PART A:

REPORT WRITING (20%)

You and your business partners are in the final stage of rolling out your business by the end of the third quarter in 2022. Since you have sound accounting knowledge and background, your partners have requested you to explain to them on the necessity of having a sound accounting system for the new venture. Your briefing to the partners should cover the areas mentioned below:

i. Purpose of accounting.

ii. Why it is useful for all business entities.

iii. Types of reports being prepared.

iv. Users of financial information.

v. Importance of Accountant.

vi. Conclusion on the necessity of accounting in todays business world. You may add any area/s that you believe could improve further understanding of your business partners.

PLEASE ANSWER THIS QUESTION PROMPTLY. I want to make a report to this assignment.

2. This is subject INTRODUCTION TO ACCOUNTING