Tham khảo sách 'english of accounting', ngoại ngữ, anh văn thương mại phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | TONG LIEN NOAN LAO NOiNG VIET NAM TROOING NAI HOC TON NOC THANG PHONG THCN DN READING Compiled by ThS. NOi THÒ HOA QUYEN Internal publishing - HCMC June 2010- 1 TONG LIEN NOAN LAO NOiNG VIET NAM TROOING NAI HOC TON NOC THANG PHONG THCN DN READING FOR ACCOUNTING Compiled by ThS. NOi THÒ HOA QUYEN Internal publishing - HCMC June 2010- 2 PROCESSING ACCOUNTING DATA BOOKKEEPING TỊẺbiir Cr Ji1 TSff 33D r Bookkeeping The Ert y Way Bookkeeping is an essential accounting tool. A small business or company may employ only one bookkeeper who records all of the financial data by hand large organizations may employ many bookkeepers who use electronic and mechanical equipment for a large part of their work. Each organization has its own bookkeeping requirements but all systems operate on the same basic principles. The two basic systems of bookkeeping are double entry and single entry. The basic principle of double-entry bookkeeping is that every transaction has a twofold effect. In other words a value is received and a value is yielded. By recording both effects of each transaction this system offers protection against error. An account is a record of the financial transactions that concern one item or a group of similar items. The account includes categories of financial data for each area of interest during a specific period the value at the beginning of a period changes in value during the same period and the value at the end of a period. Assets are those things of value that your company owns. The cash in your bank account is your asset. So is the company car you drive. Assets are the objects rights and claims owned by and having value for the firm. Since your company has a right to the future collection of money accounts receivable are assets The machinery on your production floor is also an asset. If your firm owns real estate or other tangible property those are considered assets as well. If you were a bank the loans you make would be considered assets since they represent
