What is set of books?

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abraham

  • Oct 18th, 2005
 

You define 3c's i.e. Chart of accounts, currency & calender to define chart of accounts

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tgs100

  • Dec 12th, 2005
 

It is similar to the bank passbook, used to record all the financial transactions. There could be one primary set of books and many reporting set of books. Defining COA, currency and calender are pre-requisite to define the SOB.

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