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what is a comprehensive account record?

what is a comprehensive account record?

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MEANING OF COMPREHENSIVE ACCOUNT RECORD - Comprehensive account record refers to the process of accounting which records each and every minute and material data relating to each account. Accounting runs on the basis of principles, assumptions and rules implied by authorised organisation which says that in accounting full disclosure of material things should be done while recording, classifying ,summarising and preparing financial statement. Comprehensive account record helps firm's to maintain its accuracy, reliability and ethical policies by recording comprehensive details of each accounts and which also helps to prepare financial statements accurate.

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