Complete financial accounting
course or guide covers a range of following subjects. It is being analyzed that
how computer techniques have impacted traditional accounting methods and
methods.
·
Financial Accounting with Double Entry
Bookkeeping
·
Principles of Accounting
·
Basic Book of Accounting – Journal
·
Accounting Ledger
·
Accounting Sub Journals - Cash Cook
·
Subsidiary Accounting Books
·
Accounting Confirmation by Trial Balance
·
Banking Transactions Bank Reconciliation
Statement
·
Depreciation
·
Rectification Of Accounting Errors
·
Balance sheet and Profit and Loss Account
·
Single Entry Bookkeeping Accounting System
·
Non Benefit Organization Accounting
·
Capital and Revenue
·
Reserves and Provisions
In a very brief time, computer
has grown from a medical fascination to an essential tool of computer society.
There is hardly any scientific/technical or business activity which is not in
one way or the other, suffering from modern pc techniques.
The human mind can handle only
some things at once. The digital computer, on the other hand, can be designed
to compare, measure, determine and evaluate thousands of parts in an extremely
brief time period.
The computer market has become
the quickest growing market these days. The purchase of mainframe computer
techniques is increasing day by day. The computer market has been further
pressed up by the release of minicomputer and micro computer techniques which
are small, cheap, reliable and very light. These are being consistently used
for process control, development testing, medical device recording, in shop
check out techniques, in automobile test and analyzing techniques, and medical
tracking etc.
Computers are now being used
substantially in office administration to perform the schedule office performs.
Today, most huge and mid-sized organizations are almost totally dependent on
their computer techniques. Routine uses of computer techniques are given below:
(I) Accounting, billing, Inventory Control Software with MIS, CRM
Computers are substantially used
in accounting and there is variety of computer software for Accounting, MIS, and
CRM. Hitch Financial Accounting is one such software which has been
personalized for users in many sections in business and services.
(ii) Pay-roll and personnel information.
Payroll accounting was the first
commercial area to become widely automated. The computation of income or
incomes involves a variety of factors which connect with the personal
information of each worker, such as total pay or rate for the job, individual reductions,
tax obligations of the workers and so on. This information can be maintained in
the computer and prepared every month of produce pay falls for the workers.
(iii) Stock control
The computer allows exercising
the kind of stock control required by the company. It up to dates the revenue
and buys information, decides optimum re-order levels for different products
and printing out the stock lists when preferred. The system can be so designed
that it activates purchases when stock level reaches purchase factor for
various material items; assessments those item which are slow going or gives record
for over stock products.
(iv) Sale accounts records
Programming can be done for any
revenue accounting system. The computer will pin factor defaulting debtors,
determine the right limit for credit for each debtor and maintain stores ledger.
(v) Costing and budgetary control
Costing and budgetary control can
be impacted through your computer, your computer will factor out the
modifications from the planned performance.
(v) Production control
The computer also allows greatly
in development planning and control. It is possible that organizing of the
perform may become necessary due to crack downs etc. A new crucial direction
may have to be worked out. A crucial direction is the smallest direction to be
followed in development to achieve development goals. The computer helps the management
lay down this new crucial direction.
Advantages and drawbacks of a
computer
A computer is surely beneficial
because of the top speed of operation and greater precision it provides,
benefits impacted by better managing control, benefits in labor because it is
fully automatic and lastly because of its versatility in use. However, there is
considerable investment expenditure with difficulty of obtaining experienced
experts and developers, crack down and maintenance troubles and lastly fears of
obsolescence due to rapid development of computer techniques.
Type of other applications in
regards to accounting system
WORD PROCESSOR
It is software to help in written
text handling. Terms are prepared. Processing includes placement, removal
changing, going words, sections etc. Term handling is the planning of kind
programs, using processing facilities for the storage and adjustment of written
text. For example, word processer has ability to blend name and details with
standard written text so as to give impression that the latter is personalized
even in case of round letter.
Hitch Financial Accounting has
got features so that you can trade its reports to Microsoft Word, a thing
handling and Mail Combine Program. You can also write characters to various
parties and shop information in the system data source.
DATA BASE
It is simple selections of
information (data) on a particular subject. Database file allows you to control
information in preferred form. So, information platform allows us to perform on
information and numbers to shop and operate that information in any preferred
way. For example, from the same primary information trial balance is prepared;
trading and profit and loss account may be prepared; record of individuals and
lenders may be prepared; buys and revenue prediction may be made and so on. So,
an efficient data-base management is required to offer versatility in uses of
information.
Hitch Financial Accounting uses
MS Access and MS SQL server data source for solid data source connection.
SPREAD SHEET
It is one of the software
programs which have improved the utility of computer for accounting
requirements. Worksheet applications help you to draw vertical as well as
horizontally content on a huge scaled paper. Each .column's length and depth
can be modified according to relevance. Even when content are once attracted
therefore these can be changed, improved or reduced extra content can be
placed, existing content can be removed. It is very useful for marketers and
professionals. It enables us to study multidimensional information at one sheet
and allows in coming at sensible choices. For example, if profit and loss account
has been ready for the year 1989 and you want a comparison with 1987 numbers
and 1990 prediction then propagate sheet shall enable you to offer two extra
content on each side for placing 1987 actual numbers and 1990 prediction
reports.
Hitch Financial accounting
software can export its report information to Ms Succeed Worksheet which is an advanced
worksheet application.