Question -
Answer -
Special purpose books are beneficial in:
тАв Accuracy: As each journal is managed by a different accountant having specific expertise, it improves accuracy and reduces defects.
тАв Efficiency: Increases efficiency by dividing workload
тАв Concise Descriptions: The journal describes the purpose of recording. For example a record in the purchase journal, will be┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬аunderstood by default that it is a purchase related transaction.
тАв Minimal Posting: Reduces the volume of posting as totals can be done periodically.
тАв Fraud Prevention: As recording of different journals are assigned to different individual, fraud prevention is prevented.
тАв Faster process: As multiple books are handled by multiple accountants, the recording work moves faster.