Role of Computers in Accounting

Accounting is the methodical and full recording of financial transactions relating to a business, and it also denotes to the procedure of briefing, examining and evaluating these transactions to cross checking agencies and tax collection agencies. Accounting is one of the key purposes for nearly any company. It may be done by an auditor and accountant at small businesses or by substantial finance subdivisions with lots of employee’s at

The ALU performs mathematical, logical, and decision operations in a computer and is the final processing performed by the processor.

For as long as businesses have existed, so has accounting. With time, it has become more complicated and detailed, but it is still a process of keeping financial accounts in order. Through accounting, or financial reporting, a system is set up to keep track of, maintain and audit the financial proceedings. Because accounting and financial reporting of a business is so important for its accuracy and in general, a lot of ethical, technological and legal concerns are involved. In this paper, we will look identify and explore the concerns of each of these.

The purpose of this report is to present an analysis of Jungle Books’ accounting information system, and finding its inefficiencies, internal control weakness in its expenditure cycle .Also, understanding the importance of these problems, and attempt to solving them without merely adding employees or staffs.

In today's time the accounting and book keeping ranges from the old way of paper and pen to extremely large accounting data base systems for the major companies and organizations around the world; although either system could be used but

In the modern business today, there is no more manual accounting. Instead a lot of companies and businesses all over the world are trying to use and adapt by having an accounting system that is computerised, less hassle and fast processing.

Answer all of the following learning objectives in writing (hand-written only please). These are to be answered in full sentences not bullet points. Think of this as writing paragraphs for each of these objectives. If additional space is needed, use the back of the page. Make sure that you are including facts, names, specific dates, and of course important statistics to give a complete answer to the objective. Also, include and UNDERLINE any of the BOLD VOCABULARY TERMS from the corresponding sections. Only full and complete answers will receive full credit.

Financial systems are very important in generating current financial position of the company. This is through the use accounting procedures and principles which are used in the preparation of accounting records. The current status of accounts shows changes which had been made foe every disbursement (Watson and Head, 2012). The accounting systems such as automated management system ensure that the company receives instantaneous feedback. This reduces the errors which could have been reflected in the financial statements by correcting accounts which fails to balance or in case of over distribution of resources (Jones and Atwal, 2009). The availability of financial resource management systems also is important in producing accurate financial reports which reflects true states of affairs and therefore the users of the financial statements can rely on them for decision making.

An accounting information system – its principles and components- Control principle prescribes that an accounting information system have internal controls. Internal controls are methods and procedures allowing managers to control and monitor business activites. Relevance principle prescribes that an accounting information system report useful, understandable, timely and pertinent information for effective decision making. The compatibility principle prescribes that an accounting information system conform with a company’s activities, personnel, and structure. The flexibility principle prescribes that an accounting information system be able to adapt to changes in the company, business environment, and needs of decisions makers. The cost-benefit principle prescribes that the benefits from an activity in an accounting information system outweight the costs of that activity. The five basic components of an accounting information system are source documents, input devices, information processors, information storage, and output devices.

In this assignment I will be comparing the benefit of using manual and computerised accounting system to record business transactions.

Accounting is the heart and soul of executing a successful business. Accounting is used to provide record for all items that are paid and received for a business over any period of time. Within the purpose of accounting lies the need to provide continuity and sustainability within a business, without it a business will not thrive. The information obtained is kept on record, in order to give insight to upper management on data concerning the daily revenue and expenses of that business. This data is needed to not only inform the employees of the business, but also the investing parties of that business as well. Success in business is equated to being accountable of all aspects of revenue and expenses. To

Most modern CPUs are microprocessors, meaning they are contained on a single integrated circuit (IC) chip. An IC that contains a CPU may also contain memory, peripheral interfaces, and other components of a computer; such integrated devices are variously called microcontrollers or systems on a chip (SoC). Some computers employ a multi-core processor, which is a single chip

Modern accounting systems have become the foundation from which the modern organization can rely and depend upon to maintain a strong efficient strategy that will help the organization grow. The modern accounting systems embraces the old accounting practices that have been used for hundreds of years and builds upon that platform to give modern organizations control over the finances. There must be set in place internal controls to keep the company assets from being stolen and that is why modern accounting systems utilizes many internal controls with the organization. The modern accounting system is one of the most valuable assets that a modern organization has in its possession because modern accounting systems make better use of the

In order to store something in the main memory, it must first be input through the keyboard or mouse or other input device. A keyboard is designed to enter text, numbers, or punctuation. It is the main input device on most PC’s. The mouse is a pointing device used to select, point, and click on a computer screen. The keyboard and mouse are used to send information to the CPU. This information is translated through other devices called output devices such as the monitor. This

The computer will be of no use unless it is able to communicate with the outside world. Input/Output devices are required for users to communicate with the computer. In simple terms, input devices bring information INTO the computer and output devices bring information OUT of a computer system. These input/output devices are also known as peripherals since they surround the CPU