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COMPUTERISED ACCOUNTING Computerized accounting is  the use of accounting software to record, store, and process financial transactions electronically, replacing manual methods like ledgers . This system automates tasks like invoicing and payroll, leading to increased accuracy, efficiency, and faster reporting. 🔽ADVANTAGES 🔽 1.Speed and efficiency:  Tasks like data entry, calculations, and report generation are much faster, saving significant time compared to manual methods.  2.Accuracy:  Automation reduces human error from manual calculations and data entry, leading to more reliable financial records.  3.Real-time data:  Financial information is updated immediately, providing up-to-date insights for better and more timely decision-making.  4.Automated reporting:  Generating financial statements like profit and loss accounts and balance sheets becomes an instant process.  5.Reduced paperwork and storage:  Storing records el...

🪧 ONLINE BANKING 🔽  Internet banking allows a user to conduct financial transactions via the Internet. 🔽 Internet banking is also known as online banking or web banking. Features of Internet Banking 1.The customer can view account statements. 2.It is 24 x 7 services. 3.The customer can check the history of the transactions. 4.The customer can buy and sell on e-commerce platforms. MOBILE APPLICATION BANKING Mobile banking is a service that allows a bank's customers to conduct financial transactions using a mobile device.  CORE BANKING 👉Core Banking System (CBS) refers to a common IT solution wherein a central shared database supports the entire banking application.  👉It allows theuse various banking facilities irrespective of the bank branch location.   characteristics   1.There is a common database  2.Branches function as delivery channels providing services to its customers. 3. centralized Banking Application software...

INTERNET VULNERABLE 🔽A vulnerability is a weakness in an IT system that can be exploited by an attacker to deliver a successful attack.  🔽They can occur through flaws, features or user error, and attackers will look to exploit any of them, often combining one or more, to achieve their end goal. 🔽The internet is vulnerable due to weaknesses, known as vulnerabilities, in hardware, software, and user behavior that cybercriminals can exploit to steal data or disrupt services. 🔽 Common vulnerabilities include unpatched systems, misconfigured network devices like routers, and weak passwords.  HACKING hacking is the act of exploiting vulnerabilities to gain unauthorized access to a computer system, network, or digital device for various purposes, including data theft, system disruption, or manipulation. DATA THEFT Data theft in cybersecurity is the unauthorized access and copying, transfer, or retention of sensitive personal, financial, or proprietary info...

The IT Act 2000 , or The Information Technology Act, 2000, is India's primary law that governs cybercrime and electronic commerce by providing legal recognition for digital transactions, promoting electronic filing with government agencies, and amending existing laws to accommodate digital communication. The IT Act 2000 is India's primary law for electronic commerce and cybercrime, enacted to provide legal recognition to electronic records and digital signatures, and to prevent cybercrimes and electronic fraud. 🔽SCOPE OF  IT Act, 2000:🔽 Legal Recognition of Electronic Transactions:  It makes electronic commerce and other electronic communication methods legally valid, providing an alternative to traditional paper-based methods.  Digital Signatures:  The Act recognizes digital signatures as the legal equivalent of physical signatures, allowing for the verification of electronic documents.  Electronic Filing with Government Agencies:  It facilitates the ele...

ELECTRIC MARKET PLACE An electronic marketplace (e-marketplace) is a digital platform connecting multiple buyers and sellers to conduct transactions, exchange information, and collaborate online for goods and services. These platforms, such as Amazon or eBay, host various vendors and serve as a single point of access for them to find customers and for buyers to find products.  FEATURES Wide product selection : Buyers can find a diverse range of products from various sellers in one location Price comparison : The platform offers real-time price comparison across different vendors, allowing buyers to find the best deals.  Search and filtering : Advanced search functions with filters help buyers quickly locate the specific items they need.  Reviews and ratings : User-generated content like reviews and ratings build trust and help buyers make informed decisions.  Convenient shopping : A one-stop shopping experience simplifies the process of buying multiple item...