Outline reasons why management needs complete and accurate books of accounts.

Outline reasons why management needs complete and accurate books of accounts.

Answers

There is no other way the business can be controlled
Records of debtors and creditors are indispensable
The best way to safeguard assets is to have a proper record of them
Accounts can only be prepared if proper primary books exist
The Companies Act has specific requirements on keeping of proper books of accounts
The various acts covering NSSF, NHIF, PAYE, VAT, and LEVY require proper books

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Judiesiz answered the question on August 15, 2018 at 03:51

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