ACCOUNTING EXPERTISE

ALL ABOUT ACCOUNTING : 40th BLOG        💎 💎 ACCOUNTING💎💎 ★ Accounting exercise and practices :   Lesson : 4 [Part : 1] Hi friends  🙏 Today's discuss summarizing changes in financial position                               So let's discuss .... ★  SUMMARIZING CHANGES IN FINANCIAL POSITION : The purpose of this lesson is to show how to summarize the transactions which were recorded  during the last session. The general ledger 📒 and ledger accounts are explained leading to account balances and finally a trial balance, adjustments are made resulting final account balances which are transferred to the corresponding accounts on the financial statements.       you will develop a good understanding of how transactions move from individual records to the creation of the balance sheet and income statement. Topics include : The general ledger  Ledger accounts  Account balances  Trial balance Adjustment  In the last lesson. We covered journal entries and how they are recorded in the g