Most of the financial decisions in a form occur at the: Traditionally, organizat

Question

Most of the financial decisions in a form occur at the: Traditionally, organizations use human resource management system to: The difference between a decision support system and an expert system is that the expert system is built to provide advice to non-experts and guide them to make a better decision. A decision support system is used by a trained decision maker to collect data, analyze models and produce output. In expert system development, special purpose languages like LISP and Prolog make the development job easier, but customer programming is cheaper and less time consuming.

Explanation / Answer

Market volatility and innovations in financial trading have made investment decision making increasingly complicated and risky. However, the availability of reliable financial market data and powerful software tools has never been greater. In this environment, decision support systems (DSSs) are playing more-important roles and improving the quality of decisions made by both professional and individual investors.

Facing the lack of enough data to develop statistical models, and having the opportunity of enjoying the knowledge of these analysts, it is usually decided to develop a decision support system to gain from this experience, in other words, an expert system is developed. The expert applied systems recognize the fundamental role of the external information, making that the de-materialization and globalization of the informational processes are more and more accessible.

The virtual world has changed the thinking way of the humans. That is why the companies must understand the high importance the expert systems have.

Shortly, if there is a modern and motivated management system, when there are the possibilities to make an operational expert system, the problem of making an expert system becomes similar to that of making an investment that must be lead by inspiration and desire that the expert system to be projected and implemented to be a practical, efficient, performing and useful system for the economical operator.

The expert systems, such as other categories of intelligent systems, manage to create certain myths regarding the way the solve problems and offer solutions, advice or recommendations. They have seducing qualities, in the way that they can provoke to some users an addiction towards them, being given that they are impressed by the way they work and give solutions, making them neglect the human interaction necessary with the managers from the superior level.

The applicability area of the expert systems in the financial accounting domain can be localized at the following activity segments:

• Enterprise administration - insures the fundamental financial balances and measurement of the enterprise’s performances

• For the employees – analysis of the enterprise’s stability, enterprise performance, payment systems

• For the suppliers - analysis of the financial situation and solvability

• For the banks – evaluating the credit granting risks

• Analysis of the solvability and credibility of potential customers

The problems that can make the object of the expert systems in financial accounting are:

• Choosing the most adequate account structures, that can answer to the decisional and informational requests;

• As informational requests, we include partners such as: banks, shareholders, customers;

• Taking data into the system, once with making the accounting analysis and proposing accounting recordings, according to the admitted principles;

• Taking data from the main documents through the expert systems will be accompanied by legality and consented operations opportunity check;

• Recognizing incomplete or mistaken data and treating these situations with specific procedures;

• Protection of the financial- accounting information with multiple access checking rules, at the data bases and the knowledge bases within the domain;

• Analysis and interpretation of the synthesis accounting documents: balance sheet, profit and loss account, annexes;

• Profitable leadership of the enterprise, using both accounting financial accounting information and management accounting information;

• Making complex works, such as: accounts consolidation or foreign relations accounting. Within the management domain, three expert system classes can be described, at the level of the enterprises but also of the banks:

• Diagnostic expert systems, that imply making an expertise, based on rules;

• Prediction- planning expert systems, used to show the optimal plan variant;

• Control expert systems, for supporting decisions that must be taken extremely fast.

These are the various benefits of expert system and these can make the development job way easier.

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