Features of CAS
- Simple and Integrated
- Accuracy
- Speed
- Scalability
- Reliability
Components of CAS
- Procedure
- Data
- Users/People/Live-ware
- Hardware
- Software
Grouping of Accounts
The process of grouping the ledger accounts based on some similar nature under an appropriate head is known as Grouping of Accounts.
Codification of Accounts
Codification refers to allotting code numbers to accounts in a hierarchical structure. Code may be alphabet or number allotted to a particular account.
Types of Codes
Codes can be classified into
- Sequential Codes
- Block Codes
- Mnemonic Codes
Merits of CAS
- Timely generation of reports
- Saves time and money
- Confidentiality of data can be maintained
- Transparency and reliability
- Accurate and updated information