![]() For Example, when we purchased goods for cash, we received goods and give cash in return, similarly in a credit sale of goods, goods are given to the customer and customer becomes debtor for the amount of goods sold to him. We have seen earlier that every business transaction has two aspects, i.e., when we received something we give. ![]() So that it may be used by manager, owners and other parties. such accounting records are required to be maintained to measure the income of the business, communicate the information. In other words an account is a systematic record of all transaction relating to a person, an asset, a liability, an expense or an income. The main purpose of accounting is to ascertain profit or loss during a specified period, to show financial condition of the business on a particular date and to have the control over the firm‟s property. Some Text from the Tally Notes PDF Accounting:
0 Comments
Leave a Reply. |