long term liabilities

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Introduction and basic terms

• Accounting is a system comprising the following elements: In summary Accounting is the process of identifying, measuring and communicating business information to assist users in making informed, useful decisions.
• Only monetary transactions are recorded in accounting using the historical and monetary principles.
• This simply means that only […]
  

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