C1 Purposes of accounting

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purposes
Recording transactions, Management of business, Compliance, Measuring performance, Control
1 of 6
Control
making it difficult for employees/management to commit fraud- Controlling who accesses the accounts
2 of 6
Measuring performance
can the business be more efficient
3 of 6
Compliance
obeying the law; Tax, Fraud
4 of 6
Management of business
planning the finances for the future, is it sustainable
5 of 6
Recording transactions
keeping records of the money going in and out; useful for tax, over/undercharge, cash flow forecasts
6 of 6

Other cards in this set

Card 2

Front

Control

Back

making it difficult for employees/management to commit fraud- Controlling who accesses the accounts

Card 3

Front

Measuring performance

Back

Preview of the front of card 3

Card 4

Front

Compliance

Back

Preview of the front of card 4

Card 5

Front

Management of business

Back

Preview of the front of card 5
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