explain in 300 words Goods & Services Tax From a Gloabal perspective
explain in 300 words Goods & Services Tax From a Gloabal perspective
Accounting's goals include keeping a systematic record of all financial transactions in a book of accounts. It provides an estimate of the net results of the business operation on a regular basis. The profit or loss incurred during an accounting period can be determined by the owner of a company organization.
Managers, owners, and other stakeholders can use final accounts to get a sense of a company's profitability and financial status. All company transactions are recorded in a journal. After that, they are balanced and entered into a ledger. The ledger posted is transferred to the trial balance to know the arithmetical accuracy of each account. Then the final accounts are made for a certain time period using the trial balance.
Step by step
Solved in 2 steps
