Different Types of Business Transactions and Accounting Principles

This study material covers different types of business transactions, including purchase of materials and goods, purchasing services, sales, paying wages and salaries, non-current assets being purchased, raising finance and payment of rewards, accounting and payment of tax, and movement of money in bank accounts. It also explains the difference between financial statements and reports, and discusses various accounting principles such as monetary unit, going concern, conservatism, cost, money management, dual resource, time period, consistency, and matching. The material includes examples and calculations for better understanding.