Page 19 - Book-keeping for Secondary Schools Student’s Book Form One
P. 19
Introduction to Book-Keeping
Activity 1.2 decisions about the business. Accountants
produce reports popularly known as
Sakara is a businessman who does financial statements. These financial
not have a Book-keeping knowledge statements are prepared using balances
and has been running a restaurant for that are generated from the ledgers, which
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years. His friend, Kapesa told Sakara are prepared by book keepers. Financial
about you, specifying that you are information is important for business
management, investments, tax assessment,
a student studying Book-keeping at and government regulations activities.
Busara Secondary School. She informs Therefore, without the knowledge of
Sakara that you can explain some of Book-keeping, it would be difficult,
the basic concepts of Book-keeping for accountants to prepare and analyse
to him. You are approached by Sakara financial statements.
to clarify for about Book-keeping and
the importance of using Book-keeping Business studies
in his business. Prepare a brief note Book-keeping provides skills for preparing
that will guide your talk to Sakara in manufacturing accounts and how to
relation to his concerns. accumulate various costs which are related
to commercial activities. The relationship
between Business Studies and Book-keeping
Relationship between Book-keeping lies in their business activities which result
and other disciplines in financial generation. Business Studies
Book-keeping supports operationalisation provide a broader understanding of the
of other disciplines. The knowledge overall business environment and operations,
and skills acquired in Book-keeping while book-keeping is a systematic
are also applicable in different subject recording of financial transactions gained
areas covered in the Ordinary Secondary from business activities.
Education Curriculum and beyond. The
relationship that exists between Book- Economics
keeping and some other disciplines is Book-keeping knowledge allows students
explained as follows: of Economics to calculate real costs. Also,
Book-keeping develop skills for maintaining
Accountancy economics records, calculating national
Book-keeping lays down the foundation income, performing cost analysis and
of the Accountancy subject. It deals with production costs. Both disciplines contribute
recording and posting entries to various to the effective financial management and
ledgers that are used by accountants to
analyse, interpret and make informed informed economic decision-making.
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Book Keeping Form 1 New 2024 FINAL.indd 11 18/10/2024 10:14
