Reporting Accuracy

Reporting Accuracy
  • Imagine you are a consultant hired to convert a manual accounting system to an automated system. Suggest the key advantages and disadvantages of automating a manual accounting system. Identify the most important step in the conversion process. Provide a rationale for your response.
  • Identify key risk factors inherent in the automated process. Take a position on whether or not you believe that automation of accounting control systems reduce human error. Support your position.

 

 

 

 

 

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With increase in technology, companies are processing quite a large amount of data and the era of manual accounting system is quickly vanishing. Imagine a global company such as Coca-Cola using a manual accounting system. This is real recipe for disaster because it would be almost impossible to manage the transactions. The advantages that come with an automated accounting system include:

Speed: data entry into the accounting system is done much faster than in any manual processing. The Graphical User Interface (GUI) that….

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