Archive about 'Computerised Accounting'
Comparison Of The Steps Of An Accounting Cycle Under The Manual System and Under The Computerized System
Steps In Accounting Cycle
Manual System
Computerized System
1
Analyze source documents
Manual
Manual
2
Record transactions in journal
Manual
Manual data entry includes manual electronic coding
3
Post to Ledger accounts
Manual
Automatic
4
Prepare Unadjusted Trial Balance
Manual
Automatic
5
Journalize adjusting entries
Manual
Manual
6
Post adjusting entries
Manual
Automatic
7
Prepare adjusted Trial Balance
Manual
Automatic
8
Journalize closing entries
Manual
Automatic
9
Post closing entries
Manual
Automatic
10
Prepare post-closing […]
Question On Computerized Accounts
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 […]
Internal Control In A Manual And Computerized Accounting Environment ( Part 3)
The following are some of the controls in a Manual and Computerized Accounting System:
Controls In Manual Accounting System
· Independent reconciliation of external data like using bank statement to reconcile to the company’s bank account or using external supplier statement of account to reconcile with our individual creditor account;
· Using Control or Total Account
· Review of the […]
What Are The Advantages And Disadvantages of Computerised Accounting Systems (Part 2)
The advantages and disadvantages are as follows:
Advantages
· Faster and efficient in processing of information;
· Automatic generation of accounting documents like invoices, cheques and statement of account;
·With the larger reductions in the cost of hardware and software and availability of user-friendly accounting software package, it is relatively cheaper like maintaining a manual accounting system;
· More timely information can […]
Characteristic And The Difference Between Batch And Online Processing (Part 1)
Nowadays, the modern accountant needs to know how computerized accounting systems work so that these systems can meet the needs of the organization and the users
Characteristics of Computerized Accounting System
· All accounting systems follow the same sequence of Input to Processing to Output and
· Transaction data need to be entered only once at the input […]
Factors To Consider When Buying A Small Business Accounting Software
When choosing an appropriate accounting software, it is critical that we should plan ahead as a smart business decision will later save us plenty of time and money in the future.
The following includes some of the factors to consider when buying a small business accounting software
1. Scalability
It is always very important to remember that as […]
May 17, 2008
- Individual Cost Of Capital-Common Stocks
- Factors Affecting A Company’s Cost Of Capital
- Basic Understanding Of Cost Of Capital/Weighted Average Cost Of Capital
- Goals Of The Firm
- Working Capital Management:Extending Credit Terms To Increase Sales
- What is Cash Management & Motives/Reasons To Hold Cash
- Functions Of Finance Manager
May 15, 2008


