Question On Computerized Accounts

July 22nd, 2007 Comments off
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Question On Computerized Accounting:
You started work in ABC Company Ltd. The Management is asking you to implement a computerized accounting system. The following questions were posed to you:-  

(a) “What benefits will a computerised accounting system bring your company?” State up to five possible benefits.

(b) “There are so many different packages on the market. What should I be looking for when selecting a computerised package?” List seven factors. 

(c) “If we get a Sales Ledger package what kind of reports should we expect?” List six types of report you would expect.

(d) “What’s the difference between a stand-alone package and an integrated package? What are the advantages and disadvantages of each? State the difference and give two advantages and two disadvantages of an integrated package.

(e) “Our computer support staff say that we’ll have to configure the package before we can use it. What do they mean by that?” Explain what configuration involves.[ Refer answer below ]

(a) “What benefits will a computerised accounting system bring your company?” State up to five possible benefits.

  • automatic posting
  • automatic reports generation
  • automatic documents printing
  • more accuracy
  • more faster to prepare an accounting report

(b) “There are so many different packages on the market. What should I be looking for when selecting a computerised package?” In your answer list up to seven factors.

  • easy to use
  • suitable range of reports
  • capable for the storage to store large amount of data
  • provided security length
  • expandability
  • sufficient field length

(c) “If we get a Sales Ledger package what kind of reports should we expect?” In your answer state up to six types of report you would expect.

  • sales daybook/journal
  • sales invoices
  • sales analysis
  • VAT analysis
  • aged debtor analysis
  • customer mailing lists
  • statement of accounts
  • examinations of accounts details

 

“What’s the difference between a stand-alone package and an integrated package? What are the advantages and disadvantages of each? State the difference and give two advantages and two disadvantages of an integrated package.(d) Stand-alone package is a accounting software that have used to prepare a report and no updating of the reports.Integrated package is an accounting software package where the insertion of one record can automatic update the other records.Advantages of integrated packages:

  • automatic updating of report – faster
  • better for a large  firm which has large amount of customers and employees – the firm can save more money.

Disadvantages

  • inserted a wrong type of accounting is not easy to correct them
  • difficult to know which employee had done the error

 

(e) “Our computer support staff say that we’ll have to configure the package before we can use it. What do they mean by that?” Explain what configuration involves.

  • Configuration the package means that before we used the integrated package, we must matched the software and hardware devices.

 

  • A typical system configuration involved:
    • company name and address
    • computer hardware configuration
    • printer configuration
    • page format configuration
    • tax rate
    • alter user table

 

 

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Financial Accounting

 
 

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