What factors should be considered in the design of an accounting system?
Posted by Ripon Abu Hasnat on Thursday, May 29, 2014 | 0 comments
The main factors to be considered in the
design of an accounting system are:
1.
What the
business does
2.
The type of
product or service given
3.
The
location—whether the business is all in one place or has branches
4.
Whether the
business is a sole trader, partnership, club or company
5.
The
information required by the owner or owners
6.
The
information required by outsiders (for example, banks, accountants, auditors)
7.
The type of
information processing (manual or computer)
8.
The effect
of the law (for example taxation and the Corporations Law).
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