Normal Account Balances || Processing and Recording Business Transactions || Bcis Notes
Normal Account Balances The debit or credit balance that would be expected in a specific account in the general ledger. For example, asset accounts and […]
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General Ledger || Processing and Recording Business Transactions || Bcis Notes
General Ledger A general ledger is the foundation of a system used by accountants to store and organize financial data used to create the firm’s […]
T-Account || Processing and Recording Business Transactions || Bcis Notes
T-Account A T-account is an informal term for a set of financial records that uses double-entry bookkeeping. The term describes the appearance of the bookkeeping […]
The Journals || Processing and Recording Business Transactions || Bcis Notes
The Journals A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an […]
The Double Entry System || Processing and Recording Business Transactions || Bcis Notes
The Double Entry System The double-entry system of accounting or bookkeeping means that for every business transaction, amounts must be recorded in a minimum of […]
Accounting Transaction || The Basic for Recording Transactions || Bcis notes
Accounting Transaction Accounting transactions refer to any business activity that results in a direct effect on the financial status and financial statements of the business. […]
The Basic for Recording Transactions || Processing and Recording Business Transactions || Bcis Notes
The Basic for Recording Transactions The most basic method used to record a transaction is the journal entry, where the accountant manually enters the account […]
Legal Requirements of Accounting || Basics of Corporate Reporting || Bcis Notes
Legal Requirements of Accounting Accounting Requirements means the requirements of any system of accounts prescribed by a regulatory authority having jurisdiction over the Company or, […]
Use of computers in the accounting process || The conceptual foundation of Accounting || Bcis Notes
Use of computers in the accounting process Computers can be used as accounting machines and perform all the functions which accounting machines perform. Some of […]
The Accounting Framework || The Conceptual Foundation of Accounting || Bcis Notes
The Accounting Framework An accounting framework is a published set of criteria that is used to measure, recognize, present, and disclose the information appearing in […]