Page 102 - Accountancy for Advanced Secondary Schools Teachers Guide Form Five

1. Objective
To establish a comprehensive and efficient accounting system that ensures
accurate financial reporting, compliance with Tanzanian tax laws, and
effective financial management.
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2 Key activities and tasks

Activity Tasks Responsible Timeline Resources needed
person(s)
1. Financial record keeping
(a) Establish Develop and customize Accountant [Start Date] Firm guidelines
Chart of Accounts Chart of Accounts suitable
for the business operations. TRA guidelines

Accounting soft-
ware,
(b) Record Trans- Enter all financial Accounting Daily Payment receipts
actions transactions (sales,
purchases, expenses) into Receive receipts
the accounting system
daily. Clerk Transaction
documents

Accounting
software,
(c) Maintain Regularly update and Accountant Weekly Calculators
Ledgers reconcile ledgers (general
ledger, accounts payable, Time
accounts receivable).
Bank statements

Accounting
software

Teacher’s Guide Form Five
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