Define computerised accounting

Answer 1

An accounting system can either be a manual system or a computerised one and both produce similar results when properly applied.

An accounting system is part of the organisation's management information system therefore a good or decent accounting system must be able to produce reports like trial balance, aged debtors and aged creditors. Accounting systems must provide data that should enable the production of management accounts, statutory accounts and must also assist the managers and Accountants in discharging their stewardship roles.