AFT 1043 Basic Accounting: Group Assignment
AFT 1043 Basic Accounting: Group Assignment
AFT 1043 Basic Accounting: Group Assignment
BASIC ACCOUNTING
SEMESTER SEPTEMBER
2018/2019
GROUP ASSIGNMENT
Contents No of Pages
1. Abstract
2. Introduction
9. Conclusion
10. Appendices
ACCOUNTS
It is not easy to get control all the data necessary to analyse the higher
level calculations necessary to financial plan for the future. Having an
accounting is the way to help a company to know about their financial health.
Balance sheet show the business owner that how much the asset they have,
how much the liabilities they owe and their business values. The accounting
data help a business to plan the budget and the prediction for future period.
Business tendency are projected based on past data generate by accounting
system.
One of the function of the accounting is play the role for the stock
checking. Have an accounting company can manage their stock level. It can
guarantee the company have the actual quantities which available to meet
demand and make the flow of stock go smooth in order to avoid any affection
of cash flow. Improper use the stock will lead the loss of cost. It help company
fully recognize about the receiving or providing the stock and can handle easily
business deal. By effective of managing the stock take, it help company bond
the business relationship with suppliers and customers.
Last but not least, having an accounting is helpful for a business to carry
out the commercial activities smoothly and also helps in its future growth.
Meanwhile, financial statement produced by various accounting system are
used by multiple stakeholders to take economic decisious.