Accounting System Pattern

An Accounting System Pattern is an abstract system that facilitates accounting tasks.

• Context:
  • It can be supported by an Accounting Information System.
  • It can range from being a For-Profit Accounting System to being a Not-for-Profit Entity Accounting System, such as a governmental accounting system.
  • …
• Example(s):
  • a Cash-based Accounting System.
  • a Fund-based Accounting System.
  • a Managerial Accounting System.
  • an Inventory Accounting System.
  • a Manufacturing Accounting System.
  • …
• Counter-Example(s):
  • a Writing System.
  • an Ontology.
  • an Emergency Response System.
• See: Financial Data.

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References

2016

• (City Council of Barnstable, 2016b) ⇒ Town of Barnstable. (2016). “Town of Barnstable Adopted Operating Budget - 2017."
  • QUOTE: Accounting system: The total structure of records and procedures that identify, record, classify, and report information on the financial position and operations of a governmental unit or any of its funds, account groups, and organizational components.

2015

• http://www.businessdictionary.com/definition/accounting-system.html
  • QUOTE: Accounting System: Organized set of manual and computerized accounting methods, procedures, and controls established to gather, record, classify, analyze, summarize, interpret, and present accurate and timely financial data for management decisions.

• http://dictionary.cambridge.org/us/dictionary/english/accounting-system
  • QUOTE:
    • a particular way in which a ?company or ?organization ?records and ?reports its ?financial ?information: Your ?accounting ?system ?needs to be ?designed to ?track ?costs and ?monitor all ?company ?transactions.
    • the set of ?principles and ?methods used by ?organizations for ?recording and ?reporting ?financial ?information: The ?financial ?accounting ?system was historically well ?established before the ?concept of ?cost ?accounts was introduced.
    • a computer program or set of computer equipment and software that is used for keeping accounts: Management circumvented the company's ?internal ?accounting ?controls by ?overriding the company's ?computerized ?accounting ?system. You can ?purchase ?accounting ?system ?software for as little as $100.
    • …

• http://smallbusiness.chron.com/examples-accounting-systems-25408.html
  • QUOTE: Accounting systems are comprised of manual or computerized records of financial transactions for the purpose of recording, categorizing, analyzing and reporting timely financial management information. When selecting an accounting system, understand your needs and the categories of accounting systems and features available to you.
    • Managerial Accounting: The purpose of managerial accounting is to provide managers with information to plan, control and manage the operations of a business. It provides management with the information needed to make important decisions about the business. One type of managerial accounting system is cost accounting. Cost accounting systems record actual costs incurred in delivering a product or service, comparing those costs to standard or planned costs and highlighting variances for investigation and follow up. Another managerial accounting system is lean accounting. Lean accounting involves the examination of processes and related results to determine how to create more value for less cost, eliminating waste of resources.
    • Inventory Accounting: Inventory accounting systems are used to plan and track inventory levels and inventory related activities. One common inventory system is bar code tracking. Each inventory item is tagged with a bar code. As inventory items are brought into a warehouse or moved out of a warehouse, the bar codes are scanned to add to or subtract from inventory. Bar code systems can also be used to track for and account for items as they are moved around in a warehouse. Another type of inventory accounting system is RFID, a new technology that will see expanded use. This type of system, more advanced than bar coding, has a device on each inventory item that emits a signal. Readers can detect the signal and track the inventory. Unlike bar coding, this system can track the actual movement of inventory in real time as it moves around a warehouse.
    • Industry-specific Accounting: Accounting systems also include industry-specific applications. A retail accounting system, for example, has different requirements than in other industries. Sales are captured at the point of sale using computerized point-of-sale cash registers. When items go on sale, the retail accounting system must track and properly report on merchandise markdowns. Legal accounting software has other specific requirements as well, including the tracking of time spent by attorneys, dollar amount of time billed out based on an hourly rate and the utilization rate of each attorney. Utilization rate is the percent of a person’s time spent that is billable as opposed to administrative.
    • Not-for-profit Accounting: Not-for-profit accounting has its own specific set of reporting requirements. For example, funds must be tracked so that donations designated for specific purposes are properly spent. The software should also be able to produce donation statements that report on amounts contributed by individual donors.

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