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CORE PRINCIPLE ‘laBumes
BUSINESS = BUSINESS ERSTE
aaa BUSINESS = BUSINESS
esate, QWNS OWES occ 2 en
PR DEDUCTING AL ITS UASLITES
OS NVESTED INTO A BUSINESS
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asa,
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cuggen assers uasumes
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INVENTORY x SALARIES PAYABLE x
Prefab epenses x TANS BASLE 5
SHORT-TERM INVESTMENTS, Zs es x
TOTAL CURRENT ASSETS x TOTAL CURRENT LASILITIS x
NON CURRENT ASSETS NON-CURRENT LIABLITIES
LONG TERM INVEST x TONG TERM LOANS x
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TOTAL NON-CURRENT ASSETS. x ces
TOTAL LIABILTES X
_ TOTAL ASSETS x
=> cour,
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‘ RETANED EARNINGS x
anny TOTAL ASSETS ARE ALWAYS EQUAL, a
TO TOTAL UABLUTES AND EQUTY TOTAL EQUITY x
‘TOTAL LIABLITES AND EQUITY xDOUBLE-ENTRY BOOKKEEPING
EVERY ACCOUNTING ENTRY HAS AN
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MSCONCEPTONS #-—---
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’ GET COPEES OF BANK STATEMENT AND CASH BOOK
ss. casnBooK *
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SHOWNG ALL CASH NELOWS (OES)
SND CASH OUTFLOW CRED)
BANK RECONCILIATION
BAN STTEMENT
STEP 2
AUST OF ALL CASH RECEPTS an wiTHoRAMALS
BUSNESS HAS MADE OVER A PERIOD OF KE SELLE REC EMAL
AS AT MBIM-OD-YYYY
BANK STATEMENT $ ‘CASH BOOK s
UNADJUSTED CLOSING BALANCE XAX) UNADJUSTED CLOSING BALANCE X/(X)
TIMING DIFFERENCES ‘OMSSIONS
‘ADD DEPOSITS IN TRANSIT x ‘ADD MISSING RECEIPTS x
DEDUCT GUTSTANDING CHEQUES —(X) | 2___ ADD INTEREST RECEIVED x
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UNRECONCILED AMOUNT X/(X) ee ~
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