Chart Of Accounts

 What is the purpose of the map of accounts? The graph of accounts be a listing of any individual accounts included in the commonplace ledger. The chart of accounts is used to connect the prevalent ledger rime with other(a) in arrive atation that pertains to it. This might include account names, coded account numbers game that an accountant might assign to classify a plow; it could excessively have a description of the account. The chart of accounts is what defines the general ledger. The chart accounts ar organized in a supererogatory order, normally the balance sheet accounts go first hence income statement accounts. ·         Why are internal controls and audit trails profound in a data processorized be system? inner controls are central in a data process systemized accounting system because computer sometimes crash and they tuition is lost. Computers should have some form of operating system where the information is backed up either da y or periodically. This is through so the information is unceasingly avail satisfactory or restored accurately regardless of a computer crash.

This information should be through with(p) and the backup should non be kept in the aforesaid(prenominal) office just in case of a nurture or other incident. every computers used in the accounting should have passwords that are not easy for others to remember. Audit trails are important in a computerized accounting because they should be soft traced from all transactions. They should be able to be traced from the original root system of entry into the system from all system proce ssing. Audit trails should also be able to ! get a line who did the transactions. This is important so the will be no credential violations in the system. Audit trails will give the auditor a valuable way to obtain information about the operation done on the computer system.If you want to get a affluent essay, order it on our website: OrderCustomPaper.com

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