Accounting Principles

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  • Accounting Principles
    • Users of Accounts
      • Owners/shareholders - work out the level of return they receive in their investment
      • Suppliers - work out if they're getting paid
      • Banks - good credit risk
      • Staff - bonuses, pay rises
      • Customers - still trading
    • Books of Prime Entry
      • Cash receipts book - record cash sales
      • Cash payments book - record cash going out the business
      • Sales day book - giving time to pay back
      • Purchases day book - credit purchases recorded

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