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Accounting Definition–noun | 1. | the theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc. (distinguished from bookkeeping ). | | 2. | a detailed report of the financial state or transactions of a person or entity: an accounting of the estate. | | 3. | the rendering or submission of such a report. | | From Dictionary
System Definition–noun | 1. | an assemblage or combination of things or parts fo
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rming a complex or unitary whole: a mountain system; a railroad system. | | 2. | any assemblage or set of correlated members: a system of currency; a system of shorthand characters. | | 3. | an ordered and comprehensive assemblage of facts, principles, doctrines, or the like in a particular field of knowledge or thought: a system of philosophy. | | 4. | a coordinated body of methods or a scheme or plan of procedure; organizational scheme: a system of government. | | 5. | any formulated, regular, or special method or plan of procedure: a system of marking, numbering, or measuring; a winning system at bridge. | | 6. | due method or orderly manner of arrangement or procedure: There is no system in his work. | | 7. | the world or universe. | | 8. | Astronomy. | a. | a number of heavenly bodies associated and acting together according to certain natural laws: the solar system. | | b. | a hypothesis or theory of the disposition and arrangements of the heavenly bodies by which their phenomena, motions, changes, etc., are explained: the Ptolemaic system; the Copernican system. | | | 9. | Biology. | a. | an assemblage of organs or related tissues concerned with the same function: the nervous system; the digestive system. | | b. | the entire human or animal body considered as a functioning unit: an ingredient toxic to the system. | | | 10. | one's psychological makeup, esp. with reference to desires or preoccupations: to get something out of one's system. | | 11. | a method or scheme of classification: the Linnean system of plants. | | 12. | (sometimes initial capital letter )
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span>the prevailing structure or organization of society, business, or politics or of society in general; establishment (usually prec. by the): to work within the system instead of trying to change it. | | 13. | Geology. a major division of rocks comprising sedimentary deposits and igneous masses formed during a single geologic period. | | 14. | Physical Chemistry. a combination of two or more phases, as a binary system, each of which consists of one or more substances, that is attaining or is in equilibrium. | | 15. | Computers. a working combination of hardware, software, and data communications devices. | | 16. | Checkers. either of the two groups of 16 playing squares on four alternate columns. | | From Dictionary
Related topics from BritannicaFirst Bank System, Inc. American bank holding company. Its major subsidiary is the First National Bank of Minneapolis. Headquarters for both are in Minneapolis, Minn.accounting Accounting systems are designed mainly to provide information that managers and outsiders can use in decision making. They also serve other purposes: to produce operating documents, to protect the ...
accounting Although published financial statements are the most widely visible products of business accounting systems and the ones with which the public is most concerned, they represent only a small portion ...
accounting A generally accepted international accounting standard, or a common business language across national borders, serves the global economy in two distinct ways. First, it reduces the costs of doing ...
information system The effectiveness of an information system's controls is evaluated through an information systems audit. It is a part of a more general financial audit that verifies an organization's accounting ...
price system The foregoing discussion has been confined to the price system as it exists in capitalist economies. The communist countries have prices, but not autonomous price systems; in those countries the ...
astronomy The solar system took shape 4.57 billion years ago, when it condensed within a large cloud of gas and dust. Gravitational attraction holds the planets in their elliptical orbits around the Sun. In ...
mathematics Unlike the Egyptians, the mathematicians of the Old Babylonian period went far beyond the immediate challenges of their official accounting duties. For example, they introduced a versatile numeral ...
accounting The primary output of the financial accounting system is the annual financial statement. The three most common components of a financial statement are the balance sheet, the income statement, and the ...
auditing Historians of accounting have noted biblical references to common auditing practices, such as dual custody of assets and segregation of duties, among others. In addition, there is evidence that the ...
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