In understanding the nature of accounting system, a review of the different definitions given by different authors will be of great
importance. More and Steffler (1993), define accounting system as a means by which the management of an entity accomplishes the collecting, processing, and reporting of the
essential data that reflect the results of the operations carried out under its direction and supervision. Smith and Ashburne (1990) opined that the accountant should be concerned with only those economic data which will illuminate the financial position of an enterprise of the financial results of its operations.