General ledger records each transaction both as a debit and a credit, ensuring balance. Understanding the general ledger aids in interpreting financial statements like balance sheets. Investors can ...

Journal entries are the basic, essential building blocks that are used to create a company's balance sheet and income statement. Adjusting journal entries are used by all companies that comply with ...

Bookkeeping is an essential part of running a business, no matter the size. Recording all of the firm's financial transactions, both income and expenditures, gives management a clear picture of the ...