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🛑COMPUTERISED ACCOUNTING SYSTEM 


The computerised accounting system is an accounting data system that processes the financial transactions and transactions as per GAAP (Generally Accepted Accounting Principles) to produce reports as per user demands. Every accounting system, either computerised or manual, has two (2) aspects. First, it has to work under a set of well-defined theories known as accounting principles. Another, that there is a user-defined structure for the maintenance of records and the creation of reports.

In a computerised accounting system,  the structure of storage and processing of data is known as an operating environment that comprises of hardware as well as software in which the accounting system, works. The kind of accounting system used defines the operating environment. Both hardware and software are interdependent. The type of software defines the formation of the hardware. Further, the choice of hardware is reliant upon many factors such as the number of users, level of privacy and the nature of multiple activities of operational departments in an organisation


Special Features of Computerized Accounting System:

1. It leads to quick preparation of accounts and makes available the accounting statements and records on time.

2. It ensures control over accounting work and records.

3. Errors and mistakes would be at minimum in computerized accounting.

4. Maintenance of uniform accounting statements and records is possible.

5. Easy access and reference of accounting information is possible.

6. Flexibility in maintaining accounts is possible.

7. It involves less clerical work and is very neat and more accurate.

8. It adapts to the current and future needs of the business.

9. It generates real-time comprehensive MIS reports and ensures access to complete and critical information instantly.


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