2015-08-21
611
| in (2), to (1), by (1), through (1), on (1), at (1), up to (1), of (1). |
Certain procedures must be established … every business entity to provide the data to be reported … financial statements. These procedures are frequently referred … as the accounting process. During the fiscal period it is necessary to engage … a continuing activity – the recording … transactions … the various journals and ledgers. … the end of the fiscal period, the recorded data are brought … … date … adjustments, are summarized, and financial statements are prepared.
| of (3), in (3), on (2), within (1), against (1). |
The manner … which the accounting records are organized and employed … a business is referred to as its accounting system. The exact form the accounting records take depends … the complexity and degree … mechanization … the system. The various recording routines … each system are developed to meet the special needs … the business entity. Recording processes must be designed to provide accurate information … a timely and efficient basis, while they must also serve as effective controls … preventing mistakes and guarding … dishonesty.
| of (8), for (4), by (2), (up)on (2), through (1), with (1), in(2). |
A relatively large organization ordinarily provides … the control … purchases and cash disbursements … adoption … some form … voucher system. … the use … a voucher system, cheques may be drawn only … a written authorization … the form … a voucher approved … some responsible official. A voucher is prepared, not only … support … each payment to be made … goods and services purchased … account, but also … all other transactions calling … payment … cheque, including cash purchases, retirement … debt, replenishment … petty cash funds, payrolls and dividends.
