Information tecnology and computer applications in accounting

What is the role of design and presentation in a business and what are some examples

-Advances made in graphic digital photography displayed in colourful -Financial and management enable design and information to be and clearer ways can be designed to be user-friendly accounting reports Examples are desktop publishing (DTP), used to design invoices and other business documents

What is the role of storage, archiving an retrieval for a business and what are examples

-Businesses and individuals can store all their files, douments and charts on microchips and through cloud commputing -Information can be acessed from anywhere in the world examples are USB storage, iCloud, Dropbox and google drive

What are the roles of ICT and computers in a business

-Communication and networking -Search engines -Financial transactions -Strorage, archiving and retrieval -Design and presentation -Organisation -Document processing -Telecommuting and remote business -Marketing -E-learning

What is the role of ICT and computer for financial transactions in business

-E-commerce is a growing industry, allowing online purchases/sales through the use of credit cards, debit cards and online bank transactions examples include mastecard, visa debit, banking 365 and revoult

What is Electronic Data Interchange (EDI)

-EDI is how computers communicate directly with each other. It allows businesses to communicate information such as orders,invoices and electronic payments digitally reducing the need for paperwork. -EDI is especially useful in areas such as stock control, helping to avoid stock outs and making sure payments are made on time.

What is the role of communication and networking in a business and give examples

-Email communication, video and web conferencing and social networking have all made global business space a much smaller place in recent years -Teams of departmental managers can meet together or meet with suppliers and other interested parties worldwide Examples include facebook, zoom, instagram, skype, whatsapp and tiktok

What are the important benefits of IT in accounting

-Financial information being prepared quickly, saving time and money -Financial information being presented in a user-friendly way, including charts and graphs -Individual financial reports being prepared for departmental managers to aid decision-making -Improved accuracy of recording information Improved reporting for external users

How is administration an advantage of IT usage in accounting practises

-Having all documents available in one place can help reduce levels of bureaucracy, saving time -Keeping all data in cloud storage enables users to access information from anywhere in the world

What is the role fo telecommuting and remote businesses in business and give examples

-ICT enables businesses to operate remotely from anywhere in the world -Working from home is becoming the new office for many examples are smartphone, laptop, tablet computer and wireless internet

What is the role of organistaion in a business and what are some examples

-ICT has improved management of many businesses the efficiency and -ICT is used for keeping stock level information. contacts financial records, billing and management of contacts examples include spreadsheet, database and electronic data interchange (EDI)

What is the role of document processing in a business and what are some examples

-ICT is used to create letters, leaflets and reports -Many simple editing make the business look tools help in many professional ways to make the business look professional. examples are word processing, spell checker, insert/edit and paste content

How is tax compliance an advantage of IT use for accounting practises

-IT systems can use automation and reporting to ensure that a firm is fully tax compliant -The system can be updated on a regular basis to ensure that the business is always up to date with the latest tax legislation

What is the role of search engines in business and give some examples

-Information different prices for raw materials quickly, e.g. purchasing managers can find can be accessed worldwide very examples include google, yahoo! and bing

How is storage an advantage of IT for accounting practises

-Less expensive and time-consuming than paper-based records as less physical space is required -Use of cloud computing allows fast access from anywhere in the world

How is electronic diary/calender an advantage of IT for accounting practises

-Online diaries and calendars mean managers are less likely to miss deadlines, therefore avoiding fines or missing out on discounts -For example, to ensure all payments are made on time through alerts and reminders being set on key dates and times

What is the role of marketing in business and what are examples

-Online marketing helps a business to reach a wide audience -This is even more important in an ever- increasing global society examples are social media, website, blogging and E-newletters

How is training an advantage of IT for accounting practises

-Regular staff training will ensure employees are always up to date, which will help to avoid mistakes and save the business time —Training must be provided on an ongoing basis to ensure that employees and the business are always up to date with changes in technology

What are the advanatges of IT for accounting practises

-Storage -Administration -Electronic diary/calender -Tax compliance -Training -Customer focus

What is the role of E-learning in business and give examples

-The use of ICT and electronic learning is increasing. This was especially 2020 throughout Covid-19 evident during -Allows employees to learn advance their career or change new skills to help to a new career examples are educational software, web-based training and virtual classrooms

How is customer focus an advantage of IT for accounting practises

Improved communication between accountants and customers makes it easy for clients to receive and understand financial information. Improved efficiency leads to improved customer satisfaction

What is ICT

Information and communications technology - the use of electronic devices and computers to store, transfer, access and manipulate (STAM) information.

What is a spreadsheet

A computer program that allows a user to enter, calculate and store data in a series of rows and columns.