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What is Trial Balance and its Purpose|Limitation|Format

What is Trial Balance: if you  are look for what is trial balance then you are at the right place, here we will discuss what trial...

How to Make Ledger Account

How to make Ledger Account Objective of Ledger: The following objective of ledger are: 1.To classify the business transactions with a view to determine the real...

Accounting Journal Entries Examples

Accounting Journal Entries Examples The first step in accounting is to record the entries in journal book.           Before going to explain how these Journal Entries...

Debit Credit Rules in Accounting

Debit Credit Rules in Accounting                  In Financial Accounting  Debit and Credit rules or principles of debit and credit,  are used to complete double entry...

What is General Journal

What is General Journal General journal may define as;                 An accounting record where all business transactions are originally entered.            A journal details which transactions occurred...

What is Accounting Equation with Example

What is Accounting Equation ? Accounting equation is  Assets = Liabilities+owner equity The resources controlled by a business are referred to as its assets. For a new business,...

The Nine Steps of the Accounting Cycle

Accounting Cycle          Accounting Cycle is the collective process of recording and processing the accounting events of a company. The series of steps begin when...