John Do e has recently started a small garage business, and has come to you for advice on what financial records he should keep. 'Surely all I need is a cash book', he says. Explain to him the limitations of single entry records, and advise him what records would assist him to run his business efficiently. Make any assumptions you like, e.g. the business sells secondhand cars, does repairs, employs two mechanics, etc., but clearly state your assumptions.