Principle Essay

1566 WordsFeb 19, 20157 Pages
Table of content 1. Definition of accounting 2. Form of business organization 3. Advantages and disadvantages for Sole trader and Partnership 4. Definition of capital and revenue capital expenditure 5. Examples of capital and revenue expenditure 6. Accounting implications 7. Conclusion 8. Referencing What is accounting ? Accounting is both what they do and the subject that we study. Without accounting, that organizations would have no basis or foundation upon which daily and long-term decisions could be made. The part recording of financial transactions plus storing, sorting, retrieving, summarizing, and presenting the information in various reports and analyses. Accounting is also a profession consisting of individuals having the formal education to carry out these tasks. They normally, maintaining records of financial event, typically calculating the cost and desirability of different sources of finance and estimates of future expenditure preparing annual statements and auditing them, calculating tax liabilities, and so on. Accounting also entails providing a company's management with the information it needs to keep the business financially healthy. Another part of accounting involves compliance with government regulations pertaining to income tax reporting. The specific accountant which mentioned are example, some of the things that accountant do as part of their activity. From of business organization The choice of an appropriate business structure is important for individuals contemplating commencing a business. Many characteristic must be taken into account when determining form business of business organization. They have four organizational types that are common which sole trader , partnership , company , and national company. Their by good friends, Kim plans to open a cafe selling for the near future. The

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