Accounting process, Accounting Standards

In previous section you learnt about the accounting involves four stages:

(i)  recording the transactions,

(ii)  classifying-the transactions,

(iii) summarising  the transactions, and

(iv) Interpreting the outcomes.

Hence, you are aware that all transactions are recorded first into the books of original are as Journal, and then posted in the concerned accounts in the ledger. You have also the fundamental accounting concepts to be observed in the recording "stage and the rules of debit and credit. Along with the help of these rules we shall discuss in this section how different transactions are recorded in the Journal and how they will be posted in the concerned ledger accounts, we shall also illustrates how to balance various accounts prepare a Trial Balance so as to test   arithmetical accuracy of the books of account.

Posted Date: 4/3/2013 6:10:51 AM | Location : United States







Related Discussions:- Accounting process, Assignment Help, Ask Question on Accounting process, Get Answer, Expert's Help, Accounting process Discussions

Write discussion on Accounting process
Your posts are moderated
Related Questions
1)   List every item debited or credited in the Profit and Loss account. 2)   Illustrates the difference among Trading Account and Profit and Loss Account. 3)   Illustrates t

To finish  this scenario, use the Confidence Interval Calculator Sheets 1,2,3. The Sacred Grounds coffee shop in Dead horse, AK, is considering changing its coffee brewing units

The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la

These are amounts owed to the company through debtors. This is the purpose why we also utilize the term sundry debtors to indicate the amounts owed to the firm. This signifies amou

QUESTION Social accounting is a way of measuring and reporting on an organisation's social and ethical performance. It is principally concerned with offering a complementary fo

This is a 2,000 words assignment. There is list of 5 questions. I would love to get it done in 3 days. Could you please let me know whether you are capable of getting it done. Than

How long after payment will it take to get a response#question?

To finish  this scenario, use the Sample Size Estimator Sheets A, B of this file. In the previous years of the twenty-first century, annual salaries for federal employees in the

i have an assignment that is requiring me to build my own Accounting framework. this assignment is not a research or textual assignment it must have a thinking process, so i can an

illustration