accounting system
noun
ACCOUNTINGukus[C]
aparticularway in which acompanyororganizationrecordsandreportsitsfinancialinformation:
Youraccountingsystemneedsto bedesignedtotrackcostsandmonitorallcompanytransactions.
[S]
the set ofprinciplesandmethodsused byorganizationsforrecordingandreportingfinancialinformation:
Thefinancialaccountingsystemwas historically wellestablishedbefore theconceptofcostaccountswasintroduced.
[C]
acomputerprogramor set ofcomputerequipmentandsoftwarethat is used forkeepingaccounts:
Managementcircumventedthe company'sinternalaccountingcontrolsbyoverridingthe company'scomputerizedaccountingsystem.
You canpurchaseaccountingsystemsoftwarefor as little as $100.