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Banking and Bookkeeping
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Banking systems range from cash machine networks and credit card
processing, both online and offline, through high-value interbank money
transfer systems, to the back-end bookkeeping systems that keep track of it all
and settle up afterwards. There are specialised systems for everything from
stock trading to bills of lading; and large companies have internal bookkeeping
and cash management systems that duplicate many of the functions of
a bank.
Such systems are important for a number of reasons. First, an understanding
of transaction processing is a prerequisite for tackling the broader
problems of electronic commerce and fraud. Many dotcom firms fell down
badly on elementary bookkeeping; in the rush to raise money and build
web sites, traditional business discipline was ignored. The collapse of Enron
led to stiffened board-level accountability for internal control
Saylor - Personal Name
1st Edition
NONE
Banking and Bookkeeping
Management
English
2004
1-59
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