Computerized Financial Accounting

financial accounting

Financial Accounting with Double Entry Bookkeeping

  Principles of Accounting
  Basic Book of Accounting - Journal
  Accounting Ledger
  Accounting Sub Journals - Funds Cook
  Subsidiary Accounting Books
  Accounting Verification by Trial Balance
  Banking Transactions Bank Reconciliation Statement
  Depreciation
  Rectification Of Accounting Errors
  Balance Sheet and Profit and Loss Account
  Single Entry Bookkeeping Accounting Method
  Non Profit Organization Accounting
  Capital and Revenue
  Reserves and Provisions

Complete financial accounting coursework or tutorial covers a range of following topics. It is being evaluated that how computers have affected traditional accounting methods and practices.

The human mind can handle only a limited number of things at a time. The digital computer, on the other hand, can be programmed to compare, measure, calculate and evaluate thousands of readings in an very short time period.

In a short span of time, computer has grown from a scientific curiosity to an indispensable tool of modem society. There is not very any scientific/technical or business activity which is not in way or the other, affected by modern information processing techniques.

The computer industry has become the quickest growing industry these days. The sale of mainframe computers is increasing day by day. The computer industry has been further pushed up by the introduction of mini computer and micro computers which are tiny, cheap, reliable and light. These are being routinely used for method control, production testing, scientific device recording, in store check out systems, in automobile check and evaluating systems, and medical monitoring etc.
financial accounting

Computers are now being used extensively in office administration to perform the method clerical work. Today, most sizable and medium sized organizations are  dependent on their computers. Method makes use of of computers are given below:

(i) Accounting, Billing, Stock Control Program with MIS, CRM

Computers are extensively used in accounting and there's multitude of computer program for Accounting, MIS, CRM. HiTech Financial Accounting is such program which has been custom-made for users in plenty of segments in business and services.

(ii) Payroll and personnel records.

Payroll accounting was the first commercial area to become widely computerized. The calculation of wages or salaries involves various variables which relate to the personal details of each worker, such as gross pay or rate for the job, individual deductions, tax liabilities of the workers and so on. These facts can be retained in the computers and processed every month of produce pay slips for the workers.

(iii) Stock control

The computer helps to exercise the type of stock control needed by the organization. It upto dates the sales and purchases records, determines optimum re-order levels for different items and prints out the stock lists when desired. The method can be so designed that it triggers orders when stock level reaches order point for various material items; tests those item which are slow moving or gives list for over stock items.

financial accounting