Chapter 3

CHAPTER 3
METHODOLOGY
3.1 INTRODUCTION
This chapter will explain the methodology of Financial Monitoring System for Koubert industries.
Methodology means the method that will be used to build this system. In addition, methodology
is the most important part in system development. Financial Monitoring System will use System
Development Life Circle (SDLC). SDLC is a series of phases in the development process. It
provides a model for development and lifecycle of an application. The SDLC process will help to
produce the effective, cost-efficient, and high quality of the system.
3.1.1 PROJECT METHODLOGY
The Financial Monitoring System for Koubert Industries will use the Iterative model SDLC. This
popular iterative model gives an exact performance of the development of software as a life
cycle. It primarily focuses on preliminary growth and design and then gains momentum slowly
with more complexity as well as meet requirements until the final software is built entirely. So,
basically, the iterative development model is an approach of segmenting any large software
development process into smaller portions.
This type of SDLC model does not target to establish a complete specification plan. As an
alternative, this model is dedicatedly designed to start with minimum requirements specifying as
well as implementing only a part of the software. The prototype is then further reviewed for
additional requirements. The practice then takes an iterative form to create a new version of the
application.
3.1.2 ITERATIVE PHASES
Planning & Requirements: As with most any development project, the first step is go through
an initial planning stage to map out the specification documents, establish software or
hardware requirements, and generally prepare for the upcoming stages of the cycle.
-The researchers conduct an interview to the owner of the Koubert Industries to find out
the needed requirements for the system.
Analysis & Design: Once planning is complete, an analysis is performed to nail down the
appropriate business logic, database models, and the like that will be required at this stage in
the project. The design stage also occurs here, establishing any technical requirements
(languages, data layers, services, etc) that will be utilized in order to meet the needs of
the analysis stage.
-The researchers create a design of the system and including the business logics and
tools that are going to be use in the system.
Implementation: With the planning and analysis out of the way, the actual implementation and
coding process can now begin. All planning, specification, and design docs up to this point are
coded and implemented into this initial iteration of the project.
-In this phase the researchers started coding based on the design and tools.
Testing: Once this current build iteration has been coded and implemented, the next step is to
go through a series of testing procedures to identify and locate any potential bugs or issues that
have have cropped up.
Evaluation: Once all prior stages have been completed, it is time for a thorough evaluation of
development up to this stage. This allows the entire team, as well as clients or other outside
parties, to examine where the project is at, where it needs to be, what can or should change,
and so on.
3.2 FINANCIAL ANALYSIS
Financial analysis (also referred to as financial statement analysis or accounting analysis
or Analysis of finance) refers to an assessment of the viability, stability, and profitability of a
business, sub-business or project. It is performed by professionals who prepare reports using
ratios that make use of information taken from financial statements and other reports. These
reports are usually presented to top management as one of their bases in making business
decisions.
3.2.2 TOOLS OF FINANCIAL ANALYSIS
Income statement: All of a company's revenues and expenses are reported on the income
statement. The reporting period could be for a month, quarter, year or year-to-date. Accountants
use Generally Accepted Accounting Principles to record these line items. For most business
reporting, the recording of sales and expenses are on the accrual basis. This method of
accounting calculates receipts and matches the related costs at the same time. For example, a
sale is recorded at the time of the transaction, even if it is sold on credit and the cash is not
collected until several months later.
Balance sheet: The balance sheet is a listing of a company's assets, liabilities and
shareholders' equity at a specific point in time. On this statement, assets equal the sum of the
company's debts and its shareholders' equity.
Assets are listed in order of liquidity from cash in banks to accounts receivable and inventory
and, finally, to fixed and long-term assets. Liabilities are listed by due date from short-term trade
credit and bank notes through long-term mortgages and bonds.

Chapter 3

Uploaded by

Copyright:

Available Formats

Chapter 3

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Chapter 3

Uploaded by

Copyright:

Available Formats

CHAPTER 3

produce the effective, cost-efficient, and high quality of the system.

3.1.1 PROJECT METHODLOGY

development process into smaller portions.

an initial planning stage to map out the specification documents, establish software or

the needed requirements for the system.

tools that are going to be use in the system.

Implementation: With the planning and analysis out of the way, the actual implementation and

coded and implemented into this initial iteration of the project.

have have cropped up.

3.2 FINANCIAL ANALYSIS

Financial analysis (also referred to as financial statement analysis or accounting analysis

or Analysis of finance) refers to an assessment of the viability, stability, and profitability of a

business, sub-business or project. It is performed by professionals who prepare reports using

collected until several months later.

company's debts and its shareholders' equity.

credit and bank notes through long-term mortgages and bonds.

You might also like