Class 11 Accountancy - Chapter Computerised Accounting System NCERT Solutions | ‘Computerised Accounting Systems a
‘Computerised Accounting Systems are best form of accounting system’. Do you agree? Comment.
I do agree with the statement that computerised accounting systems are the best form of accounting system. A computerised accounting system is an accounting information system that processes the financial transactions and events as per Generally Accepted Accounting Principles (GAAP) to produce reports as per user requirements.
As we know that every accounting system, manual or computerised, has two aspects. First, it has to work under a set of well-defined concepts called accounting principles.
Another, that there is a user-defined framework for maintenance of records and generation of reports. Here, it is worth mentioning that the modern computerised accounting systems are based on the concept of database. A database is implemented using a database management system, which is defined by a set of computer programmes(or software) that manage and organise data effectively and provide access to the stored data by the application programmes.
The accounting database is well-organised with an active interface that uses accounting application programs and a reporting system. Computerised accounting is also one of the database-oriented applications wherein the transaction data is stored in a well-organised database.
The user operates on such a database using the required and desired interface and also takes the desired reports by suitable transformations of stored data into information. Therefore, the fundamentals of computerised accounting embrace all the basic requirements of any database-oriented application in computers.
A computerised accounting system provides us speed, accuracy, reliability and helps us in recording, summarising and analysing the accounting transactions with the best suitable method and moreover make the reporting so easy to the top level management. Hence, it can be said that the computerised accounting systems are the best accounting system.
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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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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‘Accounting software is an integral part of the computerised accounting system’ Explain. Briefly list the generic considerations before sourcing an accounting software.
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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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Recently Viewed Questions of Class 11 Accountancy
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Give four examples each of ‘provision’ and ‘reserves’.
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If the opening capital is Rs. 50,000 as on April 01, 2016 and additional capital introduced Rs. 10,000 on January 01, 2017. Interest charge on capital 10% p.a. The amount of interest on capital shown in profit and loss account as on March 31, 2017 will be :
(a) Rs. 5,250 (b) Rs. 6,000
(c) Rs. 4,000 (d) Rs. 3,000 - Q:-
While calculating operating profit, the following are not taken into account.
(i) Normal transactions
(ii) Abnormal items
(iii) Expenses of a purely financial nature
(iv) (ii) & (iii)
(v) (i) & (iii) - Q:-
Fill in the correct word:
1. Recognition of expenses in the same period as associated revenues is called _______________concept.
2. The accounting concept that refers to the tendency of accountants to resolve uncertainty and doubt in favour of understating assets and revenues and overstating liabilities and expenses is known as _______________.
3. Revenue is generally recognised at the point of sale denotes the concept of _______________.
4. The _______________concept requires that the same accounting method should be used from one accounting period to the next.
5. The_______________concept requires that accounting transactions should be free from the bias of accountants and others. - Q:-
Record the rectification entry for the following transactions:
Credit sales to Rajni 5,000 recorded in Purchases book:
This is an error of ..........................................
State the wrong entry recorded in the book of accountsCorrect effect should have been:
The rectification entry will be:
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Draw block diagram showing the main components of a computer.
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What do you understand by ledger folio?
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Give two examples of errors of commission?
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Explain errors of principle and give two examples with measures to rectify them.
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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:
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