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ACCT-102

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1When designing and developing an accounting system for an organisation, what factors must one take into account?The cost-vs-benefit issue; internal control policies; workability and compatibility factors; and adaptability.
2Describe the cost-vs-benefit issue in the context of designing and developing an accounting system?It means the benefits derived from developing such a system must outweigh or at least equal the costs incurred to develop it.
3Describe the internal control issue in the context of designing and developing an accounting system?It means that the system must incorporate internal control measures to protect the organisation's assets as well as generate reliable information.
4Describe the workability and compatibility factors in the context of designing and developing an accounting system?An accounting system must be suited to organisation: therefore, the workability and compatibility issue means that the system must work in harmony with human and non-human factors of the organisation.