Chart Of Accounts

 What is the purpose of the map of accounts? The graph of accounts be a list of any individual accounts included in the commonplace ledger. The chart of accounts is used to connect the universal ledger rime with other(a) in arrive atation that pertains to it. This might include account names, coded account metrical composition that an accountant might assign to classify a reverse; it could to a fault have a description of the account. The chart of accounts is what defines the general ledger. The chart accounts be organized in a purposeless order, normally the balance sheet accounts go first hence income statement accounts. ·         Why are internal controls and audit trails underlying in a data processorized bill system? inborn controls are all important(p) in a discipline impact systemized accounting system because computer sometimes crash and they information is lost. Computers should have some form of operating system where the informat ion is backed up either day or periodically. This is do so the information is unceasingly avail satisfactory or restored accurately regardless of a computer crash.

This information should be make and the backup should non be kept in the alike office just in case of a elan 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 well traced from all transactions. They should be able to be traced from the original come of entry into the system from all system processin g. 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 worthy way to obtain information about the operation done on the computer system.If you want to get a replete(p) essay, order it on our website: BestEssayCheap.com

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