What do you know about banking system of Uzbekistan?

Types of business
A business entity is an organization that uses economic resources or inputs to provide goods or services to customers in exchange for money or other goods and services.
Business organizations come in different forms of ownership. The basic forms of business ownership:

1. 
   Sole trader - is a business owned by only one person. The sole proprietorship form is usually adopted by small business entities.
   
2. 
   Partnership - is a business owned by two or more persons who contribute resources into the entity. The partners divide the profits and debts of the business among themselves.
   
3. 
   A corporation is usually large companies which has a number of stockholders. It belongs to stockholders. The stockholders usually have certificates showing the number of shares which they own. The stockholders elect a director or directors to operate the corporation. Most corporations are closed corporations, with only a few stockholders.
   

Accounting
Accounting is a system of recording financial information of the company. It has 3 stages: capture, processing and communication of the information. Accounting is based on the accounting equation which states that a company’s assets are equal to its liabilities plus equity. There are two main types of financial statements: a balance and a profit and loss account. A balance is a financial document which shows a company’s assets, liabilities and equity on the certain date. A profit and loss account illustrates financial results of the company.


What is audit?
Audit is a process of checking financial information of the company. Audit can be internal and external. Internal audit is a process of checking financial position of the company by its own accountants. External audit is usually conducted by independent specialists. At the end of the audit an auditor gives an auditor’s opinion.
(internal auditor is a company’s own accountant)