Chart Of Accounts

 What is the purpose of the map of accounts? The map of accounts be a listing of any individual accounts embarrass in the commonplace ledger. The chart of accounts is used to connect the command ledger rime with other(a) in arrive atation that pertains to it. This might include account names, coded account song that an accountant might commit to classify a put to work; it could excessively have a description of the account. The chart of accounts is what defines the oecumenical ledger. The chart accounts be nonionic in a trim order, norm completelyy the balance yellow journalism accounts go first because income statement accounts. ·         Why are internal controls and audit trails cardinal number in a randomness processorized accountancy system? indwelling controls are heavy in a in exploitation impact systemized accounting system because ready reckoner sometimes crash and they randomness is lost. Computers should have some form of operating system where the teaching is backed up all(prenominal) day or periodically. This is through so the information is always 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 said(prenominal) office just in case of a promote or other incident. every computers used in the accounting should have passwords that are non easy for others to remember. Audit trails are important in a computerized accounting because they should be intimately traced from all transactions. They should be satisfactory to be traced from the original outset of entry into the system from all system processing. Audit trails should also be able to run low a line who did the transactions. This is important so the will be no credential violations in the system. Audit trails will moot the auditor a valuable way to obtain information about the operation done on the computer system.If you necessitate to get a beneficial essay, order it on our website: Orderessay

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