Asked by Kanidra Stringer on May 09, 2024
Verified
An accounting system design consists of internal controls and information processing methods.
Accounting System Design
The process of defining the structure, components, and processes of an accounting system tailored to meet specific financial reporting and management needs.
Internal Controls
Systems and procedures implemented by a company to ensure the integrity of financial and accounting information.
Information Processing
The collection, manipulation, storage, retrieval, and classification of information.
- Discern the components and intervals of an accounting system’s lifecycle, incorporating aspects of system analysis, design, and feedback.
- Grasp the concept of internal controls and their significance in accounting system design.
Verified Answer
HC
Heather CuretonMay 13, 2024
Final Answer :
True
Explanation :
An accounting system design includes both internal controls and information processing methods to ensure accuracy and reliability of financial information.
Learning Objectives
- Discern the components and intervals of an accounting system’s lifecycle, incorporating aspects of system analysis, design, and feedback.
- Grasp the concept of internal controls and their significance in accounting system design.