DESIGN OF ACCOUNTING SYSTEMS FOR

SPECIALIZED ACTIVITIES
TOPIC VI

NAMES: TUITION:

Albania Yajaira Cordero CG-0792

Marie Martínez Martínez 100007232
Lidia Encarnacion 100170668
Edelis ortiz Adon 100275144
José Antonio Momtero 100207380
 DESIGN OF ACCOUNTING SYSTEM FOR SPECIAL
ACTIVITIES
Accounting systems design
Concepts:
“Nowadays, it is a little confusing, for someone new to the subject of accounting, to be able to clearly
understand what an accounting system is; due to two factors that influence our globalized
environment, of course not within the accounting jargon, since in some way these are related. But for
obvious reasons, we are a little confused by the terminology, since there are people who believe that
when we talk about an accounting system we are referring to accounting software, (While it is true,
accounting software includes, within its programming algorithm an accounting system), but let's look
at what we mean when we talk about an accounting system. Accounting System: “is the classification of
accounts and accounting books, forms, procedures and controls that serve to account for and control
assets, liabilities, entries, expenses and the results of transactions. Considering the previous definition,
in a broad sense, an accounting system is the set of records, controls, methods and procedures that
serve to achieve efficient accounting information, which serves for the company's decision making.
System design

System design is the high-level strategy for solving problems and building a solution. This
includes decisions about the organization of the system into subsystems, the assignment of
subsystems to hardware and software components, and fundamental conceptual and policy
decisions that constitute a framework for detailed design.

The overall organization of the system is what is called the system architecture. There are a
number of common architectural styles, each of which is suitable for certain classes of
applications. One way to characterize an application is by the relative importance of its object,
dynamic, and functional models. Different architectures place different degrees of emphasis
on the three
FINANCIAL INSTITUTION

A financial institution is an institution that provides financial services to its clients or

members. Probably the most important financial services provided by financial institutions is
acting as a financial intermediary or financial intermediaries. Most financial institutions are
regulated by the government;
TYPES OF FINANCIAL INSTITUTION

In general terms, there are three main types of financial institution.

1. Entities that take deposits, accept and manage them, and in turn make loans. Among
them are banks, savings and credit cooperatives or real estate loan companies.
2. Insurance companies and pension funds
3. Brokers, underwires and common pension funds.

FUNCTION

Financial institutions provide services as intermediaries in financial markets. They are

responsible for transferring funds from investors to the companies that need those funds.
Financial institutions facilitate the flow of money through the economy. By doing so, they allow
savings to be used to provide funds for loans.
 CLASSIFICATION OF FINANCIAL INSTITUTIONS

> According to the ownership of capital: Public, private, mixed banks

> According to their activities: commercial, savings, mortgage
> According to the nationality of the capital: National, Foreign
 FINANCIAL INSTITUTIONS / INSURANCE COMPANIES

An insurance company or insurer is the company specialized in the sector, whose

economic activity consists of producing the security service, covering certain economic risks
(insurable risks) to the economic units of production and consumption.

Its activity is an operation to accumulate wealth, through the contributions of many subjects
exposed to unfavorable economic events, to allocate what has been accumulated to the few
who are in need. It follows the principle of mutuality, seeking solidarity among a group subject
to risks.

Financial activity

The insurance activity is one of the three pillars of the financial markets, along with the credit
or banking market and the securities or financial instrument markets. Their strategic, social
and economic and social importance means that they are subject to
strict administrative supervision, control
o and inspection.
r
Risks

> The risks of fires.

> The risks of crops.
> The length of life of one or more individuals.
> The risks of the sea.
> The risks of transport by air or land.
 Classification

Its objective is to protect the working class against certain risks,

such as death, accidents, disability, illness, unemployment or motherhood. Their
premiums are mandatory and are borne by the insured and employers, and in some
cases the State also contributes with its contribution to the financing of compensation.
Another of its characteristics is the lack of a policy, with the rights and obligations of the
parties, given that these insurances are established by laws and regulated by decrees,
where these rights and obligations are specified.
 Classification

These insurances are those that the insured voluntarily contracts

to cover themselves against certain risks, through the payment of a premium that is their
exclusive responsibility.
Personal insurance includes life insurance,
accident insurance and disease insurance.
ACCOUNTING MANUAL FOR INSURANCE COMPANIES

GOALS
The Superintendency of the Financial System has prepared this Accounting Manual for
Insurance Companies, which harmonizes with the Insurance Companies Law and
complementary provisions on accounting matters and in accordance with internationally
used accounting practices and standards.

The objectives of this Manual are:

1. Standardize the accounting record of the operations carried out by entities authorized
to operate as insurance companies.

2. Obtain financial statements that reflect the economic-financial situation and that
constitute a useful instrument for the analysis of information, self-control and decision
making by the administrators and shareholders of the companies, the public that uses the
services and other parties. interested.

3. Have a homogeneous database that allows the

smooth operation of an indication system to facilitate monitoring and
control of the system as a whole
CONTENT

The First Chapter contains the objectives and application of the Manual, the general accounting
standards and the coding and naming system for the different levels of aggregation of accounts,
codes and naming to identify branches and risks, banking institutions and insurance companies.

C. MANUAL UPDATE
Only the Board of Directors of the Superintendency can make changes to this Manual; However,
insurance companies may expand the accounts by disaggregating them, as long as said
expansion corresponds to the concept of the account.

D. GENERAL ACCOUNTING STANDARDS

In addition to the particular standards defined in Chapter III Accounting Descriptions, it is
considered advisable to establish general standards whose application must be observed when
recording the operations carried out by insurance companies, which are: 1. Preparation of
financial statements
The financial statements will be prepared in accordance with the standards established by the
Superintendency.

valence of economic substance over form

nto of expenses and
income
4 .Accrual and monthly adjustments
5 . Balance compensation 6. Accounting for premiums for various risks policies
7. Expense allocation
8. Registration and filing of accounting documentation

9. Content of accounting balances

AND. INFORMATION RESPONSIBILITY

The directors, managers and employees who are responsible for preparing or reviewing the
accounting information will be responsible for any errors, omissions and irregularities it
contains.
AND. INFORMATION RESPONSIBILITY

The directors, managers and employees who are responsible for preparing or reviewing
the accounting information will be responsible for any errors, omissions and irregularities
it contains.

The elements defined in this Manual are the following:

1 Asset
2 Passive
3 Heritage
4 Bills
5 Income
6 Contingents and Commitments
7 Contingents and Contra Commitments
8 Control Accounts
hotel companies

A hotel chain is a group of companies or hotels grouped together, in the form of

horizontal concentration, with different ownership and management formulas
whose purpose is to obtain greater profitability, a situation of power, control and
prestige in the national market and international.
In accommodation companies and hotels, there are large businessmen with small
businesses. If these small companies want to obtain a market share, they must
integrate or group with the large businessman. This is the axis of the Hotel Chain,
giving rise to inter-business contracts.
Independent management

Property. The owner manages the business, makes the decisions and assumes the
risks. The accommodation company is not part of a hotel chain. To mitigate the
inconvenience of competition with large businessmen, these small companies seek
collaborations between independent businessmen without integrating into chains.
They create the Association of Independent Business Owners and/or join the AAVV
reservation systems.
B) Independent Grouped or Integrated Management. Hotel Chain, which
encompasses unified management to a greater or lesser extent, a certain number of
accommodation companies with a more or less extensive territorial distribution.
 Classification

It is difficult to talk about a single classification of hotel establishments since not all
countries have an official classification and if they do, it is not
the same criteria apply. Therefore, it can be seen that the same category presents different
characteristics depending on the country in which we are located. In Spain the classification
is not unique either since some Autonomous Communities have a specific one that always
coincides with the state one. The decision has been to take the latter as a reference, since it
is the most general. Specifically, in
the art. 2 of Royal Decree 1634/1983 of June 15, establishments are classified
 NGO INSTITUTIONS

NGOs are non-profit organizations without government aid. And those are the two
requirements that all NGOs meet, but beyond that there can be many kinds.

Types of Charitable NGOs: Includes NGOs with activities aimed at meeting the needs of
the poor - distribution of food, clothing or medicine; provision of housing, transportation,
schools, etc. These NGOs can also carry out relief activities during a disaster.

Service NGOs: includes NGOs that are dedicated to activities such as the provision of
health, education and family planning services. In short, services that should be assumed
by the State but that, for one reason or another, do not reach all citizens.
Participatory NGOs: they are characterized by carrying out self-help projects in local
communities. Local people participate in the execution of a project by contributing
cash, tools, land, materials, labor, etc.

Defense NGOs: These NGOs work to influence the social, economic or political
system. Its objective is to promote a series of changes, for example, respect for animal
rights or the end of social exclusion of some group.
In many cases, an NGO covers several of these typologies. It occurs especially in the
largest ones, which due to their size can act on several fronts.
NG according to its orientation
TYPES OF NGOS ACCORDING TO AREA OF ACTION

Community-based NGOs: arise from community initiatives. These types of NGOs can
include sports clubs, women's organizations, neighborhood organizations, religious or
educational organizations.
Citizen NGOs: their scope of action is a specific city. In many cases they do not have a
big difference with the previous group.
National NGOs: operate at the national level. In some cases the NGO may have
emerged in a country other than the place where they carry out their activities. For
example, during the refugee crisis, several groups of Spaniards have gone to Greece to
help and have ended up founding an NGO there.
International NGOs: International NGOs work in several countries around the world
and are the best known. Examples of this type of NGO are
House or commercial or industrial company founded to undertake or carry out
constructions, businesses or important projects.

Entity made up of capital and labor as factors of Production and dedicated to

industrial, commercial activities or provision of services, generally for profit and with
the consequent responsibility.

A construction company is a company

 Bibliography
https://es.wikipedia.org >Financial_Institution