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Financial accounting systems

Financial accounting systems

Please post a 150-300 word response to the following question:

Why is it important that financial accounting systems report performance fairly and factually?

 

 

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Financial accounting systems

One of the main duties of financial accounting systems is the maintenance of a firm’s financial records. For any given firm, its prosperity largely depends on the financial situation of the organization. Without the correct financial records, it is highly likely that a firm’s existence is short lived. That is the reason why the financial accounting system is one branch of any given firm that takes in the most investment. Firm managers invest a lot of capital into ensuring that the financial systems are in good condition. A financial system………………….

MLA

232 Words

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