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CBSE Class 12 Commerce Accountancy Part B Computerized Accounting Complete Details

CBSE Class 12 Commerce Accountancy Part B Computerized Accounting :  The Central Board of Secondary Education (CBSE) is a Board of Education for public and private schools, under the Union Government of India. CBSE affiliates all Kendriya Vidyalayas, all Jawahar Navodaya Vidyalayas, private schools and most of the schools approved by central government of India. CBSE conducts the final examinations for Class 10 and Class 12 every year. CBSE  goal of the Academic, Training, Innovation and Research unit of Central Board of Secondary Education is to achieve academic excellence by conceptualizing policies and their operational planning to ensure balanced academic activities in the schools affiliated to the Board. The Unit strives to provide Scheme of Studies, curriculum, academic guidelines, textual material, support material, enrichment activities and capacity building programmed. The unit functions according to the broader objectives set in the National Curriculum Framework-2005 and in consonance with various policies and acts passed by the Government of India from time to time.

CBSE Class 12 Commerce Accountancy Part B Computerized Accounting Complete Details

CBSE Class 12 Commerce Accountancy Part B Computerized Accounting : Here our team members Provides CBSE Class 12 Commerce Accountancy Part B Computerized Accounting Complete Details. CBSE Class 12 Commerce Accountancy Part B Computerized Accounting Complete Details Included One unit. This  CBSE Class 12 Commerce Accountancy Part B Computerized Accounting Complete Details Have One unit it included some topics those are under given following Steps :

Part B: Computerised Accounting

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Unit 3: Computerised Accounting

Overview of Computerised Accounting System.

  • Introduction: Application in Accounting.
  • Features of Computerised Accounting System.
  • Structure of CAS.
  • Software Packages: Generic; Specific; Tailored.

Accounting Application of Electronic Spreadsheet.

  • Concept of electronic spreadsheet.
  • Features offered by electronic spreadsheet.
  • Application in generating accounting information – bank reconciliation statement; asset accounting; loan
  • repayment of loan schedule, ratio analysis
  • Data representation – graphs, charts and diagrams.

Using Computerized Accounting System.

  • Steps in installation of CAS, codification and Hierarchy of account heads, creation of accounts.
  • Data: Entry, validation and verification.
  • Adjusting entries, preparation of balance sheet, profit and loss account with closing entries and opening entries. Need and security features of the system.

Database Management System (DBMS)

  • Concept and Features of DBMS.
  • DBMS in Business Application.
  • Generating Accounting Information – Payroll.

CBSE Class 12 Commerce Accountancy Part B Computerized Accounting Complete Details

CBSE Class 12 Commerce Accountancy Part B Computerized Accounting : Accounting or accountancy is the measurement, processing and communication of financial information about economic entities such as businesses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494.  Accounting, which has been called the “language of business”, measures the results of an organization’s economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms “accounting” and “financial reporting” are often used as synonyms.

Accounting can be divided into several fields including financial accounting, management accounting, external auditing, tax accounting and cost accounting.  Accounting information systems are designed to support accounting functions and related activities. Financial accounting focuses on the reporting of an organization’s financial information, including the preparation of financial statements, to external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measurement, analysis and reporting of information for internal use by management. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system.

CBSE Class 12 Commerce Accountancy Overview Of Computerized Accounting System Complete Details

CBSE Class 12 Commerce Accountancy Part B Computerized Accounting :

A Computerized Accounting System is now a basic necessity and no longer a luxury among businesses of whatever orientation and size. In the past, accounting was done manually by business owners. The process proved time-consuming, cumbersome and prone to human error. There were also problems with storage and retrieval of information, not to mention consolidation and reporting. Computerized accounting systems have revolutionized the way businesses are conducted. They have enabled companies to paint a more accurate picture of their organization’s financial performance and to make comparisons and across places and periods of that performance.

Computerized Accounting System Advantage

A computerized accounting system also allows analysis of the stored information. This is particularly crucial in the crafting of business and strategic plans especially as competition in the specific business or industry heats up. A computerized accounting system will work with whatever type of business. This is because any business in general, whether it produces products or delivers services, has a basic structure: input, process and output. There are uniform reporting requirements and accounting principles to comply with and use.

There is a world of difference between a computerized accounting system and a manual one. First is the cost. A computerized accounting system may cost more in the short term, but this is if you do not factor in the ensuing productivity and savings in the long run. Then again, a computerized accounting system is not as expensive these days as it was when it first became popular. Speed is also a prime consideration. The same amount of work can be performed by a computerized accounting system in a fraction of the time that a manual system can do it.

Finally, only a computerized accounting system offers a backup mechanism that will enable the user to retrieve the data even when it has been lost. This is one feature that is not found in any manual system. All these considerations support the benefit of using a computerized accounting system as opposed to a manual one. According to Mr. Tan having a computer accounting system totally revolutionized his shoe repair business. In the past, he only took note of the number of job orders and multiplied them by the standard fees. But he could not keep track of everything especially as the demand for his services grew and he had to open new branches.

With a computer accounting system, keeping track of how the business is doing in all three locations has become immensely easy for Mr. Tan. He no longer has to worry about whether his manager in all three branches are doing their job accordingly just because he cannot be present in all three locations at the same time. The computerized accounting system has enabled him to compare and analyze why this branch is doing better than the others, or what another branch must do in order to maximize its revenue potential. As a result, Mr. Tan now has more information at his fingertips. It is easy to make business decisions when there are numbers and figures backing up these decisions.

Download here CBSE Class 12 Commerce Accountancy Overview Of Computerized Accounting System Complete Details in PDF Format 

CBSE Class 12 Commerce Accountancy Accounting Application Of Electronic Spread Sheet Complete Notes

CBSE Class 12 Commerce Accountancy Part B Computerized Accounting :

CBSE Class 12 Commerce Accountancy Accounting Application Of Electronic  spreadsheet is an interactive computer application for organization, analysis and storage of data in tabular form. Spreadsheets are developed as computerized simulations of paper accounting worksheets. The program operates on data entered in cells of a table. Each cell may contain either numeric or text data, or the results of formulas that automatically calculate and display a value based on the contents of other cells. A spreadsheet may also refer to one such electronic document.

Download here CBSE Class 12 Commerce Accountancy Accounting Application Of Electronic Spread Sheet Complete Notes In PDF Format

Spreadsheet users can adjust any stored value and observe the effects on calculated values. This makes the spreadsheet useful for “what-if” analysis since many cases can be rapidly investigated without manual recalculation. Modern spreadsheet software can have multiple interacting sheets, and can display data either as text and numerals, or in graphical form.

Besides performing basic arithmetic and mathematical functions, modern spreadsheets provide built-in functions for common financial and statistical operations. Such calculations as net present value or standard deviation can be applied to tabular data with a pre-programmed function in a formula. Spreadsheet programs also provide conditional expressions, functions to convert between text and numbers, and functions that operate on strings of text.

Spreadsheets have replaced paper-based systems throughout the business world. Although they were first developed for accounting or bookkeeping tasks, they now are used extensively in any context where tabular lists are built, sorted, and shared.

LANPAR, available in 1969, was the first electronic spreadsheet on mainframe and time sharing computers. LANPAR was an acronym: LANguage for Programming Arrays at Random. VisiCalc was the first electronic spreadsheet on a microcomputer, and it helped turn the Apple II computer into a popular and widely used system. Lotus 1-2-3 was the leading spreadsheet when DOS was the dominant operating system. Excel now has the largest market share on the Windows and Macintosh platforms. A spreadsheet program is a standard feature of an office productivity suite; since the advent of web apps, office suites now also exist in web app form.

CBSE Class 12 Commerce Accountancy Using Computerized Accounting System For Complete Notes

CBSE Class 12 Commerce Accountancy Part B Computerized Accounting :

An accounting system is a collection of processes, procedures and controls designed to collect, record, classify and summarize financial data for interpretation and management decision-making. Computerized Accounting involves making use of computers and accounting software to record, store and analyze financial data.

Let me start this article by saying I am a qualified accountant who has taught accounting at a variety of levels for over 18 years.  I have also worked extensively as a business consultant for small and medium size enterprises.  I am continually amazed when I come across a business either not using a computerized accounting package or using spread sheets to do their accounts.  Therefore I decided to write a short article on the benefits of using a computerized accounting package.  The package I use for our small to medium business is MYOB (Mind Your Own Business) accounting software.

Download Here CBSE Class 12 Commerce Accountancy Using Computerized Accounting System For Complete Notes In PDF Format 

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Small and medium sized businesses can now buy ‘off the shelf’ accounting programs at remarkably low cost.  Larger businesses will often have customized programs made for their business.  The accounting programs carry out functions such as invoicing, dealing with payments, paying wages and providing regular accounting reports such as trading and profit and loss accounts and balance sheets.

The introduction of computerized accounting systems provide major advantages such as speed and accuracy of operation, and, perhaps most importantly, the ability to see the real-time state of the company’s financial position.  In my experience I have never seen a business that has upgraded to a computerized accounting system return to paper based accounting systems. A typical computerized accounting package will offer a number of different facilities.  These include:

– On-screen input and printout of sales invoices
– Automatic updating of customer accounts in the sales ledger
– Recording of suppliers’ invoices
– Automatic updating of suppliers’ accounts in the purchases ledger Recording of bank receipts
– Making payments to suppliers and for expenses
– Automatic updating of the general ledger
– Automatic adjustment of stock records
– Integration of a business database with the accounting program
– Automatic calculation of payroll and associated entries

Computerized accounting programs can provide instant reports for management, for example:

Aged debtors’ summary – a summary of customer accounts showing overdue amounts
– Trial balance, trading and profit and loss account and balance sheet
– Stock valuation
– Sales analysis
– Budget analysis and variance analysis
– GST/VAT returns
– Payroll analysis

When using a computerized accounting system the on computer, input screens have been designed for ease of use.  The main advantage is that each transaction needs only to be inputed once, unlike a manual double entry system where two or three entries are required. The computerized ledger system is fully integrated.  This means that when a business transaction is inputed on the computer it is recorded in a number of different accounting records at the same time.

CBSE Class 12 Commerce Accountancy Database Management System Complete Information

CBSE Class 12 Commerce Accountancy Part B Computerized Accounting :

A database is an organized collection of data. It is the collection of schems, tables, queries, reports, views, and other objects. The data are typically organized to model aspects of reality in a way that supports processes requiring information, such as modelling the availability of rooms in hotels in a way that supports finding a hotel with vacancies.

A database management system (DBMS) is a computer software application that interacts with the user, other applications, and the database itself to capture and analyze data. A general-purpose DBMS is designed to allow the definition, creation, querying, update, and administration of databases. Well-known DBMSs include MySQL, PostgreSQL, MongoDB, MariaDB, Microsoft SQL Server, Oracle, Sybase, SAP HANA, MemSQL and IBM DB2. A database is not generally portable across different DBMSs, but different DBMS can interpenetrate by using standards such as SQL and ODBC or JDBC to allow a single application to work with more than one DBMS. Database management systems are often classified according to the database model that they support; the most popular database systems since the 1980s have all supported the relational model as represented by the SQL language. Sometimes a DBMS is loosely referred to as a “database”

Terminology and overview

Formally, a “database” refers to a set of related data and the way it is organized. Access to this data is usually provided by a “database management system” (DBMS) consisting of an integrated set of computer software that allows users to interact with one or more databases and provides access to all of the data contained in the database (although restrictions may exist that limit access to particular data). The DBMS provides various functions that allow entry, storage and retrieval of large quantities of information and provides ways to manage how that information is organized.

Download here CBSE Class 12 Commerce Accountancy Database Management System Complete Notes In PDF Format 

CBSE Class 12 Commerce Accountancy Part B Computerized Accounting Complete Details

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Important Note – Preparing for BCom?
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