An accounting system contains a set of accounting processes with integrated procedures and controls. The intent of this is to record business transactions, summarize those transactions into an aggregated form, and create reports that can be used by decision makers to monitor, analyze, and improve operations. Manual systems consist of journals and ledgers on paper. Computerized accounting systems consist of accounting software, computer files, computers, and related peripheral equipment such as printers. Some common types of accounting systems are: double-entry accounting system, single-entry accounting system, computerized accounting system, and manual accounting system. Read this informative presentation to understand accounting in detail.

Manju VP

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