ADMS 2500 Chapter Notes -Financial Statement

• School: York University
• Department: Administrative Studies
• Course: ADMS 2500
• Professor: John Kucharczuk

Document Summary

Module 14 e th i li ti e a abou accou. When we talk about accounting we often g refer to the accounting system . Why? and what are the implications of this word? d h t e o e. How does an accounting system accounting system differ from the solar system? solar system? y m. A system is a process or a set of rules that work together for a common goal f u p. Systems can be open or closed y m environment while closed systems do not t. It interacts ith th t i with the environment by admitting accounting dumbbunnies, imparting knowledge and releasing them as accounting smartbunnies. g y: is an accounting system open or closed? p u. We often depict systems pictorially g y m (fl (flowcharts) and show: h ts) d sh: inputsp, the system as a black box , outputs s h t is in.