When a person or group of persons establishes a project, then an accountant or a group of accountants is appointed to re...

The basis for existence of accounting is the presence of financial transactions in the entity; the entity's purchase or...

The document is a paper that proves the actual occurrence of a particular financial transaction. Before recording the fi...

After the financial transaction occurs and is proven by direct and indirect documents, as previously explained, then it...

After determining the accounts that are affected by the financial transaction and determining its type, the third step o...

After the financial transaction is analyzed and the debit and credit accounts are identified, then comes the step of rec...

After the financial transaction is recorded in the General Journal in the form of accounting entries, these entries are...

After performing the process of posting into the General Ledger and Subsidiary Ledgers and the balancing of the accounts...

After preparing the trial balance and reviewing the accounts, the balances of some accounts may need to be changed, by r...