Glossary Term Explanation System that collects and processes data and Accounting information system communicates financial information Period used for calculating annual financial statements Financial year and summaries The collection of accounts that capture all the financial General ledger activities of an organisation System of procedures and forms established in a Internal control system business to safeguard its assets and ensure the reliability of accounting information Legislation is laws that have been made by governments Legislation or governing bodies Organisation of workers who have come together to Trade Union promote and protect their interests
Glossary Term Explanation Accounting information system System that collects and processes data and communicates financial information Financial year Period used for calculating annual financial statements and summaries General ledger The collection of accounts that capture all the financial activities of an organisation Internal control system System of procedures and forms established in a business to safeguard its assets and ensure the reliability of accounting information Legislation Legislation is laws that have been made by governments or governing bodies Trade Union Organisation of workers who have come together to promote and protect their interests