Accounting Processes and Procedures refer to the systematic methods used in an organization to record, process and report financial transactions. They represent the way that a company processes its financial activities, such as invoicing customers, generating payroll and managing accounts payable. By implementing sound accounting processes and procedures, organizations can ensure that they are making accurate decisions, efficiently managing their finances and complying with both internal and government regulations. Good accounting practices also help businesses protect their assets, provide better customer service and create greater transparency in their operations. Accounting Processes and Procedures form the foundation for accurate financial reporting and proper decision making.