A general ledger contains all balance sheet and income statement accounts. A general ledger controlling account represents a summary of transactions recorded in a subsidiary ledger. In turn, a ...

The direct write-off of accounts receivable is primarily used by small companies for financial reporting, but is required by all companies in determining their tax obligation to the Internal Revenue ...

How Ledgers and Journals Are Used in Accounting Get an overview of these fundamental bookkeeping tools. Ledgers and journals are the foundational tools used in the bookkeeping process. A ledger is a ...

Jason Fernando is a professional investor and writer who enjoys tackling and communicating complex business and financial problems. Amy is an ACA and the CEO and founder of OnPoint Learning, a ...

Eric's career includes extensive work in both public and corporate accounting with responsibilities such as preparing and reviewing federal, state, and local tax filings; supporting multinational ...