Explain 'Generic' and 'Customised' accounting software.

OR

'A business data needs to be guarded from its competitors ' . Explain which features of Computerised Accounting System help a business to maintain its secrecy.

The explanation should include: Generic accounting software: • Suitable for small and conventional businesses where volume of accounting transaction is less. • Cost of installation is generally low and users are limited in number. • Secrecy is low and it is prone to data frauds. • Offers little scope for linking to other information systems. Customised Accounting Software: • It meets the special requirement of the user, suitable for large and medium scale businesses. • Can be linked to other information systems. • Cost of installation and maintenance is relatively high. • It includes modification and addition to the contents of software, provision for specified number of users and their authentication. Q. (b) ‘A business data needs to ……………………. Ans. Features of CAS to help business maintain secrecy: 1. Password Security 2. Data audit 3. Data Vault (With appropriate explanation)