BOOK KEEPING O LEVEL(FORM ONE) NOTES – FINAL ACCOUNT
Final AccountTrading Account & Profit and Loss AccountThe primary purpose of a business is to earn profit. A trader needs to know how well the
BOOK KEEPING O LEVEL(FORM ONE) NOTES – CLASSIFICATION ACCOUNTING
CLASSIFICATION ACCOUNTINGAccount can be classified into two main categories; a). Personal account. b). Impersonal account. 1. PERSONAL ACCOUNTPersonal account is for a name of persons
BOOK KEEPING O LEVEL(FORM ONE) NOTES – DOUBLE ENTRY SYSTEM
DOUBLE ENTRY SYSTEMMeaning:Is the book keeping principle of recording transactions twice in a book of account whereby the principle states that every debit entry must
BOOK KEEPING O LEVEL(FORM ONE) NOTES – ELEMENTARY BALANCE SHEET
ELEMENTARY BALANCE SHEET ELEMENTARY BALANCE SHEETIs a statement which shows that list of assets, liabilities and capital of business at as specific period.The purpose of
BOOK KEEPING O LEVEL(FORM ONE) NOTES – INTRODUCTION OF BOOK KEEPING
Introduction of Book KeepingBook keeping: can be defined as the art of recording financial business transactions in a set of books in terms of money