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(i)Properties of accounting functions:
1.They involve arithmetic
Maintaining records of cash receipts, cash payments, depreciation of fixed assets and
employee payroll involves addition, subtraction and even calculating percentages of
values (particularly in the case of depreciation and payroll records). Computers can be
used to perform these arithmetical procedures since they are very fast and accurate.
2.They involve storage of information
Computers may be used to store records of cash receipts and payments, records of
depreciation of fixed assets and employee payroll records since they can store very large
amounts of data in very compact media as compared to the traditional filing system.
3.They are repetitive
Maintaining depreciation of records involves performing repetitive calculations on data
(reducing balance depreciation). A computer, which is faster and more accurate, could
best perform this repetitive task. Credit and debiting of accounts is also a repetitive task
that is carried out frequently.
4.They involve production of reports (e.g. Balance sheet, profit and loss a/c)
Report generation and production could be computerized since computers are capable of
producing quality reports.
Accounting functions that can be computerized:
1.Managing and maintaining records of receipts of cash.
2.Managing and maintaining records of cash payments.
3.Managing and maintaining records of depreciation of an organization‘s fixed assets.
4.Managing and maintaining employee payroll records.
5.Production of financial statements e.g. balance sheets, trial balance, trading and profit and
loss accounts
gregorymasila answered the question on November 22, 2017 at 15:51
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