what is the effect of computerised accounting on quality financial reporting?

Question

does computerised accounting improve the quality of financial reports and in what way or there is no effect?

Answer 1

Computerized accounting can improve the quality of accounting because it frees up the accountant's time to do more analysis of the numbers instead of compiling them. The pitfall is that if there are errors in the data entry, they may fall through the cracks if the number are not being double checked.

Answer 2

it produces timely reporting, one of the criterias for quality financial reporting. with simply a click of the mouse, you can easily print out your financial statements.

also, real time reporting. by getting the information on time, it can help make quick decisions and reduces mor damage or loss incurred.

however, it is easily manipulatable if there's insufficient control, like passwords and the number of people allowed to access the information.

hope this helps!

Answer 3

regularly, Michael E may be splendid. yet this account has been inactive for 10 YEARS. credit background - even bankruptcies are bumped off interior of this time. i'm assuming you have different greater recent credit background to recollect upon. This account does not rather do something different than circulate away you open to somebody getting carry of the cardboard without your understanding it (considering you have not used it in 10 years).