General Ledger
Commonly, it is referred to as the “books” of the company. In the general ledger, record each of the transactions twice as both a subtraction (debit) and addition (credit). The general ledger is the main accounting record of the company. A general le...
Top 7 Types of Journal Entries – Explained!
However, these journals were more visible in the manual record-keeping days. With the advent of technology, the task of record keeping has been made easy with all the information being stored in a single repository with no specialty journals in use. ...
Non-GAAP Earnings Definition
Generally accepted accounting principles (GAAP) are controlled by the Financial Accounting Standards Board (FASB), a nongovernmental entity. The FASB creates specific guidelines that company accountants should follow when compiling and reporting info...