Database vs Masterfile, accounting homework help

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Business Finance

Description

For years, companies used master files to store data. Databases are now being used in their place. Why did this transformation take place? What are the advantages and disadvantages of using databases rather than files? Why is it important for an accountant to understand how a database works? Identify at least three functions in which an accountant would use a database.

Please make 1-2 paragraphs.

Please site sources within the paragraphs.

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Explanation & Answer

Attached.

Running Head: DATABASE VS MASTERFILES

Database vs Masterfile
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DATABASE VS MASTERFILES

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Before the innovation of databases, master files were used to store information.
Accountants would store the information in different files to make it easy to retrieve the
information. This transformation took place whe...


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