Nadiah has a partnerships business with his cousins, Husna and Bari. Three of them has good...
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Nadiah has a partnerships business with his cousins, Husna and Bari. Three of them has good relationships and have different skills. However, they have very lack knowledge in accounting records. Nadiah has hired you to provide training on accounting records. The training consists of the following: a) Explain the accounting process or cycle in a definition. b) Explain accounting concepts and assumptions that shall be practiced by an accountant in Malaysia. c) Identify accounts related to the business and classify it under Assets, Liabilities and Owner's Equity. d) Explain double entries rules and accounting equation to the business. Nadiah has a partnerships business with his cousins, Husna and Bari. Three of them has good relationships and have different skills. However, they have very lack knowledge in accounting records. Nadiah has hired you to provide training on accounting records. The training consists of the following: a) Explain the accounting process or cycle in a definition. b) Explain accounting concepts and assumptions that shall be practiced by an accountant in Malaysia. c) Identify accounts related to the business and classify it under Assets, Liabilities and Owner's Equity. d) Explain double entries rules and accounting equation to the business.
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a The accounting process or cycle refers to the sequence of steps followed to record classify summarize and report financial transactions of a business It involves a series of activities that begin wi... View the full answer
Related Book For
Auditing A Practical Approach with Data Analytics
ISBN: 978-1119401742
1st edition
Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton
Posted Date:
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