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Why is maintaining a reliable accurate and timely accounting system important?
Wiki User
∙ 12y ago
without good records it is impossible to determined the financial condition or profitability of a business and also to identify all your business assets , liabilities, income and expenses
Wiki User
∙ 12y ago
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What are the features of accounting?
tally is an accounting package, and it is more accurate and reliable
Why are internal controls important?
Internal controls are procedures set up to protect assets, ensure that accounting reports are reliable, promote efficiency, and encourage adherence to company policies. Internal controls are crucial if accounting reports are to provide relevant and reliable information.
What are the qualities of good internal control system?
In basic they are (in no particular order). 1 - Most important, is the safeguard of assets. 2 - All employees must be encouraged to follow company policy and work towards the company's goals. 3- The promotion of operational efficiency. 4- A company must ensure accurate and reliable accounting systems and records 5- Maintaining complience to the legal requirements of (a) its counrty of registration (b) of countries of operation.
Why is it important for accounting firm to maintain their independence in fact and in appearance?
Because the accounting firm has to keep their professionalism in their work and image as the most highly trusted and reliable entity to gain 100% trust in the economy. This is important and must be seen independence as well.
What is the best type of accounting software?
QuickBooks Pro is currently the worlds leading accounting software and is rated one of the best and most reliable.
What are the features of accounting?
tally is an accounting package, and it is more accurate and reliable
What is the role of accounting in the information age?
Accounting has a great value in information age. It is a system that identifies, records and deliver financial information that is relevant, reliable and comparable in order to help users to make better and accurate decisions.
Why are controls important?
Internal controls are procedures set up to protect assets, ensure that accounting reports are reliable, promote efficiency, and encourage adherence to company policies. Internal controls are crucial if accounting reports are to provide relevant and reliable information.
Where can one find information on real estate accounting?
A website called 'George E Dube' explains what is real estate accounting. All the information published on the article is reliable and accurate so don't worry about being lied to.
Why are internal controls important?
Internal controls are procedures set up to protect assets, ensure that accounting reports are reliable, promote efficiency, and encourage adherence to company policies. Internal controls are crucial if accounting reports are to provide relevant and reliable information.
Why are accuracy and precision important in making measurment?
because they are both a reliable measurement and is both accurate and precise
What are the qualities of good internal control system?
In basic they are (in no particular order). 1 - Most important, is the safeguard of assets. 2 - All employees must be encouraged to follow company policy and work towards the company's goals. 3- The promotion of operational efficiency. 4- A company must ensure accurate and reliable accounting systems and records 5- Maintaining complience to the legal requirements of (a) its counrty of registration (b) of countries of operation.
Why are both accuracy and precision important making a measurement?
because they are both a reliable measurement and is both accurate and precise
Why are both accuracy and precision important in making a measurement?
because they are both a reliable measurement and is both accurate and precise
Why is it important for accounting firm to maintain their independence in fact and in appearance?
Because the accounting firm has to keep their professionalism in their work and image as the most highly trusted and reliable entity to gain 100% trust in the economy. This is important and must be seen independence as well.
Why does data have to be reliable and accurate?
most of the time you would want it to be accurate and reliable but sometimes it doesn't it.depends on what the subject is
Is accounting software 100% reliable?
Peachtree accounting software is know for its reliability,and there is a guarantee offered.
