Question

Select any of the business (owner of any business) of your choice and try to know about the
complete process of their income and expenses and other related things such as their
accounting process, investment, who records the transactions, payment they made to, and
receiving's they get when they prepare their final accounts, who prepares their final accounts
and how accounting helps them in taking futuristic decisions. Also observe some negative
aspects (if and try to suggest the ways by which owner or business can correct those (if
related to accounting process).
- How to do assignment-
Steps 1- Frame your questions
Step 2- Conduct Interview- telephonic only (if your father, mother, or any other relative is
Accountant Manager/ Proprietor of the business, then you can conduct interview with them
also)
Step 3 - Write your observation and answers in A4 sheets or in notebook, scan it and send it.
What to write in assignment-
1 First explain about the business which you have chosen, then
2. Explain the process of accounting' of selected business
3. Explain at least 6 accounting terms taking the example of the selected business.
4. Lastly, write about your experience and learning's from the interview.​

Answer 1

answer of the questions