Question

What is
meant by accounting reports with reference
to Computerized Accounting ?
​

Answer 1

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

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Answer 2

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. Every accounting system,  manual or computerized, has two aspects. First, it  has to work under a set of well-defined concepts  called accounting principles. Another, that there is  a user -defined framework for maintenance of

records and generation of reports

Explanation:

In a computerised accounting system, the framework

of storage and processing of data is called operating

environment that consists of hardware as well as software

in which the accounting system, works. The type of the

accounting system used determines the operating

environment. Both hardware and software are

interdependent. The type of software determines the

structure of the hardware. Further, the selection of

hardware is dependent upon various factors such as

the number of users, level of secrecy and the nature of

various activities of functional departments in an

organisation

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