Runtime 2 hours; Access period 30 days from registration date; Learners Accounting students, entrepreneurs, non-accountant professionals; Recommended previous course Journalizing Recommended next course Unadjusted Trial Balance.
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Known as the book of final entry, the general ledger contains all the accounts that accept the transactions from the journal entries. The balances in the accounts are the ones reported in the financial statements. An accounting system may maintain other records such as registers and, subsidiary ledgers. These contain additional details of an account but are not the bases for the reported amounts in the financial statements.
COURSE OBJECTIVES
The second step in the accounting cycle is Posting, named as such because the journal entries from the book of original entry is transferred to or posted to the general ledger, also known as the book of final entry.
RECOMMENDED NEXT COURSE
The recommended next course, Unadjusted Trial Balance, is the third and final step in the preparation stage. The unadjusted trial balance summarizes the account balances determined during posting in a table that shows all the accounts and their balances. The columns for debits and credits should have equal totals.
