1 Computerized Accounting System:
A computerized accounting system is an accounting information system that processes financial transactions and events to produce reports as per user requirements.
It is based on the concept of a database and has two basic requirements:
(a) Accounting framework and
(b) Operating Procedure.
2 Advantages of Computerised Accounting System :
• Speed • Accuracy• Reliability • Up-to-date• Scalability • Legibility• Efficiency • Quality Report• MIS Reports • Real-time user interface• Storage and Retrieval • Motivation and Employees interest• Automated document production
3 Limitations of Computerised Accounting System :
• Cost of training • Staff Opposition• Disruption • System failure
• Breaches of security • Ill-effects on health• Inability to check
unanticipated errors
4 Categories of Accounting Packages :
• Ready-to-Use • Customised• Tailored
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