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Key Features of Computerised Accounting Systems

Answering short answer questions related to computerised accounting systems and record keeping for audit purposes.

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Added on  2023-01-12

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This article discusses the key features of desktop and cloud-based computerised accounting systems. It explores the advantages and disadvantages of each type of system, including factors such as cost, ease of use, and data security. The article also provides examples of popular accounting software programs and sources of technical help.

Key Features of Computerised Accounting Systems

Answering short answer questions related to computerised accounting systems and record keeping for audit purposes.

   Added on 2023-01-12

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Part 1: Short Answer Questions
Question 1
From the list below, briefly explain one other key feature a business may include in their
organisational procedures and policy in relation to operating a computerised desktop or
cloud accounting system such as MYOB. Note: one feature for each item has already been
given as an example you just need one more for each item.
Item Key features
Retention of
financial records
Example: All records are to be kept in hard copy and soft
copy for 5 years
Copy of the records must be maintained at registered
office and with auditor
Transactions CAN’T
be changed; they
must be reversed
Example: All incorrect transactions need to be shown to a
supervisor
All the transactions that are incorrect must reviewed
before reporting
Data backup Example: Data backup requires all computer files to be
backed up to a secure location
It needs a large storage space for storing an entire
information
Usernames and
passwords Example: User names and passwords will be allocated to
all authorised users.
This helps in gaining greater security with respect to
confidential information
Restoring corrupted
Key Features of Computerised Accounting Systems_1
files Example: Restoring company files needs to be authorised
by the accountant
Restoring the corrupted files must be made for keeping
the record of each and every file
Question 2
Please redo answers below incoorect. Something like computer accounting software eg
MYOB
Outline the key features of desktop and cloud-based computerised accounting systems using
the following table:
Computerised
Accounting System
Type
Examples Advantages Disadvantages
Key Features of Computerised Accounting Systems_2
Desktop
An example of
desktop involves
MacOS, Linux,
Indux, Windows etc. Desktop are found as
easier, less
expensive in context
of upgrade. It seems
as less costly and
offers for a better
value to the users.
It comprises of the
larger screens with
several accessories
that is keyboard,
mouse and the
monitors. Desktop
is counted as heavy
in carrying and
moving to the other
places and also
requires a plenty of
space on the desk for
set up or installation.
There are so many
cables attached with
the desktop and need
to plugged into a
power outlet every
time for using.
Desktop needs a
separate keyboard,
mouse and the
monitor.
Key Features of Computerised Accounting Systems_3

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