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TUTORIAL 1, AINI FARHANAH BINTI ABAS 22F 221240224 - Coggle Diagram
TUTORIAL 1
- Explain briefly the four stages of accounting.
- record transaction to journal
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- post journal information to ledger
posting takes all transactions from the journal during a period and moves the info to a general ledger
- identify and analyze transaction
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- prepare unadjusted trial balance
takes info from the general ledger and transfer it onto a a document showing an account balance, and ensuring that debts and credits for the period balance
1.Differentiate in terms of capital, ownership, and liability of members
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Limited company
Capital; the maximum amount of share capital that a company is allowed to issue to its shareholders as per its constitutional documents
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- Explain the importance of financial reports to the external and internal decision makers.
it provides a snapshot of corporation's financial health, giving insight into its performance, operations and cash flow
they can provide enormous info about a company's revenue, expenses, profitability, debt load and the ability to meet its short term and long term financial statement
- State 2 types of journal and 2 types of ledgers.
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