Question

What is not an advantages of a computerized accounting system
1. high speed
2. high reliability
3. reduced training cost
4. none of the above

Answer 1

Answer:

Costs involved in training staff to use system is not an advantage of introducing computerized accounting system. Training to use the system involves a huge cost which is a disadvantage of introducing computerized accounting system.

Answer 2

shortlyThe correct answer is OPTION 3: Reduced training cost

• A computerized accounting system provides speed, precision, and up-to-date information, but it comes at a cost.
• Computerized accounting systems make recording, storing, analyzing, and reporting financial data much simpler.
• In the future, everyone will be required to utilize a system like this to track and submit their accounts, such as tax returns.
• This is due to the government's Making Tax Digital plans, which are set to be implemented in the near future.
• HMRC is actively evaluating technologies to help with digital accounting procedures, but firms should begin implementing a variety of solutions currently to adapt to the intended change.