Question

The design of the __ __ involves specifying the __ for identifying delinquent accounts and the ___ that must be reported.

As the domain expert, the accountant determines the __ of the __ required, its ___, its ___, and the accounting __ that need to be applied.

Answer 1

The design of accounting systems involves specifying criteria for identifying delinquent accounts and the information that must be reported. The accountant determines the level of detail required, accuracy, reliability, and accounting principles that need to be applied.

Step-by-step explanation:

The design of accounting systems involves specifying the criteria for identifying delinquent accounts and the information that must be reported. As the domain expert, the accountant determines the level of detail required, its accuracy, its reliability, and the accounting principles that need to be applied.

For example, when designing an accounting system for a business, the accountant may specify that any account with a balance overdue for more than 90 days should be considered delinquent. Additionally, the accountant may determine that certain financial information, such as cash flow statements or balance sheets, should be reported regularly.

Furthermore, the accountant must ensure that the accounting system complies with relevant regulations and standards, such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).