In order to do this an accounting system must be designed A system design

In order to do this an accounting system must be

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means of recording, reporting, summarizing, and interpreting economic data. In order to do this, an accounting system must be designed. A system design serves the needs of users of accounting information. Once a system has been designed, reports can be issued and decisions based upon these reports are made for various departments. Since accounting is used by everyone in one form or another, a good understanding of accounting principles is beneficial to all. Page 11
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Financial Accounting IV References 1. Investopedia. (2019). Understanding the Cash Flow Statement . [online] Available at: [Accessed 28 Aug. 2019] 2. AccountingCoach.com. (2019). Financial Accounting | Explanation | AccountingCoach . [online] Available at: [Accessed 26 Aug. 2019]. 3. Smallbusiness.chron.com. (2019). What Are the Two Methods Used in Reporting Net Cash Flow From Operating Activities? . [online] Available at: - activities-43545.html [Accessed 28 Aug. 2019]. Page 12
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