• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

The use of ICT in accounting

Extracts from this document...


ZABER MOHAMMED THE USE OF ICT IN ACCOUNTING OF WHAT GREAT IMPORTANCE IS THE USE OF ICT IN ACCOUNTING? STOCK CONTROL Computerised stock control systems run on similar principles to manual ones, but they are more flexible and information is easier to retrieve. You can quickly get a stock valuation or find out how well a particular item of stock is moving. A computerised system is a good option for businesses dealing with many different types of stock. Other useful features include: * Stock and pricing data integrating with accounting and invoicing systems. All the systems draw on the same set of data, so you only have to input the data once. Sales Order Processing (SOP) and Purchase Order Processing (POP) can be integrated in the system so that stock balances and statistics are automatically updated as orders are processed. * Automatic stock monitoring, triggering orders when the re-order level is reached. * Automatic batch control if you produce goods in batches. * Identifying the cheapest and fastest suppliers. * Bar coding systems which speed up processing and recording. The software will print and read bar codes from your computer. The system will only be as good as the data put into it. A thorough stocktake is recommended before publishing results. ...read more.


there are more deeper reasons: * Published accounts can be sent electronically via email, than the more risky convention of using the royal mail. * Mistakes can be rectified more efficiently and quickly. * A 40 GB hard drive can hold up to a potential of two million documents. * More and more accounting firms are using this method more, which means certain restrictions/ access might be integrated into that system, which could eventually mean the phasing out of the older methods. The most important point however is the birth of specialist computer accounting packages, such as Microsoft Office and SAGE accounting; these packages take further shortcuts by already implementing templates and specific layouts. Also as more of these packages are bought, the software design teams phase out errors in previous packages and can also make the software user friendly. By making the packages user friendly, the employees do not need to have a vast knowledge of bookkeeping and accounts in order to input data. This can also have a negative effect because if an accounting opinion is required, then someone who has lesser knowledge and relies on the computer could make more mistakes than a more experienced accountant. Another benefit of a computerized accounting system is that if information is electronically stored, then certain boundaries can be applied to a pc as opposed to a ledger, i.e. ...read more.


A SPECIALIST COMPUTER ACCOUNTING PACKAGE! I have mentioned above an accounting package entitled SAGE Accounting. SAGE Accounting is fundamental to every accountant using a computer because it implements so much tools that a changing business can use such as; accounts, payroll and forecasting. Though recommended that a business employ a qualified accountant, SAGE Accounting is a good tool to use for a business as well. This software provides step by step instructions from basic bookkeeping to creating final accounts, so as well as doing the work, it is also teaching you how to do the work as well. SAGE also has an interactive feedback function, so you can either go onto their website and view FAQ'S, or you can send an email regarding a specific problem, or you can even phone their 24hr support team, or you can even click on help. Most people would assume that this piece of software is targeted for say a person who has a rough idea of accounting, or a large business, or a small business, but this piece of software can be used by almost anybody. It has all the features that a large business needs (as well as having all the features that a small business needs) and with its user friendly interface can be used with great efficiency. ?? (footnote continued) 4 5 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. The Role of ICT.

    Personal qualities for ICT professionals To rise to the top as an ICT professional, you will need more than technical knowledge and the right qualifications. A browse through a single day's advertisements for jobs in ICT will soon throw up commonly required characteristics in prospective employees.

  2. The Use of Geographical Information Systems (GIS) And International Technology Transfer by Non-Governmental ...

    (Hasting and Clark 1991). This led to DRI to acquire raster and vector systems in early 1989. Training was produced By USAID during the period of the project official project life. . GLOBAL RESOURCES INFORMATION DATABASE (GRID), NAIROBI KENYA. The UNEP /GEMS/ GRID was established in 1983 to give users

  1. kanthal - accounting

    With access to detailed cost information Mr. Ridderstrale hoped to reallocate the company's resources to customers with hidden profits and reduce efforts for customers with hidden losses. Given Kanthal's current accounting system, it is clear to understand why Mr. Ridderstrale recognized the opportunity to increase bottom line profits without acquiring additional resources.

  2. Adrian is currently running Gunner Pass with no other employees. So he does not ...

    Field, or primary research is when new data is obtained for a specific purpose, this can be provided by the marketing department of a firm. Data is usually gathered by surveys, (face-to-face, telephone, or by post.) An advantage of field research is that the firm can have control over the

  1. Financial Accounting

    Design is part of the research and development (R&D) function, which is vital to organisations wishing to radically develop their product range. The nature of design teams depends on the product or service being designed. The skills and talents of a car design team are clearly very different from those of a team designing a cover for a magazine.

  2. Computerised Accounts - What are the advantages and limitations of using accounting software and ...

    Quote 2: "A computerised accounting system can be of a great benefit to a business; it will enable the owner to control the business better by streamlining procedures and providing more management information". If the computerised system is for a small business like a sole trader or a partnership, the

  1. The history behind the Boots.

    Due to this less profit is available to expand the business and use where it would be beneficial in contributing to raise the rate and amount of profit possible. In becoming a PLC the Company has to be registered at company house so everyone can find out about them and awareness is raised.

  2. For my Coursework I have looked at how Steve Edwards at Airbus UK uses ...

    ( Email is very simple and easy to use. ( We can send group emails, which is sending the same information to a number of people. ( The email reaches its destination instantly, so it is very quick. ( Emails can be sent and received at any time, day or night.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work