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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What is ‘Depreciation’?
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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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Define accounting.
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State the different elements of a computer system.
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Why is it necessary for accountants to assume that business entity will remain a going concern?
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State the need for the preparation of bank reconciliation statement?
Recently Viewed Questions of Class 11 Accountancy
- Q:-
Depreciation written off on furniture 1,500 was not posted to depreciation account.
This is an error of ..................................
The wrong effect has been:The correct effect should have been:
The rectification entry will be.
- Q:-
Complete the following sentences with appropriate words:
(a) Information in financial reports is based on .....................
(b) Internal users are the ..................... of the business entity.
(c) A ..................... would most likely use an entities financial report to determine whether or not the business entity is eligible for a loan.
(d) The Internet has assisted in decreasing the ..................... in issuing financial reports to users.
(e) ..................... users are groups outside the business entity, who uses the information to make decisions about the business entity.
(f) Information is said to be relevent if it is ......................
(g) The process of accounting starts with ............ and ends with ............
(h) Accounting measures the business transactions in terms of ............ units.
(i) Identified and measured economic events should be recording in ............ order. - Q:-
You are a senior accountant of Ramona Enterprises Limited. What three steps would you take to make your company’s financial statements understandable and decision useful?
1. ——————————————————————————————
2. ——————————————————————————————
3. ——————————————————————————————[Hint : Refer to qualitative characteristics of accounting information]
- Q:- What do you mean by an asset and what are different types of assets?
- Q:-
What is a journal? Give a specimen of journal showing at least five entries.
- Q:-
Sales returns from Megha 1,600 were posted to her account as 1,000.
This is an error of ..................................
The wrong effect has been:The correct effect should have been:
The rectification entry will be.
- Q:-
Total of these transactions is posted in purchase account :
(i) Purchase of furniture
(ii) Cash and credit purchase
(iii) Purchases return
(iv) Purchase of stationery - Q:-
Name three components of a Transaction Processing System.
- Q:-
Differentiate between source documents and vouchers.
- Q:-
Trial balance is:
(a) An account.
(b) A statement.
(c) A subsidiary book.
(d) A principal book.
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