B/KEEPING

Description of a Business Transaction Describe what a business transaction is An accounting transaction is a business event having a monetary impact on the financial statements of a business. It is recorded in the accounting records of the business. Examples of accounting transactions are: Sale in cash to a customer Sale on credit to a … Read more

The Meaning of Book Keeping Define book keeping Book-keeping is an art of recording financial business transaction in a set of books in terms of money or money worth. Bookkeeping involves the recording, storing and retrieving of financial transactions for a company,nonprofit organization, individual, etc. Common financial transactions and tasks that are involved in bookkeeping … Read more