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Published byJulian Lawrence Modified over 8 years ago
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The Purpose of Accounting Assignment One
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Introduction
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What is accounting?
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What methods can businesses use to record transactions?
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Why is it useful to record transactions?
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How do accounting methods help to monitor the financial activity of a business?
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How do accounting methods help business to control their costs?
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How do accounting methods help businesses to plan for the future?
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How do accounting methods help a business to measure their financial performance?
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Why is it important for businesses to keep historical financial information?
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Overall, how important are accounting methods?
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What is meant by revenue and expenditure?
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Definition of capital income Remember to give examples
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Definition of capital expenditure Remember to give examples
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Definition of revenue income Remember to give examples
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Definition of revenue expenditure Remember to give examples
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What is the difference between revenue expenditure and capital expenditure?
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What is the difference between revenue income and capital income?
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