The processes and procedures used by an organization's management to exercise financial control and accountability. These measures include recording, verification, and timely reporting of transactions that affect revenues, expenditures, assets, and liabilities.
Use 'financial system' in a Sentence
You need to know all of the ways the financial system works and try to find a way to make the most out of it.
You need to be able to use the financial system to your businesses advantage so that you can make the most out of it.
The financial system that was in place was full proof and ran so smoothly it made us all very happy and excited.
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