Answer :
Five main components of an accounting system.
(1) Source document
Source documents are business documents that track business transactions.It provides the basic information processed by an accounting system example - Bank statements , invoice from supplier , Billing from customers
Cash register files and employees earning record.
(2) Input devices
It is used to enter transaction information into accounting system example - Key boards , modems.
Thease divices help employees to enter source document into system
(3) Information processors
It take the raw data from input device and post it to ledgers ,Journals and reports. Information processors is key part of professional judgment. processor like computer and software programs process the data so decision makers can use it.
(4) Information Storage
It keeps the data in a form accessible to information processors, After being input and processed data are stored for analysis and reports.
(5) Output device
Output devices are any devices that take information from the system storage and display it in a useful way , so it can be used. example - monitors , printers ,projectors.
Explain the five main components of an accounting system.
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