An accounting system should provide accurate, timely budgets and performance reports in a form useful to

Question

Quizplus · Accepted Answer

Managers are the individuals responsible for making decisions regarding the financial operations of a business. Therefore, an accounting system should provide accurate and timely budgets and performance reports to aid them in making informed decisions. Shareholders may be interested in performance reports, but they are not responsible for making financial decisions for the company. Similarly, bankers may be interested in financial information, but they are not directly involved in the management of the company's finances. Revenue Canada is the tax authority in Canada and not a relevant party in this context.

An Accounting System Should Provide Accurate, Timely Budgets and Performance