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Bookkeeping
BOOKKEEPING

Definitions:

i. The accurate keeping of the records of the accounts of a business.

ii. The regular recording of the essentials about the transactions of a business or enterprise. It is traditionally distinguished from accounting, which deals with the analysis and presentation of the recorded data.
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* All eight elements should be in.


1. Purposeful and necessary.

2. What is recorded is complete.

3. No wrong transcription when details are dictated or copied.

4. No error of transposition takes place during transfer process.

5. Regularity will be at the right time or period: kept as is and/or as at when due.

6. Handwriting, typeface, etc. will be appropriate. That is, record copied or written down will ordinarily be readable.

7. Format, language, etc. will be in an acceptable style.

8. Information recorded can serve purpose(s).
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See perfect SINCE.

See perfect EXACTNESS (1).

See perfect ACCURACY.

See perfect CORRECTNESS (1).

See perfect PROFIT AND LOSS ACCOUNT.

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