Difference between revisions of "Ledger account"

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[[Ledger account]] (alternatively known as [[standard ledger account]] or, to distinguish it from [[T-account]]s, [[standard account]]; hereinafter, the ''Account'') is any [[financial account]] that includes columns for date, explanation, posting reference, debit, and credit, as long as it is included in a [[ledger]].
 
[[Ledger account]] (alternatively known as [[standard ledger account]] or, to distinguish it from [[T-account]]s, [[standard account]]; hereinafter, the ''Account'') is any [[financial account]] that includes columns for date, explanation, posting reference, debit, and credit, as long as it is included in a [[ledger]].
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==Definitions==
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According to [[College Accounting: A Practical Approach by Slater (13th edition)‎]],
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:[[Standard account]]. A formal account that includes columns for date, explanation, posting reference, [[debit]], and [[credit]].
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==Related concepts==
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*[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws.
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==Related lectures==
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*[[Principles of Accounting]].
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[[Category: International Accounting]][[Category: Articles]]

Latest revision as of 22:43, 4 January 2019

Ledger account (alternatively known as standard ledger account or, to distinguish it from T-accounts, standard account; hereinafter, the Account) is any financial account that includes columns for date, explanation, posting reference, debit, and credit, as long as it is included in a ledger.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Standard account. A formal account that includes columns for date, explanation, posting reference, debit, and credit.

Related concepts

Related lectures