Cash transaction is thwe immediate payment made while cedit transaction is the payment which is postponed to the future.

Accounting entity is a clear distinction made between the business and the owner

Accounting period is the life of a business which can be divided into specific time periods for the purpose of preparing financial reports.

Assests is the resource of value owned by the business

Liabilities are debts owned by a business to parties outside the business.

Owners's equity provide the business with funds such as the capital , therefore having the rights to its assests.

On the debits' side , its is for the in crease in assets, purchases such as expenses and drawings, while decrease in liabilities, owner's equity.

While on the credits'side, it is fer the increase of owner's equity , liabilities, sales and while decrease in assets.

Invoice are used to inform the buyer of the amount paid for the goods and services supplied by the seller.

Credit note is used to correct n overscharged in the invoice

Debit note is used to correct an undercharged in the invoice.

payment voucher is used as an evidence for a payment to a named party.

Cheque counterfoil is used as an record of the amount paid on a particular numbered cheque to the payee

receipt is used for the acknowledgement of the money received

Bank statement is a summary of monthly transaction of a current account holder with the bank.

Petty cash voucher is used as an evidence of payment to a named party from petty cash

A bank reconciliation is prepared to account the differences between the balance in the cash book and the balance in the bank statement

A bank reconciliation is needed to be preparesd to ensure the amount withdrawn nd the amount deposited balance ..

Depreciation is the allocation of the cost of the assests over the estimated useful life of the assets.

capital expenditure the the money spent to buy asset which is used in the business for more than one accounting period

revenue expenditure is the money used to buy goods and services which can be used up in one accounting period

capital receipts derived from the other sources not related to the trading account of the busineess

revenue receipts derived from the trading account and normal activities of the business.

Bahhhhhhhs ,
♥imsushanny

Sushanny,
15 yr old,
13;july;1993,
♥;
Yellow,
Red,
Guai lans.
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♥GuaiLans;
KaoBei aka Jing.
KaoBu aka Sushan.
KaNaSai aka Joan.
KaNiNa aka Alicia.
QiPianNi aka ViVian.
--
♥;
JayChou, :D
Red & Yellow,
Duckies, Piggo, Sheepos, <3
Green tea,
Peace Lovers!
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Bigg Teddy Bears,
More Fwens,
Loyal fwens, (:
New Handphone,
Yellow Things,
Hate someone,(:
Love Someone,
Laopos, 2 currently (:
LaoGong, 1 currently, 311008;1122am♥
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Tagboard.

dont spam(?)

--

links,.

bye?

tag me if you wan me to relink/unlink/link you ,
--
Ain
♥Alicia
Briana
Cassie
Dhaimirah
♥Elith
Esther
Gerald
Hajarah
HuiYing
♥Hema
♥Iqbal
♥Jennifer
JiaXin
♥Jing
JingSuan
Lionel
Lorraine
Lynette
♥MiaoQing
Norishma
♥Radiyah
Renee
Saliha
Syahidah
Shufiah
Shafiqah
Simin
Siying
♥Suchang
Ting
♥Venesa
Yeng minn
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History

the past is behind?

August 2008
September 2008
October 2008
November 2008
December 2008

Credits.

behind the scenes

Designer:Sophia
Codes:%delusion-n
Background:Photobucket