financial system
Definition
Processes and procedures used by a firm'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.
financial system is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
financial system appears in the definitions of the following terms:
national debt,
threshold effect,
secondary market,
lender of last resort,
tight money,
Bank for International Settlements (BIS),
payment system,
TED Spread,
discount market,
panic
and
financial system appears in the other term: integrated financial system
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