Acc106 Assignment Definition

 

TRANSACTION FOR ONE MONTH

NODATETRANSACTION

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!ENERAL (OURNAL!()

DATEPARTICULARFOLIODEBIT(RM) CREDIT(RM) 2019$-1F,?!*&+ $- F,!!,-;+GL11000B$-/CB17000C$+"CB111000C$,!$GL4100000100000100000(B$$-.& ' $++&!+8 &*,!< $- ,$,,!,&+)9$-F,?!*&+ $- F,!!,-;+GL11000

 

Rochelle Rawlingson 384542and objectives, this can be used in a positive way because the business can thensee if they might be able to expand or buy stock in advance. The Human Resourcesand Sales department within a business may benefit from accurate Managementaccounting.Management accounting is concerned with information for management purposes:it is internal information for the organisation itself and is very rarely made public,unlike financial accounting information. The main jobs of an accountant are;1Maintaining, preparing and auditing financial documents.2Analysing business progress.3Monitoring transactions.

What is the purpose of accounting?

 There are two answers to this question, below are both answers;1)The purpose of accounting is to provide information about financial situation of an organisation.2)It also is the systematic recording, reporting and analysis of financialtransactions of a business

Who would be interested in viewing the business accounts?

Many different groups of people will be interested in viewing the business accountsfor a various reasons: below I will explain in more detail.

Shareholders –

 These people will want to see the accounts because they will wantto know if their money has been well invested. This is applicable within a limitedcompany.

Staff –

Staff may want to see the accounts to make sure their job is safe, butemployees may not be seen as senior enough to view the accounts. This isapplicable within a both ltd and plc companies.

Owner –

 To monitor whether his/her business is running smoothly and to overseeits progress. This is applicable within both limited and pubic companies.

Government (HM Revenue and Customs) –

 To monitor the business’ progressand to check every process is being carried out legally. The government will monitor3

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