β SUMMARIZING CHANGES IN FINANCIAL POSITION [PART : 3] β

ALL ABOUT ACCOUNTING : 42nd BLOG π ACCOUNTINGπ β
Accounting exercise and practices : Lesson : 4 [Part : 3] Hi friends π Today's discuss remaining part of summarizing changes in financial position So let's discuss .... β
SUMMARIZING CHANGES IN FINANCIAL POSITION : π₯ THE LEDGER ACCOUNTS : A ledger accounts represent the accumulation of all information βΉοΈ about changes in an asset, liability, equity, revenue or expense item in one palce. For example, a ledger account for the asset cash would record each cash disbursement the organization made in a period as well as all cash which was received by the organization. By recording all cash that goes into and out of the organization, the ledger account provides a record of how much cash the organization has at any given time. Each ledger acc...