You have started a business of your own. Choose any type of organization. The chosen organization should be critically evaluated in terms of its accounting system and its specifications based on the following questions.

a) Discuss in brief the background of the organization including its mission, vision, and objective of the organization and address the importance of the entity chosen

b) Elaborate its capital, assets and liabilities as well as its equities and justify its value as well.

c) An analysis of it's any ONE(1) month of its transactions(not less than 30 transactions) including the Prime Book Entries

d) Discuss the analysis from the above c) transactions with relevant Financial Statement Extract from your organization after balancing off the transactions Ledgers.

e) Illustrate the organizations any ONE(1) month Petty Cash Book to show future cash flow prospects.

f) Accommodate the company with any ONE(1) month bank reconciliation done in current or any prior date.

Answer rating: 100% (QA)

Lets proceed with the assumption that we are starting a boutique as the business We will go through the critical evaluation of its accounting system b... View the full answer