Relationship between journal and Ledger
Journal
Relationship between journal and Ledger: Every transaction impacts two accounts, according to the double entry accounting method. In this system,...
Opening and closing entries
Opening and closing entries: An opening entry is the first entry used to record transactions that occur at the beginning of...
Journal Proper
Journal Proper: Original records of a transaction that do not fit into any of the subsidiary books of accounting owing to their significance...
JournalÂ
A journal is a chronological record of financial activities in accounting and bookkeeping. A journal has traditionally been described as a volume containing original...
Accounting Cycle
The accounting cycle is the comprehensive process of documenting and processing all of a company's financial transactions, from when they occur to when...
Accounting in Computerized Environment: Introduction, features, Applications in various areas of Accounting
Computerised accounting system is a software that helps businesses to manage the big...
IAS 2 Inventories
IAS 2 Inventories: The International Accounting Standards Board (IASB) developed and distributed IAS 2 as an international financial reporting standard to give...
IAS1 Presentation of financial Statements
IAS1 Presentation of Financial Statements sets out the overall requirements for financial statements, including how they should be structured, the...
International Financial Reporting Standards IFRS
International Financial Reporting Standards IFRS: IFRS are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board...
