What are cookies, and why are they used?

Q: Explain how an IT environment affects access control.

A: Information technology plays the pivotal role in the survival and success of any entity in modern…

Q: What is the purpose of Access Security Software?

A: Introduction: Access security is a procedure that is implemented into the information technology…

Q: benefits and risks

A: There are many benefits in using digital payment to the customers, some major benefits are mentioned…

Q: What is the purpose of a responsibility center file?

A: Definition: Responsibility center file: The departments of the organization are generally referred…

Q: What is SCM software?

A: Supply Chain Management: SCM (Supply Chain Management) refers to the wide variety of activities…

Q: What are the advantages and disadvantages of Xero Accounting Software?

A: Xero Accounting software is a cloud based accounting software for small,medium and large businesses.…

Q: What is the purpose of an input device? Give examples of input devices for computer systems.

A: An input device is any piece of equipment used to provide data and control signals to an information…

Q: Explain an example of internal users.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: What is computer ethics?

A: Ethics: Ethics can be defined as a conduct adopted by an individual in making the selection between…

Q: What is an access control list?

A: Access Control List  The list which restricts the access of the objects attached in an information…

Q: What is Xero Accounting Software?

A: Accounting software are the kind of applications that are used for preparing the accounting books…

Q: What is the definition of a customer?

A: A customer is an individual, firm, company or any other person who purchased goods or services from…

Q: What are the things that need improvement in Xero Accounting Software?

A: Xero is an accounting software. By using of this software it help business to record business…

Q: What are the advantages and disadvantages of accessing online primary sources?

A: Primary sources are the proof of history, original records or objects created by participants or…

Q: Blockchain is a technology that?

A: Blockchain ( Chain of blocks ) : It is a system which records the message , text or information in a…

Q: What is a data dictionary, and what purpose does it serve?

A: Return on investment (ROI):   Return on investment evaluates how efficiently the assets are used in…

Q: What is involved in the posting process?

A: Posting: Posting process means posting of all transactions of business into general ledgers. Every…

Q: What is the client-server model?

A: Client Server model: A client-server model can be defined as the architecture of distributed…

Q: What is the relationship between data, information and an information system?

A: The modern world is completely centered around information. Companies, big and small, generate a lot…

Q: What is an order book?

A: Introduction: Order books are utilized by almost every exchange for numerous assets like stocks,…

Q: Why do ERP systems need bolt-on software? Give an example of bolt-on software.

A:

Q: briefly, what is the role of the clearinghouse, and is it important?

A: Clearance is very important to meet buyers with sellers and to make transactions possible between…

Q: What is a data warehouse?

A: Definition: Database: A database can be defined as the collection of data in an organized manner…

Q: What is feedback and how is it useful in an information system?

A: Definition: Accounting information system: The system which helps to gather, store, and process the…

Q: What are the functions of Xero Accounting Software?

A: Xero Accounting Software is a Software-as-a-Service (SaaS) accounting technology that is mainly…

Q: What is the role of a Database Administrator?

A: Database:  A database can be defined as a collection of structured data which is stored in digital…

Q: What is the difference between system software and application software?

A: System Software is the software type which is the interface between system & application…

Q: What is the role of the data Librarian?

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: What is the purpose of Transaction Tagging?

A: Tagging and tracking transaction: In tagging and tracking transaction technique, the auditor puts a…

Q: what is posting system in detail ?

A: Accounting is a tool of recording, summarising and analysing the financial transactions and events…

Q: What information is required in a proxy statement?

A: A proxy statement is a document containing the information the Securities and Exchange Commission…

Q: How can ABM be used by service companies?

A: Activity Based Management Activity-based management is refer as the one of the cost management…

Functions of Financial Institutions

Financial institutions are businesses that are formed to deal with financial and monetary transactions. These organizations primarily accept deposits, advance loans, make investments, and provide foreign exchange services. Financial institutions include, but are not limited to, banks, insurance companies, trust companies, brokerage firms, and investment bankers. Because financial institutions play such an important role in the economy in terms of monetary transactions, regulating their activities has become a requirement for governmental authorities. As a result, the government creates a multitude of laws and regulations to oversee the activities of financial institutions.