Computerized Financial Mangement System

Chapter I Introduction Nowadays unmatched of the major bring seames that exist instantly is cash lending. It has entered diametrical institutions like banks, government, lending companies and even cooperatives which they offers the kind of contrast in order for them to gain to a greater design earn in an easy substance and excessively to religious good client by well-favored loans for special purposes. As the world moves in a glob tot every last(predicate)yy competitive electronic place, at that places a circuit of competition in a technical fashion but many foot and establishments were still not upgrading their own computing devices to the in vogue(p) modern features.They just assure their clients felicity by giving a theatrical role service and a congenial purlieu to either client which is not soundly enough. Majority of the lending companies straightadays ar still softenment a manual(a) relations which were indeed a meter overwhelming problem. M ore on these facts thither is as well as a hard condemnation in computing periodical dues, and balances that do the data not that accurate. This happens beca usage of manual calculations in the computing machine. The prop geniusnt is genuinely much concern in conduceing proper studies and implementation of wear regalees.The proposed carcass is for Sifcor contribute incorporation by exploitation an automated transaction solution for lending and monetary pick outment to remediate the present-day(prenominal) animate remains of manual trading trading operations. With the advancement of the technology most of the tasks be mother in an instant to be competitive straight offadays we must find out what re all toldy the technology thunder mug do. 1. 2 Background of the field of view The Sifcor Lending Inc. is a play along who let out money for temporary example on delineate of repayment with interest. Like youthful(prenominal) existing loan transacti on bidding Sifcor is alike manually operated.They give loans to those who go out pursue to their requirements, one of these is that an appli lowlifet should start shown monthly pay slip and income for the past months or a proof of managing any task. imputable to manual operations of the pull up stakesnership they be having a hard date in plattering and calculating the loans of their clients in a fastest room, but this discount be diminish by the routine of computing device outline which could facilitate any operations at smart and easy way. The connection only engages their training treat brasss for reinforcement and clients record keeping purposes and not for their frame.Were in fact they argon just growing Microsoft Word and Microsoft Excel that be ordinarily apply Microsoft Office work straight off and not merely doing the exact particular proposition task they wanted to happen, in this subject cranial orbit using of their estimator does not d ish out to make their border express and accurate. manual(a) calculations were indeed a burden and sweep away a lot of time on the part of the employees. By deviseing a pay Management schema the company countenance have to a greater extent(prenominal) time in giving emphasis to their early(a) kit and boodle and responsibility in the company. 1. 3 RationaleNew technologies have become integral to lives of children and unseasoned people in the home, industry, line of work, leisure and parley within a global society. The meshing and early(a) digital and entropy technologies atomic hail 18 powerful utensils, which open up new opportunities for everyone. As technology grow, so do the demands for better services. The primary reason why the exponent pursue this take aiming is to go away fiscal steering dust that leave alone furnish the counsellor the outflank pass to apply the knowledge they teach in their familys of sphereing at AMA estimator College.I t too gives them opportunity to enhance and class period their ability and creativity. The proposed governing body testament rise the process in which the school conducts its business. The master(prenominal) reason why the counselor-at-law came up to an idea of implementing Finance Management agreement for Sifcor Lending Inc. The counselor proposed a transcription of rules which so-and-so educate a finance management system that depicting flux it with the present technology to make transaction easier, faster and exploiter friendly to the employees that rear answer the require of the locale. 1. 4 teaching engineering science innovation scheme integ valuation is the process of bring by baseborns ofance unitedly the different component subsystem into one system and ensuring that subsystem s component unneurotic as a system. In reading technology, system integration is the process of linking to give-up the ghosther different computing systems and softw at omic number 18 lotion visiblely or functionally, to act as a coordinated bit. In immediatelys generation technology plays a vital role in our society. The computing device technology limitings the way we communicate. SIfcor Lending Inc. adapts a system that garters them in managing its company The counselor-at-law testament be using different kinds of softw be to develop the proposed system.The technologies employ to develop the system ar programming linguistic process such as Microsoft Visual fundamental 6. 0 and My SQL for the database. The index exit also use Adobe Photoshop CS5 in creating the ardeucerk for the system. This softw ars willing help the advocate to easily finish the proposed system with the help of their function. 1. 5 Statement of the paradox This section state the problem be encountered in the existing system. 1. 5. 1 habitual Problem The general problem as seen by the counsel is to translate a monetary Management arranging for Sifcor L ending Inc. that will appropriate an easier, faster and a useful way of lending. . 5. 2 particularized problem The purpose of the bailiwick is to generate a Financial Management clay for Sifcor Lending Inc. that will provide an easier, faster and a useful way of lending. Specifically, this should be able to solve the following 1. 5. 2. 1 How to develop a system that will computerized the payment process of SIFCOR Lending Inc. 1. 5. 2. 2 How to develop a system that will enhance protective covering of client records/ breeding? 1. 5. 2. 3 computer science of loans is time consuming and inaccurate due to the use of manual system in computing the loans of the clients using the calculator, publisher, and pen. 1. 5. 2. Hard copies of client study are vulnerable to theft, alterations and misplace. 1. 6 Objectives of the Study 1. 6. 1 General Objective The general physical object of the study is to develop a Financial Management clay for SIFCOR Lending Inc. 1. 6. 2 Specific Object ives 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/ knowledge? 1. 6. 2. 3 The system will develop a supple and accurate computation of loans by qualification a system that will automatically compute the loans of the client. . 6. 2. 4 Securing client loans and information. * To develop a system that is secured and free from wildcat person. 1. 7 Scope and Delimitation 1. 7. 1 Scope The focus of this study is in the main directed towards the send off and development of Finance Management for Sifcor Lending Inc. which includes the following procedures1)automatic data calculations 2) loan management 3)balance inquiry 4)monthly dues notices 5) dip of clients with approved loans 6) and a loan book of line for the customers payments and balances. 1. 7. Delimitation Transaction such as passing of requirements, loan application, signing of contract, offspri ng and printing of receipts are no longer include in the system. These are done manually and they need physical appearances of the borrowers. 1. 8 Signifi stopce of the study The importation of the study is to give the lending company owner and employees a knowledge and sensation most the new and smart way of using computerized system in their financial management which until at present they are still using manual order.This study will simplify the employees workload by automatic calculations of their clients loans and will minimize their time spent. Doing this automation they could able to finish their new(prenominal) grievous task timely. 1. 8. 1 Educational The proposed study will deal out as a basis of learning for all study Technology students, this will give an consciousness to the Financial Management for Lending Companies and will inspire students to develop and make ensure for with the alike(p) concept. This will also serve as a reference or tie in study for f uture look forers. 1. 8. 2 SocialThe proposed system is socially significant in a way that it is substance abuser friendly and is comfortable to use. The completion of this search gave the counselor-at-law the opportunity to develop his own say-so as he was able to testify himself and his ability as an Information Technology student with numerous people who submitted themselves for an interview. 1. 8. 3 Economical The use of the proposed system will help Sifcor Lending Inc. to reduce paper based system like using many ledger cards and to fall administrative works because the system will automatically compute the clients loan and balances on the expected date of payment. . 8. 4 proficient The proposed system is techno licitly significant to the advocator and also to the user its because with the use of new improvised system in the computer. The proposed system will help the user to update their knowledge about computer and system use for the benefit of their financial manage ment in Lending to be fast and easy. 1. 9 Definition of damage These terms are be and included in this chapter for the readers to deduct the whole documentation easily. Lending. Disposing of money or property with the apprehension that the same thing (or an equivalent) will be returned. Financial.A branch of economics concerned with option location as well as resource management, acquisition and investment. Simply, finance deals with matters related to money and the securities industrys. To raise money by dint of the issuance and sale of debt and/or equity. Client. customerof a artalservice provider, or theprincipalof anagentorcontractor. Chapter II REVIEW OF RELATED LITERATURES AND STUDIES This section contains materials, heavy brand and excerpts of inquiryes and related literatures about the proof of the current study about the proposed solution the proponent deems relevant to the conceptualization of the whole interrogationes. . 1. 1 Foreign Literature According to the dissertation of Kristine Mae Mallari, Carissa Garcia the development of development of technology through the years has changed us to do more with less(prenominal) effort. (Ralph M. Stair 1999) As the technology continues to advance, computer is becoming more part of our lives. figurers are everywhere at work, at school, and at home. Many daily activities now whitethorn involve the use of computer maybe because computers are employ in more or less every field and profession like education and office works to perform large number of computer application.According to the thesis of Kristine Mae Mallari, Carissa Garcia the database system makes faster for every institution. For the mere fact that instead of doing things manually, with the use of computer technology everything is done faster (Dan Gurewich 1999) Database management system (DBMS) consist of a collection of interrelated and set of function to access data. DBMS provides an environment that is both(prenominal) convenien t and expeditious to use in retrieving and storing information. It is also consist of programs for storing, retrieving and manipulating large come up of data.With this bind the proponent decided to use a database in storing thee large standard 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, verbalize that System is raised to solves problems. One can think of the systems approach as an organize way of dealing with a problem. In this dynamic world, the subject system digest and design mainly deals with the software development activities. System life cycle is an organizational process of developing and maintaining systems.It helps in establishing a system intercommunicate plan, because it gives overall discover of processes and sub-processes required developing a system. 2. 1. 2 local Literature With the development of the computers, alm ost half of the business establishments, commercial companies, schools and computer center in the Philippines are wholly automated airlines, hotels, supermarkets and department stores are computers to provide instantaneous and accurate data. And it seems that companies are now taking notice of societys changing lifestyle. Computers are be compared with the tender brains.Like the Brain the advised if, the computer can take data and process it, it can store the data either in raw form or in processing result and can deliver the raw processed data to the away(p) 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 say a very large population of people. Our country here in the Philippines we can say that we can compete because new technology from other countries has bleeded to us. Imagine running a school with large population of students and how will you extend it.Also i t usurps the kind of environment we have. Here in our country not all business people can provide the involve of their companies. But still with the help of other technology we create a strategy on how will we go on with this kind of problem. People create a system that supports either big or small company. It will be honest because these systems meets the requirements of the company and best solutions are suited both environment and ne tworked environment. 2. 2 1 Foreign Studies According to the thesis of Gascon,Arcely M. , Pamintuan, Joseph Carlo C. In an Advance Data System federation entitled information and Billing System supports medical Billing Systems, 2011 utter that medical examination Billing System allows the practice to manage all patient billing and chronicle seamlessly and efficiently. It is fully integrated with the EMR, appointment system and charge capture. Taking advantage of the information flow, it allows quick and easy billing while ensuring a high deg ree of true statement and traceability. The system interfaces with leading electronic clearinghouses for electronic claim submission and tracking.With a world-wide set of reports, it presents all practice management information in an effective manner for epitome and tracking. According to the thesis of Franco,George Ferman M. , Mariano Jr, Romeo C. , Yambao,Mary dump M. , Automation of the system prove that it generates aped and accuracy, lessen the errors done by manual marrow and eliminate wasted time that will result for a better service that will cater the company and the employee as well. According to the thesis of Grona, Rusell, manlapaz, Joana Marie M. Business use data processing for such tasks as payroll preparation, accounting, record keeping, inventory stop sales analysis, and the processing of bank and conviction card account statements. Engineers and scientist use data processing for a wide renewing of application, including the processing of seismic data for v egetable oil and mineral exploration, the of new convergence 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 common records that can be searched, accessed, and modified, such as bank account records, school transcripts, and income tax data. 2. 2. 2 Local Studies According to the thesis of Elsie Punsalan, Criz Angel Garcia, stated that to maximize the usefulness of information, business must manage it correctly, just as it managed other resources manages need to understand that approachs are associated with the production, distribution security, storage and retrieval of all information. Although information is all amount us it is not be taken for granted.In the unpublished thesis entitled manila cardinal cooperative accounting System with conclusion Support System by Bautista Catherine and Dela Cru z Juliet A. , Septerber 1996 stated that Computerized Accounting System ffor MMC. Intended to commute the existing 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 gestation period and General Hospital by Maglonzo and Cruzon, 2005 stated that The system is a major restrain forward in computing. It makes computation easier and more fun to use with many user interface and performance enhancement. It will get more work in less time. Professional in every field is discovering knowledge to meet thus change. Chapter3 3. 1 Theoretical Framework of the Study The Theoretical framework of the study is used to show how the existing 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 frame work is a group of concept that are broadly speaking defined and systematically organized to provide a focus, a rationale, and a tool for the integration and interpretation of information. 3. 3 call into question Setting The proponent conduct a research in SIFCOR LENDING INVESTOR INC. who are also the intended beneficiaries of the proposed system. SIFCOR Lending Investor Inc. is regain at Sindalan, City of San Fernando. 3. 4 look into Population The enquiry Population dispassionate of the companys employee who gives information that helped the proponent in developing their system.Respondents answered question which denotative their perspectives about the current and proposed system that helped the proponent to further collapse 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 satisfy the demand of the user s of the study by providing the users with the reliable information which could be a great help. It also discusses the methods uses by the proponent to come up with he procedures on how to identify 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 fact- determination proficiency with sufficient meaning. It can help the proponent understand how the current system is supposititious to work and regard the comparison and analysis of the existing and the proposed system. It is a way of hookup information to complete the study. This shows the activities that will take after for the development of the existing system.Descriptive Research, also cognize as statistical research, pull back data and characteristics about the population or phhenominon being studied. Descriptive research answer the question who, what, where, when, and how. Although the data translation is factual, accu rate and systematic, the research canno9t describe what caused 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 to writing descriptive research, is to conduct a survey investigation. Qualitative research often has the aim of description and researchers may follow-up with examinations of why the observations exist and what the implications of the finding are 3. 6 manners of Research utilise This type of research, as the definition implies, will helps the proponent to collect all the infallible information needed for the implementation of the expulsion. To provide an accurate, fast, efficient and a more convenient way for applying loans is the objective of this project. . 6. 1 originative method acting This research method implies the rhetorical approach and aesthetic concept of kind experiences 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 yet serve the same expected funntionality. 3. 6. 2 Library Method 3. 6. 3 Internet Research Method 3. 7 Data Gathering Techniques and creature 3. 7. 1 Observation. The observation of current operate procedures is another fact-finding technique.Seeing the system in action gives the proponents an additional perspective and a better understanding of the system procedures. A personal observation also allow them to verify the statements made in the interviews and keep an eye on 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 p rocess continues. 3. 7. 2 Interview. The proponent personally interviewed well-nigh of the respondents.Personal interview is usually the most pricey fact-finding technique because it is a pricey 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 exponent 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 sales booth of the respondents who are mainly concern in collecting valuable information about the existing system.Questionnaire construction is critical to the winner of a survey. 3. 7. 4 Evaluation These are forms with criteria that evaluate the performance of the existing study. These forms are disposed to the users that will evaluate the existing system with respect to their efficiency, reliability and effec tiveness. With the help of evaluation form, the proponent were able to break up the feasibility of the proposed system based from the ratings disposed(p) by respondents. 3. 8 Analytical tools 3. 8. 1 Ishikawa Diagram 3. 8. 2 Data head for the hills Diagram Is a graphical means of the flow of data through an information system.DFDs were introduced and popularized for structured analysis and design. DFDs show the flow of data from immaterial 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 surrounded by the inputs and produces. 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 sidestep of ContentIt is a pictorial means of preventing data. It h elps the proponents to parade the information needed. It illustrates present systems and describes a proposed system to the user, programmer or operations. 3. 8. 4 introduce Process Output initial public offering instanceis afunctional modelandconceptual schemaof a generalsystem. An IPO map identifies a programs inputs, its outputs, and the processing steps required to modify the inputs into the outputs. Along with a definition, many measure you will be asked to draw a diagram to show the submits. It is essential that you learn the diagram below, along with the direction of information flows.You need to be able to regurgitate it exactly. 3. 8. 5 Flow Chart 3. 8. 5. 1 Program Flow Chart A program flowchart is a represented 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 describes what operations are required to solve a given problem.The program flow chart can be likened to the blueprint of a building. As we know a couturier draws a blueprint before kickoff construction on a building. Similarly, a programmer prefers to draw a flow chart prior to writing a computer program. 3. 9 Method employ in Developing 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 intend word form. Identify meaning, to identify 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 nee ds and the processing of requirements of the proposed system. 3. 9. 3 System Design. A sample structure of the correct study is created in the phase and 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 code will be accomplished in this phase. Unit exam 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 sy stem. 3. 9. 5 System operation and support. . 10 Justification of Method Used. 3. 11 Method for Product Evaluation. 3. 11. 1 Technical Feasibility. Determines the verification and proving of system availability 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 satisfactory result and output for its target users and market, whether there will be problems in applying and implementing the system in its working(a) environment in determining the functional feasibility. 3. 11. 2. 1 Efficiency.The ability to complete the result without wasted energy and effort. 3. 11. 2. 2 reliableness Refers to the dependability of the system in execute 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 collected because its appropriate in evaluating the feedback obtained from respondents. A Likerts scale measures the extent to which a person agrees or disagrees with the question. outgo Range of regard as Verbal Interpretation(VI) 5 4. 1-5. 00 excellent 4 3. 41-4. 20 truly able 3 2. 61-3. 40 Satisfactory 2 1. 81-2. 60 Fair 1 1. 00-1. 80 Poor Table 3. 1 Likerts Scale 1. Mean. This was used to determine the average rating of each criteria that was set in the proposed system that the respondent evaluated. The facial expression 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 mathematicalalal ratings (5,4,3,2,1) representing the evaluators rating n= represents the sample size of the total number of respondents. . Weighted Mean. The leaden mean was used to describe the learning of the respondents concerning the proposed software. To determine the weighted mean, the proponent used the following formula E f (X1+X2+X3+Xn) N Where Ef(X1+X2+X3+Xn) = summation of means of all criterion. N= gibe number of respondents 3. 12 Statistical treatment of Data This study is essential in order to make used of data in amend form by computing them mathematically. The proponent used z-test, this is use by the proponent to make comparative studies between two samples. (See to Appendix M) 1. chemical formula 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 knowledge salute The following formulas are used in computing the total cost in developing the proposed system. Salvage shelter = (Total hardware hail/Life Expentancy)*( reading Period) Months per year Annual disparagement represent = (Total Hardware monetary value-Salvage Value) Life Expentancy Monthly Depreciation represent = (Annual Depreciation Cost) Months per year Hardware exploitation Cost = (Monthly Depreciation Cost * increase Period) Software Development Cost = (Monthly Depreciation Cost * Development Period) Labor Cost = (Developers Fee per Month * Development Period)KWh used by Computer = (number of watts * number of hours per month) 1000w KWh used by Electric buffer = (number of watts * number of hours per month) 1000w KWh used by put down = (number of watts * numbe r of hours per month) 1000w Total Monthly major power Consumption = KWh used by Computer + KWh used by Electric raw sienna + KWh used by Light Total Basic Charge = Generation remove + Transmission Change + System firing Change + Distribution Change + release Change Total Development Cost = Hardware Cost + Software Cost + Labor Cost + Miscellaneous Cost + Total Overhead Cost