Write short notes on following :
(i) MIS
(ii) AIS
(iii) Accounting Report
(iv) Exception Report

**OR**

“Computerized accounting system is better than Manual accounting system.” Explain it with help of following points :
(i) Speed
(ii) Cost
(iii) Back-up
(iv) Security
(v) Classi

Question

Write short notes on following :
(i) MIS
(ii) AIS
(iii) Accounting Report
(iv) Exception Report

**OR**

“Computerized accounting system is better than Manual accounting system.” Explain it with help of following points :
(i) Speed
(ii) Cost
(iii) Back-up
(iv) Security
(v) Classification
(vi) Adjustment entry

Accepted Answer

>

> [!TLDR]
> Alt 1 explains MIS, AIS, Accounting Report and Exception Report; Alt 2 compares computerised vs manual accounting on speed, cost, back-up, security, classification and adjustment entries, showing the computerised system is generally superior on speed, back-up and classification.
>
> ---
>
> **ALTERNATIVE 1 — Short notes**
>
> **(i) MIS (Management Information System):** An organised system that collects, processes, stores and supplies relevant information to managers at different levels so they can plan, control and take decisions. It integrates data from various functions (accounting, sales, production) into useful reports for management.
>
> **(ii) AIS (Accounting Information System):** A sub-system of the MIS that specifically records and processes financial/accounting transactions and generates accounting information — such as ledgers, trial balance and financial statements — for internal and external users.
>
> **(iii) Accounting Report:** A report prepared from accounting data that presents financial information in a meaningful form — for example, ledger account summaries, trial balance, debtors/creditors statements, and the Profit & Loss Account and Balance Sheet. It helps users understand the financial results and position.
>
> **(iv) Exception Report:** A report that lists only the **exceptional or abnormal items** that fall outside pre-set limits — e.g., overdue customer accounts, stock below the re-order level, or expenses exceeding budget. By showing only exceptions, it lets management focus attention where action is needed (management by exception).
>
> ---
>
> **ALTERNATIVE 2 — Computerised vs Manual Accounting**
>
> 'Computerised accounting is better than manual accounting' — explained on the given points:
>
> | Basis | Computerised Accounting | Manual Accounting |
> |---|---|---|
> | **(i) Speed** | Very fast — recording, posting and reports are processed instantly. | Slow — every entry, posting and total is done by hand. |
> | **(ii)

Trading and Profit & Loss Account of [Business Name] for the year ended [Date]
Particulars	Amount (₹)	Particulars
To Opening Stock	xxx	By Sales
To Purchases	xxx	Less: Sales Returns
Less: Purchase Returns	(xxx)	By Closing Stock
To Direct Expenses (Wages, Carriage, etc.)	xxx
To Gross Profit c/d	xxx
Total	xxx	Total

To Salaries	xxx	By Gross Profit b/d
To Rent & Taxes	xxx	By Commission Received
To Depreciation	xxx	By Discount Received
To Interest on Loan	xxx	By Miscellaneous Income
To Net Profit (transferred to Capital A/c)	xxx
Total	xxx	Total

Basis	Computerised Accounting	Manual Accounting
(i) Speed	Very fast — recording, posting and reports are processed instantly.	Slow — every entry, posting and total is done by hand.
(ii) Cost	High initial/set-up cost (hardware, software, training) but low running cost per transaction.	Low set-up cost, but high recurring labour cost as volume grows.
(iii) Back-up	Easy and quick electronic back-up of data on disks/cloud.	Difficult — physical books are bulky and hard to duplicate/store safely.
(iv) Security	Protected by passwords and access rights (but with a risk of hacking/virus/data loss).	Physical security of books; risk of loss by fire, theft or damage.

Q.Write short notes on following :

Concept understanding — Meaning Of Financial Statements

Everyday Intuition

Precise Meaning (as per NCERT Class 12 Accountancy)

Why It Matters

Accounting Treatment: How They Are Prepared

Format: Trading and Profit & Loss Account (as per NCERT)

Part (a)

Q.Write short notes on following :

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