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ACC 250 WEEK 2-DQ 1 - Week 2 Discussion Questions DQ 1 Due...

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Week 2 Discussion Questions DQ 1 Due Day 2 [Main forum] Post your response to the following: You have just completed training for your new position in a large accounting firm. The trainer has just covered the difference between manual accounting and computerized accounting. What questions do you have regarding the differences? What are the advantages of computerized accounting versus manual accounting?
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Accounting is an important part of every company. Businesses are required to keep books on their credits and debits. So  which is best for your business idea - people or software?   As many professional  accountants  and auditors state - accounting is a language of business which is accepted in all  developed and developing countries.   From the accounting theory it is known that accounting cycle includes the following steps: journalizing the transactions,  posting them to ledger accounts, preparing trial balance, making adjustment entries, preparing adjusted to end-of-period trial  balance, preparing  financial       statements      and appropriate disclosures, journalizing and posting the closing entries, and  preparing after-closing trial balance at last. From the first look it is not very difficult and it is so indeed, but when there are  thousands or millions of transactions the situation dramatically changes. Lots of transactions that must be processed in the  accounting cycle make this process routine and even a little mistake or inaccuracy can cause all the cycle from the very  beginning in order to find and correct the mistake. So as to shed some light on the matter lets examine accounting cycle  more thoroughly.     Information and communication element means the control over communication flow and the quality of information flow  within the organization in order to minimize the time of communication and information losses. 
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