Accouting

Letters they would be on letter headed paper with the customer and business addresses on the subject and the date the letter was written content and signature.

| Used to keep track of all the financial transaction in a business such as all items purchased, all bills paid, and all payroll calculations

The original charge book was first created during World War II. It was designed to help Chief Petty Officers of the United States Navy organize how to best prepare, plan, and track as well as display their current qualifications. Chief Petty Officers would also use the charge book to record all the details of the responsibilities of the First Class Petty Officers. In addition, the Chief would also write down conversations with other Chiefs on knowledge they needed to know. They would then go back into the charge book and study what they had learned from the conversations. These charge books were used to be a professional record and further the development of the Chief Petty Officer.

Firstly the role of accounting is to record business transactions in a systematic way, for instance recording the amount of sales made to customers by John Lewis. This is done by the business to keep the records accurate and updated as well. If bookkeeping is done incorrectly, this will result in the business processing wrong payments or billings. For instance, if John Lewis does not do bookkeeping, the business will end up making payment to wrong suppliers.

The description of different types of business documents produced and their format to be followed are as follows:

There are a number of different types of documents, below is a table which shows the types of documents and the format to follow.

1) Book-keeping is the art of keeping and maintain accounts in the prescribed manner whereas accounting is mainly concerned with the design of the system of records, preparation of reports based on the recorded data , and interpretation of the reports.

All businesses and organisations have to check to see that the information they have stored is accurate. For example, the money coming in and going out have to be correctly recorded otherwise it will look as if the company has not made much profit and it can affect the share prices of the company, affect the employees as the company might not be able to pay the employees and will have to cut down on staff, lenders will not agree to lend money, etc.

- Written information: This is information that is written in a document, Tesco uses this type of information in its leaflets, receipts and collects this information from customers through comment cards etc.

The entries used to record the disposition when the receivables are sold to a factor often detail the cash received plus the service charge. The company can then balance their receivables account. When a credit card company records a credit card

The school bookkeeper is primarily responsible for the checks and balances that are made in regards to the overall school budget. The bookkeeper

Merchandising inventory is goods that have been acquired by a distributer, wholesaler, or retailer from suppliers with the intent of selling the goods to third parties. (Accountingtools.com, 2015) When choosing the type of method to use for merchandising inventory it is important for the business to understand what type of services or goods that are being provided. This can offer a better insight to the proper and most cost effective method. When deciding there are four types of inventory cost methods to elect from.

Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions. These activities include computing costs and efficiency gains from new technologies, participating in strategies for mergers and acquisitions, quality management, developing and using information systems to track financial

Three products of accounting and bookkeeping procedures that are most useful in personal financial planning would be (1) understanding and

The first one is the income statement – Income statement is a financial statement that