Abstract
The Companies Acts require that all companies keep certain accounting records ‘sufficient to show and explain the companies’ transactions’. The following records should be kept:
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1.
A record of day-to-day cash receipts and expenditures.
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2.
A record of assets and liabilities.
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3.
A statement of stock at the end of each financial year, and a statement of stock-taking from which it was prepared.
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4.
Except for ordinary retail trade, statements of all goods sold and purchased showing the goods and the buyers and sellers.
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Select Bibliography
F. Wood, Business Accounting, vols 1 and 2 4th edn Pitman, 1987.
Colin Drury, Management and Cost Accounting, Van Nostrand Reinhold (UK), 1986.
J.F. Weston and E.F. Brigham, Managerial Finance (British edn by J. Boyle and R.J. Limmack), Holt, Rinehart & Winston, 1986.
K.N. Bhaskar and R.J.W. Housden, Accounting Information Systems and Data Processing, Heinemann/CIMA, 1985.
Choosing a Small Business Computer (2616), Chartac, n.d.
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© 1989 Jim Dewhurst and Paul Burns
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Dewhurst, J., Burns, P. (1989). Accounting Systems. In: Small Business. Macmillan Small Business Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-19657-9_15
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DOI: https://doi.org/10.1007/978-1-349-19657-9_15
Publisher Name: Palgrave Macmillan, London
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