For our club accounts project, we just learned that a receipts and payments account is like a simple cash diary—what came in, what went out, no fuss. But an income and expenditure account is the proper one, matching income to the period it belongs to, to see if we really made a profit. I’m sweating over this because my final B.Com exam is tomorrow, and amma keeps bringing me coffee, whispering "Swalpa adjust maadi" as I try to memorise all the adjustments for accrued income.
#money#career
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