KOLEHIYO NG SUBIC

WFI Compound, Wawandue, Subic

Zambales, Philippines

Accounting is maintaining track of a company's finances the accounting

process includes summarizing, evaluating, and reporting these transactions

to oversight agencies, regulators, and tax collecting agencies (Fernando,

2022). Accounting's goal is to give financial information that may be used to

make decisions. Accounting is a system (or process) that transforms data

into meaningful information. (Tamplin,2022). In the realm of accounting, a

computer is a machine that performs calculations electronically, compares,

edits, stores, and retrieves facts and numbers (Casillas,2017). Computerized

accounting is computer’ use to perform accounting operations or processes.

Software companies use a variety of tools provided by computer technology

to solve challenges. The entire digital solution process entails acquiring and

analyzing data before applying it as a solution (White,2022). It entails using

accounting software to electronically record and analyze financial activities

(Anjali,2022). Business relies on computing technology. Because so many

company operations now involve computers and the Internet, innumerable

organizations could (almost) smoothly migrate to remote work during the

COVID-19 epidemic (Naar,2022). It improved communication with tidy,

clean, and exact copies when using a computer. Electronic mail systems help

speed up communication within and across different facilities (Ranjan,2021).

An accounting system is a collection of accounting operations that are linked

together by rules and controls. The goal of an accounting system is to keep

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track of corporate transactions, aggregate them, and provide reports for

decision makers to use in monitoring, evaluating, and improving operations

(Bragg, 2022). Accountants must embrace all new technological

advancements in order to keep their industry expertise current

(Kaushal,2020). When it comes to accounting, computerized accounting also

known as computerized bookkeeping, is a viable choice for small firms.

Instead than utilizing pen and paper or pricey software like QuickBooks,

computerized accounting uses computer systems to handle all financial

calculations (Prasanna,2022). Accounting and related professions continue

to evolve swiftly, often in unexpected ways. New accounting technology,

however, has clearly improved our ability to complete our work more

efficiently and effectively, a trend that is certain to continue quickly

(Spark,2017). Accounting is crucial in business because it helps companies

track income and costs, ensure statutory compliance, and provide

measurable financial data to investors, management, and the government

that may be used to make business decisions (Woods, 2019). A computerized

accounting system designed for at least the first and second user groups. A

host accounting system, an overlay system, a host report system, and an

overlay report system are all included in the system (Knudtzon, 2020).

Computerized accounting systems manage income and costs such as rental

or sales revenue, salaries, advertising charges, and material prices using

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software that is placed on a company's computer, network server, or

accessible remotely over the Internet. They may also be used to manage bank

accounts, make payments, and make budget plans. Some accounting

software can help you prepare tax paperwork, manage payroll, and track

project expenses, depending on the product (Schofield, 2021). A company

can address some of these contemporary issues by replacing its manual

accounting system with a more efficient and technologically advanced

computerized accounting system (CAS). Only substantial taxpayers in the

Philippines are required to join a CAS and register it with the Bureau of

Internal Revenue (BIR). Even if it isn't required, investing in a BIR CAS

approved system may be a sensible strategic decision for a smaller

organization. The most compelling incentive to go from a manual to a

accounting system using computers is the significant increase in the speed,

accuracy, and the effectiveness of your accounting processes. Because of its

automated features, the CAS can cut the time your team spends on tedious

accounting procedures in half. The system will additionally, make it simple

to find data entry errors, thus saving your firm money. A CAS is well worth

investigating simply because of increasing corporate efficiency

(Sumona,2021). Computerized accounting system simplifies accounting

procedures and provides a number of advantages to users. It’s not only

automates accounting procedures, but it also assists you in developing a

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results-oriented investing strategy (Francis,22). If you're seeking for a loan

or planning to invest in the future, you'll need digitized business data.

A computerized accounting system can help you expand your business at

any time and keep track of your overall financial health, depending on the

size and complexities of your firm (Dija,2021). With so much competition for

jobs, candidates need resumes that stand out and sum up their experience

quickly. Because most modern firms do their budgeting, payroll,

bookkeeping, and taxes online, accountants must emphasize their

computerized accounting skills to demonstrate to that they have potential

employers the requisite know-how to manage a business's finances in the

digital age (Sherman,2019). Business owners may effortlessly link clients to

their business mainstream and services using a computerized and digital

system. This increases user engagement for the company (Swil,2020).

Accounting professionals that use business intelligence (BI) benefit from

more than just greater efficiency and accuracy. They obtain the knowledge

they need to make better decisions, and they're better prepared to contribute

to success by delivering the correct data to the right people at the right time,

whether internal stakeholders or clients (Morris,2021).Getting the

accounting system properly gives you the assurance that the information

being reported is correct for your needs (Santos,2018).

Local
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Using computerized accounting systems, The department safeguards the

quality of accounting information data, assures the validity of

reimbursement of expenses, accelerates the execution of legitimate claims,

and optimizes Subic Bay Metropolitan Authority (SBMA) earnings through

an efficient billing system (Vicente,2017).

Asean

All big taxpayers in the Philippines are expected to maintain computerized

systems or CAS to document and manage their records and books of

accounts, according to BIR , which was released in January 2010. Large

taxpayers are those who are directly notified by the BIR and are defined by a

criterion consolidated in RR No. 17-2010. Corporations and businesses that

are automatically classed as major taxpayers require CAS.

CAS are information technology advances that automate accounting

procedures in a computer to aid complex accounting transaction processes.

CAS, which evolved from manual accounting transaction management, has

modernized and streamlined people's labor in data encoding. CAS improves

firm management in addition to being practical. CAS' ability to create and

maintain trustworthy and standardized records, as well as enable mobile and

high-speed reporting, has rendered accounting journals and books, as well as

Excel spreadsheets, obsolete. Its technology also boasts increased accuracy

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and efficiency, a tighter internal control system, and easy data backup and

restoration. Many businesses, such as ABM Global Solutions, are now

offering CAS and other related service (Ongoco,2018).

Global

Manual accounting had been the norm and standard for thousands of

years until the 1980s, when fast computers became widely available. In

accounting circles, computers for various functions were not only found to be

dependable, extremely accurate, and the easiest to use, but they also made it

simple to store and handle large amounts of financial data. Accounting

software today allows small firms, government agencies, and individuals to

perform virtually any accounting activity, and computerized accounting

continues to offer a variety of functions. The following is a comprehensive

overview of computerized accounting (Williams, 2022).

Related literature

CAS arose from the emergence of accounting information systems (AIS),

which is a system for recording business or economic activity movements.

An AIS is a computer system that is used to write and process business

information as well as produce reports to assist management in planning and

controlling business activities. A computerized accounting software,

however, is software that is used to handle the job of accounting information

systems and was intended to make decision-making easier. These are

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produced for a variety of reasons, including the speed with which normal

accounting information can be completed, the amount of time required,

quick data analysis, and accurate financial statements and reporting.

Increased capacity to achieve corporate and business intended goals through

improved information flow (Ahmad,2019).

Small and medium-sized businesses use computerized accounting

solutions as their accounting transaction reports may be recorded, tracked,

and generated with this major tool. It includes a number of modules,

including bookkeeping is used to track and manage payments and

collections; invoicing is used to create invoices for your customers; and the

general ledger is used to summarize all of your company's activities;

inventory module for tracking products from purchase to sale; accounts

payable for processing vendor invoices; accounts receivable for generating

customer invoices; and purchase order module for keeping track of and

maintaining all inventory orders. Some computerized billing programs have

extra modules, such as electronic payment processing, to assist you with

electronic transactions (Francis,2022).

This technology enables businesses to accurately record business

transactions and provide financial reports for management review. Manual

accounting's functions have evolved, but it will never totally disappear.

Accountants must check the accuracy and validity of the information shown
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in financial reports generated by the accounting system. Accountants must

also guarantee that all financial data adheres to Generally Accepted

Accounting Principles (GAAP) and any other regulatory agency guidelines

(Aram,2022).It Increased access to finance and energy: increased funding

for Small and Medium-sized Enterprises (SMEs), especially women and

children; energy generated from renewable sources; and the Central Bank's

licensing and supervision capacity, as a consequence, financial services will

be more secure (Washington,2018).

Framework of the Study

Accounting has benefited greatly from computer technology because they

improve accounting procedures' speed and accuracy. Accounting software

suites include tools and reports that are adapted to accountants'

requirements. Calculating your revenue and expenses, and then estimating

your earnings, is a must. All of this, however, necessitates correct accounting,

which is difficult to execute manually, especially if your company engages in

complex financial activities. So, automated accounting software has arrived

to make accounting easier for you ( Lamba, 2021). Software, according to

proponents, is faster, more accurate and protected. When comparing manual

and computerized accounting, software frequently appears to be the better

option. There's nothing wrong with keeping your accounting simple and

preferring a printed copy ( Sherman, 2021). The data in a computerized

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accounting system is frequently corrupted, leaving you unable to access the

information. Years of data that you urgently want for your company might be

destroyed (Arthur, 2021). An accountant is a business professional who

maintains track of a company's financial operations, compiles financial

statements, and delivers performance reports to management (Bragg, 2022).

Computerized accounting systems are software programs that run on a

company's computer, network server, or may be accessed remotely via the

Internet. It is used by a company to create numerous reports (Laxmi,2021).

The CAS digitally tracks the flow of money into and out of the company,

providing its leaders and other stockholders with a better understanding of

the company's overall financial situation (Hampton, 2022). With

computerized accounting, you can see the details of a specific transaction

and conduct searches on accounts receivable and payable with the press of a

button, as well as generate a variety of reports for any given date (Carrick,

2021). Although computerized accounting systems are only two generations

old, they have already transformed the accounting sector to the point that it

is difficult to find a firm that does not utilize them in some capacity

(Gartenstein, 2019). Computerized accounting systems have become so

commonplace that it is difficult to imagine modern alternatives based solely

on handwritten ledgers and old-fashioned adding machines ( Gartenstein,

2021). It comprises of a computer or software package that substitutes a

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manual system for documenting and processing financial transactions, such

as an accountant (Gilani, 2021). Accounting software uses the processing

capacity of a conventional desktop computer to handle the laborious and dull

details of accounting, allowing the business owner and accountant to

concentrate on growing the firm (Park, 2021). A computerized accounting

system, despite its numerous benefits, is not without restrictions (Rani,

2020). Computerized you'll save a lot of time by using accounting because it

allows documents like invoices, purchase orders, and payroll to be quickly

and accurately collated and printed (Ghosh, 2022). A computerized system

provides benefits such as faster and more efficient record-keeping, access to

real-time financial data, automated invoicing, and cost savings (Picincu,

2020). With a computer, it's much easier to share information around the

organization. It should be more difficult for anybody to access and modify

the data if you have adequate precautions in place (Sherman, 2021).

Computerized accounting, as the name implies, is accounting performed

with the assistance of a computer. Keeping track of a firm or client's financial

activities, it usually requires specialized accounting software and a

spreadsheet (Kamau, 2021). The following are nine reasons why you should

in your firm, you should employ a computerized accounting system:

automation, data access, accuracy, reliability, speed, security, scalable,

visuals, and cost effectiveness (Coleman, 2017). A computerized accounting

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system saves time and effort, lowers (if not eliminates) arithmetic mistakes,

and provides far more timely data than a manual method (Ghegmann, 2021).

Data inputs for computerized accounting systems must be organized in

specific formats. Transactions will not be accepted by the system with

missing dates, account numbers, or other critical information (Rai, 2017).

Accounting principles, practices, and ideas are the same for both manual and

automated accounting systems. Manual accounting employs pen and paper

to record transactions, whereas automated accounting uses computers and

the internet to input transactions electronically (Surbhi, 2018).

Computerized accounting easily and cost-effectively all business procedures

are simplified, integrated, and streamlined (Tamplin, 2022). The advantages

of computers are utilized in computerized accounting to streamline

accounting in an accurate and efficient manner. It is used by both large and

small businesses all over the world (Thomas, 2021).It may be equally

frightening for you to investigate a computerized accounting system (CAS)

for your own company. However, there are several advantages to using a BIR

CAS accredited system, especially if you want to future-proof your business

(Lawrence, 2022). Computerized accounting system components are

software packages placed on a corporate PC, a network server, or a

workstation, or accessed remotely via the Internet (Vedantu, 2022). Small

business owners who fail to implement computerized accounting systems

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may have a negative impact on their company's sustainability and financial

performance (Bullock, 2021). Small company owners benefit from

accounting software because it allows them to handle accounts receivable

and payable, acquire a clear idea of their profitability, and prepare for tax

season (Freedman, 2022). Accountants are now using generalized

accounting software to perform all accounting tasks rather than the

traditional methods of accounting (Kumar, 2020). The accountant should get

more familiar with accounting software and generalized enterprise resource

planning (ERP) to guarantee that the company's accounts are reported in

line with appropriate accounting standards or International Financial

Reporting Standards (Draijer, 2020). Computerized accounting employs

software programs derived from manual accounting systems. (Vitez, 2022).

Companies acquire, store, manage, process, retrieve, and report financial

data using an accounting information system (AIS) (Fontinelle, 2022). 

 
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 Research Design

This research used quantitative kind of study is the methodical practical

inquiry of recognizable occurrences by using survey or questionnaires. It is

methodical investigation of events using measurable data and statistical,

mathematical, or computer approaches is defined as quantitative research.

Quantitative research collects data from existing and future consumers

through sampling methods and the dissemination of online surveys, polls,

questionnaires, and other tools, with the findings being represented

quantitatively (Fleetwood, 2021). Quantitative research methods aim to get

numerical data from a small number of people and then generalize the

results to a wider group of people in order to provide an explanation for

something. When researchers need objective, conclusive conclusions, they

usually turn to quantitative research (Bhatia,2019). To see whether there are

any trends or outliers in your data, visualize it, you can use graphs, scatter

plots, and frequency tables (Bhandari,2021). Analyzing data that is based on

numbers or quantitative data analysis is the study of data that can be

"translated" into numbers without losing meaning (Jansen, 2022). The

researcher in this study employed a correlational research strategy to

evaluate correlations between variables without controlling or modifying any

of them (Bhandari,2022).
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Gap
 

Computer technology streamlines the accounting process while efficiently

maintaining financial data. Accounting technology, while its benefits has

limitations and drawbacks that may have a negative impact on business. If

you are aware of your concerns, you can address them before they become

major issues. We discovered gaps between the related review literature that

they concentrated more on the benefits of computerized accounting and did

not include in their study regarding its negatives, which is required to discuss

about this topic, based on the linked literature that the researchers/we

studied. We wish to look into the influence computerized accounting systems

on firms in Subic, Zambales in particular. Because our rrl focuses on small

and medium firms' implementation of a computerized accounting

information system in Mogadishu, Somalia: The Balance Scorecard

Perspectives.

Scope and Delimitation 

 

       For the objectives of this research, the effectiveness of computerized

accounting system on businesses will in scope be limited in Subic Zambales

to examine how effective computerized accounting systems and to know its

impact on business field.

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      The researcher encountered some problems which stood as limitations to

this study. Such problems include a computerized accounting systems

companies rely on the usage of computers and digital devices for operations,

computer technology has now become a significant aspect of company

innovation and management, and the requirement of every business,

etc.     Quantitative method used to survey the different businesses in Subic

Zambales and by collecting data from the sample it helps to organize and

summarize the data using Descriptive statistics.

Significance of the Study

 
This research shows how computerized accounting systems work and how

they affect enterprises. Management, consultants, professionals, students,

shareholders, investors, institutes of higher learning, training managers,

economists, the government, and so on will benefit from the knowledge

gathered. The study will also be significant to the employees in case they’re

planning to build a business in the future and for those owners of the

business this will serve you as a guide. And it will also serve as a resource

base for other scholars and researchers interested in conducting additional

research in this sector.

 
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