GROUP: WATERMELONS Nowadays, businesses tend to use the computerized accounting, also in Vietnam.

According to a survey of BIT Cup (2004), EFFECT is the most widely used accounting software by medium and large companies and MISA is also the most popular one for small businesses. 1. EFFECT complicated but professionals EFFECT is now in use by more than 600 customers over 1000 locations in Vietnam Features: Includes Visual EFFECT 2.0 and Visual EFFECT SQL 3.0: customize the managerial input elements and output informatics system (accounting books and reports) Modules: Cash, Deposit, Accounting books, Expense -

Wages Contracts Tax, VAT Journals Financial reports Financial reports interpretation

Goods, Materials Sales, Purchases Liabilities Fixed-assets, Facilities

Advantages: Active and highly flexible to match different requirements of management or any specifications. Good security Useful tool for management

Disadvantages: High cost (e.g. Visual Effect 2.0 costs $1.000 to $20.000), depends on the size of businesses, the number of modules applied and the complexity in management. Software interface is not so friendly to new users Data base is complex so it requires personnel have good knowledge and skills in accounting Company: used by Green Pharmacy Company and assessed Good and Effective

2. MISA simple and friendly Objective serve: the small and medium enterprises operating in the sector: trade, services, technology, manufacturing Feature: Manage accounting data Decentralization details for each user on the entire company's accounting. Automatically integrated accounting statements, the consolidated financial statements of affiliates and subsidiaries.

Advantages: Fast and accurate: Because all data on a single data sheet, it will save a lot of time and avoid errors Convenience: Users can work, see the reports, data access ... Whether at anytime, anywhere. Effect: The accounting reports are updated continuously and immediately, to ensure making the decision as quickly as possible to help bring economic benefits to the enterprise. Cost savings: help businesses do not need to be equipped with separate server to store data so businesses only pay for what you use and effective business strategy. Disadvantages: The form of statement is irrational Power failure, computer viruses and hackers are the inherent problems of using computerized systems Moreover, there are some common Accounting software in Vietnam in the current age such as Saccounting, BIT Accounting (for administrating Inventory), DAS (Dynamic Accounting System) follow international accounting standard, Accura, Fast Acoounting