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  • Internal Users External Users

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    harshitdoshi
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    Accounting system is based on journal, Ledger and TrialBalance. Transactions are recorded in the books of original entry. Information is communicated to Various Users - Boards of Directors - Partners - Managers - Officers - Investors - Lenders - Suppliers - Govt.agencies -Employees - Customers na.

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    Accounting system is based on journal, Ledger and TrialBalance. Transactions are recorded in the books of original entry. Information is communicated to Various Users - Boards of Directors - Partners - Managers - Officers - Investors - Lenders - Suppliers - Govt.agencies -Employees - Customers na.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    16 views1 page

    Internal Users External Users

    Uploaded by

    harshitdoshi
    Accounting system is based on journal, Ledger and TrialBalance. Transactions are recorded in the books of original entry. Information is communicated to Various Users - Boards of Directors - Partners - Managers - Officers - Investors - Lenders - Suppliers - Govt.agencies -Employees - Customers na.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Input

    Identification of transaction

    E conom ic events m easured in financial term s

    A ccounting C ycle

    O utput

    R ecording tran sactions in the books of original entry

    C lassifyi ng (P osting to ledger)

    S m um arizing (Preparation of trial balance)

    Preparatio n of final accoun ts

    C m om unicatin g Inform ati on to users

    Inter l Users External Users - Boards of Directors - Partners - Managers - Officers - Investors - Lenders - Suppliers - Govt.agencies -Employees - Customers

    na

    Objectives of Accounting

    Systematic Recording of Transactions

    Ascertainment of Results

    Ascertainment of Financial Position

    Communicating Information to Various Users

    Bookkeeping: Journal, Ledger and TrialBalance

    Manufacturin g, Trading, Profit and Loss Account

    Balance Sheet

    Financial Reports

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