Class 11 Accountancy - Chapter Computerised Accounting System NCERT Solutions | ‘Accounting software is an integra
‘Accounting software is an integral part of the computerised accounting system’ Explain. Briefly list the generic considerations before sourcing an accounting software.
The following factors are usually taken in considerations before sourcing accounting software.
(i) Flexibility: Flexibility is the first and most important thing while selecting the accounting software. The flexibility must be there in data entry and the availability and design of various reports expected from it.
(ii) Cost of Installation and Maintenance: The choice of the software obviously requires consideration of organisation ability to afford the hardware and software. A simple guideline to take such a decision is the cost benefit analysis of the available options and the financing opportunities available to the firm.
(iii) Size of Organisation: The size of organisation and the volume of business transactions do affect the software choices. Small organisations, e.g., in non-profit organisations, where the number of accounting transactions is not so large, may opt for a simple, single user operated software. While, a large organisation may require sophisticated software to meet the multi-user requirements, geographically scattered and connected through complex networks.
(iv) Ease of Adaptation and Training Needs: Some accounting software is user friendly requiring a simple training to the users. However, some other complex software packages linked to other information systems require intensive training on a continuous basis. The software must be capable of attracting users and if it requires simple training, should be able to motivate its potential users.
(v) Utilities/MIS Reports: The MIS reports and the degree to which they are used in the organisation also determine the acquisition of software. e.g., software that requires simply producing the final accounts for cash flow/ratio analysis may be ready-to-use software. However, the software, which is expected to produce cost records, needs to be customized as per user requirements.
More Questions From Class 11 Accountancy - Chapter Computerised Accounting System
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Describe the various types of accounting software along with their advantages and limitations.
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State the four basic requirements of a database applications.
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‘Computerised Accounting Systems are best form of accounting system’. Do you agree? Comment.
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Name the various categories of accounting package.
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Define a computerised accounting system. Distinguish between a manual and computerised accounting system.
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Database is implemented using ........
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A sequence of actions taken to transform the data into decision useful information is called.......
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The framework of storage and processing of data is called as ........
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Give examples of two types of operating systems.
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Give two examples each of the organisations where ‘ready-to-use’, ‘customised’, and ‘tailored’ accounting packages respectively suitable to perform the accounting activity.
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State the need for the preparation of bank reconciliation statement?
Recently Viewed Questions of Class 11 Accountancy
- Q:-
A bank reconciliation statement is mainly prepared for:
(a) Reconcile the cash balance of the cash book.
(b) Reconcile the difference between the bank balance shown by the cash book and bank passbook
(c) Both (a) and (b)
(d) None of these - Q:-
Cash received from Karim 6,000 posted to Nadeem.
This is the error of ........................................
State the wrong entry recorded in the book of accounts:Correct effect should have been:
The rectification entry will be:
- Q:-
Which of the following is not an error of commission:
(a) Overcasting of sales book.
(b) Credit sales to Ramesh 5,000 credited to his account.
(c) Wrong balancing of machinery account.
(d) Cash sales not recorded in cash book. - Q:-
State whether the following statements are True or False :
(a) Journal is a book of secondary entry.
(b) One debit account and more than one credit account in a entry is called compound entry.
(c) Assets sold on credit are entered in sales journal.
(d) Cash and credit purchases are entered in purchasejJournal.
(e) Cash sales are entered in sales journal.
(f) Cash book records transactions relating to receipts and payments.
(g) Ledger is a subsidiary book.
(h) Petty cash book is a book having record of big payments.
(i) Cash received is entered on the debit side of cash book.
(j) Transaction recorded both on debit and credit side of cash book is known as contra entry.
(k) Balancing of account means total of debit and credit side.
(l) Credit purchase of machine is entered in purchase journal. - Q:-
The periodic total of sales return journal is posted to :
(i) Sales account
(ii) Goods account
(iii) Purchases return account
(iv) Sales return account - Q:-
If the rent of one month is still to be paid the adjustment entry will be :
(a) Debit outstanding rent account and Credit rent account.
(b) Debit profit and loss account and Credit rent account.
(c) Debit rent account and Credit profit and loss account.
(d) Debit rent account and Credit outstanding rent account. - Q:-
What is meant by Grouping and Marshalling of assets and liabilities. Explain the ways in which a balance sheet may be marshalled.
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Why is it necessary to record the adjusting entries in the preparation of final accounts?
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Cash sales to Radhika 15,000 was shown as receipt of commission in the cash book.
This is the error of ..............................................
State the wrong entry recorded in the book of accountsCorrect effect should have been:
The rectification entry will be:
- Q:-
Passbook is a copy of:
(a) Copy of customer Account (b) Bank column of cash book
(c) Cash column of cash book (d) Copy of receipts and payments
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