Excerpt from System Building and Constructive Accounting
There is probably no branch of accounting work which furnishes a broader field for the exercise of constructive ability and business analysis than that of designing and installing accounting systems for various lines of business activity.
There is probably no branch where the requirements are more exacting in order that the efforts of the systematizer may meet with success. Not only must he be thoroughly grounded in a knowledge of fundamental accounting principles but he must have a thorough understanding of the various intricacies involved in everyday business operations.
A system properly designed will furnish the executive with a chart by which to steer his business course; if improperly designed it will be merely a record of past events, in which case it shows only the financial standing of the business as of a given date, frequently so long after the events have transpired as to be of no value whatever. The usefulness of any system depends solely upon its design and the care with which the various steps have been worked out.
The fundamental principles of system building as applied to various classes of business are first of all a comprehensive plan of operation for securing a required result with the least amount of waste in energy, time and money.
The successive steps, and importance of each section or department in any business can be illustrated in two examples, viz.:
A. In a retail or wholesale business the departments are usually classified under five headings:
Purchasing and Receiving
Selling
Delivery
Administration
Financial.
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