Benefits and Effectiveness of Accounting Essay Example for Free

Benefits and Effectiveness of Accounting Essay The research was based on two variables these are computerized accounting systems which comprise of definitions, components of computerized accounting software and benefits and limitation of computerized system and financial reporting which also comprises of definitions of financial reports, benefits and effectiveness of accounting system used at National Water and Sewerage Corporation. The study will enable management to understand the significance of preparing quality and reliable financial reports. The study will point out weakness in the accounting system which management needs to address. The Government of Malaysia through the Department of Accountant General (MDAG) has instructed MARA to implement the Standard Accounting System for Government Agencies (SAGA). This is a total Enterprise Resource Planning (ERP) System, developed based on web-based application and is using an accrual basis of accounting. The SAGA financial system enables its users, particularly the government agencies to close their accounts on a daily basis, monitor their daily financial activities as well as produce standardized financial reports to the stakeholders at any place and any time. However, upon completion of the SAGA financial system analysis, MARA identifies that the system could not cater all MARA business activities. Processes such as disbursement of scholarship and loans to students and entrepreneurs are not covered by the system. As such, MARA still has to maintain its existing databases and therefore made special request to the MDAG to exclude the implementation of SAGA while awaiting MARA ICT consultant’s recommendations on the development of a new MARA Total Information and Financial System. As a conclusion, the SAGA financial systems could not be used by MARA on its own. The end-users in MARA need to operate both, SAGA and its own systems at the same time. This situation could lead to users’ confusion if they are to use different type of system when updating certain type of financial transaction. This is because the end-user of MARA Computerized Accounting System could only utilized the SAGA Financial System just for ordinary operating expenditures whilst any disbursement of expenditure pertaining to subsidiary system, they still need to use the existing MARA Financial Systems. Consequently, internal controls and security functions may not be easily built in the systems. Concurrent use of both systems may affect job satisfaction and performance of the end-users. Introducing Computerized Accounting Information Systems in a Developing Nation: Egyptian International Motors This study aims to assess the implementation of accounting information system on a company in a developing nation. To answer this question this manuscript attempts to do the following: (1) identify the reasons for the shift to an automated system and the main goals that the company aim to achieve form this shift, (2) determine the company’s strategic decisions like choices between outsourcing versus in-house development, and ready made packages versus tailor made software, (3) describe the steps of implementation, (4) understand the reaction of the employees to the new automated system, (5) study the required changes on the organizational chart and human resources qualifications that are required, (6) recognize the problems that the company met during the process, (6) point the advantages of the shift to the automated system. A computerized accounting System provides many advantages over manual systems, for example entries do not have to be recorded in multiple ledgers so as to fulfill the cardinal rules of financial reporting.A single entry is made and the system will populate all the appropriate corresponding accounts automatically. Computerized accounting also makes it possible for people in other departments,not just accounting to enter data.It does not require avast amount of accounting knowledge for a payroll clerk to enter wages details into the accounts,a basic understanding of how to use the system is sufficient The study intends to find out the effect of a computerized accounting system on the quality of financial reports generated by an organization. To examine the effect of computerize accounting systems quality financial reporting. To determine the challenges encountere by organizations before and after implementing a computerized accounting system. To identify strategies/measures of ensuring quality financial reporting. An accounting system is part of the organisation’s management information system therefore a good or decent accounting system must be able to produce reports like trial balance, aged debtors and aged creditors. Accounting systems must provide data that should enable the production of management accounts, statutory accounts and must also assist the managers and accountants in discharging their stewardship roles. Production Of Accounts A good system should enable the firm to produce its management reports and management accounts at short notice. This will enable the organisation to monitor performance, to take decisions quickly and to make decision based on objective and verifiable information. Audit Trail Audit trail is very important as it will enable auditors and senior managers to monitor transactions entered in the accounting system and this will ensure that there is information integrity. A good system should document the changes that have been made in the system, who made the changes and it should also be able to track what was changed. Compatibility With Other Programmes A strong characteristic of a good accounting system is that it must be compatible with other systems. For example, it should easily be configurable so that it can communicate with other programmes like Excel or Crystal. An accounting system should be able to export transactions and reports into Excel and it should allow data and transactions to be imported from an external source. This will lead to time savings as there will be no need to duplicate a role or process. Error Detection If an accounting system does not dictate errors then it is not a good accounting package as it is failing to perform a basic functionality. An accounting package should decline to post transactions that do not balance for example the total debits should equal the total credits and if this is not the case, then the accounting system should automatically flag this error. Internal Controls Internal controls are the eyes and ears of the organisation and a good accounting system should embed these internal controls into the system. Internal controls enable prevention and detection of fraud and error. An accounting system should enable internal control tools like segregation of duties, reconciliations and account allocations. A good accounting system should not allow users to delete data that has been posted into the system. Manual Vs Computerized Accounting Computerized accounting systems provide more benefits than manual ones, allowing for more accurate calculations, in less time. Compared to manual accounting, with a computerized system errors are far less common, eliminating human error. And with accounting programs that are industry-specific, you can benefit from various preset templates for your general ledger, saving more time. You can store virtually endless information, without any trouble at all. And if you later want to review financial information from several years ago, with a computerized accounting system you can do it easily, while with a manual one you would have to sort through stacks of paper ledgers. Bottom line, both systems may be useful to some extent. But for more accurate bookkeeping and increased efficiency, a computerized accounting system seems to have more advantages. You can find several free versions online, as well as more proficient accounting software available for purchase. Search online for such accounting systems, read about their features and decide which one would be better for your particular business needs. Although they will not allow you to physically handle the ledgers, it will provide a better accounting solution. The advantages of Computerized Accounting seem to be unknown by business owners and individuals who are in doubt of purchasing Accounting Software. Accounting Software has been a trend nowadays. With the vast Computerized System Providers and wide range of versions to choose from, Accounting System has evolved to be one of the trends in information technology. Computerized Systems are designed to create more value in Financial Accounting. Value can be relayed in terms of speed, accuracy and reliability of accounting data. With Computerized System, invoices can be transmitted in an instant through email; inventories are appropriately monitored; and disbursements are tracked for payments to be done before due dates. It helps Bookkeepers to reduce manual activities. When transactions are entered in the Accounting System, automatic entries are posted to generate data needed for financial reporting. Accounting Software enables Bookkeepers and Accountants to adjust necessary accounts to reflect the correct amount of each Account. Computerized Accounting allows Accountants to trace erroneous data and entry in a creative and organized manner through the help of summaries, list of accounts and original entries. Article Source: http://EzineArticles.com/?expert=Jason_Tsang Article Source: http://EzineArticles.com/7017983 Computers are extensively used in accounting and there are multitude of computer software for Accounting, MIS, CRM. HiTech Financial Accounting is one such software which has been customized for users in many segments in business and services. Payroll accounting was the first commercial area to become widely computerized. The calculation of wages or salaries involves a number of variables which relate to the personal details of each employee, such as gross pay or rate for the job, individual deductions, tax liabilities of the employees and so on. These facts can be retained in the computers and processed every month of produce pay slips for the employees. The computer helps to exercise the type of stock control needed by the organization. It up to dates the sales and purchases records, determines optimum re-order levels for different items and prints out the stock lists when desired. The system can be so designed that it triggers orders when stock level reaches order point for variou s material items; tests those item which are slow moving or gives list for over stock items. Programming can be done for any sales accounting system. The computer will pin point defaulting debtors, determine the right limit for credit for each debtor and maintain stores ledger. Costing and budgetary control can be affected through the computer, the computer will point out the variations from the planned performance.The computer also helps greatly in production planning and control. It is possible that scheduling of the work may become necessary due to break downs etc. A new critical path may have to be worked out. A critical path is the shortest path to be followed in production to achieve production objectives. The computer helps the management lay down this new critical path. The increasing competition and the highly demands of globalization, Malaysia government attempt for Small Medium Enterprise, SME for the development of innovative, competitive with high technology. Computerized accounting system (CAS) adoption may be decisive factor for an organization to be success and also to survive. This research project which aimed to investigate SME practice of CAS and to identify the factor affecting the adoption among SMEs in Melaka. A survey was carried out through a set of questionnaires to examine the CEO Innovativeness Factors Scale, Perceive Usefulness Factors Scale, Perceive Ease of Use Factors Scale and Business Competitiveness. The sample selected comprised of CEOs of SMEs in three districts in Melaka, namely Melaka Tengah, Alor Gajah and Jasin. The data gathered were coded and analyzed using descriptive statistics, linear regression analysis, Pearson Correlation analysis and Analysis of Variance (ANOVA).This study reveals that CAS adoption rate in SMEs in Melaka is high. Results from the analysis also shown the significant of independent variables and proved the relationships have been substantiated to the dependent variable which contribute to the usage of CAS adoption between SMEs in Melaka. The findings indicate that CEO innovativeness; perceive ease of use and business competitiveness negatively correlated to the adoption of CAS. Results reveals that only perceive usefulness are significantly positive correlated to CAS adoption. Therefore it can be deduced that adoption of CAS among SMEs in Melaka is caused by its usefulness. The findings reveal that types of business and business location influence the adoption of CAS. However, size (paid up capital, sales turnover and number of employee) do not influence the adopter. Results also indicate that CEO literacy on ICT, accounting and CAS has influence the responded CEO to adopt CAS in their business. However, the advantages by using the accounting systems software were not fully utilized by CAS adopters. http://www.ccsenet.org/journal/index.php/ijbm/article/view/18273

circumstances in make lemonade Essay -- essays research papers

Circumstances   Ã‚  Ã‚  Ã‚  Ã‚  Circumstances; they rule our lives. One has if not no control, then VERY little control, over their actions when they are placed in harsh circumstances. It is very difficult to break through your surroundings, to beat everyone around you.   Ã‚  Ã‚  Ã‚  Ã‚  There is a quote â€Å"Circumstances rule men and not circumstances.† The idea of this quote, that one doesn’t have control over their turnout when they are placed in harsh circumstances, shows up in other places as well. There is another quote which is similar to this one. The quote is â€Å"Circumstances define us; they force us on one road or another then they punish us for it†. â€Å"Circumstances define us†¦Ã¢â‚¬  we are only who the people around us make us out to be. We take after our surroundings. It is hard to stay away from bad things, if all that surrounding us is bad. It is difficult to resist peer pressure. In the novel Make Lemonade, by Virginia Ewer Wolf, LaVaughn wants out. She wants to get away from all of the violence, all the drugs. She wants to get out of where she lives, which is very similar to the projects, some neighborhoods near her ARE the projects, and to go to college. She wants to escape from all of the peer pressure. She understands that she is not capable of becoming the type of woman she wants to be if she never experiencing life outside of her circumstances, life outside of drugs, violence and other things of the sort. Her surroundings, the circumstance...

Landlines vs Cell Phones Essay

The global community is dependent on efficient communication in order to function in daily life. Through modern day technology the telephone has evolved immensely. Landlines and cell phones are both efficient ways of communication, each with their own strengths and weaknesses. Power supply methods vary greatly between cell phones and land lines. Landlines are able to function when the power goes out and are a reliable steadfast form of communication. In contrast, a cell phone will only last without a power supply until the battery dies. Both forms, however; are ultimately dependent on the main electrical grid to supply them with power. Despite varying degrees of power dependence, both methods of communication maintain popularity among the masses. The decision to own a cell phone, land line, or both, is determined based on what each device can offer a consumer. The older generation seems to prefer having a landline over a cell phone. Land lines offer larger numbers on their keypads, which is more convenient for the elderly who typically have deteriorating eyesight. Furthermore, landlines are a more straightforward means of communication. It serves only the purpose to call people, whereas cell phones tend to have extra applications, such as internet access that target a younger generation. Just as the elderly are attracted to land lines for their simplicity, today’s youth find cellular devices more appealing. While land lines and cell phones appeal to different target audiences, both are more convenient then using a tin can and string. The portability of landlines and cell phones is another aspect of convenience that should be taken into consideration. Landlines are set at a fixed point and cannot range far from their general location. Cell phones, however, have a range within the confines of their network provider, which may encompass an entire continent. Although a cell phone has a wider range, a landline can also be featured as cordless, which allows the user more freedom of range. The price of cell phone and landline service seems to increase in accordance with their range. Having a landline and cell phone can be an added expense, which explains why a vast majority of the population have one or the other. There appears to be a large generational difference in which type of phone people choose. This could be due to the cost difference in the type of phone or the simplicity difference between modern technology and what some generations are accustom to using. Companies such as Comcast are offering voice services for around $29. 99 a month, a much cheaper rate than what most cell phone companies can offer, ranging from anywhere between $40. 00- $90. 00 a month. This is a large price difference, but the capabilities of a cell phone are much more sophisticated than a landline. With a cell phone you are paying for voice services, text messaging and internet services; with a landline you are paying for local and long distance calling. Cell phones can have additional, unplanned added expenses. Most cell phone companies require a two year contract giving the potential to have an added cost if you need to shut off your phone, known as a cancelation fee. When a consumer signs a two year contract they are agreeing to use a certain amount of minutes and gigabytes, if you go over the allocated minutes or gigabytes the phone carrier will charge costly additional fees. Cell phones run off of towers which gives the opportunity for roaming to occur and for an unforeseen charge to show up on your monthly bill. This could easily happen in the northern part of Vermont where Canadian towers can be used for reception and international rates can be charged. Landlines are cheaper to replace than a cell phone, although if insurance is purchased for a cell phone replacing the cell phone could be cheaper. Both landlines and cell phones help keep social circles intact. Not all families and/or friends live close, having phones allow people to communicate even when they are far apart. Both cell phones and landlines can make communication harder because they are unable to read an individual’s body language or facial expressions, which can cause misunderstandings. A positive to having a cell phone is that you can use Skype or FaceTime to communicate and you do have the opportunity to read body language. Cell phones do have a down fall with reading body language as well. There are a lot of people who communicate through text messaging and then the user is not only unable to read body language, but cannot hear things such as sarcasm in the voice, leaving landlines as a better means for preventing miscommunications. The versatility of the landline is much less than the cell phone. Because landlines are less complicated then cell phones, they are easier to use. A cell phone permits the user to send text messages when he/she is in a public area and cannot talk or needs to say something that is private. Though landlines were used once to dial into the Internet from a home computer and took forever, including the annoying buzzing sound, with one touch on a cell phone, there is immediate access to the Internet and no reason to be annoyed. The global community depends greatly on communication, therefore cell phones and landlines are devices that are in high demand. Being able to communicate with other people is important. Cell phones and landlines Differences Telephones have been around for a long time, and with modern technology, the way people communicate has improved. Unfortunately, landlines and cell phones have decreased face to face interaction, though increased communication. Both landlines and cell phones have played a positive and negative role in society. Landlines might be facing extinction, but for now seem to still have many benefits. Cell phones definitely are improved on a regular basis, but have a few set back, like how fragile they are. Phones have been around for a long time, for its very important for people to be able to communicate all over the world. Without landlines or cell phones people would have to travel far distances to talk to one another, and who wants to do that?

Global Changes in the World - 567 Words

The periods between 1450- 1750 brought global changes that revolutionized society on many levels. The changes surrounding commercial trade, advanced maritime technology, and slave trade brought different trends in this Western European history. The Protestant Reformation along with the Renaissance transformed the church’s involvement with societal issues in politics, arts and science. In Asia, Neo-Confucianism stressed the importance of morals, education and hierarchical order in the government and society. Societal views regarding the education and economic status of children somewhat differed in many countries. Regional and cultural differences outweighed the commonalities in various societal issues towards children. The European, American, and Japanese cultures had many differences in their societies. In Document 1, the Europeans introduced bills that focused on protecting â€Å"children who were enticed away from their parents and were kept and detained in ships.† In Document 2 and 5, the Americans made agreements for poor children and apprentices. Document 2 talks about an agreement made between a boy’s parents and a slave master. â€Å"Finding and allowing unto his said servant meat, drink, apparel, washing, lodging, and all other things during the said term of seven years† along with issues regarding fornication and holy matrimony were discussed in this document. â€Å" It was ordered that notice be given to the several persons under-written that they, within one month afterShow MoreRelatedThe Effects Of Global Climate Change On The World1118 Words   |  5 Pageseffects of global climate change are everywhere from major cities to the under populated arctics. Most people just call it global warming, but it is not. 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