Book-keeping is the proper and systematic keeping or maintenance of the books of accounts. Book-keeping starts from the identification of business transactions. It is concerned with identifying financial transaction , measuring them in money terms; recording and classifying them. It is a primary stage. junior staffs perform this function. The job is derical and routine in nature. The objective of book-keeping is to maintaining systematic records of financial transactions. It is financial in nature and thus, does not require special skills.
PROCESS OF BOOK-KEEPING
- Identifying accounting transactions.
- Initial records of accounting transactions.
- Preparation of ledger accounts.
- Balancing ledger accounts.
- preparation of trial balance.
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