Question

Basics of Accounting concept,
preperation & Presentation of
financial
statements Analysis
of financial statements give
the
answer
25,000 worlds​

Answer 1

Basics of Accounting concept:

The transactions that can be recorded in the form of money are only recorded in the books of business. For example, suppose there's a a fight between sales manager and production manager, workers of a factory went on strike etc won't be recorded in the books of business. Whereas, transactions like bought furniture on credit, Goods sold on cash etc would be recorded.

Preperation & Presentation of financial:

Every monetary transaction is recorded in the books of business. It is a first recorded in vouchers with the help of evidence called source document.

Afterwards, all the transactions are shifted to a journal (in case of small business) or subsidiary books (in case of large business). Example of Journal/subsidiary books are cash book, sales return book.

Then, all the transactions are recorded in ledger. A leisure it is a book in which various accounts such as wages account/advertisement account are open the related to specified person/entity.

Analysis of financial statements

At last,all the transactions are added up and final accounts are prepared with the help of trial balance which includes profit and loss account and balance sheet.

The results adn displayed to the parties interested in the building is such as owner, management, government agencies etc.

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Answer 2

Answer:

Basics of Accounting concept,

preperation & Presentation of

financial

statements Analysis

of financial statements give

the

answer

25,000 worlds