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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Paul Burns, The Small Business Programme: Bookkeeping and Accounting Systems, Open University, 1989.
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© 1993 Jim Dewhurst and Paul Burns
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Dewhurst, J., Burns, P. (1993). Accounting Systems. In: Small Business Management. Macmillan Small Business Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-23109-6_13
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DOI: https://doi.org/10.1007/978-1-349-23109-6_13
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-60654-4
Online ISBN: 978-1-349-23109-6
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