Compare and contrast the differences and similarities between a manual accounting system and a computerized accounting...

Compare and contrast the differences and similarities between a manual accounting system and a computerized accounting system. Some considerations include the speediness between the two, the ability to generate quick reports, and what if your software crashes. What would you do then?

Solutions

Expert Solution

Manual accounting system and Computerized accounting system -

Meaning -

Manual accounting system - Manual Accounting is a system of accounting that uses physical registers and account books, for keeping financial records

Computerized accounting system - Computerized Accounting is an accounting system that uses an accounting software, for recording financial transactions electronically.

Speed -

Manual accounting system - Slow

Computerized accounting system - Comparatively faster

Calculation -

Manual accounting system - All the calculation is performed manually

Computerized accounting system - Only data input is required, the calculations are performed by computer system.

Technical Issues -

Manual accounting system - Not Possible.

Computerized accounting system - Huge chances of getting technical error in computerised accounting system. If back ups are taken on timely manner then there will not be any problem but otherwise it will become huge impact.

Expensive -

Manual accounting system - Relatively less expensive

Computerized accounting system - Expensive as compare to manual accouting

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

Compare and contrast a manual accounting system with a computerized accounting system for processing vendor transactions....

Compare and contrast a manual accounting system with a computerized accounting system for processing vendor transactions. What uses are there for using the Vendor Balance Summary and A/P Aging Summary Reports? Why is the balance in Merchandise Inventory different than the balance in Accounts Payable? Include at least one reference from an online resource.

Compare and contrast a manual accounting system with a computerized accounting system for processing customer transactions....

Compare and contrast a manual accounting system with a computerized accounting system for processing customer transactions. Include an explanation of how the accounts receivable subsidiary ledger compares with the Customer List.

Compare and contrast the differences and similarities between tariffs and quotas

Compare and contrast the similarities and differences between the PROCESSES of spermatogenesis and oogenesis.

What are the benefits of using a computerized accounting system over a manual system?

Interactions: A. What are the differences and similarities between mutualism and synergism? B. Compare and contrast...

Interactions: A. What are the differences and similarities between mutualism and synergism? B. Compare and contrast the following two interactions Interaction 1: Legumes and Rhizobia Interaction 2: Ammonia-oxidizing bacteria and nitrite-oxidizing bacteria Tip: Important points to look at can be kind of interaction, interacting partners, energy sources for the interacting partners, who is providing what to the others and benefits of the interaction for each partner, interesting facts.

Question