Question
Accountancy Question on Using a Computerized Accounting System
The components of computerized accounting system refer to:
Business transactions are analysed, transactions recorded, prepare trial balance, preparation of balance sheet and profit and loss account.
Transformation of manual accounting system to CAS.
From data entry to preparation of balance sheet and profit and loss account
Preparation of Balance Sheet only.
From data entry to preparation of balance sheet and profit and loss account
Solution
The components of a computerized accounting system encompass all steps involved in the accounting process, starting from data entry, through to the generation of key financial statements such as the balance sheet and profit and loss account. This comprehensive process ensures that all financial transactions are accurately recorded and reported.