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    Significance of Computerized Accounting System

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    Ravi Kumar
    This document discusses the significance of computerized accounting systems. It outlines how accounting systems gather, process, and summarize financial information into reports. Computerized accounting systems provide fast, powerful, scalable, and accurate accounting that enhances user experience and business performance through quick decision making and complete visibility. The key benefits are automation, integration, speed, reliability, and improved business processes that allow companies to access information faster. While computerized accounting has advantages, it also has limitations such as transaction orientation and limited flexibility for ad hoc reports.

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    Significance of Computerized Accounting System

    Uploaded by

    Ravi Kumar
    4K views16 pages
    This document discusses the significance of computerized accounting systems. It outlines how accounting systems gather, process, and summarize financial information into reports. Computerized accounting systems provide fast, powerful, scalable, and accurate accounting that enhances user experience and business performance through quick decision making and complete visibility. The key benefits are automation, integration, speed, reliability, and improved business processes that allow companies to access information faster. While computerized accounting has advantages, it also has limitations such as transaction orientation and limited flexibility for ad hoc reports.

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    This document discusses the significance of computerized accounting systems. It outlines how accounting systems gather, process, and summarize financial information into reports. Computerized accounting systems provide fast, powerful, scalable, and accurate accounting that enhances user experience and business performance through quick decision making and complete visibility. The key benefits are automation, integration, speed, reliability, and improved business processes that allow companies to access information faster. While computerized accounting has advantages, it also has limitations such as transaction orientation and limited flexibility for ad hoc reports.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    4K views16 pages

    Significance of Computerized Accounting System

    Uploaded by

    Ravi Kumar
    This document discusses the significance of computerized accounting systems. It outlines how accounting systems gather, process, and summarize financial information into reports. Computerized accounting systems provide fast, powerful, scalable, and accurate accounting that enhances user experience and business performance through quick decision making and complete visibility. The key benefits are automation, integration, speed, reliability, and improved business processes that allow companies to access information faster. While computerized accounting has advantages, it also has limitations such as transaction orientation and limited flexibility for ad hoc reports.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 16

    Significance of Computerized

    Accounting System

    Archana. C
    The Accounting System
    • Accounting is the method in which financial
    information is gathered, processed, and
    summarized into financial statements and
    reports. An accounting system can be
    represented by the following graphic.
    Cont…
    • The purpose of accounting is to provide
    information used in decision making.
    Accounting may be viewed as a system (a
    process) that converts data into useful
    information.
    • Information processes include:
    – Recording
    – Maintaining
    – Reporting
    Salient Features of Computerized
    accounting
    • Fast, Powerful, Simple and Integrated
    • Complete Visibility
    • Enhanced User Experience
    • Accuracy, Speed
    • Scalability
    • Power
    • For Improved Business Performance
    • Quick Decision Making
    • Complete Reliability
    Fast, Powerful, Simple and Integrated
    • Computerized accounting is designed to automate
    and integrate all the business operations, such as
    sales, finance, purchase, inventory and
    manufacturing.
    • With Computerized accounting, accurate, up-to-date
    business information is literally at the fingertips.
    • The Computerized accounting combine with
    enhanced MIS, Multi-lingual and Data organization
    capabilities to help the company simplify all the
    business processes easily and cost-effectively.
    Complete Visibility
    • Computerized accountings giving the
    company sufficient time to plan, increase the
    customer base, and enhance customer
    satisfaction.
    • With Computerized accounting the company
    will have greater visibility into the day-to-day
    business operations and access to vital
    information.
    Enhanced User Experience
    • Computerized accounting allows the company
    to enter data in a variety of ways which makes
    work a pleasure.
    • Adapting to the specific business needs is
    possible.
    Accuracy, Speed

    •  Computerized accounting has User-definable


    templates which provides fast, accurate data
    entry of the transactions;
    • Thereafter all documents and reports can be
    generated automatically, at the press of a
    button.
    Scalability

    • Computerized accounting adapts to the current


    and future needs of the business, irrespective
    of its size or style.
    Power
    • Computerized accounting has the ability to
    handle huge volumes of transactions without
    compromising on speed or efficiency.
    For Improved Business Performance

    • Computerized accounting is a highly integrated


    application that transforms the business processes
    with its performance enhancing features which
    encompass accounting, inventory, reporting and
    statutory processes.
    • This helps the company access information faster,
    and takes quicker decisions.
    • Computerized accounting also guarantees real-time
    optimization of operations and enhanced
    communication.
    Quick Decision Making

    • Generates real-time, comprehensive MIS


    reports and ensures access to complete and
    critical information, instantly.
    Complete Reliability
    • Computerized accounting makes sure that the
    critical financial information is accurate,
    controlled and safe from data corruption.
    Advantages of Computerized accounting

    • Automation of tedious clerical jobs


    • Speed and accuracy
    • Low cost of packages
    • Automatic generation of standard reports
    • Redundant data storage permits efficient
    generations of some reports
    • Increase revenue while lowering operating costs
    and enhancing competitive advantage of the
    company.
    Disadvantages of Computerized accounting

    • Transactions orientation only


    • Periodic not real time reporting
    • Limited flexibility for ad hoc reports
     
    Thank You

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