Importance of Electronic Accounting System for Business

Accounting Reserach

Abstract
Electronic accounting system assist the company to secure the data in safe manner and
keep tracking the financial transaction of the company as well. In the same way, current study
will determine the importance of using this advance tool and system within a firm in order to
meet the define aim. The literature review clearly describe the importance of accounting system
within a firm and analyse that using this system will help the company to save time and present
the report without any error. Further, study also shows that there are different problem which is
face by the company in order to implement new system within a firm and this in turn affect the
overall results. Such that theft of data, loss of confidentiality, weak reporting service and lack of
management as well security. Also, using qualitative study methods, researcher is able to meet
the define aim and analyse the importance of using e-accounting system within a financial sector.

TABLE OF CONTENTS
Abstract............................................................................................................................................2
INTRODUCTION...........................................................................................................................1
LITERATURE REVIEW................................................................................................................2
Theme 1: Electronic accounting system......................................................................................2
Theme 2: Different type of electronic accounting system...........................................................2
Theme 3: Importance of e-accounting system for business.........................................................3
Theme 4: Problem facing by company to develop electronic accounting system.......................3
Theme 5: Ways to sort out the problem.......................................................................................4
RESEARCH QUETSIONS.............................................................................................................4
RESEARCH METHODOLOGY....................................................................................................4
DATA ANALYSIS.........................................................................................................................6
How electronic systems helps in decision making......................................................................6
DISCUSSION..................................................................................................................................8
CONCLUSION................................................................................................................................8
Recommendations........................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
In the era of digital technology, most of the company uses advance technology in order to
meet the define aim. In the same way, current study is also help to determine the importance of
using advance tool. The entire study will shed a light upon electronic accounting system which
offer a safe means of storing as well as assessing the data in order to run a business in better
manner. Therefore, accounting is the term which is used to determine the financial performance
of the company and analyse how the company manages the data in order to meet the define aim.
Now a days, most of the company uses advance accounting system such that BIS which help to
save time and perfection in work which is not possible in in the old system (manually).
That is why, through this current report, researcher wants to create awareness of using
electronic accounting system that assist to monitor the financial performance and transaction. As
most of the company uses advance technique and accounting software in order to calculate all
necessary calculation and keep the broad details of clients as well. But in the same time,
company also faces many problem such that losing confidentiality and many more. So, through
the present study, researcher uses secondary data collection method in order to examine the
importance of using electronic accounting system to generate the best results in the literature
review section. Also, through this topic, researcher create awareness among large business so
that they will also start implementing the system which in turn assist to take a business at further
level of success as well.
Purpose: The purpose of this research study is to let people understand about the
importance of using Electronic Accounting system.
Aim: The aim of this research report is “To investigate the importance of using electronic
accounting system within a financial sector”
Objectives:
 To determine the concept of electronic accounting system
 To analyse the importance of using e-accounting system within a firm.
 To identify the problems face by company while implementing e-accounting system.
 To recommend the ways through which the company overcome the challenges.
Research questions:
 What do you understand by the electronic accounting system?
 What is the importance of using e- accounting system?
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