Question

State any two limitations of Manual Accounting System​

Answer 1

Answer:

Limitations of manual accounting are:

•Reduced speed.

•Increased effort of accountants.

•Duplication of work and less integrity.

Explanation:

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Answer 2

ANSWER :

Manual Accounting System is a system of maintaining record of financial transactions in manual form by human beings following the accounting principles, accounting standards, accounting assumptions and accounting concepts.

❍ Two limitations of Manual Accounting System are as follows :-

• [1] Speed of recording transactions : In a Manual Accounting System, recording of transactions is done through books of original entries which exist physically. Therefore, as it takes more time to record the transactions in the books of accounts; the speed of recording the transaction is lower in comparison to Compurterised Accounting System.

• [2] Accuracy and reliability of data : In a Manual Accounting System, errors may thake place as all steps for recording transactions in the books of accounts are required to be done manually and therefore, there is possibility of errors while recording. Moreover, this system can not perform the repetitive operations accurately as human being suffers from tiredness, boredom or fatigue etc. which results less reliability of recorded data.