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seminar 3

The document compares manual and computerized accounting systems, highlighting key differences in processes such as recording, classification, and summarizing financial data. Manual accounting relies on physical books and is slower, while computerized accounting uses software for faster, automated processes and reduces data duplicity. Additionally, financial statements in manual accounting are prepared periodically, whereas computerized accounting generates them instantly at the click of a button.

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rithukumari1506
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8 views10 pages

seminar 3

The document compares manual and computerized accounting systems, highlighting key differences in processes such as recording, classification, and summarizing financial data. Manual accounting relies on physical books and is slower, while computerized accounting uses software for faster, automated processes and reduces data duplicity. Additionally, financial statements in manual accounting are prepared periodically, whereas computerized accounting generates them instantly at the click of a button.

Uploaded by

rithukumari1506
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Comparison

between
manual and
computerise
d accounting
Accounting by definition is the process
of identifying recording classifying and
summarising financial statements to
produce the financial report for the
ultimate analysis
What is manual and
computerised
accounting?
• Manual accounting – manual accounting refers
to the system of accounting in which financial
records a maintained using physical books
register and books of account
• Computerised accounting-computerised
accounting refers to the system of accounting in
which financial records are maintained
electronically using an accounting software
Identifying

• The identification of transaction based


on applications of accounting
principles is common both to manual
and computerised accounting system
Recording

• Manual accounting- data is recorded


in the books of original entry
• Computerised accounting- datas
recorded in the customised database
of the software
Classificatio
n
• Manual accounting- in manual accounting
system transactions recorded in the books of
original entry of for the classified by posting
into ledger accounts which may cause
duplicity
• Computerised accounting- no duplicity of
data as the transactions are made in
computer software
Summarising
(trial balance)
• Manual accounting-it is prepared
when it is required
• Computerised accounting – it is
automatically prepared and provided
on a daily basis
Adjusting
entries
• Manual accounting -Adjusting entries
are made for rectification of error
• Computerised accounting- adjusting
entries can’t be made for rectification
of errors
Financial
statements
• Manual accounting – it is prepared at
the end of a certain period for
example at the end of the year
• Computerised accounting- it is
automatically prepared and is
provided adjust a click of a button
Speed

• Manual accounting – it is slow


• Computerised accounting- it is
relatively faster
Calculations

• Manual accounting – calculations are


performed manually
• Computerised accounting-
calculations are performed
automatically by the accounting
software

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