• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

The Purpose of Keeping Accurate Records

Extracts from this document...


The purpose of keeping accurate records You may be asked at any time how much you have spent or brought in your household over the past year. You may have an estimate on how well you are managing your paycheques but is it accurate enough. Many people may keep receipts of what has been purchased, which may be accurate enough to the general household. ...read more.


Information for Stakeholders - If information of the firm is promising then the stakeholders can invest, promote, or continue buying products from the same firm. Financial Documents - These documents include the final statements of productivity i.e. Balance Sheet. When a sale is made by a business, they either expect payment to be made immediately or later, a credit or cash sale. ...read more.


It is vital that a receipt is obtained; this is to show that a purchase has been made to the retailer, and for the business to record how much it has spent on stationary, as it is an expense. Receipts have to main forms: Printed Written The printed version is sometimes called the till receipt, it has the following details: The retailer's name, Address Date & Time Sales representative Goods Purchased Total Due Cash given Slogan or Public realtions message Advice VAT registration number. The above outlined is the average layout of a till reciept each can have many variations ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. The Purpose of Keeping Accurate Accounts

    This will also show if the business as understated or overstated their profits over the years. * Raise finance - can support businesses wanting to raise money by comparing the accounts and to pay of expenses. Need to raise finance to show bank manager for a successful bank loan.

  2. The Importance of Keeping Accurate Accounts.

    * Comply with statutory requirements - the Accounting Standards Board issues accounting standards. The Statement of Standard Accounting Practice (SSAP) was introduced with the aim of limiting the ability of accountants to use diverse accounting procedures, therefore businesses must comply with legal requirements.

  1. unit10 final account

    The total turnover for the tesco in UK shows the total turnover of �24,760. In total, they have 5.2 million banking, Tesco. Com and telecom accounts. TASK 3 DECRIBE THE CORE BUSINESS ACTIVITIES OF THE TWO BUSINESSES YOU ARE INVESTIGATING FOR THIS UNIT.

  2. Investigate the purpose of Microsoft.NET initiative.

    After initial research was undertaken it was found to be useful to investigate the development of the use of the Internet in order to give background information as to why the .NET technology might have been developed. The findings from this gave a base knowledge from which to work for the rest of the project.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work