Question

1. Computers speed up the accounting process. Agree or disagree. Explain.

Answer 1

Solution

Agree.

Computers do speed up the accounting process as most of the work is done by the computer software and the accountants just have to fill in the basic data such as journal entries.

Using integrated accounting computers saves a substantial amount of time for inter department synchronization. In early times all the departments are required to get their accounting reports to one place for final accounts preparation which takes lot of time and efforts. Now all the computers are connected with one another in the company and the accounting reports are drawn online.

In early times preparation of journal, trial, ledger , financial statements are done manually but now only a simple journal entry is required to be entered in computer and other parts are made automatically. The possibility of unmatched trial is also reduced to zero since computer programs works logically and do not accept false data.

In conclusion Computers increase the speed of accounting processes.