Book-keeping
Book-keeping is the art of recording the transactions on the books of original entry and the ledgers. This work is usually performed by junior clerks who are sometimes called book-keepers of accounts clerks. This work is more or less of mechanical nature and does not require any specialized knowledge of the principles of accountancy. The work of such clerks is supervised by a man who is called an Accountant.
Category: Accounting & Auditing
Previous: ← Definition of Audit
Next: Accountancy →
More from this Section
- Special journal
Special journal refers to a journal that records similar types of transactions, such as ... - Profit center
A profit center refers to a responsibility that incurs costs (and expenses) and also generates ... - Modified accelerated cost recovery system (MACRS)
Many corporations use straight-line in their financial statements to maximize net income. ... - Cash budget
The cash budget is a projection of anticipated cash flows. Because cash is so vital, this ... - Federal Unemployment Tax Act (FUTA)
The Federal Unemployment Tax Act (FUTA) is another feature of the federal Social Security ...