Automation of accounting
Automation of accounting
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Reporting Accuracy
- Imagine you are a consultant hired to convert a manual accounting system to an automated system. Suggest the key advantages and disadvantages of automating a manual accounting system. Identify the most important step in the conversion process. Provide a rationale for your response.
- Identify key risk factors inherent in the automated process. Take a position on whether or not you believe that automation of accounting control systems reduce human error. Support your position.
Answer preview
Automating accounting systems
Accounting systems have been automated and this has got its advantages and disadvantages. The advantages are: it is very fast and efficient in processing data, it is also possible to generate accounting documents such as invoices, it is also cheaper maintaining automated systems than manual ones, information on accounts are also generated at a faster speed and automated systems can handle and process large data at the same time (Ramachandran, 2008)………………..
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FORMAT:APA