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Advantages of flowcharts to record accounting control system
- After a little experience they can be prepared quickly.
- As the information is presented in a standard form, they are fairly easy to follow and to review
- They generally ensure that the system is recorded in its entirety, as all document flows have to be traced form beginning to end. Any ‘loose ends’ will be apparent form cursory examination.
- They eliminated the need for extensive narrative and can be of considerable help in highlighting the salient points of control and any deficiencies in the system.
- Makes easy to understand the system
Disadvantage of flowcharts to record accounting control system
- They are most suitable for describing standard systems. Procedures for dealing with unusual transactions will normally have to be corrected using narrative notes.
- Major amendment is difficult without redrawing.
- Time can sometimes be wasted by charting areas that are of no significances.