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Benefits and Drawbacks of Computerised Accounting System

Benefits and Drawbacks of Computerized Accounting Systems 💻📊 In this lesson, learn about the advantages and disadvantages of computerized accounting systems and how they impact business operations and financial reporting. Understand why organizations adopt these systems and the potential challenges they face. 💡 Key Concepts Covered: Benefits of computerized accounting systems: Increased accuracy and reduced human error Faster processing of transactions Easy retrieval and reporting of financial data Enhanced security and data backup Improved decision-making through real-time information Drawbacks / Limitations: High initial setup and maintenance costs Dependence on technology and power supply Risk of cybersecurity threats and fraud Requirement for skilled personnel Possible system errors or software bugs Practical examples and real-world applications Considerations for organizations when implementing computerized accounting 🎯 Ideal For: Accounting, auditing, and finance students preparing for KNEC or professional exams Learners seeking to understand computerized accounting systems Aspiring accountants, IT auditors, and financial managers 📘 Learn With Manifested Publishers: Access structured video lessons, notes, and exercises to master the benefits and limitations of computerized accounting systems and improve financial management skills. 💻 Visit: www.manifestedpublishers.com 📞 Call/WhatsApp: +254 724 173 845 📌 Hashtags: #ComputerizedAccounting #AccountingSystems #BenefitsAndDrawbacks #ManifestedPublishers #KNECPrep #AccountingEducation #FinancialManagement #ITAuditing