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Chapter 1: Basic Concepts of Accounting and Recording Process
Chapter 1: Basic Concepts of Accounting and Recording Process
What is Accounting?
Identifying, recording, classifying, reporting and interprate financial data
Useful for planning process, operation control & decision making.
Purpose of Accounting
provide evidence for buss transaction
recording, classifying and interprate all the basis transaction on money
value ( RM) systematically.
provide asset info, or liabilities to show the company financial status.
provide info of total income & the types
total expenses & the types
debtors & total debtors
creditors & total creditors
Jornalization
Reversing Entries General Journal
(Optional) Cash Receipts Journal
Cash Disbursements Journal
Purchases Journal
Sales Journal
Other Special Journals
ed.