Bookkeeping, Accounting and the Double-Entry Principle
Principles of Bookkeeping And Accounting. Thousands of years ago, there were no standard permanent records of business transactions, but with…
Read article →Suspense Accounts, Errors, and its Corrections
Suspense Accounts, Errors, and its Corrections In this article, you are going to learn all that it entails in preparing…
Read article →Branches of Accounting – 8 Types of Accounting
Accounting can be classified in various ways. This includes Accounting as an information system, Accounting as a Profession, Public Accounting,…
Read article →Control Account Definition – Uses & Adv. of Control Account
What is a Control Account? Control Account is a memorandum account into which are transferred in totals, the various amounts…
Read article →Bank Reconciliation Statement +Video Guide
Bank Reconciliation Statement A bank reconciliation statement is a statement drawn up to verify the cash book balance of an…
Read article →Importance of Accounting in an Economy
Accounting is no doubt, the universal language of business and figure. Those that fluently speak the language are called accountants.…
Read article →10 Questions on Subsidiary Books
Question 1 You are to enter up the sales journals for the following details. Post items to the relevant accounts…
Read article →1, 2, 3 Columns Cash Book +Video Guide
The cash book is a subsidiary book of first entry for all cash transactions. It is also a ledger book…
Read article →Subsidiary Books of Accounting; Types & Summary
What are Subsidiary Books? Subsidiary books are books of prime entry used to record source documents arising from business transactions…
Read article →2 Questions on Ledger Entries +Video Guide
Question 1 on Ledger Entries Open the necessary ledger accounts to record the transaction below, balance it off and extract…
Read article →Ledger Accounts and Trial Balance +Video Guide
Ledger Accounts and Trial Balance. In this article, Ledger Accounts, you are going to learn the definition of the term…
Read article →Joint Venture Accounting (AOC with Video Summary)
Joint Venture Accounting AOC This summary gives a clear definition and meaning to Joint Ventures Accounting, differentiating between Joint Ventures…
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