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Finance & Accounting
Pages 6 (1506 words)
Financial and Accounting Table of Contents Introduction 3 Software tools in the Computerized Accounting Information System (CAIS) 3 Accounting software 3 Income tax 4 Audit 4 Word processing 4 Graphics software 4 Image processing 4 Electronic data interchange 4 Electronic funds transfer 5 Purpose of Computerized Accounting Information System 5 Use of CAIS in the functioning of Organization 5 A.
In past, these systems include manual processes but now due to technology advancement the accounting information system changed into Computerized Accounting Information System. Improvement in technology have replaced manual accounting system with computerizes ones. As computers become faster, less expensive, and easier to use; all organizations are using computers in their day to day business. With the help of computers, companies can now capture, process, store, and transmit data. It controls the topics which are related to organization’s economic- financial area. It helps in decision-making process, performance evaluation, facilitating company’s transaction and in internal controls through computerized accounting information system. It combines concepts and accounting principles to record, process, analyse the financial information and then produce it to its end users for the purpose of making economic decisions. Firm’s performance can be improved, through operational efficiency and increased profitability (Fowzia and Nasrin, 2011, p.1). Software tools in the Computerized Accounting Information System (CAIS) Accounting software This software consists of basic accounting functions like input, processing and output. ...
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