London, United Kingdom

Accounting and Financial Information Systems

Bachelor's
Language: EnglishStudies in English
Subject area: economy and administration
Qualification: BA
Kind of studies: full-time studies, part-time studies
Bachelor of Arts (BA)
University website: www.greenwich.ac.uk
Accounting
Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms.
Information
Information is any entity or form that provides the answer to a question of some kind or resolves uncertainty. It is thus related to data and knowledge, as data represents values attributed to parameters, and knowledge signifies understanding of real things or abstract concepts. As it regards data, the information's existence is not necessarily coupled to an observer (it exists beyond an event horizon, for example), while in the case of knowledge, the information requires a cognitive observer.
Accounting
The swift victory of the railway over the waterway resulted from organizational as well as technological innovation. Technology made possible fast, all-weather transportation; but safe, regular, reliable movement of goods and passengers, as well as the continuing maintenance and repair of locomotives, rolling stock, and track, roadbed, stations, roundhouses and other equipment, required the creation of a sizable administrative organization. It meant the employment of an administrative command of middle and top executives to monitor, evaluate, and coordinate the work of managers responsible for the day-to-day operations. It meant, too, the formulation of brand new types of internal administrative procedures and accounting and statistical controls. Hence, the operational requirements of the railroads demanded the creation of the first administrative hierarchies in American business.
Alfred D. Chandler, Jr. The Visible Hand (1977) p. 87.
Information
As I understand the theory of period information doubling, this states that if we take one period of human information as being the time between the invention of the first hand axe, say around 50,000 BC and 1 AD, then this is one period of human information and we can measure it by how many human inventions we came up during that time. Then we see how long it takes for us to have twice as many inventions. This means that human information has doubled. As it turns out, after the first 50,000-year period, the second period is about 1500 years, say around the time of the Renaissance. By then we have twice as much information. To double again, human information took a couple of hundred years. The period speeds up—between 1960 and 1970, human information doubled.
As I understand it, at the last count human information was doubling around every 18 months. Further to this, there is a point sometime around 2015 where human information is doubling every thousandth of a second. This means that in each thousandth of a second we will have accumulated more information than we have in the entire previous history of the world. At this point I believe that all bets are off. I cannot imagine the kind of culture that might exist after such a flashpoint of knowledge. I believe that our culture would probably move into a completely different state, would move past the boiling point, from a fluid culture to a culture of steam.
Alan Moore The Mindscape of Alan Moore (2003)
Information
Wisdom is dead. Long live information.
Mason Cooley (1927-2002), American academic and aphorist. City Aphorisms (1984).
Privacy Policy