Nt1310 Unit 1 Assignment
NGUYEN TRAI UNIVERSITY
BTEC HND IN BUSINESS (MANAGEMENT)
ASSIGNMENT COVER SHEET
NAME OF STUDENT
VU THI PHUC
REGISTRATION NO.
UNIT TITLE
Unit 11: Financial Systems and Auditing
ASSIGNMENT TITLE
Kangaroo Construction Ltd Management Control Systems
ASSIGNMENT NO
1 of 2
NAME OF ASSESSOR
Mr. JUN ALEJO BATHAN
SUBMISSION DEADLINE
11/12/2013
I, __________________________ hereby confirm that this assignment is my own work and not copied or plagiarized from any source. I have referenced the sources from which information is obtained by me for this assignment.
________________________________ _______11/12/2013_________
Signature …show more content…
On the other hand, accounting information system is a system of collection, processing, and storage of financial and accounting data that is used for decision making. Accounting record is a part of accounting information system, which is any type of hard copy or electronic document that provides information regarding the financial situation of an organization or a company including recording of assets and liabilities, ledgers, prime entry books (daybooks) and other supporting documents such as invoice, debit notes, credit notes. Prime entry books (daybooks) In term of accounting records, prime entry books (daybooks) are known as books of original entry, where the transactions are first recorded. The main daybooks comprise cash book (i.e. receipt: cash sales; payment: salary), sales daybook, purchase daybook, general journal. (Appendix 1.1) …show more content…
Accounting software can be expensive. If a business has just begun, the company can save money by doing the accounting in a paper ledger.
Avoiding risks such as software errors result in a loss of accounting data.
Disadvantages of manual accounting:
Consuming time; because accounting staff don 't have a computer categorizing and totaling figures, they must do these themselves. It takes more hours to do manual accounting than it does computerized accounting.
This method requires high precision; therefore, accounting staff must add the correct column, double-check their work, and physically write in numbers. Computerized accounting system Computerized accounting system uses the accounting software. After financial data is entered into the program, it will automatically organize information; the data will be calculated and expressed as accounting numbers or other financial reports. This method is suitable for both large companies and small companies. It will help the company save time when examining the transaction process and decision making easier.
Advantages of computerized
BTEC HND IN BUSINESS (MANAGEMENT)
ASSIGNMENT COVER SHEET
NAME OF STUDENT
VU THI PHUC
REGISTRATION NO.
UNIT TITLE
Unit 11: Financial Systems and Auditing
ASSIGNMENT TITLE
Kangaroo Construction Ltd Management Control Systems
ASSIGNMENT NO
1 of 2
NAME OF ASSESSOR
Mr. JUN ALEJO BATHAN
SUBMISSION DEADLINE
11/12/2013
I, __________________________ hereby confirm that this assignment is my own work and not copied or plagiarized from any source. I have referenced the sources from which information is obtained by me for this assignment.
________________________________ _______11/12/2013_________
Signature …show more content…
On the other hand, accounting information system is a system of collection, processing, and storage of financial and accounting data that is used for decision making. Accounting record is a part of accounting information system, which is any type of hard copy or electronic document that provides information regarding the financial situation of an organization or a company including recording of assets and liabilities, ledgers, prime entry books (daybooks) and other supporting documents such as invoice, debit notes, credit notes. Prime entry books (daybooks) In term of accounting records, prime entry books (daybooks) are known as books of original entry, where the transactions are first recorded. The main daybooks comprise cash book (i.e. receipt: cash sales; payment: salary), sales daybook, purchase daybook, general journal. (Appendix 1.1) …show more content…
Accounting software can be expensive. If a business has just begun, the company can save money by doing the accounting in a paper ledger.
Avoiding risks such as software errors result in a loss of accounting data.
Disadvantages of manual accounting:
Consuming time; because accounting staff don 't have a computer categorizing and totaling figures, they must do these themselves. It takes more hours to do manual accounting than it does computerized accounting.
This method requires high precision; therefore, accounting staff must add the correct column, double-check their work, and physically write in numbers. Computerized accounting system Computerized accounting system uses the accounting software. After financial data is entered into the program, it will automatically organize information; the data will be calculated and expressed as accounting numbers or other financial reports. This method is suitable for both large companies and small companies. It will help the company save time when examining the transaction process and decision making easier.
Advantages of computerized