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What kind of financial information system is recommended in the report?
- a)A decentralized financial information system.
- b)A real-time data system accessible to the public.
- c)A manual financial information system.
- d)A system similar to SIAFI of Brazil.
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
What kind of financial information system is recommended in the report...
The report recommends creating a robust financial information system similar to SIAFI (Sistema Integrado de Administra??o Financeira) of Brazil. This system should be time-bound and efficient in managing government finances.
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What kind of financial information system is recommended in the report...
System similar to SIAFI of Brazil
Financial information systems are crucial for effective decision-making and financial management. In the report, a system similar to SIAFI of Brazil is recommended for implementation. Here's why:
Efficiency and Integration
- SIAFI (Sistema Integrado de Administração Financeira do Governo Federal) is known for its efficiency and integration of financial data.
- It provides real-time information on budget execution, revenue management, and expenditure control.
Transparency and Accountability
- SIAFI promotes transparency by making financial information accessible to the public.
- It enhances accountability by tracking financial transactions and ensuring compliance with regulations.
Automation and Accuracy
- SIAFI automates financial processes, reducing manual errors and improving data accuracy.
- It streamlines financial reporting and auditing procedures, leading to more reliable financial information.
Centralized Control
- A system like SIAFI allows for centralized control and monitoring of financial activities.
- It enables decision-makers to have a comprehensive view of the organization's financial health.
In conclusion, implementing a financial information system similar to SIAFI of Brazil would be beneficial for enhancing efficiency, transparency, and accuracy in financial management.
Financial information systems are crucial for effective decision-making and financial management. In the report, a system similar to SIAFI of Brazil is recommended for implementation. Here's why:
Efficiency and Integration
- SIAFI (Sistema Integrado de Administração Financeira do Governo Federal) is known for its efficiency and integration of financial data.
- It provides real-time information on budget execution, revenue management, and expenditure control.
Transparency and Accountability
- SIAFI promotes transparency by making financial information accessible to the public.
- It enhances accountability by tracking financial transactions and ensuring compliance with regulations.
Automation and Accuracy
- SIAFI automates financial processes, reducing manual errors and improving data accuracy.
- It streamlines financial reporting and auditing procedures, leading to more reliable financial information.
Centralized Control
- A system like SIAFI allows for centralized control and monitoring of financial activities.
- It enables decision-makers to have a comprehensive view of the organization's financial health.
In conclusion, implementing a financial information system similar to SIAFI of Brazil would be beneficial for enhancing efficiency, transparency, and accuracy in financial management.
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What kind of financial information system is recommended in the report?a)A decentralized financial information system.b)A real-time data system accessible to the public.c)A manual financial information system.d)A system similar to SIAFI of Brazil.Correct answer is option 'D'. Can you explain this answer?
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What kind of financial information system is recommended in the report?a)A decentralized financial information system.b)A real-time data system accessible to the public.c)A manual financial information system.d)A system similar to SIAFI of Brazil.Correct answer is option 'D'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about What kind of financial information system is recommended in the report?a)A decentralized financial information system.b)A real-time data system accessible to the public.c)A manual financial information system.d)A system similar to SIAFI of Brazil.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What kind of financial information system is recommended in the report?a)A decentralized financial information system.b)A real-time data system accessible to the public.c)A manual financial information system.d)A system similar to SIAFI of Brazil.Correct answer is option 'D'. Can you explain this answer?.
What kind of financial information system is recommended in the report?a)A decentralized financial information system.b)A real-time data system accessible to the public.c)A manual financial information system.d)A system similar to SIAFI of Brazil.Correct answer is option 'D'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about What kind of financial information system is recommended in the report?a)A decentralized financial information system.b)A real-time data system accessible to the public.c)A manual financial information system.d)A system similar to SIAFI of Brazil.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What kind of financial information system is recommended in the report?a)A decentralized financial information system.b)A real-time data system accessible to the public.c)A manual financial information system.d)A system similar to SIAFI of Brazil.Correct answer is option 'D'. Can you explain this answer?.
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What kind of financial information system is recommended in the report?a)A decentralized financial information system.b)A real-time data system accessible to the public.c)A manual financial information system.d)A system similar to SIAFI of Brazil.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for What kind of financial information system is recommended in the report?a)A decentralized financial information system.b)A real-time data system accessible to the public.c)A manual financial information system.d)A system similar to SIAFI of Brazil.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of What kind of financial information system is recommended in the report?a)A decentralized financial information system.b)A real-time data system accessible to the public.c)A manual financial information system.d)A system similar to SIAFI of Brazil.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
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