Financial accounting of ISO 9001:1994 based on quality information system

Abstract

Cites the importance of quality information system (QIS) in attaining the ultimate goals of TQM. Presents the essence of QIS by describing a typical real time example. Points out that practitioners show little interest in QIS implementation as its results are seldom financially sensed. Views that a system to financially account the performance of QIS would contribute significantly towards sustaining TQM projects. Briefs the efforts made to develop the system to financially account ISO 9001:1994 based QIS and validate the same. Brings out the various financial accounting documents, including income and expenditure account and balance sheet pertaining to ISO 9001:1994 based QIS financial accounting system. Concludes by claiming that the work has shown promising results, but further research is required to bring out much more valuable contributions.