Archive about 'Computers in Accounting'
Tweet Database system is very useful whether in accounting and statistical work as once data being inputed correctly ONCE, this data will be copied accurately to every other record in which it is required. In Database system, data stored in these systems has to be input only ONCE; it is then accessible for any process […]
What is a spreadsheet? Give some examples of its usefulness and also name some spreadsheet applications used in Accounting
Tweet A spreadsheet: A computer program which provides the user with a template of rows and columns via the screen. By using the rows and columns of the template, the user can build financial and statistical models. Where the entries in some of the positions in the template derive from arithmetical operations performed on data […]
Tweet Some of the common computer applications in accounting are: FINANCIAL ACCOUNTING: Sales ledger Purchase ledger General ledger Payroll records Stock records Financial statements like trading & profit & loss account (income statement) & balance sheet MANAGEMENT AND COST ACCOUNTING: Costing calculations and costing records Forecasting or budgeting Estimating job costs Project appraisal Credit control
Describe the advantages/benefits from having a good Computerized Sales Ledger Module. Name the good features that a Computerized Accounting Sales Ledger Module should have.
Tweet COMPUTERIZED ACCOUNTING SALES LEDGER MODULE BENEFITS OR ADVANTAGES Enable management to: produce accurate management information recognize as early as possible debtors who are slowing down payments prevent the chasing of debts already settled identify customers who have reached their credit limit ensure customers comply with any agreed payment schedule GOOD FEATURES OF A COMPUTERIZED […]
What Are the Usual Features, Advantages or Benefits And Examples Of Management Reports Obtained From A Computerized Accounting System.
Tweet Question:I just joined a small company where it is in the midst of acquiring a computerized accounting system. May I know:- (a) What are the usual features that are available in such system (b) Advantages of a computerized accounting system (c ) Give examples of some management reports which are automatically generated. Answer:(a) Some […]
Tweet Append below a listing of topics covered under the heading Computerized Accounting System:- Content Page 1.0 What are the advantages and disadvantages of computerized accounting systems 2.0 Comparison of the steps of an accounting cycle under the Manual system and under the Computerized system. 3.0 Internal Control in a Manual and Computerized Accounting Environment […]
Comparison Of The Steps Of An Accounting Cycle Under The Manual System and Under The Computerized System
Tweet 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 […]
Tweet 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 […]
Tweet 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 […]
Tweet Click here for MORE articles on the subject of Computerized Accounting System ! The advantages and disadvantages of computerized accounting system: 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 […]