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Accounting (Text Only)

26th Edition
Carl Warren + 2 others
ISBN: 9781285743615

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BuyFindarrow_forward

Accounting (Text Only)

26th Edition
Carl Warren + 2 others
ISBN: 9781285743615
Textbook Problem
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What happens to the special journal in a computerized accounting system that uses electronic forms?

To determine

Explain the impact of using electronic form for special journal in a computerized accounting system.

Explanation

Computerized Accounting Systems: Computerized Accounting System is used by all the forms of the companies for its three main advantages over manual systems. They are:

  1. It simplifies the record keeping process by recording transactions in electronic journals or forms and simultaneously posting them to the respective ledgers.
  2. This system is more accurate compared to the manual one.
  3. It provides the management about the status of accounts (balances) that helps the management in proper decision making...

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