Question

Meaning of computerised accounting system

Answer 1

Answer:

computerised accounting system is an accounting processing system that processes financial transactions and events as per Generally Accepted Accounting Principle to produce reports as per user requirements.

it has two aspects accounting principle and user defined framework for maintenance of reports and generation of reports

Explanation:

Answer 2

Answer:

A computerised accounting system is an accounting information system that processes the financial transactions and events as per Generally Accepted Accounting Principles (GAAP) to produce reports as per user requirements. First, it has to work under a set of well defined concepts called accounting principles.