Question

What are the featurea of accounting

Answer 1

Answer:

HOPE THIS WILL HELP YOU.....

Explanation:

At a minimum, a modern accounting system should automate and streamline core financial management functions such as:

Accounts receivable (order to cash)

Accounts receivable (order to cash)Accounts payable (procure to payment)

Accounts receivable (order to cash)Accounts payable (procure to payment)Financial close

Accounts receivable (order to cash)Accounts payable (procure to payment)Financial closeTime and expense capture

Accounts receivable (order to cash)Accounts payable (procure to payment)Financial closeTime and expense captureFund accounting

Accounts receivable (order to cash)Accounts payable (procure to payment)Financial closeTime and expense captureFund accountingProject accounting

Accounts receivable (order to cash)Accounts payable (procure to payment)Financial closeTime and expense captureFund accountingProject accountingRevenue recognition and management

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Answer 2

Answer:

Two main feature of accounting:

Explanation:

a. It records only those transaction that are of financial characters. for example quality of the manpower employed by the enterprise is not recorded because it cannot be measured in money terms.

b. It records transactions by expressing them in term of money. Recording the transaction in terms of money makes the information more meaningful. for example, if a business has 10 machines, 20 tons of raw material, 2 buildings it is not possible to add them together and record in the books of accounts. It is possible to record them only when expressed in terms of money.