[Option II] Question 11 (Choice 2) [Computerized Accounting]

Last updated at April 16, 2024 by

State any three advantages of computerized accounting system.

Answer

Advantages of Computarized Accounting Systems :-

(a) LARGE VOLUME OF TRANSACTIONS - In the present- day business environment,

the transactions of a business are normally large in volume. The computerised accounting system can store and process such voluminous transactions with speed and accuracy.

 

(b) TIMELY REPORTING - Availability of reports on time enables the management to take quick decisions, which is an important element for the successs of an enterprise.

 

(c) LESS PAPER WORK - Under the computerised process, there is less paper work as compared to the paper work in the manual process.

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Transcript

State any three advantages of computerized accounting system. Answer Advantages of Computarized Accounting Systems :- (a) LARGE VOLUME OF TRANSACTIONS - In the present- day business environment, the transactions of a business are normally large in volume. The computerised accounting system can store and process such voluminous transactions with speed and accuracy. (b) TIMELY REPORTING - Availability of reports on time enables the management to take quick decisions, which is an important element for the successs of an enterprise. (c) LESS PAPER WORK - Under the computerised process, there is less paper work as compared to the paper work in the manual process.

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Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years and a teacher from the past 18 years. He teaches Science, Economics, Accounting and English at Teachoo