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Question - Software packages in the financial and accounting workplace are used to transfer data from transactions such as sales and purchases, receipts from customer and payments to supplier accounts. These transfers of data will be used to update records such as inventory, asset records, customer accounts and the like. From these records financial reports and financial statements will be prepared. Software used in the financial sector include Excel spreadsheets with advanced functions and MYOB integrated accounting software.
Conduct some research on computerised accounting systems and answer the following questions:
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