In this literature review, there will be analysis done to identify the advantages and the potential limitations of the processes. In this analysis, there will be classification of the three kinds of software and the gain the accounting management stakeholders can gain from implementation of the processes. The significant benefits and the critical aspect of these systems are presented from secondary research viewpoint. The second main category of the literature review will discuss the challenges for accounting personnel.
This is used for the creation of the word documents. The textual data is used for the processes of editing, storage and the printing of the processes. The accountants are used for the purpose of the word processing software in the communication information’s. The word processing software is used for the preparation of the reports and financial statements to name a few.
There is a spreadsheet that they use to form the interactive computer application that is used for the analysis of the data and organization of data (Lander et al., 2013; Pearlson et al., 2016). They are developed as computerized simulation of paper. Excel and SPSS are the two kinds of spreadsheets that are used. They are used for virtual task completion that requires computations. The company is used for preparation of the financial statement that could be exported into the spreadsheet that is presented graphically to the board of directors. Graphic software is used in conjunction with the word processing software. They are used for the creation of photos, graphs and charts from the data that is inputted to ensure there is a cohesive understanding of the topic. They are used in the financial reporting processes.
These are the primary kinds of accounting systems. They are used in the paper based ledger style of accounting and management. There are a number of current efforts that are undertaken to ensure that the paper records are replaced into computer records. It is a labour intensive process that is used for the human processing systems. These manual systems are found to rely in human processing. They are prone to a number of possible errors.