DK Goel Class 11 Accountancy Solutions: Chapter 26 Overview

Q: 4. What are the benefits of a computerized accounting system?

The benefits of a computerized accounting system:Reliability High speed Accuracy Flexible reporting Updating of information Storage and retrieval Efficiency Lower costSecureQueries Timely reporting

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DK Goel Class 11 Accountancy Solutions: Chapter 26 Overview

Class 11 DK Goel Solutions Chapter 26 - Computerised Accounting System

Students can score high marks in grade 11 Accountancy by going through DK Goel solutions for Class 11 Accountancy chapter 26 from the website . In this written article of Computerized Accounting system is explained. The Computerized Accounting System is part of the Accounting Information System. The Computerized Accounting System keeps track of financial transactions within a company and produces reports as required by the user.

What is A Computerized Accounting System?

The Computerized accounting system is used to prepare financial statements and economic events of a company. It consists of both software and hardware which are interdependent. The type of software and hardware used depends upon the type of accounting system.

Some Points of Differences Between Computerized and Manual Accounting System

Identification of financial transactions is always done manually in both accounting systems.

In the Manual Accounting system, the process of recording the transaction as well as mathematical computation is done manually. In a computerized accounting system, the process of recording the transaction is done manually but the rest of the work is done by a computerized system.

In the Manual Accounting system, the recording is done in the original book and then again sorted in different ledgers. In the Computerized Accounting system, the whole process is done very efficiently and fast internally with the help of software.

In a manual computing system, the summarization of data is done manually by calculating the balance in each account separately. On the other hand, all the processes in Computerized Accounting are done internally using the software.

FAQs on DK Goel Class 11 Accountancy Solutions: Chapter 26 Overview

1. What do you mean by Manual Accounting?

As the name suggests, manual accounting uses manual methods for the identification of financial transactions. It follows the accounting principle. The documentation of transactions in the initial entry books is performed manually. Also, the operations of inclusion and subtraction are performed manually. In a manual computing system, the summarization of data is done manually by calculating the balance in each account separately.

2. Where can I find useful study resources for DK Goel solutions for Class 11 Accountancy chapter 26?

You can find DK Goel solutions for Class 11 Accountancy chapter 26 on the Vedantu app or website. You can find the DK Goel solutions for Class 11 Accountancy chapter 26 on Vedantu. These resources are created by professionals in the field and the content is accurate and reliable. Students can find revision notes, important questions, question papers etc on the site. These study materials are completely free and there is no cost involved. To access these useful study resources, all students have to sign in and then they will be able to download what they want in PDF format online or offline.

3. What do you mean by computerized accounting?

Like, manual accounting, computerized accounting uses manual methods for the identification of financial transactions. The process of data logging is conducted manually while all the other processes are computerized or in other words done by the computer software.

4. What are the benefits of a computerized accounting system?

The benefits of a computerized accounting system:

Reliability
High speed
Accuracy
Flexible reporting
Updating of information
Storage and retrieval
Efficiency
Lower cost
Secure
Queries
Timely reporting

5. What is Accountancy and what does it cover in Class 11?

Accountancy is a very important subject for students of Class 11 as it deals with basic accounting concepts. Studying this subject well helps you to strengthen your fundamentals of the subject. Through this subject, you will be able to grasp some of the very difficult concepts such as Analysis of Business Transaction, How to maintain the procedure of Bank Reconciliation Statement, Trial Balance & Rectification of Errors, Depreciation, Provision, & Reserves, how to maintain computerized accounting system.

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