ZoomBeast & PoA 1on1 - Part I

Ok, I lied.. but heck, this is my blog.
If you scored B4 and above for PoA, you can skip all I'll be touching on...

Also, this post is aimed more towards the Aikido IG members who have no background in accounting.
Do note that this is for both year 1s & 2s. Year1s, u'll need it when u become a committee member.

Business Entity Concept:

At all times, the owner is to be considered as SEPARATE from the business & its assets.
This is to ensure that the assets of the company are not abused by its owner.

For example:
The Aikido IG club funds do not belong to the Aikido IG Committee members.
It is SEPARATE from the Aikido IG Committee members.

There are other concepts such as going concern but I wont be touching on those.