Information technology Statement No. 2 - Good Accounting Software
Article Abstract:
The full text of the Institute of Chartered Accountants of England and Wales accounting standard with regard to accounting software used is provided. The Institute warns accountants to critically review user needs prior to acquiring accounting software packages, and reminds accountants that after such software has been purchased adequate training and support programs are essential to ensure the proper application of the software. The standard also states that good accounting software should: (1) perform the accounting functions for which it was designed, (2) provide for substantiation of the accounting procedures performed using the software, (3) be easy to learn and use, (4) not require more resources for use than the company has available, and (5) allow for some minor revisions to reflect users' individual needs.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1986
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ED 41: accounting for research and development
Article Abstract:
Exposure Draft (ED) 41, 'Accounting for Research and Development', has been issued to account for business and legal changes that have occurred since SSAP 13, 'Accounting for Research and Development' was issued in 1977. The fundamental concepts of accounting for research expenditure, the types of research and development expenditures, and the accounting treatment of research and development are discussed. Exceptions, disclosure rules, and the different legal requirements in Great Britain and Ireland are discussed.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1987
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