Prepare an accounting policy on processing of financial transactions for newly established business. Discuss the policy in details for the following topics:

1. Scope of the policy
2. Responsibilities
3. Chart of accounts and general ledgers
4. Accounting conventions including accounting standards
5. Bank Accounts and reconciliation
6. Depreciation methods
7. Valuation of assets
8. Financial reports
9. Consolidation procedures for subsidiaries

   Prepare an accounting policy on processing of financial transactions for newly established business. Discuss the policy in details for the following topics:

10. Scope of the policy
11. Responsibilities
12. Chart of accounts and general ledgers
13. Accounting conventions including accounting standards
14. Bank Accounts and reconciliation
15. Depreciation methods
16. Valuation of assets
17. Financial reports
18. Consolidation procedures for subsidiaries