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.
Popular Questions of Class 11 Accountancy
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Name any two types of commonly used negotiable instruments.
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Briefly state how the cash book is both journal and a ledger.
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State the meaning of a trial balance?
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State the need for the preparation of bank reconciliation statement?
Recently Viewed Questions of Class 11 Accountancy
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Mr. Sunrise started a business for buying and selling of stationery with ₹ 5,00,000 as an initial investment. Of which he paid ₹ 1,00,000 for furniture, ₹ 2,00,000 for buying stationery items. He employed a sales person and clerk. At the end of the month he paid ₹ 5,000 as their salaries. Out of the stationery bought he sold some stationery for ₹ 1,50,000 for cash and some other stationery for ₹ 1,00,000 on credit basis to Mr. Ravi. Subsequently, he bought stationery items of ₹ 1,50,000 from Mr. Peace. In the first week of next month there was a fire accident and he lost ₹ 30,000 worth of stationery. A part of the machinery, which cost ₹ 40,000, was sold for ₹ 45,000.
From the above, answer the following :
1. What is the amount of capital with which Mr. Sunrise started business?
2. What are the fixed assets he bought?
3. What is the value of the goods purchased?
4. Who is the creditor and state the amount payable to him?
5. What are the expenses?
6. What is the gain he earned?
7. What is the loss he incurred?
8. Who is the debtor? What is the amount receivable from him?
9. What is the total amount of expenses and losses incurred?
10. Determine if the following are assets, liabilities, revenues, expenses or none of the these: sales, debtors, creditors, salary to manager, discount to debtors, drawings by the owner. - Q:-
Describe the informational needs of external users.
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Write two points of distinction between bills of exchange and promissory note.
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If the trial balance agrees, it implies that:
(a) There is no error in the books.
(b) There may be two sided errors in the book.
(c) There may be one sided error in the books.
(d) There may be both two sided and one sided errors in the books. - Q:-
Discuss the concept-based on the premise do not anticipate profits but provide for all losses.
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Describe the advantages of sub-dividing the Journal.
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State the various essential features of an accounting report.
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State any four essential features of bill of exchange.
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State the meaning of incomplete records?
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Give a specimen of an account.
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