NCERT Solutions for Class 11 Accountancy Chapter 13 Computerised Accounting System

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Class 11 Accountancy NCERT Solutions Chapter 13 Computerised Accounting System

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We present you with NCERT Solutions of Class 11, Accountancy, Chapter 13. Vedantu provides you with expert teachers to answer all your queries about the topic thoroughly. Every subject has its own credibility and our expert teachers are the best in class to reach out to every single student, making sure that every question is resolved. This makes studies interesting casting eagerness out of every candidate aiming for excellence. Accountancy Class 11 Chapter 13 solutions can be downloaded by clicking on the pdf link available on this page. Vedantu makes it possible to get various subjects like  Mathematics, Science, English, Hindi solutions all in one place. Now, heading to our topic for discussion.

NCERT Solutions for Class 11 Accountancy Chapter 13 Computerised Accounting System part-1
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FAQ (Frequently Asked Questions)

1. Is There a Need to Change Accounting Standards With Evolving Technology?

Ans. Prodigious development in the IT industry with its effect on the profession of auditing and accounting, resulting in the emergence of big data has made the bodies to consider revising the current accounting standards or issuing out new standards. Accountancy has evolved on many such levels. More and more doors open with the usage of Information Technology in Accountancy and will continue. Many people believe that access to new software has made an accountants' job easier. They are not wrong, since time is money, and digitalization has saved a lot of time consumed in balancing the books and verifying the ledger's accuracy.

2. Name and Briefly Explain Four Limitations and Four Advantages of the Computerized Accounting System.

Ans. Limitations of Computerized Accounting System are as follows:

  1. Health Scares: Extensive use of computers can lead to various health problems like backache and eye strain. As a result, work efficiency may be reduced with an increase in medical bills.

  2. Training Costs: New hardware and software are needed to be introduced to maintain effectiveness and efficiency. These require special training for the staff. The firm/company bears training costs.

  3. Installation/Upgrading Costs: The systems are quite costly and it requires a huge sum to install well-established Accounting software.

  4. Breach of Data/Virus Attacks: Computer viruses are well known for disrupting work worldwide. Computer systems need to be well monitored and maintained to secure data. Breach of data might result in harm to individuals or enterprises.