System Definition System Definition: System is a set of interrelated and interdependent parts arranged in a manner that produces a unified whole. System may be a closed system or an open system. Other Related Accounting Articles: Open Interest Open Ended Management Company Closed System Definition Open System Definition Open Market Transaction Open Ended Investment Company Open Market Rate Open End Mortgage Definition and Explanation of Accounting Definition and Explanation of Bookkeeping Recommended Books ! Or Download E accounting book in MS-word format for just 20 $ - Click here to Download Tweet Pin It Abida Rehman Accounting Definitions, Managerial Accounting No Comments Home » Accounting Definitions & Managerial Accounting » System Definition About The Author Abida Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Save my name, email, and website in this browser for the next time I comment.