Question

i need a research paper talk about how important for the accounting student to study Computrized Accounting Course OR the importance of Compurtized Accounting course .

Please provide the link of the research paper, i would write the wording in my own i just need a help thank you for the help..

Answer 1

· Automation: Since all the calculations are handled by the software, computerized accounting eliminates many of the mundane and time-consuming processes associated with manual accounting. For example, once issued, invoices are processed automatically making accounting less time-consuming.

· Accuracy: This accounting system is designed to be accurate to the minutest detail. Once the data is entered into the system, all the calculations, including additions and subtractions, are done automatically by software.

· Data Access: Using accounting software it becomes much easier for different individuals to access accounting data outside of the office, securely. This is particularly true if an online accounting solution is being used.

· Reliability: Because the calculations are so accurate, the financial statements prepared by computers are highly reliable.

· Scalable: When your company grows, the amount of accounting necessary not only increases but becomes more complex. With computerized accounting, everything is kept straightforward because sifting through data using software is easier than sifting through a bunch of papers.

· Speed: Using accounting software, the entire process of preparing accounts becomes faster. Furthermore, statements and reports can be generated instantly at the click of a button. Managers do not have to wait for hours, even days, to lay their hands on an important report.

· Security: The latest data can be saved and stored in offsite locations so it is safe from natural and man-made disasters like earthquakes, fires, floods, arson and terrorist attacks. In case of a disasters, the system can be quickly restored on other computers. This level of precaution is taken by Clever Accounting.

· Cost-effective: Since using computerized accounting is more efficient than paper-based accounting, than naturally, work will be done faster and time will be saved. When one considers that Clever Accounting, one of the latest online accounting solutions, starts at a low monthly subscriptionthen computerized accounting really becomes a no-brainer.

· Visuals: Viewing your accounts using a computer allows you to take advantage of the option to view your data in different formats. You can view data in tables and using different types of charts.

Requisites or Pre-requisites

As mentioned earlier in the article, computerized accounting is not a very complicated process. It is beneficial if the organization is fully equipped with the necessary requisites. The requirements for implementing effective computerized accounting are as follows:

An effective accounting policy which determines the financial functions and ethics of the organization.

A computer system with (or without) satisfactory internet connection.

A well-organized accounting database.

Well-trained, efficient and competent accountants who have adequate computer knowledge.

An appropriate accounting software that is compatible with the computer specification as well as the organization’s needs.

A well-established and organized accounting framework and operational strategy.

In case of technical glitches, an alternative accounting software is of paramount importance.

An effective backup arrangement of all accounting database is necessary in order to avoid technical crash and loss of data.

Importance or Need or Significance

Computerized accounting is the need for the hour and is being adopted by domestic as well as global industries. Considering its high demand, it is needed by every organization for the following reason:

It processes data quickly and saves a lot of business time.

Performing large number of business transactions is possible with computerized accounting.

Computer accounting can develop instant financial reports because of its accuracy and speed.

This system of accounting reduces the manpower effort.

Computer accounting reduces the amount of paperwork.

It also ensures the security of accounting information from thefts and frauds.

Accounting information can be stored online (cloud facility) for longer durations. This frees up system space, speeds up the RAM and increases performance.

Benefits or Merits or Advantages

Along with the adoption of computer-based accounting comes many benefits. A few of such benefits of computer accounting are mentioned below:

An overall increase in the level of accuracy, effectiveness and efficiency of the financial statements are accounting reports.

Another key benefit is that this type of accounting reduces operation cost due to errors and repetitive working.

Computerized accounting improves financial performance and efficiency.

It ensures standardization of process and end-results.

Computer-based accounting reduces the frequency of routine errors.

It reduces the investment in training costs.

Financial workflow of the organization will not be hindered by the absence of accountants.

Moreover, this type of accounting portrays that the company is updated and adaptable.

Unique accounting techniques and procedures which are relevant to the particular organization can be created.

Accounting will become significantly independent of manpower.

Complexities or Disadvantages or Demerits

There are disadvantages to adopting the computer-based accounting system. The complexities are discussed below.

This system explicitly steals human jobs as manpower, in particular, is replaced by computers.

The added expense to install a computer/computers is an additional key point.

Furthermore, there is a requirement for special skills among employees performing accounting tasks.

This accounting system will eventually depend entirely on the system. As a result of this, there will arise the added risk of system failure and hindrance of business operations.

Editing of data that has been misplaced under the wrong category can be very challenging.

Spotting of errors that occur in the middle of the accounting process will be difficult to identify and locate.

Since organizations have a lot of workloads, they may not have the resources (time or human) to create backups. Hence, loss of valuable accounting data/information is a high possibility.