The Computerized Accounting System

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The word system does not necessary related to computer or other electronic device . The word actually implies to two or more related components working together to achieve a common purpose . In the simplest explanation , accounting information system is the system of records a business keeps maintaining its accounting system . It is a system of collecting and processing transactions data and disseminating financial .Thus when accountants first started to keep journals for a company, all that was used were pencil and paper, and then came the calculator. Now accounting information system is there to provide all kinds of information to the management. It helps in key management functions of planning, organizing, leading, and evaluating as they…show more content…
Computerized accounting systems are software programs that are stored on a company's computer, network server, or remotely accessed via the Internet.Computerized accounting systems allow you to set up income and expense accounts, such as rental or sales income, salaries, advertising expenses, and material costs. They also can be used to manage bank accounts, pay bills, and prepare budgets. Depending upon the program, some accounting systems also allow you to prepare tax documents, handle payroll, and manage project…show more content…
Accounting systems are comprised of manual or computerized records of financial transactions for the purpose of recording, categorizing, analyzing and reporting timely financial management information. When selecting an accounting system, understand your needs and the categories of accounting systems and features available to you. One of the many accounting information system is Managerial Accounting . The purpose of managerial accounting is to provide managers with information to plan, control and manage the operations of a business. It provides management with the information needed to make important decisions about the business. One type of managerial accounting system is cost accounting. Cost accounting systems record actual costs incurred in delivering a product or service, comparing those costs to standard or planned costs and highlighting variances for investigation and follow up. Another managerial accounting system is lean accounting. Lean accounting involves the examination of processes and related results to determine how to create more value for less cost, eliminating waste of
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