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Financial Accounting by R. Lalitha, V. Rajasekaran

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Chapter 4a

Accounting Process — Journal

LEARNING OBJECTIVES

After studying this chapter, you will be able to understand

  1. Concept of Accounting Process — Important Stages

  2. Meaning of Business Transaction and Its Classification

  3. Meaning of Account and Its Classification

  4. Classification of Accounts — Identification of Category

  5. Meaning of Double Entry

  6. Methods of Recording Business Transactions

  7. Traditional Approach for Recording Business Transaction and Debit-Credit Rules for Three Types of Accounts

  8. Meaning and Format of Journal

  9. Meaning of Journalising

  10. To Analyse Business Transactions

  11. To Record the Result of Analysis in Journal

  12. Types of Entries

  13. Source Documents — Format and Uses

  14. Trade Discount and Cash Discount — Features and Method of Recording ...

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