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8 marksControl Systems and Technology in Accounting

CAPE Accounting Unit 1 · 2021 · Paper 2 · Question 1(c)(ii)

Velax Merchandising Corporation (VM Corp.) is considering moving from a manual accounting system to an integrated computerized accounting system.

Discuss the impact of the introduction of an integrated computerized accounting system on EACH of the following processes: • Recording of information • Access to records

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Other parts of this question

  1. 1(a)(i)List FOUR main users of financial statements.[4 marks]
  2. 1(a)(ii)State ONE purpose of financial statements for EACH of the users listed in (a)(i).[4 marks]
  3. 1(b)Differentiate between the terms 'accrual basis accounting' and 'cash basis accounting'.[4 marks]
  4. 1(c)(i)Outline ONE benefit of a computerized accounting system to the process of independent internal verification.[2 marks]
  5. 1(d)Prepare journal entries (without narratives) to record the transactions in 2019.[13 marks]

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