Basic Applied Math (BAM) Form Six Past Papers – NECTA A Level

CLASSIFICATION OF ACCOUNTS Classification of Accounts It is necessary to know the classification of accounts and their treatment in double entry system of accounts. Broadly, the accounts are classified into three categories: Personal accounts Impersonal Real accounts Tangible accounts Intangible accounts Let us go through them each of them one…

Elementary Balance Sheet The Balance Sheet Define the balance sheet The balance sheet, also called the statement of financial position, is the third general purpose financial statement prepared during the accounting cycle. It reports a company’s assets, liabilities, and equity at a single moment in time. You can think of…