1.

Computerised Accounting is different from Manual accounting. Explain.

Answer»

Computerised accounting is different from manual accounting, the following are the main difference between these two:

Computerised AccountingManual Accounting
1. In computrised accounting data can be easily processed and statements  can be prepared with high speed and accuracy.1. In manual accounting financial statement cannot be prepared with such speed and accuaracy.
2. Mass data can be stored in very small space and brought back very easily.2. Data are stored in large number of books and retrievel of data is a very tedious job.
3. Coding is essential in computerised accounting.3. Coding is not essential.
4. Closing entries are not necessary4. Closing entries are necessary.
5. The possibility of errors are less in computerised accounting.5. The possibility of errors are more.



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