Presentator – Respected Biju KR
The advancements in information technology have eventually led to the introduction of computerized accounting systems in displacement of manual accounting system in corporate reporting to help produce relevant and faithful representative financial reports for both management and external users for decision making. Computerized accounting allows users to input information into accounting software programs. Computerized accounting produces information much faster than manual accounting system. Manual accounting systems are prone to mathematical errors and misplaced numbers. With a computerized accounting system, company data is automatically calculated based on numbers of input data. Information from your journal entries helps formulate company’s financial statements. A computerized accounting system may save on man hours used for creating financial statements and other reports. Reports are created in a timely manner when using a computerized accounting system. Reports generated from computerized accounting software allow managers to run the company in a more efficient manner.
Merits of Computerized Accounting Systems
Computerized packages can quickly generate all types of reports needed by management for instance budget analysis and variance analysis. Data processing and analysis are faster and more accurate which meets the managers need for accurate and timely information for decision making. Computerized accounting system allow managers to easily identify and solve problems instantly.
Demerits of Computerized Accounting System
Prolonged or improper computer use can lead to injuries or disorders of the hands, wrists, elbows, eyes, neck and back. Computers users can protect themselves from these health risks through proper workplace design, good posture while at the computer, and appropriately spaced work breaks. Individuals suffering from technology overload fell distressed when deprived of computers and mobile devices. Computers have improved productivity in many ways and created an entire industry with hundreds of thousands of new jobs, the skills of millions of employees have been replaced by computers.
About ISBR:
ISBR Business School, Bangalore-based, Top Class B School for PGDM or MBA, Consistently ranked as best B School in India, AICTE-CII Platinum Catagory, with multiple specializations.