BOOK KEEPING
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TOPIC 3: CONSIGNMENT | B/KEEPING FORM 4
The Account in the Consignors and Consignee’s Books
Show the account in the consignors and consignee’s books
Consignment Overview
Consignment
occurs when goods are sent by their owner...
TOPIC 2: JOINT VENTURES ~ BOOK KEEPING FORM 4
The Meaning of Joint Venture
Define a joint venture
An
association of two or more individuals or companies engaged in a
solitary business enterprise for profit without actual...
TOPIC 1: BILLS OF EXCHANGE | B/KEEPING FORM 4
Meaning of a Bill of Exchange
Define a bill of exchange
Bill of exchange is written order letter in which there is not any
condition. Writer’s sign...
TOPIC 13: GOVERNMENT BUDGETING PROCEDURE | B/KEEPING FORM 3
Meaning of a Budget
Define a budget
:
A budget is a set of interlinked plans that quantitatively describe an entity’s projected future operations. A budget is...
TOPIC 12: ACCOUNTS OF NON-PROFIT MAKING ORGANIZATIONS | B/KEEPING FORM 3
Accounting of Non-Profit Making Organizations
Preparation of Statement of Affairs
Prepare statements of affairs
Certainly,
proper accounting is essential for non-trading institutions. These
concerns maintain, generally, a cash book...
TOPIC 11: INCOMPLETE RECORDS | B/KEEPING FORM 3
Statements Showing Profit or Loss From Incomplete Records
Draw up statements to show profit or loss from incomplete records Some times, businesses, especially small businesses...
TOPIC 9: MANUFACTURING ACCOUNT | B/KEEPING FORM 3
Manufacturing Account
Difference in Accounting for Stocks between Manufacturing Companies and Merchandising Companies
Explain the difference in accounting for stocks between manufacturing companies and merchandising companies
The...
TOPIC 8: BALANCE SHEET (CLASSIFIED) | B/KEEPING FORM 3
Meaning of Each Asset and Liability Classification Appearing on a Balance Sheet
Define each asset and liability classification appearing on a balance sheet
A
classified balance sheet...
TOPIC 7: FINANCIAL STATEMENTS | B/KEEPING FORM 3
General Purpose Financial Statements
Describe general purpose financial statements
Financial Statements
Definition:
Financial statements are a collection of reports about an
organization’s financial results, financial condition, and cash flows.
They...
TOPIC 6: BAD DEBTS | B/KEEPING FORM 3
The Bad Depts Account
Show the bad debts account
What are bad debts?
The term bad debts
usually refers to accounts receivable (or trade accounts receivable)
that will not be...
