Question

Two Scoops uses the information to track cash, sales revenue, and expenses daily. How does this type of accounting system facilitate effective decision making

Answer 1

Two Scoops uses the information to track cash, sales revenue, and expenses daily. This type of accounting system facilitate effective decision making by the following ways.

What is accounting system?

An accounting system is a collection of accounting operations with built-in controls.

Effective decision making through given accounting system are-

• This strategy would ensure that the business was completely aware of its daily sales and what the counter balance ought to be at any given moment.
• It would be simple to make business decisions that are in line with the needs of the firm and not just arbitrary decisions based on reality contacts thanks to the data obtained from this procedure being ready to put in to excel sheets and be shown in the form of various charts.
• Since they are aware that the accounts are regularly audited, store staff would not want to take part in stealing from the cashier.

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