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Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127

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BuyFindarrow_forward

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127
Textbook Problem

What limitations are faced by contemporary accounting systems applying traditional GL account structures?

Summary Introduction

To explain: The limitations faced by contemporary accounting that are applying to the traditional GL structures.

Introduction:

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

Explanation

The limitations faced by contemporary accounting that are applying to the traditional GL structures:

  • In the presence of new systems, the financial and non-financial information are not found together. In traditional accounting systems, all this information is not present as a group...

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