Define and describe an accounting system.


Define and describe an accounting system.


Accountancy is considered as a professional field, which provides the methods or technologies which should be used by the accountants for accounting business transactions effectively. It helps in making accounting records more reliable and trustworthy.

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An accounting system is the one which helps the company in maintaining an effectual record of all the operating and financial transactions of the...

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Accounting Cycle: Definition, Steps & Process


Chapter 1 / Lesson 23

Learn about the accounting cycle. Understand what the accounting cycle is, learn the purpose of the accounting cycle, and identify the accounting cycle steps.

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