Role of Computers in Accounting - 3502 Words

MODULE - 2 Trial Balance and Computers Computer and Computerised Accounting System Notes 12 COMPUTER AND COMPUTERISED ACCOUNTING SYSTEM With the expansion of business the number of transactions increased. The manual method of keeping and maintaining records was found to be unmanageable. With the introducton of computers in business, the manual method of accounting is being gradually replaced. And finally, the database technology has revolutionised the accounts department of the business. organisations. In this lesson, we will study about characteristics of computer, role of computers in accounting, need of computerised accounting, etc. OBJECTIVES After studying this lesson, you will be able to: state the meaning and characteristics of†¦show more content†¦In the course of this evolution, they have become faster, smaller, cheaper, more reliable and user friendly. Components of Computer A computer consists of the major components i.e., Input Unit, Central Processing Unit and Output Unit. Diagrammatically, these components may be presented as follows: Notes Fig. 12.1 Components of computer 228 ACCOUNTANCY Computer and Computerised Accounting System Input Unit Input unit is controlling the various input devices which are used for entering data into the computer. The mostly used input devices are keyboard, mouse, and scanner. Other such devices are magnetic tape, magnetic disk, light pen, bar code reader, smart card reader, etc. Besides, there are other devices which respond to voice and physical touch. Physical touch system is installed at airport for obtaining the online information about departure and arrival of flight. The input unit is responsible for taking input and converting it into binary system. Central Processing Unit (CPU) The CPU is the control centre for a computer. It guides, directs and governs its performance. It is the brain of the computer. The main unit inside the computer is the Central Processing Unit. Central Processing Unit is to computer as the brain is to human body. This is used to store program, photos, graphics, and data and obey the instructions in progra m. It is divided into three subunits: (a) Control Unit (b) Memory Unit (c) Arithmetic Logic Unit (ALU) Control Unit ControlShow MoreRelatedI Am A Candidate For Aass Accounting At St. Paul College And University992 Words   |  4 PagesI am a candidate for AAS in Accounting at St. Paul College and University in Minneapolis, Minnesota for a full degree in accounting. It is my long term goal to be a financial consultant. Nowadays, the business world is changing at a faster and faster pace. The reasons for this faster pace are globalization, information technology, and the faster pace in technological change. The role of IT has shifted over the last decades to become an important part of how firms manage and control their resourcesRead MoreThe Effects of Technology on the Accounting Profession600 Words   |  3 PagesThe Effects of Technology on the Accounting Profession In today’s business society, the accounting technology whether it be software or hardware is a vital part of just about every major business. Many people overlook the importance of the role of accounting technology in business and in the accounting profession. The fact is technology such as accounting information systems can make or break a business. Utilization of Information Technology in the Retail Businesses (Wal-Mart) To succeed in theRead MoreThe Effects of Technology in the Accounting Profession1069 Words   |  5 PagesThe effects of technology on the accounting profession are clear and undeniable. The advancements in technology have increased both the accuracy and efficiency of the accounting profession. Thus, the advancements also bring an increase to the education in the accounting profession. In order to stay competitive with today fast pace society accountants must become more and more technologically incline. The accounting profession has experienced remarkable growth and success in both the 20th and theRead MoreRoles And Activities Of Management Accounting Essay1568 Words   |  7 PagesChanges in roles and activities of management accounting due to rapid changes in technology, can be described on following points: a. Changes in activities of data collection and control With advanced in technology, most companies are using accounting software or even Enterprise Resource Planning (â€Å"ERP†) system (such as SAP, Oracle, etc.) has the potential to have significant impact on the work of management accountants, as it reduces routine information gathering and the processing of informationRead MoreHow Technology Affects The Role And Function Of Ais1459 Words   |  6 PagesTechnology and AIS Introduction Traditional accounting system is hard to adopt today’s dynamic and turbulent business environment as the changing business has much more data which needs to be analyzed than before. A dynamic AIS is important for today’s business especially large enterprises because it can help cut costs, control risks and better plan resources (Prasad, A. and Green, P. 2015, p. 124). Under this circumstance, technology plays an essential role on making AIS possible to response to internalRead MoreThe Impact Of Information Technology On Accounting Activities1051 Words   |  5 Pagessociety, Accounting has experienced approximately several stages. In theses stages, the development of advance technology for accounting is so important that its influence could not be overlooked. In today highly competitive, dramatically changed global economy, rapidly fluctuated business market, organizations have been forced to consider how to use information technologies to hold advanced competitiveness . As introducing of these information technologies into organizations, accounting activitiesRead MoreExplain How the Role of an Accountant Has Changed over Time. Essay1440 Words   |  6 PagesExplain how the role of an accountant has changed over time. Discuss the role of the accountant in modern business. I. Introduction. Thesis statement: Many changes have happened in Accounting in the last few years. Most of which are differences in styles and also ways to implement this knowledge in modern business. II. What are an older-style accountant and modern accountant? 1. Overview of the situation in the past. 2. Previous information about an older- style accountantRead MoreComputerized vs. Manual Accounting1630 Words   |  7 PagesPrepared For : Mr. Nelson Title: | Computerized Accounting should completely replaces Manual AccountingPrepared By : Ali H. Al-MuslimID#: 200628620Section# : 05SN#: 02Group#:01Word Count:1,333 | 10/7/2012 10/7/2012 Table of Contents Table of Contents II Introduction 3 I. Manual Accounting 4 A. Benefits 4 1. Cost effective 4 2. Availability 4 B. Limitations 4 1. Finding Errors 4 2. Time Factor 5 II. Computerized Accounting 5 A. Benefits 5 1. Speed 5 2. SavingRead MoreCareer Fair1124 Words   |  5 PagesAbstract Accurate accounting and the understanding can make or break your company or organization; not to mention possible jail time in the worse cases. The first way of ensuring accurate accounting is understanding the objectives. The second way is to understand the terminology of the accounting process and in the financial reporting aspects. The third way is to understand the ethics behind the accounting and reporting process. The forth way is to impement your role in the accounting process. â€Æ' CareerRead More Management Accounting Essay778 Words   |  4 PagesChallenge or threat?-Management Accounting Missing Article This article is a bout the changing demands of the business world and the impact it will have on management accounting. According to this article the business role that management accountants play will be significantly different in the future. While this change is inevitable it is unclear how many of todays accountants will be able or willing to adjust to the change and conform to what is being called New Accounting. Accountants in the future

Five Concepts Important for Successful Communication in an...

Five Concepts Important for Successful Communication in an Organization Jaime Leigh Plym COM 425: Communication in Organizations Jerry Simpson 08 October 2012 Five Concepts Important for Successful Communication in an Organization Successful communication is one of the most important aspects of an organization. Without it, nothing can be accomplished. There are many concepts of communication that must happen within the workplace. In this paper, I will discuss the five concepts that I feel are the most important for successful communication within an organizational setting. I will discuss how to practice active listening, the importance of organizational culture, how to resolve conflict, the key principles of human communication,†¦show more content†¦Most members all feel a bond with each other because of this culture. Organizational culture creates jargon and a common language, a value system, and visions and goals for the organization (Krebs, 2011). Conflict in an organization is inevitable, but that is not necessarily a negative thing. Knowing how to resolve and manage conflict is essential in successful communication within an organization. Conflict that is handled effectively can actually lead to better group decision making and better group cohesiveness. Tim Scudder, coauthor of the book Have a Nice Conflict, says that managing and resolving conflict is in knowing that it could happen. You need to be able to identify conflict so that when it inevitably does happen, you know (youtube.com). From that point, a resolution can be made. People have different opinions, experiences, and perspectives. This is what causes conflict in the workplace. This conflict can be good and healthy in a number of ways. For example, if the conflict is handled correctly, the conflict could share information that can provide different views and perspectives to the group. Arguing can help the group members find and identify different courses of action and solutions. Believe it or not, conflict can actually improve the organization’s camaraderie and pride. Conflict can be turned into a positive thing by encouraging open minds, promoting fairShow MoreRelatedEffective Business Communication : Th e Success Of An Organization1155 Words   |  5 PagesEffective business Communication is crucial to the success of an organization. The ability to communicate successfully with your audience shows your knowledge of the matter and your level of professionalism to handle the issue. Successful communication, ethical communication, collaboration, listening, nonverbal skills, business messages, direct and indirect approaches, business etiquette and establishing creditability, to name a few, are concepts that influence business communication and the abilityRead MoreCommunication Is A Process Of An Organization Afloat955 Words   |  4 Pageskeep an organization afloat, a system must be put into place to secure the effectiveness of communications. Communication is not something that is a given, according to Kreps, â€Å"communication is a process† and â€Å"communication does not start and stop; it is continuous, dynamic, ongoing, and cumulative. Whenever we create and respond to messages—either internally or externally generated messages—and create meanings in response to these messages, we are engaging in the process of communication. Since weRead MoreOrganizational Change Is Inevitable?1736 Words   |  7 Pageswhere the change is needed. In order to ensure viability, productivity and ultimate success of an organization, it is essential that the type of change be identified and proper steps and procedures developed to manage change appropriately. In every organization, cycles of change must happen for continued growth and successful progression toward in the overall mission. Leaders in an organization may be faced with minor changes such as updating of a policy or form, or addition of just one personRead MoreThe Five Dysfunctions of a Team Review1275 Words   |  6 PagesWorking in Teams Reflection After reading The Five Dysfunctions of a Team by Pat Lencioni, discussing the function of effective teams in class, and completing various team building exercises, I have developed a much better understanding of the importance of a proper team in a business setting and how good team work can produce more efficient and productive results. Having played a variety of team sports throughout my life, I saw a lot of parallels throughout the class work on team building betweenRead MoreOrganizational Structure And Management Process Essay1630 Words   |  7 PagesOne of the most important aspects of any organization is its structure and its management process. The success of any firm is directly related to how well it is organized and how effective it s managed. Organizational structure and management processes are interrelated and they provide a gauge as to how effective an overall business strategy is implemented. The measure of success in any business is how effectively it can compete in finding new opportunities and having the internal structure necessaryRead MoreManagement for Organization1603 Words   |  7 PagesMGT330: Management for Organizations Kyle Kontour May 18, 2015 Final Paper The five management functions are used in all organizations, which are planning, organizing, staffing, leading and control. Each one of these functions is applied to make sure that the organization is successful with hitting the goals, within the organization. This helps with employeesRead More5 Management Principles and Concepts1239 Words   |  5 Pages5 Management Principles/Concepts Management is the concept of getting work done through others. This concept began evolving in the 1880’s from being ideas and practices into a field of study. In Chuck Williams’ recent edition of â€Å"Management†, he establishes that there were several instrumental influences on the paradigm shift in the field of management. Those parties include but are not limited to, Fredrick Taylor, Frank and Lillian Gilbreth, Henry Gantt, and Henri Fayol. These parties developedRead MoreInnovation Process1310 Words   |  6 PagesInnovation Process In order for organizations to become successful or maintain an ongoing success, they need to accommodate any necessary changes needed while remaining on a competitive edge. With this known, companies such as Coca-Cola have easily shown their success by becoming the largest manufacturer, marketer, and distributor of nonalcoholic beverages by which the company has products sold in 200 counties world wide. In this paper Team B will identify and explain the four phases of theRead MoreMarketing Concept and the possible limitations to this concept.1458 Words   |  6 Pageswant through creating and exchanging products and values with others.(Kotler.P 2002 : 5) The goals of marketing is to attract new customers by promising superior value and keep and grow current customers by delivering satisfaction. There are five core concepts of marketing, which includes needs, wants and demand; products, services and experience; value, satisfaction and quality; exchanges, transactions and relationsh ips; and finally, market and marketing. After World War II, the variety of productsRead MoreEssay on Strategic Program Management Worksheet1683 Words   |  7 Pagescourse, to identify the key concepts involved that you will need to understand in order to solve whatever problems you might encounter in those situations. Complete the table below by identifying at least five concepts that you will study from the text on the rEsource page in order to resolve the situations presented; list and briefly describe them in column A. You have on the rEsource page a scenario that provides an examples of realistic situation in which these concepts apply. Examine this scenario

Law of Business Organization Corporate Fraud

Question: Discuss about the Law of Business Organization for Corporate Fraud. Answer: Introduction Corporate fraud has been happening all over the world and causing harm to the interests of various stakeholders. The greed of a few people results in millions of dollars being illegally taken away from thousands of investors who had placed their trust in the management of a company. It is the government in any country which is expected to protect the rights of such people and punish those who have committed fraud. But to achieve this purpose laws have to be framed and enforced in an intelligent and efficient way[1]. Corporate fraud in Australian companies Over the years there have been many cases of corporate fraud in Australia. Various laws have been enacted but, still, this has not stopped people in the business world to cheat others and break the law. In 1980s and 1990s in Australia there have been instances of business people misappropriating the money of investors illegally or misleading the investors by spreading wrong information relating to their businesses. The basic intention of these corrupt people is to make individual profits by applying means or methods that have been prohibited by law. Such people want to gain unfair advantage in the competitive business world though such illegal approaches to make money. They are ready to take the risk of breaking the law sometimes feeling that law enforcement agencies would not be able to detect their cheating. On many occasions they feel that even if they get caught they would be able to take advantage of the loopholes in the laws and get away with a mild punishment or payment of a m uch lesser compensation. In recent times the instances of Australian Companies bribing public officials in other companies to win contracts have increased. But that does not mean that other types of corporate frauds have come to an end. There is need for law making and law enforcing agencies to prevent any type of corporate fraud. The need is to promote a culture and an environment where companies realize that they have no option but to adopt fair practices in their business dealings and the investors and the customers also feel that their interests are protected. There are still significant cases of corporate frauds in Australia and the government should remain committed to eliminate such events. Corporate fraud by Allan Bond In a case in Australian courts, an individual Alan Bond was accused of being part of business dealings, also involving government, which resulted in loss of public money amounting to $ 600 million. Alan Bond was also accused of siphoning of money from one of the companies Bell Resources, controlled by the individual to another company named Bond Corporation owned by the person. Allan Bond was a manipulator with business interests in property industry, gold mining and brewing wine. But these risky methods led to the failure of many of the individuals businesses. Many shareholders who had invested in Allans companies lost money. The compensation provided to the creditors was considered very inadequate and many of them felt that they were unfairly treated by law[2]. Allan Bond was sentenced to seven years in prison for defrauding Bell Resources. The individual after being released from prison, got engaged in business, again made a fortune but lost it again due to malpractices and rash b usiness decisions. The individuals companies were liquidated[3]. There has been a legal case fought in courts for the recovery of money owed to creditors of Bell Group from which Allan Bond siphoned off money to Bond Corporation for last twenty years in various courts of Australia. Ultimately the government has set up a statutory authority to arrange for the payment of money to creditors as per a settlement[4]. This shows the far reaching consequences of a fraud committed by Allan Bond. Once money has been taken away illegally, it takes lot of time, efforts and expenses to recover the lost amount and compensate the victims of the crime. The judgement in such cases should be delivered much faster. There is the need to make the Corporation Act and other regulatory bodies more effective. There are many who feel that Allan Bond should have been given more severe punishment under the law for defrauding Bell resources because the amount involved in the fraud was very high. There have been instances where people who have misappropriated far lesser money have been given comparatively much harsher imprisonment in relation to their crime. This shows that there is the need to amend the present laws to provide a more effective deterrent to people who intend to commit such frauds. The punishment given to the guilty should be commensurate with the amount of money which has been taken away illegally. The law should be more transparent, reasonable and just in such cases. The severity of the crime committed and its far reaching effects should be recognized by the law. Corporate fraud by Rodney Adler In another case a person named Rodney Adler was sentenced to serve four years and six months in prison for the role the individual played in the collapse of the company HIH Insurance[5]. This company collapsed in 2001 with liabilities of $ 5.3 billion. Rodney Adler was held guilty of making false statements to induce purchases of HIH Insurance shares and also of lying to secure money from HIH Insurance for a company in which Adler had an interest. In this case the laws cited by the Supreme Court of New South Wales Common Law Division were Corporations Act 2001 (Cth) ss184 (1)(b), 997, 999,Crimes Act 1900 (NSW) s178BB, Crimes Act 1914 (Cth) Part 1B, Crimes (Sentencing Procedure) Act 1999 (NSW) . Insider trading by Hochtief AG In another case Australian Securities And Investment Commission has brought German construction company Hochtief AG into court for committing insider trading in a purchase of shares of Leigton Holdings. In this case it was alleged that Hochtief Australia Holdings Limited which held a large number of shares in Leigton Holdings, had information about the financial performance of Leigton Holdings before the financial results were declared. Hochtief AG knew that Leigton had better financial results as compared to the previous year. So Hochtief which had a majority shareholding in Leigton, unfairly, in 2014, pushed forward the last date for purchasing the shares of Leigton and made its subsidiary purchase shares of Leigton[6]. In this case it was argued that insider trading laws of Corporation Act had been breached. Insider information is the information about the company which is not generally available and likely to have an effect on the value of a financial product of the firm[7]. Financial products included under insider trading law include all securities that can be traded on the stock exchange. It is an offence under the Corporations Act to trade using inside information, or pass such information to others who are likely to trade on the basis of such inside information. Bribery in corporate world There are many companies from the world's most developed economies which are perceived to frequently pay bribes when doing business internationally, despite of new laws and international commitments to eradicate bribery in business. While many of the developed economic powers show slow economic growth, in many emerging economies the incomes of people have risen and there is greater demand for goods and services. Thus there are greater opportunities for foreign investment and trade in these countries. But the foreign companies have to compete with the local industry in these countries apart from competition between companies from the developed world. Moreover the business policies of the governments in many of these countries have also led to public officials demanding illegal payments to get government contracts in favour of these foreign companies. The culture in these relatively poor countries is also breeding corrupt practices of the foreign companies. But there has been growing a wareness among governments and people of different countries that there is a need to stop these corrupt practices and make international business clean[8]. The Australian federal government has laws which prohibit bribery of federal public officials,as well as foreign public officials[9]. The specific criminal offence of bribing a foreign public official is dealt with in Section 70.2 of the Bribery Act. There has been renewed focus on bribery and corruption by the Australian police. Steps have been taken for restructuring of investigative systems, improving cooperation within government agencies, as well as between Australian and foreign authorities. Many Australian companies have now realized that doing business abroad without taking effective anti-bribery and corruption measures would have serious adverse legal consequences for them. The government of Australia has also committed itself on international forums to adopt practices to prevent foreign bribery by Australian companies[10]. It has to be understood that victims of fraudulent acts are not only shareholders or customers of the company; innocent employees are at risk as they can lose their jobs as a consequence of these crimes. Sometimes the senior executes of a company collude with one another to commit frauds which are very difficult to detect. One of the effective ways to prevent such fraud is to make companies disclose their financial records and enforce better auditing controls. Steps have to be taken to ensure that regulators and the courts in Australia focus upon achieving effective enforcement strategies in regard to theCorporations Act. There are some people who argue that the investigation and enforcement powers of Australias corporate regulator, the Australian Securities and Investments Commission (ASIC) are probably narrower than those of some comparable foreign counterparts like in the United States of America and United Kingdom, and that there is an urgent need to expand its powers. Conclusion There is need for external regulation of corporations by law enforcement bodies and also internal regulation by the management of the companies to prevent frauds from happening. The aim should be to promote ethical culture in business organizations so that they can self regulate their behavior. If the thinking of people is changed then people would not make use of fraudulent ways to make money. But that should be the long term goal. The government needs to be vigilant and strengthen the legal system to detect illegal activities in the corporate world and punish those found guilty of breaking the law. References Abc.net.au, Bell Group Money To Be Disbursed By Statutory Authority (22 August 2016) https://www.abc.net.au/news/2015-05-06/bell-group-money-to-be-disbursed-by-statutory-authority/6450596 Abc.net.au, Hochtief Faces Leighton Insider Trading Case Brought By ASIC (22 August 2016) https://www.abc.net.au/news/2016-02-02/hochtief-leighton-insider-trading-asic/7133384 Asic.gov.au, Creditors- Liquidation (22August 2016) https://asic.gov.au/regulatory-resources/insolvency/insolvency-for-creditors/creditors-liquidation/ Australian Politics.com, Rodney Adler Sentenced To Four And A Half Years Jail (22 August 2016) https://australianpolitics.com/2005/04/14/rodney-adler-jailed-over-hih-collapse.html Financierworldwide.com, Australia Tells OECD It Is Getting Serious About Foreign Bribery (22 August 2016) https://www.financierworldwide.com/australia-tells-oecd-it-is-getting-serious-about-foreign-bribery/#.V7qUplt97Dc Jeremy Gans, Modern Criminal Law Of Australia (Cambridge University Press, 2011) 266 Perthnow.com, Alan Bond Is No Hero Say Victims (22 August 2016) https://www.perthnow.com.au/news/western-australia/alan-bond-is-no-hero-say-victims/story-fnhocxo3-1226663242823 Stephen M. Bainbridge, Research Handbook On Insider Trading (Edward Elgar Publishing Limited 2013) 1 Stuart H. Deming, Anti Bribery Laws In Common Law Jurisdictions (Oxford University Press, 2014) 10 Westlawn.com.au, Cost Of Fraud In Australia $8.5 billion (23 August 2016) https://westlawn.com.au/cost-of-fraud-in-australia-8-5-billion-only-5-of-businesses-protected/ Yahong Zhang and Cecilia Lavena, Government Anti Corruption Strategies: A Cross Cultural Perspective (CRC Press Taylor And Francis Group, 2015) 215

Short Stories Essays - Rhetorical Techniques,

Short Stories Nathaniel Hawthorne, Young Goodman Brown Goodman Brown was not asleep in this short story. As I read, I believed that Goodman did indeed meet the devil in the forest. If he had indeed dreamt about the trip he was sent on and meeting the devil, I think his nervousness would have been described in more detail then it was. Concentrating more on the anxiety he was feeling would have led the reader to believe that the events were not real. I also saw this story as an allegory. I saw the allegory after reading the story two times. I think it is centered on Goodman Brown having a bumpy past and that he wants to go beyond his past and reach heaven. The characters names also show the religious allegory in the story. The names Goodman and Faith are used and the characters are then soon faced with terrifying evil. I think that Goodman Brown and his wife, Faiths names symbolize that they are good, religious people and that Goodman is making up everyone being evil in his head. I found an essay by Alexa Carlson that described the symbolism in light vs. dark, forest vs. town, nature vs. human, and fantasy vs. reality. In her paper, Essay #1: Young Goodman Brown, she states that fantasy vs. reality are employed to reinforce the idea that good and evil have been set up as strict categories into which no one, not even the religious figures of the community, fit neatly. As she later writes, if Hawthorne was apprehensive about what he considers right and wrong in terms of human behavior, I think he would have spend more time building up his tragic end. Young Goodman Brown was a pretty sad story because he was happy with all the locals and his faith until the trip came into Goodman Browns life. Goodman is pure going into the forest, but in a sense comes out of the forest somewhat evil. He comes back thinking he is better than everyone else and ends up isolating himself to lead a very lonely life. Source: Carlson, Alexa. Essay #1: Young Goodman Brown. www.crwl.utexas.edu Nathaniel Hawthorne, My Kinsman, Major Molineaux I read some information about Nathaniel Hawthornes life and then thinking back to this story, I see his life somewhat reflected in the main character. I saw him relating himself to Robin and parallel the emotions and similarities to that of his own life. I remember reading that Hawthorne locked himself up in a room for twelve years and completely isolated himself from the people around him. In My Kinsman, Major Molineaux, Robin is given a lesson and isolated from the group of the new colony. He leads himself to his own misery and disrespect because he recognized himself as a kinsman and wanted something back. Both Hawthorne and Robin face the problem of being accepted by society. They both had their shares of complications and complexity fitting in with their surroundings. The first paragraph of the story is there to let you know something. There is a hint hidden in the paragraph about the fate of Major Molineaux. He states that uprisings are beginning to occur in the colonies. Robin is an 18 year old who travels across the ocean to see Major Molineaux. He seems confident that all will work out even though he does not know where his uncle lives. He goes with little money and asks where Major Molineaux lives. His first attempt to find his uncle is a disappointment. All the people he asks are mean to him but he still keeps looking. From the story, I get that Robin does not really want to find Major Molineaux. Once he sees his uncle tarred and feathered, he starts laughing and realizing how much he has grown from his trip. The older people in the story seem to be really mean. I think they have a greater hatred toward Major Molineaux. The man Robin sees with the black and red face scares him. I think the red and black represent danger and anger and possibly evil. The danger could represent either that the mob is supposed to be something evil or that the mob represents the violent changes