44081666 JAIIB Super Notes Accounting Finance for Bankers Module D Accounting in Computerised...

8/10/2019 44081666 JAIIB Super Notes Accounting Finance for Bankers Module D Accounting in Computerised Environment

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JAIIBSuper-Notes M S Ahluwalia Sirf Business

Accounting in Computerized Environment

Module D: Final Accounts

Accounting in Computerized Environment
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JAIIB

SUPER NOTES

Accounting & Finance for Bankers: Computerized Accounting
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Contents

Coverage:

1. Computerised Accounting

2. Need and Evolution

3. Core Banking


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COMPUTERISED ACCOUNTING

1.


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Computerised Accounting - Meaning

Data is captured in the form of Accounting Entries

These are used to prepare Financial Statements which are

based on Accounting Standards

This data and the statements are further utilized to prepare

various Financial reports


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Advantages & Disadvantages

Features:

Very high speed

Highly accurate - Errorfree

Various InformativeReports

Economical

Single Stand Alone Unitor Multiple Users

Advantages

Accuracy

Speed

Low Cost in long run

Generation of VariousReports

Automatic formation ofall subsidiary books andstatements

Multiple printouts

Disadvantages:

Requirement of specialprograms andprofessionals

Qualified Staff requiredfor Operations

Costly computerperipherals andstationery

Data theft is easy due toeasier access

Regular Back-UpRequired

Threat due to computerviruses


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Computerised Accounting vs. Manual Accounting

Computerized Accounting

Difficult to find out the trail of events

Modification of original records is difficultto trace

Multiple Reports can easily be generated

Manual Accounting

Easier to assess trail of events

Modification is relatively easy to find out

Generation of multiple reports is Timeand Resource intensive


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NEED AND EVOLUTION

2.


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Functions of Accounting Software

Maintenanceof Statutory

Books

ReportGeneration

ForeignCurrency

Conversion

ValuationMaintenanceof Accounts

Planning

Various Software Tools: Tally, Accounting software, Bank 2000, B@nk-24CBS,A.U.D.I.T.O.R. & A.U.D.I.T.I.M.E., MEFCOMP Accounting Software for

Professionals, QUICK FA are available


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Scope and Experiences of Computerisation in Banking

ComputerisedOperations

AccountingDeposits

RemittancesStanding

Instructions

AutomatedBanking

ComputerisedAccounting

LendingCheque

Clearance

Centralised

Banking


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Need and Evolution of Centralised Infrastructure

DecentralisedBanking

Multi-ChannelBanking

Cost Benefitsof Data

Centres

Unified IP

Network

Core Banking


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CORE BANKING

3.


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Accounting Systems

The computerised Accounting system may be on a single

stand alone machine or a multi-user system i.e. WAN or LAN.


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Statutory Books, Reports, Connecting branches, converting

foreign currency,

Giving all figures including profits : branch wise area wise.

Closing stock values.

Comp. Banking Operations, Accepting Deposits, lending,

Remittances, Clearing of cheques, Standing Instructions,

Centralized Banking, Automated Banking.

EOD & BOD


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System Layers

SystemLayers

Presentation

Layers

DeliveryLayers

Interface

Application

Layers

Database Layers

Interface todatabase using

appropriate call

levels &languag

e


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Transaction Processing

Primary update for Customers transactions

Secondary updates for transactions like salary (tape or disc)

Batch processing (interest posting)

Online Processing : Account & Customer creation, Financial

transactions & Enquiries Maintenance


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Balancing Account

Balancing Account is used to route the transactions. In batch

process. There one Dr. 10000 to be credited to 10 different

accounts : Dr. Customer A/c Rs.10000& Cr. Balancing

Rs.10000.

Thereafter Dr. Balancing A/c 10 times @ Rs.1000.


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Information Security

Access Control Systems, Operations, E-mail, Application &

System Development, Business Continuity & Disaster,

Communication & network, Physical Security Control over

Modem, Password secrecy


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Computer language: cobol, foxpro, unix etc

Analog computers : scientific and mech. Field

Digital computers: computerized accounting

Data : fact

Record : group of data

Data file: data records


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Do you have any questions or queries or some feedback to give?

Just mark an email to [email protected]
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JAIIBSuper-Notes M S Ahluwalia Sirf BusinessFor more Super-Notes: Click Here

M S Ahluwalia, amongst other things, is a visual artist, blogger,

blog designer and of course an MBA and Banker from New

Delhi, India.

To know more about him you may visit his blog-site: Estudiante De La Vida
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