Double Entry System

Double Entry System of accounting or bookkeeping means that every business transaction will involve two accounts or more accounts. For example, when a company borrows money from its bank, the company’s Cash account will increase and its liability account Loans Payable will increase.

General Ledger

General Ledger General ledger is one of the basic entity is the basic accounting cycle that is used to store transactions that are further used in income statement and balance sheet of a company. This can be called as the most basic or main

Ledger

Ledger: Learning Objectives: Define and explain the term ledger. What are the main advantages of ledger? What is the difference between ledger and journal? Explain the method of posting. What are the different methods of preparing a trial balance? Why a trial balance is

Bookkeeping

Bookkeeping: After studying this chapter you should be able to: Introduction: The need for a system by which man might keep a record of his business transactions with his fellowmen was felt early in the history of civilization. Many and varied methods were used