Accounting Assignment代写:财务记录

Evaluate the purpose and requirements for keeping financial records:

In business there are many purposes and requirements for keeping financial records among of those this three are mainly important. That's are:

Legal requirements: It means when people start businesses they need to follow business rules, laws and regulations to run their businesses. Almost every business has some form of legal ruling. Particular forms, licences and other documentations is field with state and local government offices in order to begin. And these documentations may be tax forms, shareholders and payments etc. Without this documentation you may given up from opening.

Tax requirements: In every business people must have to pay tax and this tax depends on business structure it's called tax requirement. This tax also sometimes depends on business profit, business types, and business quality and so on.

Internal control requirements: Internal controls are policies, procedures and mechanisms used to decline business risk. In order to check employees and member from committing a dishonest act the control must be via and wide. It helps business to run properly and to achieve business goals and also help to make good relationship between all business staffs.