Answer the following thouroughly and put websites or references:

1. What are the key features of a computerised accounting system?

1. a) What proof/substantiation documents are available to support transactions you would be entering into your computerised accounting system?List at least 3.

b) For how long is a business legally required to keep their records?

1. a) What legislation relating to privacy is relevant when dealing with computerised accounting systems?

b) What are the key requirements of this legislation that relate to using computerised accounting systems?

1. What organisational policies and procedures relating to the operation of computerised accounting systems can be put in place to enhance security and privacy?

1. List 3 places you could go to for technical help in relation to an issue with your accounting software.

1. Accounting systems have many common reports which are used to provide information on the transactions, financial position and financial performance of a business. Complete the table below and provide at least two features and two functions of each of the reports:

Report	Features (what characteristics/options does the report have?)	Functions(what information does the report do/display?)
Bank Reconciliation Report
Profit and Loss Report
Balance Sheet

1. What backup procedures would you recommend to ensure your accounting system data is securely maintained?

1. What tasks should you undertake before commencing processing in a new financial year?

1. List the processes that can protect the integrity of the file in an office where there are multiple users.

1. What action could you take if you were unable to access your accounting system due to a computer virus?

Answer rating: 100% (QA)

Key Features of a Computerized Accounting System 1 Accessibility Users can access the system from anywhere with an internet connection 2 Automation Processes like data entry calculations and report ge... View the full answer