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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‘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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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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Write the process of preparing ledger from a journal.
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Goods purchased on cash are recorded in the :
(i) Purchases (journal) book
(ii) Sales (journal) book
(iii) Cash book
(iv) Purchases return (journal) book - Q:-
Which of the following is correct :
(i) Operating Profit = Operating profit – Non-operating expenses – Non-operating incomes
(ii) Operating profit = Net profit + Non-operating Expenses + Non-operating incomes
(iii) Operating profit = Net profit + Non-operating Expenses – Non-operating incomes
(iv) Operating profit = Net profit – Non-operating Expenses + Non-operating incomes - Q:-
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- Q:-
State whether the following statements are true or false:
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- The main cause of depreciation is wear and tear caused by its usage.
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Describe the brief history of accounting.
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