IFRS Vs GAAP: Balance Sheet and Income Statement
The rate at which a company chooses to depreciate its assets may result in a book value that differs from the current market value of the assets. Anything tangible or intangible that can be owned or controlled to produce value and that is held by a c...
GL Codes – Dash
The chart of accounts is a list of every account in the general ledger of an accounting system. Unlike a trial balance that only lists accounts that are active or have balances at the end of the period, the chart lists all of the accounts in the syst...
What is a chart of accounts, and why is it important?
A general ledger is the foundation of a system used by accountants to store and organize financial data used to create the firm’s financial statements. Transactions are posted to individual sub-ledger accounts, as defined by the company's chart of ac...