Accounting is the lifeblood of an organization. No organization can be imagined without it. It is something that affects people in their personal life, just as much as it affects large organization and also small organization. We all use accounting ideas when we plan what are we going to do with our money and we have to plan how much of it we will spend and how much we will save. All these are possible by accounting. It is a part and parcel tool of an organization. It helps the management about the financial condition and to provide necessary information. No organization can exit today’s comparative business world without accounting. In case of sole proprietorship business accounting is also used. The business organization in which a single person owns, manages and controls all the activities of the business is known as sole proprietorship from of business organization. Here in this report we have emphasized on the accounting practice of sole proprietorship. This report highlights the different steps of accounting practice of sole proprietorship. Systematic way that company uses and this report gives us the chance to compare our academic knowledge with practical field. As a result we have selected some sole proprietorship business, which helps us to acquire our practical knowledge on communication systems in our practical life.
This document provides an overview of the Principles of Accounts 1 module. It defines bookkeeping as recording business transactions and accounting as analyzing a business's financial performance. Bookkeeping involves routinely and accurately recording all financial activities, like expenses and revenues, using source documents as evidence. Accounting uses this financial information to evaluate a business's management and compare its performance over time and to other organizations. Studying this subject prepares students for careers in management by teaching important financial reporting and analysis skills.
Rizwan Akbar is an ACCA member and ICAEW finalist seeking a position that allows him to utilize his expertise in financial analysis, reporting, planning, and management. He has over 10 years of professional experience including roles as Assistant Financial Controller and Audit Supervisor. He has strong skills in accounting, budgeting, reporting, controls and compliance.
The accounting cycle is a series of steps that organizations go through to record financial transactions, maintain accounting records, and produce financial statements. It involves recording transactions, posting them to accounts, performing adjustments, preparing a trial balance, and ultimately generating financial reports like the income statement, balance sheet, cash flow statement, and statement of retained earnings. Public companies must have their financial statements audited by an independent auditor before publishing them.
This document discusses various topics related to financial management, including:
- Forms of business organization such as sole proprietorships, partnerships, and companies
- Financial statements such as balance sheets, income statements, and cash flow statements
- Accounting concepts and conventions used in preparing financial statements
- Types of financial statement analysis used by external users to evaluate companies
Narendra Kumar is a senior accountant with over 8 years of experience. He has expertise in accounting tasks like preparing invoices, filing sales tax returns, managing TDS and income tax, bank reconciliation, and bookkeeping. He is proficient in Tally ERP 9 and Microsoft Office applications. Narendra holds an MBA in supply chain management and has worked as a senior accountant for multiple companies in Delhi, managing their accounting functions. He is seeking a challenging position as a senior accountant to utilize his accounting skills.
1) The document discusses accounting concepts including the accounting equation, financial statements, and business transactions.
2) It provides examples of how business transactions affect the basic accounting equation and financial statements. Specifically, it walks through a series of transactions for a new business and shows the impact on assets, liabilities, and owner's equity.
3) The key financial statements are defined as the income statement, statement of owner's equity, and balance sheet. An example income statement is also provided.
The candidate is seeking a senior position that utilizes extensive experience. They have over 10 years of experience in accounting and finance roles. Their most recent role was as an Accountant at Hasbro Toy where they performed accounting, financial analysis, and reporting duties. Prior to that they held roles with increasing responsibility at other companies such as NOL Global Services Centre and Genting Malaysia Berhad. They are pursuing their ACCA Professional Level qualification and have strong computer and language skills.
This document provides an overview of the Principles of Accounts 1 module. It defines bookkeeping as recording business transactions and accounting as analyzing a business's financial performance. Bookkeeping involves routinely and accurately recording all financial activities, like expenses and revenues, using source documents as evidence. Accounting uses this financial information to evaluate a business's management and compare its performance over time and to other organizations. Studying this subject prepares students for careers in management by teaching important financial reporting and analysis skills.
Rizwan Akbar is an ACCA member and ICAEW finalist seeking a position that allows him to utilize his expertise in financial analysis, reporting, planning, and management. He has over 10 years of professional experience including roles as Assistant Financial Controller and Audit Supervisor. He has strong skills in accounting, budgeting, reporting, controls and compliance.
The accounting cycle is a series of steps that organizations go through to record financial transactions, maintain accounting records, and produce financial statements. It involves recording transactions, posting them to accounts, performing adjustments, preparing a trial balance, and ultimately generating financial reports like the income statement, balance sheet, cash flow statement, and statement of retained earnings. Public companies must have their financial statements audited by an independent auditor before publishing them.
This document discusses various topics related to financial management, including:
- Forms of business organization such as sole proprietorships, partnerships, and companies
- Financial statements such as balance sheets, income statements, and cash flow statements
- Accounting concepts and conventions used in preparing financial statements
- Types of financial statement analysis used by external users to evaluate companies
Narendra Kumar is a senior accountant with over 8 years of experience. He has expertise in accounting tasks like preparing invoices, filing sales tax returns, managing TDS and income tax, bank reconciliation, and bookkeeping. He is proficient in Tally ERP 9 and Microsoft Office applications. Narendra holds an MBA in supply chain management and has worked as a senior accountant for multiple companies in Delhi, managing their accounting functions. He is seeking a challenging position as a senior accountant to utilize his accounting skills.
1) The document discusses accounting concepts including the accounting equation, financial statements, and business transactions.
2) It provides examples of how business transactions affect the basic accounting equation and financial statements. Specifically, it walks through a series of transactions for a new business and shows the impact on assets, liabilities, and owner's equity.
3) The key financial statements are defined as the income statement, statement of owner's equity, and balance sheet. An example income statement is also provided.
The candidate is seeking a senior position that utilizes extensive experience. They have over 10 years of experience in accounting and finance roles. Their most recent role was as an Accountant at Hasbro Toy where they performed accounting, financial analysis, and reporting duties. Prior to that they held roles with increasing responsibility at other companies such as NOL Global Services Centre and Genting Malaysia Berhad. They are pursuing their ACCA Professional Level qualification and have strong computer and language skills.
This document provides an introduction to the topic of financial management. It defines what business finance entails and discusses the three main questions it aims to address: 1) what long-term investments a business should take on, 2) where to get long-term financing to pay for investments, and 3) how to manage everyday financial activities. The document then outlines some key classifications and definitions in finance, discusses the objectives and areas of finance, and provides an overview of the roles and decisions involved in financial management.
Khaled Mohamed Sadeky El-Rashidy is a financial manager with over 7 years of experience in accounting. He has a bachelor's degree in accounting and certifications in management accounting and English proficiency. El-Rashidy has extensive experience implementing and managing Oracle financial systems and working with banks. He is currently seeking a managerial position that allows him to utilize his skills in financial planning, analysis, budgeting, and team leadership.
This document contains information about an MBA program session from July/August 2021, including course details and student responses to assignments. The assignments include discussing 5 accounting concepts with examples, preparing a trading account, and distinguishing between management accounting and financial accounting. It also includes the balance sheet of a company and calculations of debt-equity and proprietary ratios based on the information provided. The purpose of a cash flow statement is to analyze changes in a company's cash position and the sources and uses of cash. Examples of cash flows include receipts from customers and payments to suppliers for operating activities.
This document discusses key financial statements including the balance sheet, income statement, and statement of cash flows. It provides examples of each statement for a sample company in 2002 and 2001. The balance sheet shows a company's assets, liabilities, and equity at a point in time. The income statement summarizes revenues and expenses over a period of time. The statement of cash flows reports how a company's activities affected cash flow over a given period.
Flexible Budgets and Performance Analysis chap 9 slides 17e.pptxSurakshaSachdev
This document provides an overview of flexible budgets and performance analysis. It discusses the variance analysis cycle and how flexible budgets improve performance evaluation by enabling more accurate comparisons. The document outlines how to prepare a flexible budget, identify deficiencies in static planning budgets, and calculate activity, revenue, and spending variances. It also shows how to create a performance report combining these variances. The document demonstrates these concepts using an example of a hairstyling salon. It notes how flexible budgets can incorporate multiple cost drivers and discusses applying these techniques to non-profit organizations and cost centers.
The impact of working capital management on firm profitability in different b...Rifat Humayun
This paper investigates the effect of the business cycle on the link between working capital, the difference between current assets and current liabilities, and corporate performance.
Efficient working capital management is recognized as an important aspect of financial management practices in all organizational forms.
In acknowledgement of this importance, the CFO Magazine publishes an annual study of corporate working capital management performance in many countries.
Cash and cash equivalents include cash on hand, bank deposits, and highly liquid short-term investments that can be converted to cash within three months. Cash is recorded at face value and presented as a line item on the balance sheet, with details disclosed in notes. Cash equivalents are short-term, highly liquid investments acquired close to maturity. Excess cash may be invested long-term if over one year, or short-term if under one year. Adjusting entries are needed for unreleased, postdated, and stale checks as well as cash shortages or overages.
Basics of Accounting. Principles and concepts of Accounting
what is Double Entry System of Accounting?what Financial Statements?
Accounting is a process of identifying, recording, summarising and reporting economic information
to decision makers in the form of financial statements.
This document provides information about an accounting internship. It defines accounting as identifying, measuring, and communicating financial information about an entity. The course objective is to familiarize students with academic and career opportunities in accounting. The internship is 2.5 months long, 272 hours spent at a company with a maximum of 3 students. Students will develop skills in time management, accounting software, communication, problem solving, and understanding accounting rules and procedures. Pros are hands-on experience and working with different teams, while cons are interns are not equal staff and may do menial tasks instead of practicing their specialty.
Muhammad Mohsin Sardar is seeking a position in audit, accounts, or finance with over 4 years of experience in those areas. He has a BSc in accounting from Oxford Brookes University in the UK and is a finalist in the ACCA program. His experience includes positions as an accounts and finance manager, accounts officer, accountant, and audit executive. He has strong skills in accounting systems, analysis, problem-solving, and meeting deadlines.
This document is a resume for Muhammad Mohsin Sardar, seeking a position in audit, accounts, or finance. It summarizes his professional qualifications including over 4 years of experience in accounts and finance in Pakistan. He is professionally Part Qualified ACCA along with a BSc in Accounting from the UK. His skills include proficiency in accounting systems, analytical and problem solving abilities, and being detail-oriented. His employment history includes positions as an Accounts and Finance Manager, Accounts Officer, and Audit Executive. His responsibilities have involved financial reporting, accounting, auditing, payroll, and more. He is seeking a new position immediately and is available to join.
http://accountinghomeworkrescue.com/accounting-the-evolution-of
There are many functions of both the idea of accounting and accountants in general. The need for bookkeeping and records, as well as keeping numbers is both an organizational tool that is used by many, as well as a framework for an entire business model. In order for a business to thrive and progress, it needs to have a strong sense of bookkeeping properties, which incorporates accounting greatly. Even in households, there is a large need for a type of accounting practice. The numbers of every bill and purchased item needs to be accounted for in one way or another to prevent a debt or loss of money. This idea of organization and checks and balances is what keeps bookkeeping and accounting so relevant today. Check out the above link for accounting homework help.
SIDDHESWAR CO-OPERATIVE BANK LTD, BIJAPUR arun savukar
The document provides information about cooperative societies and Siddheswar Cooperative Bank Ltd in Bijapur. It discusses that cooperative societies are voluntary associations formed to benefit members through mutual assistance. Siddheswar Cooperative Bank Ltd was established in 1912 to provide financial services to poor and middle class individuals. The document outlines the key features of cooperative societies, how they are established and registered, their administration, types of cooperative societies, and components of working capital for businesses.
This document provides an introduction to the concepts of accounting. It defines accounting as a system that collects and processes financial information to allow informed decisions by users. It discusses the need for accounting to determine results of business transactions and the financial position. It outlines the key functions of accounting like identifying, recording, classifying, summarizing, analyzing, interpreting and communicating financial information. It also discusses the accounting cycle and different branches and users of accounting information. Finally, it provides definitions of some basic accounting terms.
Nazuk - Senior Accountant Resume with 10 yrs of UAE expNazuk Usman
This document provides a summary of Nazuk Usman's qualifications and experience. It summarizes her as a self-motivated accounting professional with over 10 years of experience in the UAE in accounts receivable, payable, financial and managerial accounting. She has a Master's in Business Administration specialized in Finance and a Bachelor's in Commerce specialized in Accountancy, Mathematics and Economics. Her most recent role was as a Senior Accountant at Huawei Tech UAE FZ LLC from 2006 to 2016 where she managed accounting operations and reconciliations.
Stu Ch04 Completing The Accounting Cycleguest441011
1) The document describes the accounting cycle and accrual accounting. It explains adjusting entries for unrecorded receivables, liabilities, prepared expenses, and unearned revenues.
2) The accounting cycle includes preparing financial statements and notes, and the closing process of closing revenue, expense, and dividend accounts to retained earnings.
3) Real and nominal accounts are closed in the accounting cycle to determine net income and retained earnings for the period.
The document provides information about accounting principles and accounting information systems. It discusses the principles of an efficient and effective accounting information system, including that the system must be relevant, reliable, accurate, and timely. It also discusses the phases in developing an accounting system, including planning, design, implementation, and follow up. Finally, it provides examples of journals used in accounting information systems, including sales journals, cash receipts journals, purchases journals, and cash payments journals.
The document discusses current issues in international accounting including differences between countries' accounting standards, efforts toward harmonization, and convergence of standards. It notes that historically accounting grew independently in different countries, resulting in considerable differences. Major factors influencing these differences include a country's legal system, taxation practices, capital providers, culture, and historical events. International organizations are working to reduce differences and increase comparability through harmonization and convergence. Critics argue convergence has limitations and may not suit all countries.
The Bachelor of Science in Business Administration (BSBA) program provides students with business operations knowledge and critical decision-making skills needed for strategic executive roles in global business. The program focuses on developing analytical, interpersonal, decision-making, communication, and mathematical skills. Students can specialize in areas such as management accounting, entrepreneurship, marketing, financial management, economics, business management, and human resource development management.
Eleven Palms is a 17-room boutique hotel in Benzie County, Michigan that will fill the niche between high-end hotels and motels by offering moderately priced accommodations. The owners will renovate an existing property and focus on providing a relaxing environment for couples through amenities like indoor and outdoor pools. Marketing will target both new and returning visitors to the area through partnerships with local businesses and an emphasis on word-of-mouth referrals. Pricing for rooms and drinks at the on-site lounge will be competitive while still allowing for a profit.
Tax planning in business bangladesh perspective by swapan kumar bala ssrn-id9...Rahmat Ullah
This document discusses tax planning for businesses in Bangladesh. It begins by defining key terms like tax, planning, and business. It then discusses the different types of business entities in Bangladesh (sole proprietorships, partnerships, companies) and their tax treatment. Specifically, it notes that sole proprietorships and partnerships are "pass-through" entities where the owner/partners pay tax on business income, while companies are taxed separately as entities. The document also distinguishes between tax evasion, avoidance, and planning, noting that tax planning uses legal means to maximize after-tax returns while ensuring tax compliance.
Business plan for " A CHILDCARE CENTER IN PESHAWAR"diaryinc
Business plan for " A CHILDCARE CENTER IN PESHAWAR" FULL PLAN WITH DETAIL OF FINANCIAL STATEMENT AND THE MARKETING, MANAGERIAL STRATEGIES REQUIRE FOR THE PLAN.
This document provides an introduction to the topic of financial management. It defines what business finance entails and discusses the three main questions it aims to address: 1) what long-term investments a business should take on, 2) where to get long-term financing to pay for investments, and 3) how to manage everyday financial activities. The document then outlines some key classifications and definitions in finance, discusses the objectives and areas of finance, and provides an overview of the roles and decisions involved in financial management.
Khaled Mohamed Sadeky El-Rashidy is a financial manager with over 7 years of experience in accounting. He has a bachelor's degree in accounting and certifications in management accounting and English proficiency. El-Rashidy has extensive experience implementing and managing Oracle financial systems and working with banks. He is currently seeking a managerial position that allows him to utilize his skills in financial planning, analysis, budgeting, and team leadership.
This document contains information about an MBA program session from July/August 2021, including course details and student responses to assignments. The assignments include discussing 5 accounting concepts with examples, preparing a trading account, and distinguishing between management accounting and financial accounting. It also includes the balance sheet of a company and calculations of debt-equity and proprietary ratios based on the information provided. The purpose of a cash flow statement is to analyze changes in a company's cash position and the sources and uses of cash. Examples of cash flows include receipts from customers and payments to suppliers for operating activities.
This document discusses key financial statements including the balance sheet, income statement, and statement of cash flows. It provides examples of each statement for a sample company in 2002 and 2001. The balance sheet shows a company's assets, liabilities, and equity at a point in time. The income statement summarizes revenues and expenses over a period of time. The statement of cash flows reports how a company's activities affected cash flow over a given period.
Flexible Budgets and Performance Analysis chap 9 slides 17e.pptxSurakshaSachdev
This document provides an overview of flexible budgets and performance analysis. It discusses the variance analysis cycle and how flexible budgets improve performance evaluation by enabling more accurate comparisons. The document outlines how to prepare a flexible budget, identify deficiencies in static planning budgets, and calculate activity, revenue, and spending variances. It also shows how to create a performance report combining these variances. The document demonstrates these concepts using an example of a hairstyling salon. It notes how flexible budgets can incorporate multiple cost drivers and discusses applying these techniques to non-profit organizations and cost centers.
The impact of working capital management on firm profitability in different b...Rifat Humayun
This paper investigates the effect of the business cycle on the link between working capital, the difference between current assets and current liabilities, and corporate performance.
Efficient working capital management is recognized as an important aspect of financial management practices in all organizational forms.
In acknowledgement of this importance, the CFO Magazine publishes an annual study of corporate working capital management performance in many countries.
Cash and cash equivalents include cash on hand, bank deposits, and highly liquid short-term investments that can be converted to cash within three months. Cash is recorded at face value and presented as a line item on the balance sheet, with details disclosed in notes. Cash equivalents are short-term, highly liquid investments acquired close to maturity. Excess cash may be invested long-term if over one year, or short-term if under one year. Adjusting entries are needed for unreleased, postdated, and stale checks as well as cash shortages or overages.
Basics of Accounting. Principles and concepts of Accounting
what is Double Entry System of Accounting?what Financial Statements?
Accounting is a process of identifying, recording, summarising and reporting economic information
to decision makers in the form of financial statements.
This document provides information about an accounting internship. It defines accounting as identifying, measuring, and communicating financial information about an entity. The course objective is to familiarize students with academic and career opportunities in accounting. The internship is 2.5 months long, 272 hours spent at a company with a maximum of 3 students. Students will develop skills in time management, accounting software, communication, problem solving, and understanding accounting rules and procedures. Pros are hands-on experience and working with different teams, while cons are interns are not equal staff and may do menial tasks instead of practicing their specialty.
Muhammad Mohsin Sardar is seeking a position in audit, accounts, or finance with over 4 years of experience in those areas. He has a BSc in accounting from Oxford Brookes University in the UK and is a finalist in the ACCA program. His experience includes positions as an accounts and finance manager, accounts officer, accountant, and audit executive. He has strong skills in accounting systems, analysis, problem-solving, and meeting deadlines.
This document is a resume for Muhammad Mohsin Sardar, seeking a position in audit, accounts, or finance. It summarizes his professional qualifications including over 4 years of experience in accounts and finance in Pakistan. He is professionally Part Qualified ACCA along with a BSc in Accounting from the UK. His skills include proficiency in accounting systems, analytical and problem solving abilities, and being detail-oriented. His employment history includes positions as an Accounts and Finance Manager, Accounts Officer, and Audit Executive. His responsibilities have involved financial reporting, accounting, auditing, payroll, and more. He is seeking a new position immediately and is available to join.
http://accountinghomeworkrescue.com/accounting-the-evolution-of
There are many functions of both the idea of accounting and accountants in general. The need for bookkeeping and records, as well as keeping numbers is both an organizational tool that is used by many, as well as a framework for an entire business model. In order for a business to thrive and progress, it needs to have a strong sense of bookkeeping properties, which incorporates accounting greatly. Even in households, there is a large need for a type of accounting practice. The numbers of every bill and purchased item needs to be accounted for in one way or another to prevent a debt or loss of money. This idea of organization and checks and balances is what keeps bookkeeping and accounting so relevant today. Check out the above link for accounting homework help.
SIDDHESWAR CO-OPERATIVE BANK LTD, BIJAPUR arun savukar
The document provides information about cooperative societies and Siddheswar Cooperative Bank Ltd in Bijapur. It discusses that cooperative societies are voluntary associations formed to benefit members through mutual assistance. Siddheswar Cooperative Bank Ltd was established in 1912 to provide financial services to poor and middle class individuals. The document outlines the key features of cooperative societies, how they are established and registered, their administration, types of cooperative societies, and components of working capital for businesses.
This document provides an introduction to the concepts of accounting. It defines accounting as a system that collects and processes financial information to allow informed decisions by users. It discusses the need for accounting to determine results of business transactions and the financial position. It outlines the key functions of accounting like identifying, recording, classifying, summarizing, analyzing, interpreting and communicating financial information. It also discusses the accounting cycle and different branches and users of accounting information. Finally, it provides definitions of some basic accounting terms.
Nazuk - Senior Accountant Resume with 10 yrs of UAE expNazuk Usman
This document provides a summary of Nazuk Usman's qualifications and experience. It summarizes her as a self-motivated accounting professional with over 10 years of experience in the UAE in accounts receivable, payable, financial and managerial accounting. She has a Master's in Business Administration specialized in Finance and a Bachelor's in Commerce specialized in Accountancy, Mathematics and Economics. Her most recent role was as a Senior Accountant at Huawei Tech UAE FZ LLC from 2006 to 2016 where she managed accounting operations and reconciliations.
Stu Ch04 Completing The Accounting Cycleguest441011
1) The document describes the accounting cycle and accrual accounting. It explains adjusting entries for unrecorded receivables, liabilities, prepared expenses, and unearned revenues.
2) The accounting cycle includes preparing financial statements and notes, and the closing process of closing revenue, expense, and dividend accounts to retained earnings.
3) Real and nominal accounts are closed in the accounting cycle to determine net income and retained earnings for the period.
The document provides information about accounting principles and accounting information systems. It discusses the principles of an efficient and effective accounting information system, including that the system must be relevant, reliable, accurate, and timely. It also discusses the phases in developing an accounting system, including planning, design, implementation, and follow up. Finally, it provides examples of journals used in accounting information systems, including sales journals, cash receipts journals, purchases journals, and cash payments journals.
The document discusses current issues in international accounting including differences between countries' accounting standards, efforts toward harmonization, and convergence of standards. It notes that historically accounting grew independently in different countries, resulting in considerable differences. Major factors influencing these differences include a country's legal system, taxation practices, capital providers, culture, and historical events. International organizations are working to reduce differences and increase comparability through harmonization and convergence. Critics argue convergence has limitations and may not suit all countries.
The Bachelor of Science in Business Administration (BSBA) program provides students with business operations knowledge and critical decision-making skills needed for strategic executive roles in global business. The program focuses on developing analytical, interpersonal, decision-making, communication, and mathematical skills. Students can specialize in areas such as management accounting, entrepreneurship, marketing, financial management, economics, business management, and human resource development management.
Eleven Palms is a 17-room boutique hotel in Benzie County, Michigan that will fill the niche between high-end hotels and motels by offering moderately priced accommodations. The owners will renovate an existing property and focus on providing a relaxing environment for couples through amenities like indoor and outdoor pools. Marketing will target both new and returning visitors to the area through partnerships with local businesses and an emphasis on word-of-mouth referrals. Pricing for rooms and drinks at the on-site lounge will be competitive while still allowing for a profit.
Tax planning in business bangladesh perspective by swapan kumar bala ssrn-id9...Rahmat Ullah
This document discusses tax planning for businesses in Bangladesh. It begins by defining key terms like tax, planning, and business. It then discusses the different types of business entities in Bangladesh (sole proprietorships, partnerships, companies) and their tax treatment. Specifically, it notes that sole proprietorships and partnerships are "pass-through" entities where the owner/partners pay tax on business income, while companies are taxed separately as entities. The document also distinguishes between tax evasion, avoidance, and planning, noting that tax planning uses legal means to maximize after-tax returns while ensuring tax compliance.
Business plan for " A CHILDCARE CENTER IN PESHAWAR"diaryinc
Business plan for " A CHILDCARE CENTER IN PESHAWAR" FULL PLAN WITH DETAIL OF FINANCIAL STATEMENT AND THE MARKETING, MANAGERIAL STRATEGIES REQUIRE FOR THE PLAN.
DRMG is looking for a new transcription system to replace their legacy system. They are considering Commissure, a young company that offers an integrated speech recognition, reporting, and workflow system called RadWhere. RadWhere uses Dragon medical speech recognition and can integrate with many RIS and PACS systems. It could streamline transcription, reduce costs by eliminating transcription positions, and increase productivity. An analysis shows the system would pay for itself within 10 months and continue to save money in subsequent years. DRMG believes Commissure meets their requirements and would allow them to grow with changing technologies.
This document provides an overview of Shaila Enterprises, a sole proprietorship stationery and printing business. The business sells stationery items and provides printing, photocopying, and spiral binding services. It has an initial capital of Rs. 500,000 and is located near colleges in Electronic City. The business aims to earn profits to expand its product stock and number of outlets. Financial projections estimate sales of Rs. 650,000, Rs. 750,000 and Rs. 900,000 over the first three years with corresponding gross profits of Rs. 145,000, Rs. 197,000 and Rs. 245,000.
The document summarizes information about two stationary shops in Malaysia - Vision Art and Saujana Stationery & Sport Centre.
Vision Art is a family-run art materials shop that has been operating for 25 years in Bandar Sunway, Selangor. It has 10-15 employees and earns a profit of around RM100,000 yearly primarily from students. Saujana Stationery is a 19-year old family-run shop in Jerantut, Pahang that sells basic stationery and sports gear with 2-3 employees. While both shops are small-scale and earn similar profits, Vision Art focuses on art materials and specialized services while Saujana Stationery provides general stationery and printing
(1) The document outlines a business plan for "The Stationery Shop", a sole proprietorship stationery store to be opened in Peshawar, Pakistan. (2) The shop will sell stationery supplies like paper, books, pens as well as offer printing, scanning and photo copying services. (3) The target market segments are students from local schools and colleges as well as office workers, and the shop aims to meet the needs of the local community by being the only stationery option in the nearby area.
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Accounting Essay
Essay- Accounting as a Profession
Luca Paciollis Accounting System
Accrual Basis Accounting Essay example
Accounting as a Professional School Essay
Financial Accounting Essay
Accounting Essay
Reflection Paper In Accounting
The Fundamentals Of Financial Accounting
Accounting Essay
Persuasive Essay On Forensic Accounting
Bank Accounting Essay
Reflection Paper Accounting
Accounting
My Professional Field Is Accounting Essay
Issues in Accounting Essay example
Accounting Essay
What Is An Accountant? Essay
accounting information and decision makingfarhana rahman
This chapter provides an overview of the exercises, cases, and internet assignments in the textbook. It includes:
1) Descriptions of 15 exercises that cover topics such as users of accounting information, financial reporting, accounting principles, and accounting terminology.
2) Descriptions of 5 cases that explore topics like the reliability of financial statements and accounting systems. The estimated completion times and difficulty levels are provided.
3) A description of an internet assignment directing students to access accounting information on the Rutgers University website.
The document concludes with sample answers to 40 discussion questions that correspond to the chapter material. The questions cover accounting concepts and help students develop communication skills.
This document provides an overview of brief learning exercises, full exercises, cases, and critical thinking cases covered in Chapter 1 of an accounting textbook. The exercises cover topics such as users of accounting information, components of internal control, accounting standards, and ethics. They are designed to help students develop skills like analysis, judgment, research, and communication. The cases provide real world examples and assessments of topics like reliability of financial statements and codes of ethics. Estimated completion times and difficulty levels are provided for each case.
The document is a report analyzing the financial statements of Renata Limited. It provides an overview of the company's history and chronology. It then outlines the methodology used to analyze Renata Limited's financial statements, which included collecting primary data through interviews and secondary data from annual reports and the company's website. The report analyzes Renata Limited's balance sheet, income statement, statement of changes in equity, and cash flow statement. It also performs ratio analysis to understand the company's liquidity, profitability, and solvency.
Accounting professional judgment involves handling accounting events and compiling financial reports according to regulations and standards. However, professional judgment is sometimes manipulated to distort accounting information. The document discusses three ways manipulation occurs: 1) abandoning accounting principles, 2) optional changes to accounting policies, and 3) abuse of accounting estimates. The causes of manipulation include distorted motivations from corporate governance issues and catering to various stakeholder interests. Strengthening supervision and improving the accounting system are proposed to manage manipulation of professional judgment.
The document provides an introduction to accounting concepts. It discusses:
1. Luca Pacioli is considered the "Father of accounting" for publishing one of the earliest works describing the double-entry accounting system in 1494.
2. Accounting identifies, records, and communicates the economic events of an organization to interested users such as management, investors, creditors, and regulators. It involves identifying, recording, classifying, summarizing, and reporting transactions.
3. The key financial statements produced by accounting are the income statement, statement of owner's equity, balance sheet, and statement of cash flows. Standards like GAAP and IFRS provide guidelines on accounting principles and financial reporting.
The document discusses the importance of proper financial management for AIESEC. It outlines nine key processes that are important for financial management: budgeting and cash flow, internal financial policies, reserves management, restricted funds, investments, fundraising, bookkeeping, legal management, and auditing. It also discusses the need for an organizational structure to support these financial processes and the importance of reporting financial performance and results.
The document discusses the importance of proper financial management for AIESEC. It outlines nine key processes that are important for financial management: budgeting and cash flow, internal financial policies, reserves management, restricted funds, investments, fundraising, bookkeeping, legal management, and auditing. It also discusses the need for an organizational structure to support these financial processes and the importance of reporting financial performance and results.
This document is a project report submitted by Abhishek Shivhare for their Bachelor's degree in Business Administration. It details their internship work with Learnovate Ecommerce, an online marketplace for buying and selling pre-owned and new books. The report includes sections on the company information, objectives of the study, research methodology used, finance duties and responsibilities, tasks completed during the internship, and conclusions from the experience.
Writing An Proposal. Online assignment writing service.Carmen Martin
The story uses symbols like the Devil's staff to represent temptation and the loss of innocence. When Goodman Brown takes the staff to quicken his journey into the forest to meet the Devil, it symbolizes him giving into temptation and losing his innocence. Through this and other symbols, Hawthorne shows that even people of strong faith will eventually encounter doubts and moral failings that undermine their innocence.
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Sole proprietors’ perception towards accounting records
1. DEPARTMENT OF ACCOUNTING
Faculty of Business Administration and Management
Patuakhali Science and Technology University
Dumki, Patuakhali – 8602.
November 26, 2009
Md. Zakir Hosen
Assistant Professor
Department of Accounting and Information System
Faculty of Business Administration and Management
Patuakhali Science and Technology University
Subject: Transmittal of the report on “Sole proprietors’ perception towards accounting records”
Dear Sir,
It’s been a pleasure for us to submit here with our dissertation, which has been prepared under
the smart and dynamic leadership of a personality like you.
This report is a very important part for our study. If we analyze the financial statement of a sole
proprietorship we must gather new terminology and some new implementation of Accounting.
In completing the report we have tried our level best in imparting every available details of the
organization avoiding unnecessary amplification of the report.
With best regards,
Sincerely Yours;
(Md. Shahinuzzaman)
Leader (Group- Vigilance)
Student of Business Administration and Management
2. Acknowledgement
First we want to give thanks of almighty,
With profound regard we gratefully acknowledge our respected teacher Md. Zakir Hosen,
Assistant Professor, Department of Accounting and Information System, Faculty of Business
Administration and Management, Patuakhali Science and Technology University for his
generous help and day to day suggestion during the survey.
We like to give thanks especially to our friends & many individuals, for their enthusiastic
encouragements and helps during the preparation of this report.
We also available the opportunity to express our thanks and cordial esteem to the owners who
are very cordially give answer us.
3. s
Sl. No. Subject Page no.
1. Executive Summary 1
2. Executive Summary 2
3. Objective of the report 3
4. The limitation of the study 4
5. Methodology 5
6. Accounting process 6
7. Questionnaires 7
8. Section 1 information about entrepreneur 8
9. Section; 2 information about enterprise 9
10. Section; 3.1/3.2 accounting system 10-12
11. Section; 3.3 sales record 13-14
12. Section; 3.4 Expense record 15
13. Section; 3.5 Presentation of financial statement 16
14. Findings of the Report 17
15. Recommendations 18
16. Conclusion 19
17. References 20
4. Reports on
Sole proprietors perception
towards accounting records
Date of Submitted 10 may, 2009
Patuakhali Science and Technology University,Dumki-8602
5. Submitted to:
Md. Zakir Hosen
Assistant Professor, Department of Accounting &
Information System
Patuakhali Science and Technology University
Dumki, Patuakhali.
Submitted by:
Group Leader: Md. Shahinuzzaman
(Vigilance)
(Level-I, Semester-I)
BBA Program
Faculty of B.A.M
Patuakhali Science and Technology University
6. 1
Executive Summary
Accounting is the lifeblood of an organization. No organization can be imagined without it. It is
something that affects people in their personal life, just as much as it affects large organization
and also small organization. We all use accounting ideas when we plan what are we going to do
with our money and we have to plan how much of it we will spend and how much we will save.
All these are possible by accounting. It is a part and parcel tool of an organization. It helps the
management about the financial condition and to provide necessary information. No organization
can exit today’s comparative business world without accounting. In case of sole proprietorship
business accounting is also used. The business organization in which a single person owns,
manages and controls all the activities of the business is known as sole proprietorship from of
business organization. Here in this report we have emphasized on the accounting practice of sole
proprietorship. This report highlights the different steps of accounting practice of sole
proprietorship. Systematic way that company uses and this report gives us the chance to compare
our academic knowledge with practical field. As a result we have selected some sole
proprietorship business, which helps us to acquire our practical knowledge on communication
systems in our practical life.
7. 2
Introduction
A sole proprietorship is a one-person business that is not registered with the state as a
corporation or a limited liability company (LLC).Sole proprietorships are so easy to set up and
maintain that you may already own one without knowing it. For instance, if you are a freelance
photographer or writer, a craftsperson who takes jobs on a contract basis, a salesperson who
receives only commissions, or an independent contractor who isn't on an employer's regular
payroll, you are automatically a sole proprietor. However, even though a sole proprietorship is
the simplest of business structures, you shouldn't fall asleep at the wheel. You may have to
comply with local registration, business license, or permit laws to make your business legitimate.
And you should look sharp when it comes to tending your business, because you are personally
responsible for paying both income taxes and business debts. A sole proprietor may do business
with a trade name other than his or her legal name. In some jurisdictions, the sole proprietor is
required to register the trade name or "Doing Business As" with a government agency. This also
allows the proprietor to open a business account with banking institutions
8. 3
Objective of the report:
As business executive of future, we should need to gather knowledge on Macroeconomics. We
should not concern our lesson only in classroom but to implement it in practically that will help
us in our future life. A clear objective helps to prepare a well-decorated term paper in which
others take the right type of decision. Similarly our honorable course teacher Md. Jakir Hosen
gives us an assignment. The main purpose of the report is to know the recording process or
accounting system of sole-proprietorship business surrounding Borishal city. Although, it is
seems to be very difficult to get our needed information from these sole-proprietorship
businessman of Borishal, because most of the sole-proprietorship do keep accounting
information or keep business record as we need however we try out best to get our essential
information to fill the objective of the report. And to reach or to achieve desired goal; the main
objective of the repot are following
a) To know about sole-proprietorship business.
b) To know about the entrepreneur.
c) To know about accounting system or recording process of sole-proprietorship business
d) To know the present condition of sole-proprietorship business surrounding Borisal.
e) To enrich knowledge about its accounting system.
Among all adjective of this report the main object is to know the accounting record of sole-
proprietorship business and tried our best to touch the every objective and to reach at our desired
point.
9. 4
The limitation of the study
No work on the world is complete without limitations. The study we made hane some
limitations. In spite of having some limitation we all have tried our best to fulfill our report. In
preparing the report the limitation we found are as follows—
i) The scope of surveying shop was limited.
ii) In some cases they are not willing enough to give information.
iii) Exact information may not be got from the survey.
iv) There existed shortage of time because of the pressure of examination.
v) They try to maintain their secrecy about their business.
vi) As we made the survey informally and without making the businessman pre inform.
So they had time consideration.
vii) Their given information did not match our questions properly.
10. 5
Methodology
It is very much relevant that a partial job is done by following proper methods. As we tried to
make a rational report we have followed the proper methods to perform our job. Every study is
done on the basis of primary data and secondary data. Our presented report is related with
primary data because for making this report we have familiar with field survey. Basically, we
have tried to make this report by following the information we have collected through field
survey.
Some specific steps have been taken by us to prepare this report. At first we have planned about
the overall study. We were given ten different schools to observe the present situation .We have
collected data from all the given institutes. Then we have analyzed these data by group working.
After that we have tried to make a report on present situation of those organizations. Here the
process is given below:
Figure: The reporting process
Planning
Analyzing DataReporting
Collecting Data
Questioning
11. 6
Accounting process:
The accounting steps that recur each accounting period in the life of a business and that begin
with recording of transactions and produced through posting the recorded amounts, preparing a
trial balance, preparing a work sheet, preparing financial statements, preparing and posting
adjusting and closing entries, and preparing a post closing trial balance is known as accounting
cycle. The accounting cycle can be shown as follows:
Figure: accounting process
Identification
Journalization
Posting to ledger
Worksheet*
Financial
Preparation of trial
Closing entries
Adjusting entries
Reversing entries*
Post closing trial
12. 7
Questionnaires:
Questionnaires are very useful part for making a report. Single set of questionnaire was used to
collect information for study. Every attempts was made to make the questionnaire all-inclusive I
e, all possible answers were given in the questionnaire.
In section number 1at this section provides information about proprietors. At this section
mention different types of question about only proprietors e.g., name of the proprietors,
educational level of proprietors, background of study, origin of the organization, tax
identification number, value added tax and also asked a question e.g. Do you think accounting
record is important for your business? All the proprietors answer promptly yes.
In section 2 at this section provide information about enterprise. At this section asked different
types of questions to proprietors about their enterprise such as nature of business, trade license,
sources of capital, operating year of the business, and last on is number of employees.
In section 3 is related to accounting system for their business. At 3.1asked different types of
general questions which is related for their business such as have any books of account, how they
keep records, in which process maintain accounting, do their organization have any written
accounting policies and procedures, have any proper documents for support transaction, and
which book they maintain.
At stage 3.2 asked questions for their inventory record such as do they keep any purchase record,
do they maintain inventory record, how do they order to purchase inventory, and how do they
prevent theft of inventory.
At stage 3.3 asked question about their sales record such as, do they keep any sales record, how
do they prevent theft of cash.
At stage 3.4 asked different types of questions about their expense record such as, do they
maintain expense record, do they maintain depreciation charge on assets, are they salaries
expense recorded, when they takes anything from the business for personal use, then is it
recorded separately, are they recorded transportation expense daily, are they recorded
entertainment expense daily.
13. 8
Section 1 information about entrepreneur
Figure: survey report about entrepreneur
All the above information is collected by our group members who provide only proprietors.
While collecting data the owner say that they are very much conscious about their business. Most
of them marginal educated and are commerce background. So when we asked them do you think
accounting is very much important for your business? All the proprietors answers without delay
that accounting process maintain is very essential part for their business. Soles proprietors
owners maintain their accounting process informally. Although they record all the accounting
process informally but it is related to the accounting process.
Name of the
businessman
Name of
the
business
Educational
qualification
Background
of education
Origin of
business
Importance
of
accounting
tax
Sukumar saha MS
monindra
lal saha
store
B.Com Commerce Self
started
Yes yes
Mohebullah(Sobuj) Murali
Store
Others Madrasa Self
started
Yes No
Swapan Saha Trenath
Vandar
SSC Commerce Self
started
Yes Yes
Somvonath Saha Joykali
Vandar
HSC science Inherited Yes Yes
Sisir Bonik Ms. Kartik
Bonik
SSC Science Inherited Yes Yes
Moslem Howlader Sahin flour
mill
Below SSC Arts Inherited Yes Yes
14. 9
Section; 2 information about enterprise
Name of the
owner
Name of the
organization
Nature Trade
license
capital Running
year
employee
Suvonath
Saha
Joy Kale
Vander
Merchandising yes Both self
and lone
Less 10 3-4
Sukumar
Saha
Ms.
Monindra
Lal Saha
store
Merchandising yes Both self
and lone
50year 4-5
Mobullah(
Sobuj)
Murali store Merchandising yes Both self
and lone
25yerar 4-5
Sopon Saha Trenath
Vander
Merchandising yes Both self
and lone
20year 1-2
Shisir
Bonik
Ms. Cartik
Bonik
Merchandising yes Self 20year 1-2
Moslem
Howladar
Sahin flour
mill
Merchandising No others Less 3 year others
Figure: survey information about enterprise
A sole-proprietorship business or enterprise have some separate models or activities those are
separate than other business. Our mentioned nine sole-proprietorship organization shows that
each has their separate accounting process. As for example we say that some doesn’t have trade
silence and the capital formation capacity are vary from sole-proprietorship to sole-
proprietorship. Maximum organization collects capital as their chosen way and gets enough. The
organization running year is different form sole-proprietorship to sole-proprietorship. Even the
number of employee in the organization is varied and after all the whole operating system is
varying organization to organization.
15. 10
Section; 3.1/3.2 accounting system
Accounting system is a process by which one organization recorded his all transactional report
and prepared organizational report. Every organizational activities and its success depend on
proper recording system that means proper accounting system. And one organization recorded its
financial terms into two types of recording way.
a) General record.
b) Inventory record
And if we want to know about an organization properly or specifically then we have to know
accounting system of that organization. For these reason when we visited completed our survey
on sole proprietorship business, we asked about the organizational accounting system. Basically
we gave extra priority on its recording process. Do they keep any record or not? Types of
recording process, do they keep any purchase or sales record; does it/ do they follow proper
recording procedure or not, do they keep voucher invoice, GL, or different types of inventory
etc. these every information are differ from one organizational to another that shown in bellow as
a box to imagine about those organization at a glance.
Name
Of the Business
Name of
the
Enterprise
Books for
Accounting
Records
System
Describing
Accounting
Written
Policy
Proper
Document
Voucher,
Invoices
and
Time
Sheets
Shisir Bank No Informal Manual No No yes
Shukumar Shaha yes Informal Manual No No yes
Shomvonath
Shaha
yes Informal Manual No No No
Swapon Shaha yes Formal Manual yes No yes
Su-Shanto Shaha yes Informal Manual No No No
Moslem Houlader yes Informal Manual No No yes
Mohibulla yes Informal Manual No yes No
16. 11
Name
Of the
Business
Name
of the
Enterp
rise
GL Establishm
ent cost
Cash
receive
journal
A/R
journal
A/P
journal
Sales
journal
Purchase
journal
Shisir Bank No yes No yes No No No
Shukumar
Shaha
No No No yes yes yes yes
Shomvonath
Shaha
No No No No No No No
Swapon
Shaha
yes No yes yes yes No yes
Su-Shanto
Shaha
No yes yes yes yes yes yes
Moslem
Houlader
No yes yes yes yes yes yes
Mohibulla
Name
Of the Business
Name of the
Enterprise
Purchase
Record
Inventory Record Purchase
Inventory
Shisir Bank yes yes On the Basis of
Record
Keeping
Shukumar Shaha yes yes On the Basis
Counting
Shomvonath Shaha No No On the Basis
Counting
Swapon Shaha yes yes On the Basis of
Record
Keeping
Su-Shanto Shaha yes yes On the Basis
Counting
Moslem Houlader yes yes On the Basis
Counting
17. 12
And, at the ending period of this section, we want to mention here that most of the organization
has not proper or formal procedure to prevent theft or inventory. But they mention some system
which they take to prevent theft of inventory as following.
a) By proper viewing the business
b) By taking extra care.
c) By depending on the basis inventory record.
d) By recording transaction
e) And depend on personal imagination.
18. 13
Section; 3.3 sales record
Figure: survey report about sales record
We all know that the main purpose of sole proprietorship businessman is to achieve profit. If
anyone want to achieve profit he must sells his product. If he wants to find out his profit properly
he must record the sale of products.
For sole proprietorship business; the question no 3.3 or analysis of sales record, it implies that in
Barisal’s most of the sole proprietorship business does not maintain sales record and some of the
sole proprietorship business maintain sales record. The organization which does not maintain
sales record, it does not take any formalities to prevent theft of cash. When we survey these
business organizations we saw that most of the business owners handle their cash box. They
were ensured us that although they are maintain the cash by him so there is no way of theft.
Name of the
Organizations
Name of the
Proprietors
Maintain
Sales
Record?
Way of prevent theft
of cash
Way of determine
sales revenue (if
does not keep
sales record)
01. Sahin Flower Mill Moslem Howlader Yes By closing daily
transaction
……………………..
……………………..
02. M/S Monindra Lal
Saha Stores
Sukumur Saha Yes He keeps daily sales
record in his sales
book. And also
identify the dailies
cash with his sales
book.
……………………..
……………………..
03. Trenath Vander Swapon Saha No Do not take any
formalities
On the basis of idea
04. Joy Kale Vander Somvo Nath Shaha No Owner maintain the
cash
On the basis of
dailies cash.
05. M/S Kartik Bonik Shisir Bonik Yes No formal step ……………………..
……………………..
06.Mohebullah Sobuj Murali Stores Yes He keeps his daily
sales record and
maintain cash by
himself
……………………..
……………………..
19. 14
On the other hand, the organization which maintains sales record, it must follow some rules that
prevent the cash theft. These are discuss below—
a. By closing daily transaction
b. keeps daily sales record in sales book and also identifies the dailies cash with sales book.
. c. Maintaining the cash by own self.
All the above discussion we can analyze that the organization which maintain the daily sales
record in his daily sales book get or achieve more profit than the another
20. 15
Section; 3.4 Expense record
Figure: survey report about expense record
For recommendation, the questionnaire was given to top grocery shop. Our main target was those
who had enough knowledge in maintaining accounting system in his business. As the field of
study was limited within the Barisal city, it was decided that the information would be collected
by direct interviews. Nine interviewers having sufficient knowledge about these topics through
their course AIS were appointed to collect the information. The survey was conducted at April
30, 2009. Question was hand delivered to the owner or manager of the organization. All the day
the key terms were made clarified to the respondents. Interviewers were instructed to go on the
following day. Further clarification was made where needed and finally questionnaire was
collected. The data were analyzed by using the mean, median, mode and standard deviation.
Name of
the owner
Name of the
organization
Maintain
expense
record
Depreciation
charge on
assets
periodically
Salary
expense
record
Personal
expense
record
separately
Transportation
expense
record daily
Entertainment
cost record
daily
Suvonath
Saha
Joy Kale
Vander
Yes Don’t have
any
depreciation
charge
system on
assets
Yes Yes Yes No
Sukumar
Saha
Ms.
Monindra
Lal Saha
store
Yes No Yes No No No
Mobullah(
Sobuj)
Murali store Yes No Yes No No No
Sopon
Saha
Trenath
Vander
Yes No Yes No Yes No
Shisir
Bonik
Ms. Cartik
Bonik
Yes No Yes No No No
Moslem
Howladar
Sahin flour
mill
Yes Yes Yes Yes Yes Yes
21. 16
Section; 3.5 Presentation of financial statement
Name of
the owner
Name of the
organization
prepare often Comply
with bank
Owners
equity
Balance
sheet
Income
statement
Suvonath
Saha
Joy Kale
Vander
yes yearly not yes no yes
Sukumar
Saha
Ms.
Monindra
Lal Saha
store
yes yearly not yes yes yes
Mobullah(
Sobuj)
Murali store yes yearly not yes yes yes
Sopon
Saha
Trenath
Vander
no yearly no no no
Figure: survey information about financial statement
Every sole-proprietorship organization must need to maintain financial statement, for not only
his own record but also to maintain his accounting cycle and show the organization current and
previous economic position. We see the organization is frequently unaware about keeping
financial statement and they are unaware about the current financial position. For receiving loan
form bank and other financial organization, financial statement is needed for every sole-
proprietorship organization. On the other hand we observed that every sole-proprietorship keep
record as their own way by this they may able to keep his financial record but this uncompleted
record are unable to make financial statement and owners equity statement and income statement
22. 17
Findings of the Report:
Every study which is conducted has some findings which are very interesting implications of the
study. So, our present study conducted on “Sole proprietors towards accounting records” has also
some interesting implications which are as follows:
Sole proprietor maintains manual and old system for reporting financial statements to
interested parties.
Sole proprietor follows no rules for preparing income statement.
They follow no method to record to charges depreciation for their plant assets.
Sole proprietor four statements, (about)
1. Profit and Loss Account.
2. Balance Sheet.
3. Statement of Changes in Equity.
4. Balance Sheet
In the year of 2007 the Sole proprietor has been able to earn enough profit without or
very little accounting process.
The Sole proprietor has been able to emerge business largely in maintaining this
recording system but they understand the lacking of accounting system.
23. 18
Recommendations:
After completing the report on “Sole proprietors towards accounting record” we are in position
to recommend the following implications-
They should not use accounting methods for preparing their financial statement and other
documents. Most of them are unaware about the accounting process for measuring
financial position.
The accounting system namely income statement, balance sheet, owners equity
statement, are much unknown to them but subconsciously they maintain this.
Most of the businessman is continuing business more than twenty years, for this
accounting is needed for the businessman but that is unknown to them.
The necessarily omits many items that are of financial value to the businesses but cannot be
recorded objectively. So, should give proper concern to make financial reports that the report
should include all necessary information.
24. 19
Conclusion
Sole proprietor business maintains very weak and uncompleted financial report for
maintaining accounting process. Also keep his financial record very subconsciously. By
watching their financial statement it is very tough to determine something but they can easily
keep and understand all the records. We have operated our study on their organization to
know how they maintain their accounting record and we say that our motto is completely
success as we hope. We prepare our report as a man can get enough idea about the sole
proprietorship organization by reading our report.
25. 20
References:
Information given by the sole proprietor’s owner in Barisal’s glossary sops.
Term paper format given our course teacher ZAKIR HOSEN sir.
Jerry J. Weygandt, Donald E. Kieso, & Paul D. Cimmel, Accounting Principles, John
Wiley & Sons, Inc, 7th
Edition.
Jerry J. Weygandt, Donald E. Kieso, & Paul D. Cimmel, Intermediate Accounting, John
Wiley & Sons, Inc, 11th
Edition.
Roger H. BHermanson, James Don Edwards, & Michale W. Maher, Accounting
Principles, Irwin, 5th
Edition.