Difference between General Ledger and General Journal
When an accounting deal occurs, it is first recorded from the accounting system in a journal. There might be several journals, which can be either…
Accounting
What is the Modified Cash Basis of Accounting?
The modified cash basis of accounting uses aspects of both the income basis and accrual groundwork of accounting. Under the income or cash basis, a…
What are the Types of Equity?
There are various types of accounts accustomed to record equity. Each is used to store divers information regarding the interests of owners in the business.…
What is a Subsidiary Ledger?
A ledger is a book or database in which double-entry accounting transactions are stored or summarized. A subsidiary ledger is a ledger designed for the storage…
What is Cost Constraint?
A cost constraint is a situation in which the cost of a good or service can negatively impact the decision to purchase said good or…
What is Cash Turnover Ratio?
The cash turnover ratio is used to determine the proportion of cash required to generate sales. The ratio is typically compared to the same result…
What is a Trial Balance Worksheet?
A trial balance worksheet is a multi-column spreadsheet that contains the ending balances of all general ledger accounts used by a business. The worksheet is…
What are Fixed Charges?
Fixed charges are overhead costs that are not closely associated with activity levels. That is, these costs will likely be incurred by a business even…
What is Cost Management?
Cost management is the control of actual or forecasted costs incurred by a business. Cost management is the process of effectively planning and controlling the…
What is Inventory Analysis?
Inventory analysis is the examination of inventory to determine the optimum amount to keep on hand. Traditionally, this has been done by balancing the costs…
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