Correction of Errors Wrong Entries Identify wrong entries An accounting error is a non-fraudulent discrepancy in financial documentation. The term is used in financial reporting. Types of accounting errors include: Accounting errors can occur in double entry bookkeeping for a…
General Journal The Purpose of General Journal Explain the purpose of the General journal You are an accounting student; you do not need to be told just how difficult accounting can be. Accountants analyze business transactions and record them in…
Sources of Government Funds and Expenditure Estimates Indentify sources of government funds and Expenditure Estimates Government revenue refer to the income generated by the government through various income sources inside and outside the particular government, As to any other person…
Meaning of Government Counting Terminology Meaning of the term Accounting Define the term accounting Accounting is the systematic and comprehensive recording of financial transactions pertaining to a business. Accounting also refers to the process of summarizing, analyzing and reporting these…
Bank Reconciliation Statement Meaning of Bank Reconciliation Statement Define Bank reconciliation Statement Bank reconciliation is the process of matching the balances in an entity’s accounting records for a cash account to the corresponding information on a bank statement. The goal…
Petty Cash and Impress System (Column Petty Cash Book) Operation of the Petty Cash Book Determine the operation of the petty cash Book Petty Cash Book: Petty cash book is a kind of cash book which records large number of…
Books of Prime Entry The Meaning of Books of Original Entry or Subsidiary Books Give the meaning of books of original entry or subsidiary books The ledger accounts of a business are the main source of information used to prepare…
Elementary Balance Sheet The Balance Sheet Define the balance sheet The balance sheet, also called the statement of financial position, is the third general purpose financial statement prepared during the accounting cycle. It reports a company’s assets, liabilities, and equity…
Elementary Trading Profit and Loss Accounts Final accounts give a concise idea about the profitability and financial position of a business to its management, owners, and other interested parties. All business transactions are first recorded in a journal. They are then…
Stock Difference between Stock at Start and Stock at Close Distinguish between stock at start and stock at close Stock is the value of the goods that you have on hand to sell to your customers. If you sell services…
Translation is a process by which ideas that are written in one language ar...
Are the abilities that allow you to write effectively and concisely. A competent...
Reading is the process of going through written information or piece of wor...
What is Speaking? SPEAKING SKILLS: Speaking is simply the act of talking wh...
Listening is ability to accurately receive and interpret messages in the communi...
This is the field or branch of morphology which studies different principles or ...
Language is a symbol system based on pure or arbitrary conventions…...
Ecology is the study of the interactions between living things, such as humans, ...
EVOLUTION Evolution is a change in the genetic composition of a population...
Genetics is the study of heredity and variationHeredity- is the passage of chara...