Question

What kinds of things do you need when setting up the company? How do you gather the information you need? When should a company switch to computerized accounting?

Answer 1

Answer)

Things that one need to know when seeing up the company:

1)The nature of business it should operate.

2)The markets to persuade.

3)The competition in the industry.

4)The customer needs and preference.

5)The supplier bargaining power.

6) Existing channels of distribution in the market.

Market analysis and environmental scanning for gathering all the information that we need while setting up the business.

IIn this computer era it is better for an company to switch to computerized accounting as soon as possible.In case of establishing a new business the company should switch to computerised accounting immediately after setting of business as it integrates all the department and also maintains high accuracy and makes reporting easy.