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Japan Paper

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Accounting Systems in Japan Accounting Systems The evolvement of digital technology has contributed to the advancement of internal operational effectiveness in an organization. Among the areas that have benefited significantly from one technological paradigm is the accounting. Ideally, accounting systems have grown to be an integral and essential part of modern business entities. Essentially, the accounting systems manage and keep tracks of a business’s income, expenses and any other financial activities. In addition, these accounting systems play an essential role in the creation of reports (Nobes, 2008). Japan has highly benefited from the use of accounting systems and even contributed to the ultimate improvement of the country’s Gross Domestic Product. Accounting Systems used in Japan The following are the two types of accounting systems used in Japan’ i. Manual Accounting systems The manual accounting systems is a formal process of the maintenance of the accounting records in an organization without the aid of computerized systems. In this system, the financial transactions are witted in form of journals, from which the information can be manually rolled up and set into a foundation of financial statements (Simkin, 2014). The manual accounting systems in Japan are often used in small enterprise businesses such as the sole proprietorships. The primary goal for the use of the manual accounting system is for the reduction of upfront expenses that are often engineer ...
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