Elements of Book Keeping and Accountancy

Recording of financial transactions in a proper manner related to the business operation of an entity is known as bookkeeping. Bookkeeping is the permanent recording of financial transactions in a proper manner in the books of accounts of an entity so that their financial effect on the business of the entity can be seen. Let us understand the elements of book keeping and accountancy in detail.

  • Capital and Revenue
  • Depreciation
  • Bank Reconciliation Statement
  • Bills of Exchange
  • Final Accounts
  • Accounting from Incomplete Records
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