Self Balancing Ledger Part 2
- 1x (Normal)
Entries to be Passed in Credit purchase9:17
Self Balancing Ledger Problem 423:38
self Balancing Ledger Problem 52:14
self Balancing Ledger Problem 641:17
self Balancing Ledger Problem 715:18
About This Class
Like journal is subdivided into subsidiary books, the larger enterprises divide their ledger into several ledgers to accommodate large number of accounts. A small business can do with only one ledger. However, in case of big business, the number of personal accounts may be quite large and therefore, it may not be convenient to keep all the accounts in one ledger. Moreover, in case of non-agreement of trial balance, it is a time consuming and laborious task to locate the difference in accounts if transactions are recorded in one ledger. in order to reduce the trouble to a minimum and time involved in locating the errors, the system of self balancing has been evolved.
Under the self balancing system, posting of transactions is not done in one ledger but the accounts are opened in more than one ledger. Under this system, the ledger is subdivided into the following three ledgers:
- Debtors or Sales Ledger
- Creditors or Purchase Ledger and
- General or Impersonal or Nominal Ledger.
In this course , you will learn more about self balancing ledger.
I am a Chartered Accountant with tonnes of passion for teaching.
I teach Financial Management for Chartered Accountancy and Cost and Management Accountancy students in Ernakulam,India. and I teach 100+ Finance, Accounts, Costing, Banking, Credit Analysis, Statistics, etc. in Skillshare.
I also hold
- Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune
- Bachelors in Commerce, from Loyola College, Chennai.
I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice.
During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in
a) Financial Analysis
b) Risk Assessment
c) Viability Study
d) Evaluating business models
e) Project Finance
f) Working Capital Management, etc.
I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like
a) Project Finance
b) Credit Risk Assessment
c) Entrepreneurship Development
d) Finance for Non Finance Executives
e) Burning Desire for Entrepreneurship
I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.