CHAPTER ONE 1.1BACKGROUND TO THE STUDY (INTRODUCTION) Accounting is essential to all advance civilization which has moved beyond barter or counter trade is a means of each exchanging and has devised some sort of monetary system of payment. Geofficy, Whitehead (1994, p.89), individual corporate bodies and government other which ranges from proper recording of income and expenditure to easy determination of profit or loss from their business activities. According to Geofficy Whitehead (1994, p....
In running a business whether a small scale or large scale, there has always been a need to achieve the best business decisions by example all available alternative courses of action. All these business decisions are based on records of financial activities which have been undertaken to a considerable extent, to project the future of the business with these records. These serve the purpose of the several parties, e.g. investors, government, general public who may not be involved in the mana...
