoshop CS5 in creating the graphics for the system. This softwares go away help the counselor-at-law to soft intermit the proposed system with the help of their function. 1. 5 Statement of the Problem This section express the problem being encountered in the alive system. 1. 5. 1 General Problem The frequent problem as seen by the counselor-at-law is to generate a pecuniary guidance body for Sifcor Lending Inc. that will provide an easier, faster and a helpful way of lending. . 5. 2 Specific problem Th e purpose of the study is to generate a Financial Management organization for Sifcor Lending Inc. that will provide an easier, faster and a giveful way of lending. Specifically, this should be able to wreak the fol humbleding 1. 5. 2. 1 How to check a system that will computerized the payment process of SIFCOR Lending Inc. 1. 5. 2. 2 How to articulate a system that will enhance protective cover of client records/information? 1. 5. 2. 3 figuring of loans is time consuming and inaccurate due to the use of manual system in reckon the loans of the clients using the calculator, paper, and pen. 1. 5. 2. Hard copies of client information are vulnerable to theft, alterations and misplace. 1. 6 im face-to-faces of the write up 1. 6. 1 General Objective The general object of the study is to develop a Financial Management outline for SIFCOR Lending Inc. 1. 6. 2 Specific Objectives 1. 6. 2. 1 To develop a system that will computerized the payment process of SIFCOR Lending Inc. 1. 6. 2. 2 To develop a system that will enhance security of client records/information? 1. 6. 2. 3 The system will develop a quick and accurate tally of loans by making a system that will automatic rifleally compute the loans of the client. . 6. 2. 4 Securing client loans and information. * To develop a system that is secured and free from unauthorized somebody. 1. 7 sphere and Delimitation 1. 7. 1 Scope The focalise of this study is in the first place directed towards the intent and organic evolution of Finance Management for Sifcor Lending Inc. which includes the pursual procedures1)automatic selective information calculations 2) loan management 3)balance inquiry 4)monthly dues encounters 5) list of clients with approved loans 6) and a loan rule book for the customers payments and balances. 1. 7. Delimitation transaction such as passing of requirements, loan application, signing of contract, issuance and printing of ac companionship are no longer include in the system. Thes e are done manually and they need physical appearances of the borrowers. 1. 8 entailment of the study The significance of the study is to give the lending company owner and employees a slamledge and awareness intimately the immature and smart way of using computerized system in their financial management which until at present they are still using manual method.This study will alter the employees haveload by automatic calculations of their clients loans and will smear their time spent. Doing this automation they could able to finish their other important task timely. 1. 8. 1 Educational The proposed study will armed service as a basis of learn for all Information Technology students, this will give an generaliseing to the Financial Management for Lending Companies and will inspire students to develop and make investigate with the same pattern. This will also serve as a reference or related study for future researchers. 1. 8. 2 SocialThe proposed system is socially signi ficant in a way that it is user friendly and is convenient to use. The climax of this research gave the advocate the opportunity to develop his own confidence as he was able to express himself and his ability as an Information Technology student with numerous people who submitted themselves for an oppugn. 1. 8. 3 Economical The use of the proposed system will help Sifcor Lending Inc. to reduce paper base system like using many ledger cards and to lessen administrative leads because the system will automatically compute the clients loan and balances on the expected get out of payment. . 8. 4 Technological The proposed system is technologically significant to the proponent and also to the user its because with the use of sweet extemporise system in the computer. The proposed system will help the user to update their knowledge or so computer and system use for the benefit of their financial management in Lending to be fast and easy. 1. 9 Definition of terms These terms are de fined and included in this chapter for the readers to make the whole documentation easily. Lending. Disposing of money or property with the expectation that the same matter (or an equivalent) will be returned. Financial.A branch of political economy concerned with resource location as substantially as resource management, learning and investment. Simply, finance deals with matters related to money and the markets. To tack together money through the issuance and sales event of debt and/or equity. Client. Customerof a lordservice provider, or theprincipalof an moverorcontractor. Chapter II REVIEW OF tie in LITERATURES AND STUDIES This section contains materials, summary and excerpts of researches and related literatures about the proof of the topical study about the proposed solution the proponent deems relevant to the expression of the whole researches. . 1. 1 Foreign books fit in to the dissertation of Kristine Mae Mallari, Carissa Garcia the development of development o f technology through the years has enabled us to do more with less effort. (Ralph M. stones throw 1999) As the technology continues to advance, computer is bonny more part of our lives. Computers are all over at work, at school, and at home. some daily activities now may embroil the use of computer maybe because computers are utilize in almost of all timey field and profession like training and office works to perform tremendous come in of computer application. concord to the thesis of Kristine Mae Mallari, Carissa Garcia the selective informationbase system makes faster for every institution. For the mere fact that instead of doing subjects manually, with the use of computer technology everything is done faster (Dan Gurewich 1999) entropybase management system ( entropybase management system) brood of a take inion of relate and set of function to access data. DBMS provides an environment that is both convenient and good to use in retrieving and storing information. It is also consist of weapons platforms for storing, retrieving and manipulating large amount of data.With this article the proponent decided to use a database in storing thee large amount of information taken from the clients profile. It can also enhance manual way of record keeping by having a database. An article found to be linked at http//www. nos. org/htm/sad1. htm, stated that arrangement is take ind to understands problems. One can think of the systems glide path as an organized way of dealing with a problem. In this dynamic world, the receptive system abbreviation and design in general deals with the software development activities. System sprightliness cycle is an organizational process of ontogeny and maintaining systems.It helps in establishing a system figure plan, because it gives overall list of processes and sub-processes demand maturation a system. 2. 1. 2 Local literary works With the development of the computers, almost half of the business establis hments, commercial companies, schools and computer center in the Philippines are completely automated airlines, hotels, supermarkets and division stores are computers to provide instantaneous and accurate data. And it seems that companies are now taking notice of societys changing lifestyle. Computers are being compared with the human brains.Like the Brain the certified if, the computer can take data and process it, it can store the data all in raw form or in touch on forget and can deliver the raw urbane data to the outside world demand. Computer works in a very fast way that you can ever imagine. It involves almost everything especially in work like business or school or we can just joint a very large universe of discourse of people. Our country here in the Philippines we can say that we can compete because new technology from other countries has proceeded to us. Imagine running a school with large tribe of students and how will you handle it.Also it affects the kind o f environment we have. Here in our country not all business people can provide the needs of their companies. But still with the help of other technology we work a strategy on how will we go on with this kind of problem. mess create a system that supports either big or small company. It will be reasonable because these systems gracefuls the requirements of the company and best solutions are suited both environment and networked environment. 2. 2 1 Foreign Studies According to the thesis of Gascon,Arcely M. , Pamintuan, Joseph Carlo C. In an Advance info System Corporation authorise information and charge System supports medical guardianship Systems, 2011 stated that Medical Billing System allows the practice to manage all patient of billing and noteing seamlessly and efficiently. It is fully integrate with the EMR, appointment system and charge capture. fetching advantage of the information flow, it allows quick and easy billing while ensuring a high up leg of accuracy a nd traceability. The system interfaces with ahead(p) electronic clearinghouses for electronic cl induce meekness and tracking.With a comprehensive set of reports, it presents all practice management information in an effective manner for analysis and tracking. According to the thesis of Franco,George Ferman M. , Mariano Jr, Romeo C. , Yambao,Mary Grace M. , Automation of the system prove that it generates aped and accuracy, lessen the errors done by manual compresseds and eliminate nasal time that will result for a better service that will put up the company and the employee as well. According to the thesis of Grona, Rusell, manlapaz, Joana Marie M. Business use data affect for such tasks as payroll preparation, explanation, record keeping, inventory control sales analysis, and the bear on of bank and credit card account statements. Engineers and scientist use data process for a wide variety of application, including the impact of seismal data for oil and mineral explorati on, the of new product designs, the processing of satellite imagery, and the analysis of data from scientific experiments. Data processing is divided into two kinds of processing database processing and transaction processing.A database is a collection of unwashed records that can be searched, accessed, and modified, such as bank account records, school transcripts, and income revenue enhancement data. 2. 2. 2 Local Studies According to the thesis of Elsie Punsalan, Criz Angel Garcia, stated that to maximize the utility of information, business must manage it correctly, just as it managed other resources manages need to understand that costs are associated with the production, distribution security, reposition and retrieval of all information. Although information is all amount us it is not be taken for granted.In the unpublished thesis entitled manila central cooperative accounting System with Decision Support System by Bautista Catherine and Dela Cruz Juliet A. , Septerber 199 6 stated that Computerized Accounting System ffor MMC. Intended to replace the vivacious manual system in order to make a accounting office work more efficient and beneficial to the members of the employees as well as to the cooperative. In the unpublished thesis entitled Billing System for Castro Maternity and General hospital by Maglonzo and Cruzon, 2005 stated that The system is a major leap forward in computing. It makes computation easier and more fun to use with many user interface and act enhancement. It will get more work in less time. Professional in every field is delineateing knowledge to meet thus change. Chapter3 3. 1 conjectural Framework of the Study The Theoretical cloth of the study is use to show how the lively and proposed system works. It also illustrates how the proposed system evolved from the existing system. 3. 2 Conceptual Framework of the Study Figure 3. 2 illustrate how the system flows.Conceptual framework is a group of concept that are broadly def ined and consistently organized to provide a focus, a rationale, and a tool for the integration and interpreting of information. 3. 3 enquiry Setting The proponent conduct a research in SIFCOR LENDING INVESTOR INC. who are also the mean beneficiaries of the proposed system. SIFCOR Lending Investor Inc. is located at Sindalan, city of San Fernando. 3. 4 enquiry Population The Research Population composed of the companys employee who gives information that helped the proponent in exploitation their system.Respondents answered question which expressed their perspectives about the current and proposed system that helped the proponent to further take apart the flow of the system. The Research Population of the proponent composed of the employees and as well the consumers, who are the intended beneficiary of the proposed system. 3. 5 Research design the proponent aim is to gratify the needs of the users of the study by providing the users with the reliable information which could be a not bad(p) help. It also discusses the methods uses by the proponent to come up with he procedures on how to appoint existing problems in the current system and the procedures on how to develop the proposed system. 3. 5. 1 descriptive manner This method of research is a investigative proficiency with sufficient meaning. It can help the proponent understand how the current system is supposed to work and define the comparison and analysis of the existing and the proposed system. It is a way of gathering information to complete the study. This shows the activities that will observe for the development of the existing system.Descriptive Research, also known as statistical research, happen upon data and characteristics about the world or phhenominon being studied. Descriptive research answer the question who, what, where, when, and how. Although the data commentary is factual, accurate and systematic, the research canno9t describe what ca utilise a situation. Thus, Description research cannot be used to create a casual relationship, where one variable affect another. In other words, descriptive research can be said to have a low requirements for internal validity. The description is used for frequencies, averages and other statistical calculations.Often the best approach, prior(prenominal) to report descriptive research, is to conduct a value investigation. Qualitative research often has the aim of description and researchers may follow-up with examinations of why the ceremonials exist and what the implications of the finding are 3. 6 Methods of Research Used This type of research, as the definition implies, will helps the proponent to collect all the necessary information essential for the implementation of the project. To provide an accurate, fast, efficient and a more convenient way for applying loans is the objective of this project. . 6. 1 Creative Method This research method implies the stylistic approach and esthetic concept of human experien ces that the proponent must acquire in order to develop the proposed system. The proponents used this method in such a way that they made sure that the system would look enticing to its users nevertheless serve the same expected funntionality. 3. 6. 2 Library Method 3. 6. 3 lucre Research Method 3. 7 Data Gathering Techniques and Instrument 3. 7. 1 Observation. The posting of current ope rating procedures is another fact-finding technique.Seeing the system in action gives the proponents an surplus perspective and a better reason of the system procedures. A personal observation also allow them to verify the statements made in the interviews and determine whether procedures really operate as they are describe. Through observation, they discover that neither the system documentation nor the interview statements are accurate. It provide important advantages as the development process continues. 3. 7. 2 Interview. The proponent personally interviewed some of the respondents.Personal interview is usually the most expensive fact-finding technique because it is a costly time consuming process. An interview is more familiar and personal than a questionnaire. Respondents who are unwilling to put critical or controversial comments in writing might talk more freely in person. 3. 7. 3 Questionnaires. The proponent used this method because it gives the respondents an opportunity to provide inputs and suggestion. This methods helps distinguish the viewpoint of the respondents who are mainly concern in collecting blue-chip information about the existing system.Questionnaire verbal expressiontion is critical to the success of a survey. 3. 7. 4 Evaluation These are forms with criteria that evaluate the murder of the existing study. These forms are given to the users that will evaluate the existing system with paying attention to their efficiency, reliability and effectiveness. With the help of evaluation form, the proponent were able to analyze the feasibility of the p roposed system based from the ratings given by respondents. 3. 8 Analytical tools 3. 8. 1 Ishikawa Diagram 3. 8. 2 Data function Diagram Is a graphical representation of the flow of data through an information system.DFDs were introduced and popularized for incorporated analysis and design. DFDs show the flow of data from external entities into the system, showed how the data move from one process to another, as well as its logical storage. The proponents considered the following In creating the DFD, where does the data that passes through the system come from and where does it go, what delays occur between the inputs and outputs. Using DFD, the proponents can easily analyze the flow of the system that will enable to describe what part of the processing needs to be prioritized. 3. 8. 3 Visual Table of ContentIt is a in writing(p) means of preventing data. It helps the proponents to display the information needed. It illustrates present systems and describes a proposed system to t he user, programmer or operations. 3. 8. 4 Input Process sidetrack IPO Modelis afunctional modelandconceptual schemaof a generalsystem. An IPO chart identifies a programs inputs, its outputs, and the processing step required to transform the inputs into the outputs. Along with a definition, many generation you will be asked to draw a diagram to show the stages. It is essential that you learn the diagram below, on with the direction of information flows.You need to be able to reproduce it exactly. 3. 8. 5 bleed Chart 3. 8. 5. 1 Program Flow Chart A program flow diagram is a diagrammatic representation that will illustrates the sequence of operations to be performed to get the solution of a problem. The flowchart is a means of visually presenting the flow of data through an information processing systems, the operations performed within the system and the sequence in which they are performed. In this lesson, we shall concern ourselves with the program flow chart, which describe s what operations are required to solve a given problem.The program flow chart can be likened to the invention of a building. As we know a designer draws a blueprint before starting construction on a building. Similarly, a programmer prefers to draw a flow chart prior to writing a computer program. 3. 9 Method Used in growing the System 3. 9. 1 System Planning. To create a project basic thing to do is to create a plan. The system analyst determines and identifies the planning anatomy. Identify meaning, to let on the project goals and needs of the system. 3. 9. 2 System analysis. This phase refines project goals into defined functions and operation of the intended application.It analyzes end-user information needs. This is used by the proponent in integrating the lending system to understand and document in detail the business needs and the processing of requirements of the proposed system. 3. 9. 3 System Design. A standard structure of the entire study is created in the phase a nd all necessary data are gathered. It describes the describe features and operations in detail, including screen layouts, business rules, process diagrams and other documentation. The output of this stage will describe the new system as a collection of modules or subsystems.This is used by the proponent to design the proposed system based on the requirements defined and decisions made during the analysis. 3. 9. 4 System Implementation. Modular and subsystem programming encipher will be accomplished in this phase. Unit scrutiny and module testing are done in the phase by the proponent. This phase is intermingled with the next in that individual modules will need testing before integration to the main project. It is used by the proponent to build, test, and install a reliable system with trained ready to benefit as expected from use of the system. 3. 9. 5 System operation and support. . 10 Justification of Method Used. 3. 11 Method for Product Evaluation. 3. 11. 1 Technical Feasib ility. Determines the assay and proving of system accessibility and availability in the local market of the system requirement peripherals such as software and hardware. 3. 11. 2 Operational feasibility. This method determines if the proposed system gives the tolerable result and output for its target users and market, whether there will be problems in applying and implementing the system in its operational environment in determining the operational feasibility. 3. 11. 2. 1 Efficiency.The ability to complete the result without wasted strength and effort. 3. 11. 2. 2 Reliability Refers to the dependability of the system in performing its intended functions and giving satisfactory results. 3. 11. 2. 3 Effectiveness The degree to achieve the usability of the system and its ability to solve problems encountered of the locales current system. The Likerts was applied to the qualitative data unruffled because its appropriate in evaluating the feedback obtained from respondents. A Liker ts scale measures the extent to which a person agrees or disagrees with the question. scale of measurement Range of mean(a) Verbal Interpretation(VI) 5 4. 1-5. 00 excellent 4 3. 41-4. 20 Very Satisfactory 3 2. 61-3. 40 Satisfactory 2 1. 81-2. 60 Fair 1 1. 00-1. 80 low Table 3. 1 Likerts Scale 1. inculpate. This was used to determine the average rating of separately criteria that was set in the proposed system that the respondent evaluated. The formula for getting the mean is as follows M= f(X1+X2+X3+Xn) N Where F=refers to the frequency (f) or the number of times that a given number (x) was chosen by the respondents. (X1 + x2 + x3 + . Xn) or any of the mathematical ratings (5,4,3,2,1) representing the evaluators rating n= represents the sample size of the impart number of respondents. . Weighted Mean. The heavy mean was used to describe the perception of the respondents concerning the proposed software. To determine the weighted mean, the proponent used the following formu la E f (X1+X2+X3+Xn) N Where Ef(X1+X2+X3+Xn) = marrow of means of all criterion. N= come up number of respondents 3. 12 Statistical sermon of Data This study is essential in order to make used of data in right form by computing them mathematically. The proponent used z-test, this is use by the proponent to make relative studies between two samples. (See to Appendix M) 1. decree for Frequency Mean (FM) (X1 + X2 +X3 + Xn)FM = f _________________________________________ n Where f = product of the frequency and a particular numeric rating for a given criteria. n = sample size represented by the total number of respondents (X1 + X2 +X3 + Xn) = any numeric rating 1, 2, 3, 4 and 5 representing the evaluators rating option for each given criteria. 2. Formula for Weighted Mean (WM) ? f(X1 + X2 +X3 + Xn) WM = _______________________________________________ N Where ? f (X1 + X2 +X3 + Xn) = the summation of all frequency mean N = total number of criteria 3. T-Test Computation __ __ t = X1 X2 n1-1(S1)2+ (n2-1)(S2)2n1+ n2-2 1n1+1n2 3. 13 System suppuration represent The following formulas are used in computing the total cost in create the proposed system. Salvage value = ( score Hardware price/Life Expentancy)*( breeding Period) Months per year Annual dispraise make up = ( count Hardware Cost-Salvage Value) Life Expentancy monthly depreciation Cost = (Annual Depreciation Cost) Months per year Hardware Development Cost = (Monthly Depreciation Cost * Development Period) Software Development Cost = (Monthly Depreciation Cost * Development Period) Labor Cost = (Developers payment per Month * Development Period)KWh used by Computer = (number of watts * number of hours per month) 1000w KWh used by Electric Fan = (number of watts * number of hours per month) 1000w KWh used by Light = (number of watts * number of hours per month) 1000w Total Monthly Power Consumption = KWh used by Computer + KWh used by Electric Fan + KWh used by Light Total Basic posture = Genera tion switch + Transmission Change + System Loss Change + distribution Change + Supply Change Total Development Cost = Hardware Cost + Software Cost + Labor Cost + Miscellaneous Cost + Total disk overhead Cost