"Accounting and keeping records of it is a very important process, especially when it comes to businesses and organisations of any kind. Be it an NGO or a marketing firm, keeping track of your accounts always comes in handy. It helps you keep track of each and every body you are responsible for, it depicts the expenses, the profits and the losses most effectively and most importantly helps you have you control over the financial being of the firm. Incomplete records refer to a situation where a particular organisation does not employ a double-entry bookkeeping and instead makes use of a more informal system of accounts such as a single-entry system. This mechanism is often applied in order to sustain a certain reduced amount of financial information. "

Sruthy Santhosh

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