Accounting record keeping
Presentation
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Business
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12th Grade - University
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Practice Problem
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Easy
James Jinazali
Used 13+ times
FREE Resource
10 Slides • 8 Questions
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Accounting record keeping
How to keep accounting records
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Learning outcomes
- Identifying the main types of accounting
- Understanding nature of accounting records ( handwritten vs computer based)
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Open Ended
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Multiple Choice
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Multiple Choice
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Multiple Choice
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Multiple Choice
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Multiple Select
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Multiple Select
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Open Ended
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Hand written accounting records
Traditional form of keeping books of accounts
The main record kept by these businesses is the ledger
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Computerised Accounting records
Business transactions are input into a computer
Currently there are various accounting application on the market
Including Sage, QuickBooks, Xero etc
Major advantage is “ Very accurate” record keeping method
However, it is time consuming to set up (especially to smaller businesses)
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Record keeping practical points
Whether business transactions are recorded by hand or using computer “the basic accounting principles remain the same”
When maintaining financial accounts bear in mind that the records are kept:
Accurately
Up – to- date
Confidential (not to be revealed to unauthorized people)
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Accounting record keeping
How to keep accounting records
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