Showing posts with label COMPARATIVE ANALYSIS OF COMPUTERIZED ACCOUNTING SYSTEM AND MANUAL ACCOUNTING SYSTEM. Show all posts
Showing posts with label COMPARATIVE ANALYSIS OF COMPUTERIZED ACCOUNTING SYSTEM AND MANUAL ACCOUNTING SYSTEM. Show all posts

Thursday, August 18, 2016

COMPARATIVE ANALYSIS OF COMPUTERIZED ACCOUNTING SYSTEM AND MANUAL ACCOUNTING SYSTEM

CHAPTER ONE
INTRODUCTION
1.1              BACKGROUND OF THE STUDY
Accounting system according to an Italian monk, Luca Pacioli (2001), is the combination of personnel records and procedures that a business uses to meet its need for financial data. Financial accounting also encompasses the summary of information and presentation of periodic reports such as profit and loss statement and balance sheet. The historical firms of accounting were of different degree of sophistication according to the need and techniques of the time. This is why modern accounting is based on the double entry system and the recognition of the dual nature of each transaction and this gives a co-ordinate support for the control of all the transaction of a business.