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Disadvantages of computerized accounting system are;Power failure, computer viruses and hackers are the inherent problems of using computerized systems.Once data been input into the system, automatically the output are obtained hence the data being input needs to be validated for accuracy and completeness, we should not forget concept of GIGO (Garbage In (Input) Garbage out (Output).Accounting system not properly set up to meet the requirement of the business due to badly programmed or inappropriate software or hardware or personnel problems can cause more havoc.Danger of computer fraud if proper level of control and security whether internal and external are not properly been instituted.
Qualities of reliable accounting information are;Understandability - It must be well understood by the parties for which it was prepared for.Relevance - The accounting information should be able to influence the important decisions in the company. It should be verifiable, neutral and truthfulReliability - The accounting information should have differing methods or ways of doing it and yet arrive at the same or similar conclusions.Comparability - The accounting information should be able to compare information from different organization or of the same organization at differing periods.Timely - It must be presented to the party in need at the time of the need.
Benefits of capital budgeting in the public sector;It facilitates and promotes sound financial managementIt promotes greater efficiency in the use of tax resourcesIt offers an effective way to replace or repair capital facilitiesIt forces communities to examine their goals and needs capabilitiesIt is an important means for promoting regional corporationIt provides important guide in the growth and development of the communityIt enhances the government or organization's opportunity to participateIt encourages public organizations to improve their administrative system
Some of the benefits of using Pochi La Biashara by safaricon include:No document are required to sign upYou can separate business funds from personal fundsPayment cannot be reversed without your approvalYou can sell airtime and earn 5% commissionNo Fuliza deductions
Benefits Kenya gained since the completion of SGR from Mombasa to Nairobi are;Increased employment opportunities to citizensImproved transport system for heavy and bulky goodsEarn government revenueReduced cost of transporting goods and passengers over long distancesreduced road accidents caused by tankers and trailersReduced damaged of roads by vehicles/reduced cost of maintaining roadsReduced port and road congestionReduced pollution by vehiclesTimely delivery of goods and services to the market.