Computerised Accounting
Name: Danielle Nolloche
Teacher: Mrs. John
Date Due: October 31st, 2011
Form: 5
Acknowledgements
I would like to express my greatest gratitude to the persons who have helped and supported me through out this project. I would like to thank my parents for the encouragement to complete this project. I will also like to thank my teacher for guidance and all other friends and family who assisted in any way.
Table of Contents Acknowledgements Introduction to project Advantages and Disadvantages of using a computerized accounting system………………………………………………………………...……1 Factors taken into consideration before using a computerized Accounting …………………………………………………………..……3 Synopsis of programmes used in computerized accounting ……………...4 The Impact Of I.T in The future Accounting ……………………………..5 Glossary………………………………………………………………….6
Introduction
Advancement in Information technology has a prevalent impact on the accounting system procedures and skills required of an accountant. An understanding of information system is now a necessity as more businesses embark on computerized systems to reap the benefits of efficiency, accuracy and information technologies.
Advantages of using a computerized accounting system
• Provides reports efficiently-There’s better use of recourses and time. Cash flow should improve through better debt collection and inventory control.
• Accuracy it minimizes the amount of human errors in posting. If an error occurs in the data that has been inputted
• Speed – data entry onto the computer with its formatted screens and built-in databases of customers and supplier details and stock records can be carried out far more quickly than any manual processing.
• Availability of information – the data is instantly available and can be made available to different users in different locations at the same time.
• Cost savings – computerized accounting
Teacher: Mrs. John
Date Due: October 31st, 2011
Form: 5
Acknowledgements
I would like to express my greatest gratitude to the persons who have helped and supported me through out this project. I would like to thank my parents for the encouragement to complete this project. I will also like to thank my teacher for guidance and all other friends and family who assisted in any way.
Table of Contents Acknowledgements Introduction to project Advantages and Disadvantages of using a computerized accounting system………………………………………………………………...……1 Factors taken into consideration before using a computerized Accounting …………………………………………………………..……3 Synopsis of programmes used in computerized accounting ……………...4 The Impact Of I.T in The future Accounting ……………………………..5 Glossary………………………………………………………………….6
Introduction
Advancement in Information technology has a prevalent impact on the accounting system procedures and skills required of an accountant. An understanding of information system is now a necessity as more businesses embark on computerized systems to reap the benefits of efficiency, accuracy and information technologies.
Advantages of using a computerized accounting system
• Provides reports efficiently-There’s better use of recourses and time. Cash flow should improve through better debt collection and inventory control.
• Accuracy it minimizes the amount of human errors in posting. If an error occurs in the data that has been inputted
• Speed – data entry onto the computer with its formatted screens and built-in databases of customers and supplier details and stock records can be carried out far more quickly than any manual processing.
• Availability of information – the data is instantly available and can be made available to different users in different locations at the same time.
• Cost savings – computerized accounting