Answer to Question #79833 in Finance for Hugh Heron

Question

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.

Answer 1

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.