Answer to Question #78846 in Accounting for Liam Johnston

Question

Demonstrate the procedures that should be followed to record financial data in a computerised system. You will need to negotiate a time and place for the demonstration with your assessor.

Answer 1

The procedures that must be followed to record financial data in a computerized system include:
- incoming information (on electronic media, on paper carriers, arrives via communication channels);
- Data entry into the computer is carried out at the workplaces of accounting personnel: from paper documents, simultaneously there is a registration on electronic and paper carriers, re-recording from electronic media, transmission via communication channels;
- control and correction of data is carried out through software methods when entering data by accountants.
Demonstration of these procedures is necessary to assess the current state of the organization of accounting in a computerized system. For this purpose, a time and place with an appraiser is assigned.