INTRODUCTION TO BUSINESS COMPUTERISED ACCOUNTING

INTRODUCTION TO BUSINESS COMPUTERISED ACCOUNTING

QUESTION ONE (30 marks)

  1. Explain how file maintenance is carried out in an accounting environment (3 marks)
  2. An accounting information system is a specialized subsystem of management information system whose purpose is to collect, process and report information related to financial transactions. Discuss the following elements of an accounting information system;
  3. Technology (4 marks)
  4. Accounting and auditing principles (4 marks)
  • Reporting                                                                  (4 marks)
  1. Describe the term customized software in the context of computerized accounting and identify the advantages and disadvantages of using such packages (10 marks)
  2. Daniel a QuickBooks user has gotten new vendor for his business. Highlight the various steps he has to go through to add new vendors to the business              (5 marks)

 

QUESTION TWO (20 marks)

  1. State the process of creating an invoice in sage as an accounting information system (5 marks)
  2. Explain how auditing can be carried out in a computerized environment (5 marks)
  3. Strategic planning is the process of selecting the organizations long term objectives and setting strategies for achieving those objectives. Discuss five steps involved in the strategic planning process (10 marks)

QUESTION THREE (20 marks)

  1. Describe three benefits of using an accounting information system in an enterprise

(6 marks)

  1. All information systems, whether manual or computerized have four components; input, processing, storage and output. Explain each of these four components (8 marks)
  2. Discuss where expert systems may be appropriately used in an information system (6 marks)

 

QUESTION FOUR (20 marks)

  1. Discuss the various security measures and accounting controls that can be implemented on accounting data (8 marks)
  2. By use of clear illustrations distinguish between the following terms;
  3. Invoice and credit note                               (3 marks)
  4. Debtor and Creditor (3 marks)
  • Balance sheet and Trial balance                              (3 marks)
  1. Assets and Liabilities (3 marks)
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