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What is the role of general accountant?

Records and reports financial transactions and manages revenue, expense, asset, liability and equity accounts. Responsible for recording accounting adjustments, accruals, allocations, currency revaluations and translations.

What is the concept of general accounting?

Accounting is defined as the process of reporting, recording, interpreting, and summarizing financial transactions of any business entity. Accounting or preparing of accounts is primarily undertaken to help the management of a company to take effective decisions with the help of financial statements of the business. Basics of Accounting (Theory) on Basic Concepts Important Terms testbook.com ugc-net-commerce basics-of-acc testbook.com ugc-net-commerce basics-of-acc

What falls under general accounting?

Definition for : General accounting The AIM of general accounting is to record and to translate into figures, all of the operations that an entity, usually a company, has carried out during the course of a financial year investments, financing, Sales, acquisition of Raw materials, payment of wages, rent, etc.

What is general accounting process?

The steps in the accounting cycle are identifying transactions, recording transactions in a journal, posting the transactions, preparing the unadjusted trial balance, analyzing the worksheet, adjusting journal entry discrepancies, preparing a financial statement, and closing the books.

What are the basics of general accounting?

What are the basics of accounting? Basic accounting concepts used in the business world cover revenues, expenses, assets, and liabilities. These elements are tracked and recorded in documents including balance sheets, income statements, and cash flow statements.

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