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Computerised_Accounting_Study_Guide

This document is a comprehensive study guide on Computerised Accounting Systems (CAS) and Spreadsheet Applications, covering key components, functionalities, and limitations of CAS. It includes quizzes with short-answer questions and answers, essay questions for deeper exploration, and a glossary of key terms related to accounting systems. The guide emphasizes the importance of data management, account codification, and the use of graphical representations in accounting.

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2 views

Computerised_Accounting_Study_Guide

This document is a comprehensive study guide on Computerised Accounting Systems (CAS) and Spreadsheet Applications, covering key components, functionalities, and limitations of CAS. It includes quizzes with short-answer questions and answers, essay questions for deeper exploration, and a glossary of key terms related to accounting systems. The guide emphasizes the importance of data management, account codification, and the use of graphical representations in accounting.

Uploaded by

Gaming with Foxy
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Computerised Accounting Systems and Spreadsheet Applications

A Comprehensive Study Guide

I. Quiz: Short-Answer Questions

- What are the five key components ('pillars') of a Computerised Accounting System (CAS)?
- Why is the grouping and codification of accounts essential in a CAS environment?
- Differentiate between one-time and recurring activities when using CAS software. Give an example
of each.
- Explain the role of the PMT function in Excel and its parameters.
- What is the purpose of an Accounting Information System (AIS) and how does CAS facilitate its
implementation?
- Describe three limitations of Computerised Accounting System (CAS) software.
- Give examples of the three main methods of account codification.
- Explain the difference between data and information.
- Explain what a doughnut chart is used for.
- Describe the purpose of using multiple-line graphs.

II. Quiz Answer Key

- The five key components of a CAS are procedure, data, people (users), hardware (computers,
peripherals and network), and software (system and application).
- Grouping and codification are crucial for managing increasing transaction volumes in a CAS
environment.
- One-time activities in CAS involve initial setup like creating organisation details and defining ledger
types. Recurring activities include ongoing transaction entry and generating reports.
- The PMT function in Excel calculates loan payments based on interest rate, number of periods,
and present value.
- An AIS integrates financial data processing and CAS facilitates this by automating data
management and generating reports.
- Limitations of CAS include technology obsolescence, data loss risk, and security vulnerabilities.
- Account codification methods: Sequential (e.g., CL001), Block (e.g., 100-199 for specific
categories), Mnemonic (e.g., SJ for Sales Journal).
- Data is raw facts, whereas information is processed and meaningful data.
- A doughnut chart is similar to a pie chart but can contain multiple data series.
- Multiple-line graphs display trends over time for multiple data series, aiding in comparisons.
III. Essay Questions

- Discuss the benefits and limitations of implementing a Computerised Accounting System (CAS) in
a business environment.
- Explain the importance of grouping and codification of accounts in a CAS with examples.
- Describe various sub-systems within an AIS and explain how CAS facilitates their integration.
- Evaluate the use of spreadsheet applications in payroll accounting, asset accounting, and loan
repayment scheduling.
- Discuss the advantages of using graphs and charts in Excel for data representation.

IV. Glossary of Key Terms

- AIS (Accounting Information System): A system that collects and processes financial data.
- Asset Accounting: Managing fixed assets including acquisition and depreciation.
- CAS (Computerised Accounting System): Automates financial transaction processing.
- Data: Raw, unprocessed facts.
- Depreciation: Allocation of asset cost over its useful life.
- Doughnut Chart: A circular chart showing parts-to-whole relationships.
- MIS (Management Information System): Provides customized managerial reports.
- PMT: Excel function for calculating loan payments.

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