A beginner’s guide to Accounting terminology and book-keeping
What you will learn
Various types of accounts
Recording transactions in the book of prime entry(Journal)
Posting in the Ledger by opening an account
Classifying transactions
Closing and Balancing the accounts
Preparing the trial balance
Agreement of trial balance
Rectification of Errors
Suspense account
Bank reconciliation statement
Preparation of final accounts
Description
Through this course, you will be able to
- Account in a systematic manner
- Apply the golden rules of book keeping
- Analyse, record and ascertain profit or loss in doing a business
through clear explanations and solved examples.
Simple illustrations have been given to describe the journey of transactions from scratch to trial balance covering the steps in accounting from identifying and analyzing transactions to preparing an unadjusted trial balance.
English
language
Content
Introduction
Introduction to Accounting
Accounting terminology
Transaction
Types of accounts and the accounting cycle
Basics of Accounting
Accounting cycle
How to enter a transaction in a journal
How to post journal entries in a ledger
Solving an exercise problem
Problem statement and journal entry
Posting in the ledger using the journal entry
Closing the accounts
Trial balance
Ledger
Subsidiary Books
Subdivisions of Journal
Entering in Purchases book and Sales book and posting in the Ledger
Trial balance(Revised)
Subdivisions of Journal
Conclusion
Key points to remember