Answer to Question #79833 in Finance for Hugh Heron

Question #79833
Demonstrate the procedures that should be followed to record financial data in a computerised system. You will need to negotiate a time and place for the demonstration with your assessor.
1
Expert's answer
2018-08-16T09:47:08-0400
To record financial data in a computerized system, you must follow these procedures:
- the information can be received on electronic carriers, on paper carriers or arrives through communication channels;
- data entry into the computer system is carried out at workplaces of accounting personnel by transferring from paper documents. Simultaneously there is registration on electronic and paper carriers (re-registration from electronic carriers or transmission via communication channels);
- control and correction of data is carried out using software methods when entering data by accounting personnel.
To assess the current state of the organization of accounting in a computerized system, demonstration of the indicated procedures is necessary. For this purpose, the time and place of meeting with the appraiser is appointed.

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