Question
Write three advantages of AIS.
✓
Answer
A Computerised Accounting System has many advantages, as discussed below:
- Large Volume of Transactions: In the present-day business environment, the transactions of a business are normally large in volume. The computerised accounting system can store and process such voluminous transactions with speed and accuracy.
- Scalability: A computerised accounting system is scalable to handle the growing transactions.
- Security: The accounting data under the computerised environment is safer than the accounting data under the manual system. The data can be kept secure by using a password, i.e., allowing only authorised users to access the data.
- Timely Reporting: Availability of reports on time enables the management to take quick decisions, which is an important element for the success of an enterprise. A computerised accounting system makes these reports available as and when required.
- Lower Cost: The cost of maintaining books of account under the computerized process is lower than in the manual process.
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Krishan started his business on 1st April, 2018 with a Capital of ₹ 1,00,000. On 31st March, 2019, his assets were:
He owed ₹ 12,000 to sundry creditors and ₹ 10,000 to his brother on that date. He withdrew ₹ 2,000 per month for his personal expenses. Ascertain his profit.
| ₹ | |
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Other Informations:
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Additional information:
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