Application of Computers in Accounting — Account STD 11 Commerce — Question

"A computer is a data processor that can perform substantial computations, including numerous arithmetic and logic operations, without intervention of human operator during the run.” -International Standards Organisation
We can also define a computer as an electronic digital machine that acts as per the set of instructions (called program or software) and is used for processing raw data into meaningful information.
Features of computer system:
Speed: It can perform at a much higher speed than human beings. Normally, human beings take into account a second or a minute as the unit of time. But computers have such a fast operating capability that the relevant unit of time is a fraction of a second. Modern computers are capable of performing millions of calculations per second (MCPS).
Accuracy: It performs jobs with a high degree of accuracy. The computer cannot make mistakes if proper instructions are given. Errors in Computer Based Information System (CBIS) occur because of poor software programming. In other words, they are caused by the persons handling software.
Reliability: Computers are immune to tiredness, boredom or fatigue. Therefore, they are more reliable than human beings. However, a computer can fail or stop responding due to internal and external reasons. Any failure in highly automated industry is not acceptable. Therefore, companies in such situations provide for back-up facility to swiftly takeover operations without loss of time.
Versatility: It refers to the ability of computers to perform a variety of tasks, simple as well as complex. A general purpose computer is capable of being used in any area of application like business, industry, scientific, technological, statistical and communications. In an organisation, it can perform several types of jobs because of its versatility.
Storage and Retrieval: The computer systems, besides having instant access to data, have huge capacity to store such data in a very small physical space and in a safe way. A normal computer hard disk can store a bulk of data without occupying any physical space.