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Acc PP2 2021

The document discusses the importance of tracking financial records, such as sales, inventory, and production, for better management and planning. It highlights the distinction between credit and cash transactions and emphasizes the benefits of accurate record-keeping for loan applications and accountability. Additionally, it mentions the impact of direct expenses on raw materials and the significance of a business's reputation and management.

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basupilefoko
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3 views19 pages

Acc PP2 2021

The document discusses the importance of tracking financial records, such as sales, inventory, and production, for better management and planning. It highlights the distinction between credit and cash transactions and emphasizes the benefits of accurate record-keeping for loan applications and accountability. Additionally, it mentions the impact of direct expenses on raw materials and the significance of a business's reputation and management.

Uploaded by

basupilefoko
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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errors can be quickly be traced

reduces the time needed to train employees

makes it easier to assign responsibility for


mistakes
tonto monitor income and expenses for better
financial management
to track livestock and crop production for
improved planning
to provide accurate information when applying
for loans or govt support

sales records
inventory records
livestock records
crop production records
expense records

credit transactions is when payment is delayed


and made at a later date whereas cash
transaction is when payment is made immediately
after the time of purchase
*
*

it shows the direct expenses or costs which


affect the raw material directly

inventory of goods which are incomplete at


the end of the financial period
benefit that the business will enjoy as a result
of it's name, location and good management

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