BY – CA AMIT TATED
CHAPTER – 2
▪ CONCEPT OF ACCOUNTING :
Types of Data
Master Data
• Accounting ( sales, purchase
,ledger ,opening balance )
• Inventory
• Payroll ( name, address,
salary structure )
• Statutory ( GST,TDS)
Transaction / Non
master
• It will change frequently
FINANCIAL ACCOUNTING
Voucher
Voucher Types
• Accounting (purchase , sale,
receipts, payments, contra,
journal, dr. note, cr. Note)
• Inventory (purchase order,
sales order, stock journal ,
physical stock, delivery note,
receipt note)
• Payroll ( payroll, attendance )
Voucher Number
• Unique
• Separate numbering series
• Prefix /suffix ( both )
• Serially
• Chronologically ordered
SYSTEMS
Ledger Front END and Back End
• Domain expertise
Types
• Presentation
• Speed
• Language
• User experience
• Debit Balance – assets,
expenses Ways of using
• Credit Balance – income application software
and liability
• Installed application
• Web application
• Cloud based application.
Grouping of Ledger
Difference b/w installed and cloud
based application
• Can be done manually
• Installation and maintenance .
• Incorrect grouping can
• Mobile Application.
take place .
• Data storage/ security .
• Performance
•Flexibility
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BY – CA AMIT TATED
CHAPTER – 2 FINANCIAL ACCOUNTING
SYSTEMS
▪ ERP

Benefits Feature Risk and control Audit

• Information Integration • Finance a. People issue b. Process ❑ Audit of data
• Reduction in lead time • HR • Change management • Programme management • Physical safety
• On time shipment • Consultant • Business process • Access control
• Production
• Reduction in cycle time reengineering ❑ Audit of
• CRM
• Resource utilization • Top level management d . Implementation process
improved • SCM support
• Functional
• Better customer • Project • Training • Data safety • Input validation
satisfaction system • Staff turnover • Data access
• Improved supplier • Data c. Technological • System failure Role based access
performance warehouse
• Software functions – unused • Speed control
• Flexibility
• Obsolete • Insufficient funds ❖ Types of access
• Reduce quality cost
• Application portfolio • Lengthy implementation • Create
• Information accuracy management time • Alter
• Better analysis and • View
planning
• Upgrades e. Post implementation • Print

• Use of latest technology • Life long commitment

2
For purchasing Pen-drive/Google-drive Lecture visit : www.atacademy.co.in /www.amittated.com Contact number:9820568915

BY – CA AMIT TATED
CHAPTER – 2 FINANCIAL ACCOUNTING
SYSTEMS
▪ Modules :

•Define and Map Finance and Controlling Sales

Process HR Purchase
•Performance measure and improvement accounts
Management •Standardization and adherence
▪ Cost element ▪ Recruitment Purchase ▪ Pre – sale
▪ Accounts accounting requisition activity
▪ Orientation
•Source document payable/receivable
Purchase
▪ Cost Centre ▪ Sales order
•Journal ▪ Backing flow of accounting ▪ Career evaluation
Book keeping •Ledger financial data. development ▪ Inventory
▪ Activity based Quotation sourcing
and •Trial balance ▪ Organization accounting ▪ Termination
/transition Quotation ▪ Delivery
Accounting •Adjustments structure
▪ Internal evaluation
•Adjusted Trial balance ▪ a/c standards, tax Production ▪ Billing
cycles configuration
orders Purchase order
•Closing entries ▪ receipts
▪ Product cost ▪ Master data Receipts
•Financial statements ▪ General ledger,
assets accounting accounting ▪ Sales and Issue of material
•Trading (accounting and inventory ) ▪ Profitability operation
Types of Quality analysis planning Plant
•Manufacturing (accounting, inventory,
management maintenance
Business production) ▪ Profit Centre ▪ Distribution
resources objective
•Service (accounting ) ▪ Quality planning accounting
(goals) planning
Minimum
•FICO (material management) ▪ Quality control
Inventory ▪ Production breakdown
•FICO (HR) (standards ) ▪ Ordering phase planning Availability of
Integration •MM ( Production ) ▪ Quality assurance ▪ Production ▪ Capacity system

of modules •MM ( quality management ) (process) phase planning Record for

•MM (plant maintenance ) ▪ Quality ▪ Product cost optimal
▪ Finished goods
•MM (sales and distribution) improvement and delivery planning utilization 3
For purchasing Pen-drive/Google-drive Lecture visit : www.atacademy.co.in /www.amittated.com Contact number:9820568915

BY – CA AMIT TATED
CHAPTER – 2 FINANCIAL ACCOUNTING
SYSTEMS
▪ Business Reporting :

MIS Data Analytics Business XBRL ACCOUNTING ND

Criteria for information : A. TYPES : intelligence A. What it does ? TAX
A. Objectives ▪ Publisher COMPLIANCES
▪ Relevant ▪ EDA exploratory, CDA Confirmatory
▪ QDA Qualitative, QDA Quantitative ▪ Consumer (rules)
▪
▪
accurate
Time
▪ Position of firm ▪ Features
▪ User (needs)
B. ADVANCED DATA ANALAYTICS ▪ Customer
▪ Structured
▪ Data mining ▪ Capability
B. Tagging ▪ Accuracy
▪ Predictive analysis ▪ Market
▪ Search
▪ Cost
Business reporting Machine learning ▪ Compliance
▪ Aggerate-segregate

Vision /m /g/o
▪
C. Who use XBRL ▪ Ease of
▪ C. APPLICATIONS ▪ Competitor
Governance (risk
Regulators Companies operation
▪ ▪ BUSINESS, Ecommerce B. Benefits
Government Accountant
management )
▪ Banks, hospital ▪ Decision making ▪ Efforts
Data providers Analysts
▪ Trade off strategies ▪ Optimization
D. STEPS D. FEATURES
▪ Performance ▪ Communication in depth
▪ Data collection ▪ Clear definition
Data cleansing ▪ Efficiency
▪ ▪ Testable business rule
Perform data analytics ▪ Increase in revenue
▪ ▪ Multilingual
▪ Competitive advantage
▪ Strong software
support system 4