List and Briefly Discuss the Three Basic Components of an Accounting

question 15

Essay

List and briefly discuss the three basic components of an accounting information system.

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Definitions:

Capacity Building

The process of developing and strengthening the skills, instincts, abilities, processes, and resources that organizations and communities need to survive, adapt, and thrive.

Managing Risk

The process of identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize, monitor, and control the probability or impact of unfortunate events.

Quantified Targets

Specific, measurable goals set by an organization or project, often expressed in numerical terms, to track performance and progress.

Objectives

Specific, measurable goals that an organization or individual aims to achieve within a set timeframe.