FINANCIAL ACCOUNTING

FINANCIAL ACCOUNTING

1. JOURNAL

   • financial entries of the day
     • Passing the entries is called journal entry
   • Date
     • It represents the date of transaction
   • Particulars
     • represents the name of account to be debited.
   • LF
     • represents the page number of ledger account on which we post these entries.

2. Analysis and Treatment of Transactions

3. Posting in a Ledger

   • Record transactions

4. Ruling of Account in Ledger Account

   • is used for academic purpose. Hence, this format is useful to learn the basics and principles of accounting.

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