1st October, 1960
1st October, 1963
1st September, 1965.
As much details as possible
Summary figure only
Details of non-controllable expenses
Cost and comparable data useful in decision making.
Understate income this year and understate in next year
Overstate income this year and overstate in next year
Understate this year's income with no effect on next year's
Overstate the income for the two-year period.
Credit of the discounts received account
Debit of the discounts allowed account
Credit of the discounts allowed account
Debit of the discounts received account.
An addition to balance per books
A deduction from balance per bank statement
An addition to balance per bank statement
A deduction from balance per books.
Cash receipts journal
Cash disbursement journal.
Valuation of stocks.
Reduces the number of cheques that will be written during any giving period
Provides a highly flexible system for handling unusual transactions
Provides a comprehensive record of business done with particular suppliers
Ensures that every expenditure is reviewed and verified before payment is made.