Source Documents & Books of Original Entry

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What is Journal and how many types of journals are in accounting?

By Hasaan Fazal on April 16, 2013

These are the first formal books in which information regarding transaction is recorded . For the same reason they are also named as books of prime entry or books of original entry or day books. While making a record certain format is followed that only summarizes the information but also keep the value of information […]

Posted in ACCA, ACCA - F3, Accounting Concepts & Conventions, Accounts & Ledgers, Books of Prime Entries, Books of Prime Entry (Journals), CA, CAT, CAT - T1, CAT - T3, CAT - T6, CFA, CIMA, FA1, FA2, FFA, FIA, Financial Accounting, Module B, Module C, Source Documents & Books of Original Entry | Leave a response

What is Credit note and when is it used?

By Hasaan Fazal on November 9, 2012

A credit note is a source document providing evidence that a credit entry has been made in the financial records for specific reason which is explained on the face of this business document. Credit note is also known as credit memo or credit memorandum as it only notifies about the entry made in the financial […]

Posted in ACCA, ACCA - F3, ACCA - F8, Accounts & Ledgers, Accruals and Prepayments, Audit Documentation, Audit Evidence, Audit Evidence - Substantive Procedures, CA, CAT, CAT - T1, CAT - T3, CAT - T6, CAT - T8, Control Accounts, FA1, FA2, FAU, FFA, FIA, Financial Account Basics, Financial Accounting, IAS 2, Introduction to Auditing - Basics, Inventory, Module B, Module C, Rectification of Errors, Sales Tax, Single Entry and Incomplete Records, Source Documents & Books of Original Entry | Leave a response

What is Folio coloumn and its use?

By Hasaan Fazal on April 10, 2011

Folio, as in its literal meanings also, means a sequence of number of words for the purposes of dividing a book into meaningful parts or just for reference. Same goes for its use in accounting as well. Folio coloumn is used in Journals as well as in Ledgers. It usually contains the reference in forms […]

Posted in ACCA, ACCA - F3, Accounts & Ledgers, CA, CAT, CAT - T1, CAT - T3, FA1, FA2, FIA, Financial Accounting, Module B, Source Documents & Books of Original Entry | 1 Response