Hi There, just wondering if my answer to the below question is correct before I submit? Thanks.

Most organisations have a range of policies and procedures relating to the operation of their accounting systems. Describe how you would apply policies and procedures to operating a computerised accounting system.

The Australian Accounting Standards are governed by the Australian Accounting Standards Board (AASB) and define the required accounting practices/principles. These requirements affect how an organisation prepares and presents its financial statements and thus, the policies and procedures they will have in place relating to their accounting systems. These will include any accounting procedures, measurement practices, and processes for disclosing financial information.

Each employee should be trained in operating a computerised accounting system and aware of where to locate the appropriate policies and procedures to ensure they are applying the principles set out in these documents and meeting the organisations requirements.

Policies and procedures in relation to computerised accounting systems may cover:

System security procedures - To ensure staff are adhering to security measures to protect the sensitive financial data that is recorded.

File Accessibility - To ensure staff are only opening files that they have permission to access.

Procedures for entering financial Data - To maintain consistency in recording and reporting financial events and transactions and ensure that the processes to record and report financial data satisfy the legislative and organisational requirements.

Electronic recording - What electronic financial documents need to be kept/recorded.

Storing data to security requirements and for appropriate future access - How electronic data needs to be filed within a computerised system so that it is secure and only able to be accessed by approved staff members.

OHS policies - To ensure Occupational Health and Safety is being observed and adhered to.