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INTRODUCTION TO ACCOUNTING., Internal users, Sole Proprietorship,…
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Internal users
External Users
- Current and Potential Investors
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- Consumers of Product/ service
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Limited Companies
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Management and Control -Managed and controlled by a board of directors appointed by the share holders.
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Accounting
- Accounting is the art of classifying , recording and summarising transactions and business event in monetary terms and interpreting the results to interested parties to enable them to make decisions.
- Four stages of accounting :-
Bookkeeping
- Bookkeeping is the record of transaction systematically leads to the development of the double entry principles.
- Three stages of bookkeeping :-
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