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CHAPTER ONE 1.0 INTRODUCTION Record Keeping is the process of collecting, inputting, storing, classifying, summarizing and interpreting data. Record keeping has two facets – financial record keeping and managerial record keeping. The basic purpose of financial record is to assist decision makers in evaluating the financial strength, profitability and future prospects of a business. Managerial record keeping in contrast is tailored to the needs of a particular company. It helps ...

CHAPTER ONE 1.0 INTRODUCTION Record Keeping is the process of collecting, inputting, storing, classifying, summarizing and interpreting data. Record keeping has two facets – financial record keeping and managerial record keeping. The basic purpose of financial record is to assist decision makers in evaluating the financial strength, profitability and future prospects of a business. Managerial record keeping in contrast is tailored to the needs of a particular company. It helps ...