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Evaluate the uses and benefits of computers in accounting

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Introduction

EVALUATE THE USES AND BENEFITS OF COMPUTERS IN ACCOUNTING The use of computing in accounting is a very important if a business is to be successful in a highly competitive environment of business. Using computers can perform complex calculations, thus saving time to do all calculations manually. Client data can be stored in database bringing it up fast and efficiently. Automated form filling can be accomplished through computing which can be a time consuming process when done by hand. The introduction of computers in the accounting environment allows accountants to share information and other accountant's knowledge through the Internet. This allows accountants to gain more intelligence from other accountants around the world. Every accountant in a firm can access an accounting database and accounting information which saves time, as less work needs to be carried out. Data can be entered into accounts more easily. ...read more.

Middle

One particular organizational function they facilitate is marketing Such things as invoices, stock checks, purchase orders, prepare payroll, purchase progress reports and other standardized document forms can be exchanged directionally between computer systems instantaneously for automatic processing. This system saves money (it is cheap, paperless and instant) and strengthens relationships between customers and suppliers by providing a good means for useful and vital communication. This can provide management and suppliers with access to relevant and up-to-date marketing information such as buying patterns, profitability evaluations as well as stock levels e.g. if the stock level is low, it can be replenished quickly However, when consideration is given to the time, money and effort saved by computers, the benefits clearly outweigh the drawbacks. Stock control, ICT is needed very badly in accounts because if it wasn't then accountants would find it difficult to manage their stock control. ...read more.

Conclusion

an idea of what might happen they can budget themselves and if they believe that a downfall will occur then they can hold some capital back so that they can prepare for the downfall or whatever is going to happen. The disadvantages of ICT are when doing work things can go wrong such as a virus or a crash, which can mess up your entire system and wipe all your work in seconds and careless use of passwords. E.g. Hacking. The overall objective of computers is to improve the standards of the accounting environment. The computer has not caused any changes to accounting concepts but it has changed the environment of accounting in practice that there must be a fundamental change in the way accounting is taught. As the professional environment of chartered accountancy is constantly updating their knowledge and skills in order to maintain their professional competence ?? ?? ?? ?? 397379 EVALUATE THE USES AND BENEFITS OF COMPUTERS IN ACCOUNTING 2 ...read more.

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