General Journal And General Ledger Entries

For the purpose to analyze sample general ledger journal entry first let us distinguish two steps of this concept, i.e.: business transactions having an impact on the financial position of the business are first recorded in the general journal, which is one of the … [Read more...]

General Ledger Definition And Accounting

In the accounting we call ledger a group of accounts used by the business for the accounting purposes. We can find two types of ledgers: general ledger subsidiary ledger   General Ledger Coming further through General Ledger tutorial, first of all let … [Read more...]

Accounts Receivable Accounting – When Accounts Receivable Is Created?

Here we will be covering the topic: When Is An Accounts Receivable Created and also other questions related to the basics of the accounting for Accounts Receivable. For major part of entities being involved in business either selling goods, or providing services, significant … [Read more...]

What Is Accounting?

If you are just starting to learn accounting, it is essential to understand what it is. Let us think about the business, which performs certain business transactions. In respect of business, we can say that accounting is a system, the purpose of which is to provide information … [Read more...]

Accounting Cycle Step 1 – Analyze & Journalize Transactions

The purpose of accounting is to record each item, which appears in the financial statements separately in order to be able to trace it back if required. Type of record used for the purpose of recording individual transactions is called an account. Simplest form of account … [Read more...]