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Documentation N Accounting System

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Documentation N Accounting System
CHAPTER 2

REVIEW OF RELATED LITERATURE

The study aims to help and assess the effectiveness of computerize accounting system for organizations. It applies a case study plan to create the appropriate system for the Mimosa Company which is chosen by the proponents to be the case of the study. This chapter includes related literature to support the development of the proponents study and. The following literatures are to affirm the need to create a computerize system for the said company.

In our generation, computers are widely used by different institutions, companies, industries, schools, and particularly business sectors. They used computer to lessen workload and for convenience and to acquire more reliable outputs.

According to Pankaj Pendse (2012) Integrated accounting system is a distinguished accounting system in which the accounts are integrated and only a single set of accounts are maintained. Essentially it avoids maintenance of Accounts under cost accounting and financial accounting. This enables a firm to eliminate separate Profits & loss Accounts under financial accounting and cost accounting systems & only Profit & loss Accounts are prepared. The development of a computerized Accounting System for the Mismosa will saves the accountants effort of encoding data from clients, saves time & efforts, and user friendly.

According to Steve Pugh (2012) The new economy requires a new way of doing business. Businesses must be flexible to accommodate the changes that arise in today’s rapidly fast-paced business environment, in this pressure-cooker business landscape, strategic finance is more important than ever. Corporate management is relying on the ‘sages of financial insight’ to provide up-to-date financial information so they can make better, more informed decisions. The accounting department is also expected to effectively navigate the world of changing regulations and mitigate risk. by automating as
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