A SURVEY ON THE UTILIZATION OF ACCOUNTING SYSTEMS FOR IMPROVING THE PERFOMANCE OF NON-PROFIT ORGANIZATIONS
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- Recommended for : Educators
- NGN 3000
EXCERPT FROM THE STUDY
An Accounting system is then the totality of methods and procedures as well as the processes adopted by an economic entity for applying fundamental accounting concepts to its financial transactions as well as its financial reporting systems. It reflects the unique structure of an economic entity and, therefore, is said to be the model of that entity (Summers, 2019). The major objective of accounting, as an information system, is to monitor an organization‘s dimensions of economic activity. This, it does by processing data according to known rules, and delivering precise information that is useful to those who plan and manage the entity‘s activities, as well as to interested outsiders (Summers, 2019).
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