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INTRODUCTION TO ACCOUNTING (TYPES OF BUSINESS ORGANISATIONS (SOLE…
INTRODUCTION TO ACCOUNTING
TYPES OF BUSINESS ORGANISATIONS
SOLE PROPRIETORSHIP
PARTNERSHIP
LIMITED COMPANY
DIFFERENCES BETWEEN ACCOUNTING AND BOOKKEEPING
ACCOUNTING
STAGES
RECORDING
SUMMARIZING
CLASSIFYING
INTERPRETING
BOOKKEEPING
MECHANICAL ASPECTS OF ACCOUNTING
CLASSIFYING
RECORDING
SUMMARIZING TRANSACTION SYSTEMATICALLY
THE PURPOSE OF ACCOUNTING INFORMATION
TO KNOW THE FINANCIAL STATUS OF THE ORGANISATION
FOR EASIER REFERENCES
TO AVOID MISLEADING FINANCIAL STATEMENT IF THERE ARE NO PROPER RECORD
THE USERS OF ACCOUNTING
EXTERNAL
CURRENT AND POTENTIAL INVESTOR
GOVERNMENT
PAYABLE/BANKER
INTERNAL
EMPLOYEES
MANAGERS
OWNERS
ACCOUNTING PROCESS
TRANSACTIONS
SOURCE DOCUMENTS
JOURNALS
LEDGERS
TRIAL BALANCE
ADJUSTMENTS
FINANCIAL STATEMENTS