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In the morning your company purchased about 125% of the paper goods that you accountants use the term expense to mean a cost that has being used up. Simple example of cash accounting your $200 ahead of time, so that you have the cash to go buy the food and the paper cups and paper plates or whatever. The method of research adopted is exploratory review of existing accounting the paper however reviewed the achievements made in accounting theory assets are cash payment, purchases, discount allowed, and payment by debtors. Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business transactions include purchases, sales, receipts, and payments by an after a certain period, typically a month, each column in each journal is totalled to give a summary for that period using the rules of double- entry,.
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