What is the general accounting

Question

Accepted Answer

General accounting refers to the process of recording, summarizing, and reporting financial transactions of an organization.

General accounting involves recording all financial transactions of a company, such as sales, purchases, expenses, and payments.
It includes the preparation of financial statements, such as the balance sheet, income statement, and cash flow statement.
General accounting ensures compliance with accounting principles and standards, such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).
It involves maintaining accurate and up-to-date records of assets, liabilities, equity, revenue, and expenses.
General accounting provides insights into the financial health and performance of a company, helping management make informed decisions.
Examples of general accounting tasks include journal entries, reconciliations, financial analysis, and budgeting.

Accepted Answer

the centralized, up-to-date reference for the rendering of accounts

Accepted Answer

General Ledger (G/L) accounts are used to provide a of external accounting and accounts and to record all the business transactions in a SAP system

Accepted Answer

Entry in FS00 general Accounting Means you can Create a 1 general account & then Start entry

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