accounting system

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Noun1.accounting system - a bookkeeper's chronological list of related debits and credits of a businessaccounting system - a bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts
account book, book of account, ledger, leger, book - a record in which commercial accounts are recorded; "they got a subpoena to examine our books"
control account - an account that shows totals of amounts entered in a subsidiary ledger
accounting entry, ledger entry, entry - a written record of a commercial transaction
credit side - account of payments received; usually the right side of a financial statement
debit side - account of payments owed; usually the left side of a financial statement
accrual basis - a method of accounting in which each item is entered as it is earned or incurred regardless of when actual payments are received or made
cash basis - a method of accounting in which each item is entered as payments are received or made
pooling of interest - an accounting method used in the merging of companies; the balance sheets are added together item by item; this method is tax-free
audit, audited account - an inspection of the accounting procedures and records by a trained accountant or CPA
limited review, review - (accounting) a service (less exhaustive than an audit) that provides some assurance to interested parties as to the reliability of financial data
register - a book in which names and transactions are listed
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
In fact, 58% of the surveyed enterprises "fully" or "largely" agree that software was the main determinant in the adoption of their present cost accounting system. An overwhelming majority (85%) agree that their current software has increased the efficiency of cost accounting.
First, we have to go back to the basics of accounting--ie, all assets and liabilities must be priced into the accounting system. "Footnote" accounting should cease to exist.
Tunisair, the national airline of Tunisia, has chosen Mercator, a Dubai-based software solutions provider, to supply their RAPID accounting system for the airline, a report said.
Dubai: Mercator, the Dubai-based business technology provider, has been selected by Tunisair, the national airline of Tunisia, to supply their RAPID accounting system ASP (application service provisioning) hosting services to the airline.
Normally there are two areas of concern: (1) the contractor's capability to perform the contract; and (2) the adequacy of the accounting system to accumulate the type of cost information required by the contract.
Read about the new accounting system (with illustrations) at the St.
Representatives of the P & E Policy Office have been working closely with component POCs to identify changes to the program data, which likely will include changes to program funding and updated linkages to the accounting system. P & E Policy Office personnel will be responsible for ensuring that this updated information is considered as the military equipment baseline is developed.
Thus, continuing with the traditional cost accounting analogy, the Service reasoned that whether a cost is direct must be viewed in the context of a company's cost accounting system and whether a company has determined the economic feasibility of tracing the subject cost directly to a cost objective.
Two Harvard researchers are convinced that ancient Incas tracked inventory and taxes through a three-tiered accounting system using knotted bundles of threads.
has announced the release of the Intervolve Route Accounting System (RAS).
Even though you might be starting a very small business, if your business grows, you may at some point want a couple of people to be able to work on the accounting system and it would be nice to have that flexibility."

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