SYSTEM

MANILA, Philippines The Liberal Party said Tuesday that social media is being used to bring
fake news, essentially propaganda, into mainstream media.

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"We recognize this pattern of putting on the defensive those with opposing views, by initially having
social media trolls spread half truths so that these fake news items will be picked up by traditional media
so that they become 'legitimate' news," the party said in a statement on Tuesday.

The statement came after photos depicting Senators Francis Pangilinan and Risa Hontiveros supposedly
holding hands when they and other minority senators visited Sen. Leila de Lima in her detention cell in
Camp Crame earlier this month spread on social media.

Actress Sharon Cuneta, Pangilinan's wife, addressed the implied affair in a statement on Monday, saying
"there is no truth to the rumors going around."

Cuneta, in a Facebook post, said the photo had been edited to spark the rumors.

READ: Sharon rules out third party rumors amid showbiz hiatus
The LP also noted how old issues surrounding party president Pangilinan's Priority Development
Assistance Fund transactions with local government units are being revived, such as a news item citing a
Commission on Audit report released in 2013 that was made to appear new.

"Check out the news stories from that period 'Jinggoy Estrada allegedly involves Senator Pangilinan in
PDAF,' 'Sharon Cuneta defends Kiko Pangilinan on PDAF,' etc. because some of them have been and
will be re-released as if they were new," the Liberal Party, whose numbers have been reduced since the
2016 elections, said.

'Fake news meant to discredit opposition'

The party said that the sudden release of false information about Pangilinan came after he

system is a set of components or units that has a relationship with one another. In Accounting, there are
different types of components and accounts to manipulate. Thus, a system that is used to handle accounts
such as assets, liabilities, expenses, revenue and other financial activities of a business is through
Accounting System.

Accounting System in History

The earliest known accounting records were found in the Middle East and date back over 7,000
years!

Accounting System help early rulers, businesses and individuals to be able to keep track of their
income and expenditures. It also helps them to determine whether a particular activity generates income
rather than losses.

In the late 1400s the well-known Italian friar Luca Pacioli earned his accreditation as the Father
of Accounting. He stated the Golden Rule in Accounting: Do not go to bed until the debits equal the
credits. He is the one who introduced the double-entry system to the Venetian Merchants during the
Italian Renaissance.
Modern Accounting System
In 1880s, a machine was invented by Herman Hollerith. This machine is called a Tabulating machine
where it is used to punch cards to add numbers to a card that could use to determine the total.

Today, technological advances seems to improve more. With this improvement and advancement,
people developed an accounting system that will help entities to save more time rather than doing it
manually.

ACCOUNTING SYSTEM

An Accounting System will help the entity to keep track of the receipts, disbursements and all
financial transactions that occurred within a period. This system will help the entity to produce
comprehensive statistical reports that will help managers, especially the top-level managers in the
decision-making process of an entity.

Manual Accounting System VS Computerized Accounting System

Manual

A Manual Accounting System is basically recording financial transactions by hand. This system
is well-known from the past since advance technologies back then is not yet introduced to the public.
However, this system is still present and is used by small business since small business has lesser
financial entries to make.

Advantages:

Can be just as accurate as Computerized Accounting System. (Explanation: Kung marunong or

alam ng taong incharge yung ginagawa niya, tama. Wag lang mag assign ng tatanga tanga lol)
 Can always open up the book and gain instant access to your records. (Explanation: Since sa
literal na libro mo lang kinikeep yung records mo and then may gusto kang icheck na specific
transaction,bubuksan mo lang yung record book mo to check on that transaction)
No delay due to power or Internet outages ( Explanation: Another advantage to ng manual,
especially kapag biglang nagkaroon ng power interruption, no sweat ka since you can look at your
record book w/o using electricity gurl)
No risks of sensitive information being hacked online. (Explanation:one of the advantages of
using Manual Accounting System is that you can secure your records without spilling classified
information)

Disadvantages

Tiresome and tedious (Explanation: Since ang manual is by hand, shempre nakakapagod din
magsulat ng magsulat and gumawa ng financial statements also, once na magkamali ka, uulit
nanaman lahat.Also kapag pagod ka mataas ang chance na ang bookkeeper e magkamali)
Records may only be available in paper format, which can cause issues if they are lost, stolen
or damaged. ( Explanation: Another disadvantage ng manual is may chance na mawala, manakaw or
masira yung records mo since you keep this or record it in a paper. So what you can do is always have
a photocopy, ang kaso magiging disadvantage din yun since time consuming especially pag nag adjust
or may nagbago sa isang transaction)
Time Consuming (Explanation: Nakakasayang din ng time ang manual since by hand nga. Kaso may
instances na may mga oras kang nasasayang wherein pwede mong gamitin yun for other things na
pwede kang mag grow or mas magimprove)

COMPUTERIZED

A Computerized Accounting System is widely used especially by multinational

companies and corporations that deals with complex financial transactions.
 Computerized Accounting System is keeping financial records with the aid of a
computer and a software package. This system allows you to setup income and
expense accounts.

Advantages:

- Faster Processing (Explanation : Since programmed na yung software, all you have to do
is put the entries then the computer will do the work and this will save you more time)
- Reliability ( Explanation: Since computer ang gamit and immune ang computer sa pagod,
boredom ganyan, makakapag perform ng ulit ulit na task yung computer and this will result
to an outcome na mas reliable.)
- Easy Availability of Information (Explanation: Tulad ng Manual, may easy access din
sa computerized and pupwede to maishare sa mga users na nangangailangan ng information
which is called data sharing.)
- Up-to-date Information (Explanation: Since kapag nag enter ka ng info or data using this
system, it will automatically update itself and nakaprogram na nga)
- Automated Document Production (Explanation: Sa Computerized System, automatic na
makakapag produce ng financial statements easily. Tulad nung sa SAP Business One natin.)

Disadvantages

- Heavy Cost of Installation (Explanation: Shempre kailangan iupdate yung software from
time to time and also kelangan din iupgrade para makapag provide ng reliable reports)
- Cost of Training ( Explanation: Since nag uupdate and nag uupgrade nga tayo ng
software, shempre may mga bago jan. Another cost nanaman yung sa company para itrain
yung mga staff na gumagamit sa software nay un)
- System Failure (Explanation: Ang isa sa mga disadvanatages ng Computerize System is
may tendency na mag crash ito and mawala yung mga informations especially kapag walang
backup)
- Breaches to security (Explanation: Since computerized, may possibility na mahack yung
accounting system na ginagamit ng isa company so kelangan talaga ng strong securities.)
Sources :
http://www.yourarticlelibrary.com/accounting/computerized-accounting/computerized-
accounting-system-advantages-and-disadvantages/63264/

http://study.com/academy/lesson/manual-accounting-system-definition-advantages-
disadvantages.html

http://study.com/academy/lesson/what-is-a-computerized-accounting-system-types-advantages-
disadvantages.html

https://debitoor.com/dictionary/accounting-system