ACCOUNTING IN IT

1st SEM

Identify whether TRUE or FALSE. If false, explain why.

1. Information is a business resource.

Answer : True
2. IT outsourcing is location-independent computing
Answer: FALSE, IT outsourcing providers can take full responsibility for all
IT maintenance and it’s Service. So it is Impossible To work Alone, because IT
support and is usually an approach taken by LARGER organization’s.

3. Information lacking reliability may still have value

Answer: FALSE, Businesses often ignore the common problems that can cause
data to be unreliable As a result, businesses suffer from missteps that can Lead
to Bankruptcy.

4. A balance sheet prepared in conformity with GAAP is an example of discretionary

reporting.
Answer: FALSE, The Management Reporting System gives the inside budgetary
data expected to deal with a business. The majority of the contributions to the
General Ledger System originate from the Financial Reporting System.

5. The Management Reporting System provides Internal Financial Information needed

to manage a business
Answer: True

6. When preparing discretionary reports, organizations can choose what information to

report and how to present it.
Answer: True

7. Most of the inputs to the General Ledger System come what information to report
and how to present it.
Answer: False, While planning optional reports, associations can pick what data to
report and how to introduce it. Frameworks improvement speaks to 80 to 90
percent of the absolute expense of a PC framework.
8. Retrieval is the task of permanently removing obsolete or redundant records from
database.
Answer: FALSE, Duplicate records not only take a massive amount of
space but also make the database query execution process slower.
Therefore, every developer should know how to delete duplicate
records.
9. Systems development represents 80 to 90 percent of the total cost of a computer
system
Answer: FALSE, The database administrator is responsible for the security and
integrity of the database, it is the real Backbone of the System Development.

ESSAY. (10 points) Explain the importance of IT in Accounting

ACCOUNTING IN IT
1st SEM

ESSAY IMPORTANCE OF IT IN ACCOUNTING

To run a business you need data, records, reports, analysis, accurate information about
assets, debts, liabilities, profits; and that is why Accounting is Importance for any business
activities. The accounting information is very important for the management or the decision
making the body of an organization.

Management cannot decide without reasonable information for backing it up.

To make a decision, it has to be based on genuine facts and figures. For deciding every level
of management, information is crucial.