The systematic recording of the financial transactions of an enterprise is known as book keeping or accounts keeping. It is concerned with keeping of records of every transaction, whether for sale, purchase or business expense that happens in the course of business It is the art of recording money transactions so that the
financial position of an undertaking and its relationship to both its proprietors and to outside persons can be readily ascertained. The book-keeper writes up books and makes accounting records.
financial position of an undertaking and its relationship to both its proprietors and to outside persons can be readily ascertained. The book-keeper writes up books and makes accounting records.
Accountancy is concerned with the knowledge of how to make accounting. Accountancy guides us how to design and maintain various books of accounts and prepare the financial statements and communicate accounting information to the parties interested in them. It also advises management. The Accountant is
responsible for directing and co-ordinating the work of book- keeping staff and for designing and maintaining accounting systems according to the needs of the particular business. Preparation of the periodic accounts of profit and loss account and financial statements in a form which will be assistance to the management in appraising the past results and formulating the future policy are important contributions of the accounting staff.
responsible for directing and co-ordinating the work of book- keeping staff and for designing and maintaining accounting systems according to the needs of the particular business. Preparation of the periodic accounts of profit and loss account and financial statements in a form which will be assistance to the management in appraising the past results and formulating the future policy are important contributions of the accounting staff.
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