Introduction to book-keeping

Business Studies J.S.S 1 Third Term

WEEK 2

Introduction to book-keeping

Performance Objectives

Students should be able to:

      1. State the meaning of book-keeping.

      2. Explain the importance of book-keeping to business.

      3. Identify the qualities of a book-keeper.

Content

What is book-keeping?

Bookkeeping is the name used to describe the recording of cash and credit transactions so that information relating to the transactions may be easily obtained.

Book-keeping is therefore defined as the process of recording business transactions in a systematic way to show the statements of transactions and the owners capital. It can also be defined as the act of systematically keeping records of all financial transactions in chronological order.

A person who practices book-keeping…