Accounting system

2024-11-14T23:20:44Z

Ayobami:

[https://www.oecd.org/governance/budgeting/2018-Glossary-Capital-Budgeting-and-Infrastructure-Governance.pdf Glossary of Capital Budgeting and Infrastructure Governance], published by the Organisation for Economic Co-operation and Development (OECD) in 2018, suggests that the concept of an accounting system: ‘…refers to the system for recording financial transactions. The two major accounting systems are cash-based accounting and accrual-based accounting. Cash-based accounting systems recognise transactions and events when cash is received or paid, whereas accrual-based accounting is a system in which revenue is recognised when it is earned and expenses are recognised as they are incurred.’

= Related articles on Designing Buildings =

* Accountability.
* Accountable person.
* Accounts.
* Accounting officer.
* Budget.
* Business plan.
* Contract.
* Contractor.
* Procurement.
* Supplier.
* Tender process.
* Tender.

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Accounting system