num_pages: 388
description: Excerpt from Preface:The principles and practices of bookkeeping and accounting are related to the daily lives of all of us. Even the simplest business transaction affects the financial records of some business. A person who rides on a bus gets a check for work he has done buys a pair of shoes or performs any other of the numerous common business activities of everyday living starts a chain of bookkeeping and accounting records. The study of bookkeeping will help us understand how business functions in our everyday life and what business contributes to our society.The principles and practices of bookkeeping and accounting make our personal lives more effective. If we keep records of our finances we can use our income more wisely. Spending can be planned to include not only the purchase of the necessities of life but also recreational activities and provision for the future. Personal records too are now needed for income tax purposes.Knowing the place of business in our society and knowing how to manage wisely our own personal business affairs makes for good citizenship. The study of bookkeeping and accounting therefore contributes to everyone's general education.
language: None
title: 20th Century Bookkeeping and Accounting
publisher: Southwestern Publishing Company