-
Accounting Fundamentals | Posting to the Ledger
Mark Farber explains the next step after journalizing: posting to the ledger. This step ensures that we transfer the entries in the journal to the accounts in the ledger. The ledger is a complete record of transactions over a company’s lifetime.
__
Next Video -
Accounting Fundamentals | Trail Balance
https://youtu.be/CfHZFzMcWSw
Previous Video –
Accounting Fundamentals | Journalizing
https://youtu.be/21lGDcV2y6E
published: 31 Aug 2017
-
Woods of Ypres - Keeper of the Ledger (Official Audio)
Woods of Ypres CD/Vinyl/Merch - https://webstore.earache.com/woods-of-ypres
Spotify - https://spoti.fi/2HUHpDf
iTunes - https://apple.co/2OwrJr0
Deezer - https://bit.ly/2JLFwLq
#woodsofypres #keeperoftheledger #greyskiesandelectriclight #earacherecords
published: 15 Jan 2014
-
General Ledger (T Accounts) | Explained with Examples | Accounting Basics
In this basic accounting lesson, we explain what the General ledger (T accounts) is, why we record transactions in the General ledger (T accounts), and how to record the transactions. We go through various examples where we post to the general ledger (t accounts). We also show how to post to the general ledger from journals as well as how to close off/balance off the t accounts (general ledger).
Check out other straightforward examples on our channel.
Posting from Journals to Ledgers | with Examples: https://youtu.be/MuHEONNRabg
How to easily Remember DEBITS and CREDITS | Simple Tip: https://youtu.be/_AKoCgOlTcw
Debit and Credit Explained | Accounting Basics: https://youtu.be/qBTpJSiAJBw
Accounting Equation Explained | Accounting For Beginners: https://youtu.be/0H506eq8DZQ
Bank Recon...
published: 26 Nov 2019
-
Posting to a Ledger
How to post journal entries to a general ledger.
published: 14 May 2017
-
LEDGER: Not Dead Yet [OFFICIAL VIDEO]
LEDGER's official video for her track 'Not Dead Yet' off of her new debut EP - Available now on Atlantic Records.
download your copy today at http://ledgerband.com
Connect with LEDGER:
Facebook: https://facebook.com/ledgerbandofficial
Twitter: https://twitter.com/jenledger
Instagram: https://instagram.com/jenledger
Website: http://www.ledgerband.com
Lyrics
Called to the ring
Taking me round by round
It hurts and it stings
Taking me down, down, down
You think that you caught me
I can hear you taunt me
Fractured and I'm falling down
My enemy is watching me bleed
I’m not dead yet
So watch me burn
Go on trying, lying, you’re so sure
I may be broken
But I’m not done
I’ll go on fighting, while there’s breath in my lungs
Cause I’m not dead yet
No I’m not dead yet
You wait for the day
That I...
published: 17 Aug 2018
-
What Is A Ledger? [Blockchain & Cryptocurrency (Bitcoin, Ethereum)]
🚀 Get 100% Off Your First Month with CustomGPT! 🚀
Sign up for a Standard CustomGPT.ai subscription using my referral link and enjoy 100% off your first month. Plus, you'll help support my channel with a 15% commission at no extra cost to you!
🔗 Referral Link: https://customgpt.ai/?fpr=sonarsystems
🎟️ Coupon Code: AFFILIATEPARTNER ⭐ Kite is a free AI-powered coding assistant that will help you code faster and smarter. The Kite plugin integrates with all the top editors and IDEs to give you smart completions and documentation while you’re typing. I've been using Kite for 6 months and I love it! https://www.kite.com/get-kite/?utm_medium=referral&utm_source=youtube&utm_campaign=sonarsystems&utm_content=description-only
Full Course On Udemy Discounted Coupon 95% OFF - https://www.udemy.com/b...
published: 10 Apr 2018
-
What is a General Ledger? (Recording Nonprofit Transactions)
Watch 2021 Updated Video Here: https://www.youtube.com/watch?v=AoVxJ4JwMtM
Aplos Software was created for nonprofits like yours. Watch this demo to learn more: https://aplos.us/demo
What is a general ledger? A general ledger is a list of transactions by account. In this lesson, you’ll learn what transactions are, how and when to record them, and how they impact your nonprofit's accounting system.
Would you like to learn more about fund accounting? Sign-up for our FREE accounting course here: https://aplos.us/accounting-course
Ready to try Aplos Software? Start your 15-day free trial today:https://aplos.us/free-trial
published: 01 Dec 2014
-
What is a general ledger
What is a general ledger? The general ledger is the backbone of any accounting system which holds financial data for an organization.
Until the 1970s and 1980s, recording entries manually in big ledger books, was the way to go! You would have separate subledger books, such as payroll, cash, inventory, receivables, and many others depending on the type of company. From each of these subledger books, summary amounts would be transferred manually into a central place called the general ledger. As you can imagine, due to the manual nature of the process, this process is prone to errors like writing 51 instead of 15.
Today’s enterprise resource planning systems are a lot less manual, and the closing cycle tends to be a lot faster, but the general idea of subledgers and general ledger is still...
published: 04 Apr 2019
-
What is Bitcoin mining? Maintaining the ledger | Learn with Luno
one can think of Bitcoin as one big global ledger system that records transactions (or ‘moving money’) between one person to another. Whenever Bitcoin transactions are processed on the Bitcoin network – that means Bitcoin is moved from one person to another – someone has to make sure all the transactions are recorded properly and that the ledgers on all the systems are synchronized all over the world.
In the case of Bitcoin, this process is not done by people or companies, but by thousands of computers all over the world that are all connected to the internet. These computers are knowns as ‘miners’, but they should really simply be called ‘computers that process transactions’.
To learn more, visit https://www.luno.com/learn/en/article/what-is-bitcoin-mining
published: 10 May 2018
6:39
Accounting Fundamentals | Posting to the Ledger
Mark Farber explains the next step after journalizing: posting to the ledger. This step ensures that we transfer the entries in the journal to the accounts in t...
Mark Farber explains the next step after journalizing: posting to the ledger. This step ensures that we transfer the entries in the journal to the accounts in the ledger. The ledger is a complete record of transactions over a company’s lifetime.
__
Next Video -
Accounting Fundamentals | Trail Balance
https://youtu.be/CfHZFzMcWSw
Previous Video –
Accounting Fundamentals | Journalizing
https://youtu.be/21lGDcV2y6E
https://wn.com/Accounting_Fundamentals_|_Posting_To_The_Ledger
Mark Farber explains the next step after journalizing: posting to the ledger. This step ensures that we transfer the entries in the journal to the accounts in the ledger. The ledger is a complete record of transactions over a company’s lifetime.
__
Next Video -
Accounting Fundamentals | Trail Balance
https://youtu.be/CfHZFzMcWSw
Previous Video –
Accounting Fundamentals | Journalizing
https://youtu.be/21lGDcV2y6E
- published: 31 Aug 2017
- views: 71605
6:06
Woods of Ypres - Keeper of the Ledger (Official Audio)
Woods of Ypres CD/Vinyl/Merch - https://webstore.earache.com/woods-of-ypres
Spotify - https://spoti.fi/2HUHpDf
iTunes - https://apple.co/2OwrJr0
Deezer - https...
Woods of Ypres CD/Vinyl/Merch - https://webstore.earache.com/woods-of-ypres
Spotify - https://spoti.fi/2HUHpDf
iTunes - https://apple.co/2OwrJr0
Deezer - https://bit.ly/2JLFwLq
#woodsofypres #keeperoftheledger #greyskiesandelectriclight #earacherecords
https://wn.com/Woods_Of_Ypres_Keeper_Of_The_Ledger_(Official_Audio)
Woods of Ypres CD/Vinyl/Merch - https://webstore.earache.com/woods-of-ypres
Spotify - https://spoti.fi/2HUHpDf
iTunes - https://apple.co/2OwrJr0
Deezer - https://bit.ly/2JLFwLq
#woodsofypres #keeperoftheledger #greyskiesandelectriclight #earacherecords
- published: 15 Jan 2014
- views: 26609
14:52
General Ledger (T Accounts) | Explained with Examples | Accounting Basics
In this basic accounting lesson, we explain what the General ledger (T accounts) is, why we record transactions in the General ledger (T accounts), and how to r...
In this basic accounting lesson, we explain what the General ledger (T accounts) is, why we record transactions in the General ledger (T accounts), and how to record the transactions. We go through various examples where we post to the general ledger (t accounts). We also show how to post to the general ledger from journals as well as how to close off/balance off the t accounts (general ledger).
Check out other straightforward examples on our channel.
Posting from Journals to Ledgers | with Examples: https://youtu.be/MuHEONNRabg
How to easily Remember DEBITS and CREDITS | Simple Tip: https://youtu.be/_AKoCgOlTcw
Debit and Credit Explained | Accounting Basics: https://youtu.be/qBTpJSiAJBw
Accounting Equation Explained | Accounting For Beginners: https://youtu.be/0H506eq8DZQ
Bank Reconciliation Statement Explained | FULL EXAMPLE: https://youtu.be/GjjvV1dUKrw
Join our live sessions: https://counttuts.com/events/
We also offer one-on-one tutorials at reasonable rates.
Connect with us:
Email:
[email protected]
Our Website: https://Counttuts.com
Our Facebook Page: https://www.facebook.com/Counttuts/
Support our Efforts: paypal.me/counttuts
https://wn.com/General_Ledger_(T_Accounts)_|_Explained_With_Examples_|_Accounting_Basics
In this basic accounting lesson, we explain what the General ledger (T accounts) is, why we record transactions in the General ledger (T accounts), and how to record the transactions. We go through various examples where we post to the general ledger (t accounts). We also show how to post to the general ledger from journals as well as how to close off/balance off the t accounts (general ledger).
Check out other straightforward examples on our channel.
Posting from Journals to Ledgers | with Examples: https://youtu.be/MuHEONNRabg
How to easily Remember DEBITS and CREDITS | Simple Tip: https://youtu.be/_AKoCgOlTcw
Debit and Credit Explained | Accounting Basics: https://youtu.be/qBTpJSiAJBw
Accounting Equation Explained | Accounting For Beginners: https://youtu.be/0H506eq8DZQ
Bank Reconciliation Statement Explained | FULL EXAMPLE: https://youtu.be/GjjvV1dUKrw
Join our live sessions: https://counttuts.com/events/
We also offer one-on-one tutorials at reasonable rates.
Connect with us:
Email:
[email protected]
Our Website: https://Counttuts.com
Our Facebook Page: https://www.facebook.com/Counttuts/
Support our Efforts: paypal.me/counttuts
- published: 26 Nov 2019
- views: 417768
10:13
Posting to a Ledger
How to post journal entries to a general ledger.
How to post journal entries to a general ledger.
https://wn.com/Posting_To_A_Ledger
How to post journal entries to a general ledger.
- published: 14 May 2017
- views: 317789
3:37
LEDGER: Not Dead Yet [OFFICIAL VIDEO]
LEDGER's official video for her track 'Not Dead Yet' off of her new debut EP - Available now on Atlantic Records.
download your copy today at http://ledgerband....
LEDGER's official video for her track 'Not Dead Yet' off of her new debut EP - Available now on Atlantic Records.
download your copy today at http://ledgerband.com
Connect with LEDGER:
Facebook: https://facebook.com/ledgerbandofficial
Twitter: https://twitter.com/jenledger
Instagram: https://instagram.com/jenledger
Website: http://www.ledgerband.com
Lyrics
Called to the ring
Taking me round by round
It hurts and it stings
Taking me down, down, down
You think that you caught me
I can hear you taunt me
Fractured and I'm falling down
My enemy is watching me bleed
I’m not dead yet
So watch me burn
Go on trying, lying, you’re so sure
I may be broken
But I’m not done
I’ll go on fighting, while there’s breath in my lungs
Cause I’m not dead yet
No I’m not dead yet
You wait for the day
That I'll be counted out
You stand at my grave
Already breaking ground
But I don't think you know me
There's a side you don't see
Been to hell and made it out
My enemy, Ill watch you bleed
I'm still awake
I won't go away
It’s gonna take more than you can bring
Calling my name
Heavens calling my name
https://wn.com/Ledger_Not_Dead_Yet_Official_Video
LEDGER's official video for her track 'Not Dead Yet' off of her new debut EP - Available now on Atlantic Records.
download your copy today at http://ledgerband.com
Connect with LEDGER:
Facebook: https://facebook.com/ledgerbandofficial
Twitter: https://twitter.com/jenledger
Instagram: https://instagram.com/jenledger
Website: http://www.ledgerband.com
Lyrics
Called to the ring
Taking me round by round
It hurts and it stings
Taking me down, down, down
You think that you caught me
I can hear you taunt me
Fractured and I'm falling down
My enemy is watching me bleed
I’m not dead yet
So watch me burn
Go on trying, lying, you’re so sure
I may be broken
But I’m not done
I’ll go on fighting, while there’s breath in my lungs
Cause I’m not dead yet
No I’m not dead yet
You wait for the day
That I'll be counted out
You stand at my grave
Already breaking ground
But I don't think you know me
There's a side you don't see
Been to hell and made it out
My enemy, Ill watch you bleed
I'm still awake
I won't go away
It’s gonna take more than you can bring
Calling my name
Heavens calling my name
- published: 17 Aug 2018
- views: 5842128
5:32
What Is A Ledger? [Blockchain & Cryptocurrency (Bitcoin, Ethereum)]
🚀 Get 100% Off Your First Month with CustomGPT! 🚀
Sign up for a Standard CustomGPT.ai subscription using my referral link and enjoy 100% off your first month. ...
🚀 Get 100% Off Your First Month with CustomGPT! 🚀
Sign up for a Standard CustomGPT.ai subscription using my referral link and enjoy 100% off your first month. Plus, you'll help support my channel with a 15% commission at no extra cost to you!
🔗 Referral Link: https://customgpt.ai/?fpr=sonarsystems
🎟️ Coupon Code: AFFILIATEPARTNER ⭐ Kite is a free AI-powered coding assistant that will help you code faster and smarter. The Kite plugin integrates with all the top editors and IDEs to give you smart completions and documentation while you’re typing. I've been using Kite for 6 months and I love it! https://www.kite.com/get-kite/?utm_medium=referral&utm_source=youtube&utm_campaign=sonarsystems&utm_content=description-only
Full Course On Udemy Discounted Coupon 95% OFF - https://www.udemy.com/bitcoin-ethereum-blockchain/?couponCode=YOUTUBE
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Udemy Coupons
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For all new courses feel free to ask for a coupon, enjoy.
If you like this stuff, as always, show the love through comments, likes, favorites, subscriptions, etc.
Thousands of free videos at
www.sonarlearning.co.uk
If you have any questions feel free to post them at
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Our Website
http://www.sonarsystems.co.uk/
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Our games made using Cocos2d-x
------------------------------------------------------
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Google Play: https://play.google.com/store/apps/developer?id=Sonar+Systems
Check out our Cocos2d-x book to learn how to make games https://www.packtpub.com/game-development/cocos2d-x-game-development-essentials
https://wn.com/What_Is_A_Ledger_Blockchain_Cryptocurrency_(Bitcoin,_Ethereum)
🚀 Get 100% Off Your First Month with CustomGPT! 🚀
Sign up for a Standard CustomGPT.ai subscription using my referral link and enjoy 100% off your first month. Plus, you'll help support my channel with a 15% commission at no extra cost to you!
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🎟️ Coupon Code: AFFILIATEPARTNER ⭐ Kite is a free AI-powered coding assistant that will help you code faster and smarter. The Kite plugin integrates with all the top editors and IDEs to give you smart completions and documentation while you’re typing. I've been using Kite for 6 months and I love it! https://www.kite.com/get-kite/?utm_medium=referral&utm_source=youtube&utm_campaign=sonarsystems&utm_content=description-only
Full Course On Udemy Discounted Coupon 95% OFF - https://www.udemy.com/bitcoin-ethereum-blockchain/?couponCode=YOUTUBE
Like our content and want to support us more directly? Help Us, Help You! https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=6DF2Q8TR5FB3E
Udemy Coupons
"Here are coupons for all of my udemy courses:
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-Tic-Tac-Toe SFML [50% OFF] - https://www.udemy.com/tic-tac-toe-sfml/?couponCode=SFMLTTT-50OFF
-Cocos2d-x Game Development [90% OFF] - https://www.udemy.com/cocos2d-x-v3-cpp/?couponCode=90-PERCENT-OFF
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-Swift Programming [87.5% OFF] - https://www.udemy.com/swift-ios-mac/?couponCode=DISCOUNT_10
For all new courses feel free to ask for a coupon, enjoy.
If you like this stuff, as always, show the love through comments, likes, favorites, subscriptions, etc.
Thousands of free videos at
www.sonarlearning.co.uk
If you have any questions feel free to post them at
http://www.sonarlearning.co.uk/questions.php
Our Website
http://www.sonarsystems.co.uk/
Facebook - https://www.facebook.com/pages/Sonar-Systems/581403125243822
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Google+ - https://plus.google.com/+SonarsystemsCoUk/
Donate - https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=6DF2Q8TR5FB3E
Our games made using Cocos2d-x
------------------------------------------------------
iOS: https://itunes.apple.com/us/artist/sonar-systems/id672545941
Google Play: https://play.google.com/store/apps/developer?id=Sonar+Systems
Check out our Cocos2d-x book to learn how to make games https://www.packtpub.com/game-development/cocos2d-x-game-development-essentials
- published: 10 Apr 2018
- views: 12153
5:12
What is a General Ledger? (Recording Nonprofit Transactions)
Watch 2021 Updated Video Here: https://www.youtube.com/watch?v=AoVxJ4JwMtM
Aplos Software was created for nonprofits like yours. Watch this demo to learn more...
Watch 2021 Updated Video Here: https://www.youtube.com/watch?v=AoVxJ4JwMtM
Aplos Software was created for nonprofits like yours. Watch this demo to learn more: https://aplos.us/demo
What is a general ledger? A general ledger is a list of transactions by account. In this lesson, you’ll learn what transactions are, how and when to record them, and how they impact your nonprofit's accounting system.
Would you like to learn more about fund accounting? Sign-up for our FREE accounting course here: https://aplos.us/accounting-course
Ready to try Aplos Software? Start your 15-day free trial today:https://aplos.us/free-trial
https://wn.com/What_Is_A_General_Ledger_(Recording_Nonprofit_Transactions)
Watch 2021 Updated Video Here: https://www.youtube.com/watch?v=AoVxJ4JwMtM
Aplos Software was created for nonprofits like yours. Watch this demo to learn more: https://aplos.us/demo
What is a general ledger? A general ledger is a list of transactions by account. In this lesson, you’ll learn what transactions are, how and when to record them, and how they impact your nonprofit's accounting system.
Would you like to learn more about fund accounting? Sign-up for our FREE accounting course here: https://aplos.us/accounting-course
Ready to try Aplos Software? Start your 15-day free trial today:https://aplos.us/free-trial
- published: 01 Dec 2014
- views: 192329
3:48
What is a general ledger
What is a general ledger? The general ledger is the backbone of any accounting system which holds financial data for an organization.
Until the 1970s and 1980s...
What is a general ledger? The general ledger is the backbone of any accounting system which holds financial data for an organization.
Until the 1970s and 1980s, recording entries manually in big ledger books, was the way to go! You would have separate subledger books, such as payroll, cash, inventory, receivables, and many others depending on the type of company. From each of these subledger books, summary amounts would be transferred manually into a central place called the general ledger. As you can imagine, due to the manual nature of the process, this process is prone to errors like writing 51 instead of 15.
Today’s enterprise resource planning systems are a lot less manual, and the closing cycle tends to be a lot faster, but the general idea of subledgers and general ledger is still the same. For example, in an ERP system like SAP, original documents are registered in the accounts receivable subledger by customer account, and in the accounts payable subledger by vendor account. The amounts posted in the subledger are then transferred from the subledger to accounts in the general ledger. Subledgers generally hold a lot more detail than the general ledger.
Compared to the manual process of recording entries, computerized systems have the advantage of validation rules that can prevent a user from posting if a journal entry is not balanced. This can save a lot of time “downstream” in the accounting process.
Here’s how that process works all the way from recording individual transactions to preparing financial statements. Transactions based on source documents are recorded in the appropriate subledger (payroll, cash, inventory, receivables, payables, fixed assets, etcetera). The subledger activity is then posted as debits and credits to the appropriate accounts in the general ledger. The listing of the account names is called the chart of accounts. Getting a transaction into the general ledger can be done through a subledger, but also through a manual journal entry directly into the general ledger. The extraction of account balances is called a trial balance. The purpose of the trial balance is to ensure that the value of all the debit value balances equal the total of all the credit value balances, and that the individual balances per account or per group of accounts makes sense.
If an error is found in the trial balance, the finance team goes through a process to rectify errors. Some of these errors may be very easy to correct, others might take a substantial amount of analysis. Is there an error in the general ledger itself? Is there an error in how the data from the subledger is posted in the general ledger? Or is there an error in how the data was recorded in the subledger, or any of the manual journal entries? Or in the source documents themselves? Find the error, and correct it.
Once the trial balance is deemed accurate, the next step in the process can be taken: preparing the financial statements (income statement, balance sheet, cash flow statement). Using the financial statements, you can connect the financial numbers to the operational reality, by calculating financial ratios and analyzing the trends.
The general ledger is the backbone of any accounting system. It is the central repository for accounting data transferred from all subledgers. Now that you understand how the general ledger works, you having taken another step to master #accountingbasics
Philip de Vroe (The Finance Storyteller) aims to make strategy, finance and leadership enjoyable and easier to understand. Learn the business and #accounting vocabulary to join the conversation with your CEO at your company. Understand how financial statements work in order to make better investing decisions. Philip delivers #financetraining in various formats: YouTube videos, classroom sessions, webinars, and business simulations. Connect with me through Linked In!
https://wn.com/What_Is_A_General_Ledger
What is a general ledger? The general ledger is the backbone of any accounting system which holds financial data for an organization.
Until the 1970s and 1980s, recording entries manually in big ledger books, was the way to go! You would have separate subledger books, such as payroll, cash, inventory, receivables, and many others depending on the type of company. From each of these subledger books, summary amounts would be transferred manually into a central place called the general ledger. As you can imagine, due to the manual nature of the process, this process is prone to errors like writing 51 instead of 15.
Today’s enterprise resource planning systems are a lot less manual, and the closing cycle tends to be a lot faster, but the general idea of subledgers and general ledger is still the same. For example, in an ERP system like SAP, original documents are registered in the accounts receivable subledger by customer account, and in the accounts payable subledger by vendor account. The amounts posted in the subledger are then transferred from the subledger to accounts in the general ledger. Subledgers generally hold a lot more detail than the general ledger.
Compared to the manual process of recording entries, computerized systems have the advantage of validation rules that can prevent a user from posting if a journal entry is not balanced. This can save a lot of time “downstream” in the accounting process.
Here’s how that process works all the way from recording individual transactions to preparing financial statements. Transactions based on source documents are recorded in the appropriate subledger (payroll, cash, inventory, receivables, payables, fixed assets, etcetera). The subledger activity is then posted as debits and credits to the appropriate accounts in the general ledger. The listing of the account names is called the chart of accounts. Getting a transaction into the general ledger can be done through a subledger, but also through a manual journal entry directly into the general ledger. The extraction of account balances is called a trial balance. The purpose of the trial balance is to ensure that the value of all the debit value balances equal the total of all the credit value balances, and that the individual balances per account or per group of accounts makes sense.
If an error is found in the trial balance, the finance team goes through a process to rectify errors. Some of these errors may be very easy to correct, others might take a substantial amount of analysis. Is there an error in the general ledger itself? Is there an error in how the data from the subledger is posted in the general ledger? Or is there an error in how the data was recorded in the subledger, or any of the manual journal entries? Or in the source documents themselves? Find the error, and correct it.
Once the trial balance is deemed accurate, the next step in the process can be taken: preparing the financial statements (income statement, balance sheet, cash flow statement). Using the financial statements, you can connect the financial numbers to the operational reality, by calculating financial ratios and analyzing the trends.
The general ledger is the backbone of any accounting system. It is the central repository for accounting data transferred from all subledgers. Now that you understand how the general ledger works, you having taken another step to master #accountingbasics
Philip de Vroe (The Finance Storyteller) aims to make strategy, finance and leadership enjoyable and easier to understand. Learn the business and #accounting vocabulary to join the conversation with your CEO at your company. Understand how financial statements work in order to make better investing decisions. Philip delivers #financetraining in various formats: YouTube videos, classroom sessions, webinars, and business simulations. Connect with me through Linked In!
- published: 04 Apr 2019
- views: 304260
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What is Bitcoin mining? Maintaining the ledger | Learn with Luno
one can think of Bitcoin as one big global ledger system that records transactions (or ‘moving money’) between one person to another. Whenever Bitcoin transacti...
one can think of Bitcoin as one big global ledger system that records transactions (or ‘moving money’) between one person to another. Whenever Bitcoin transactions are processed on the Bitcoin network – that means Bitcoin is moved from one person to another – someone has to make sure all the transactions are recorded properly and that the ledgers on all the systems are synchronized all over the world.
In the case of Bitcoin, this process is not done by people or companies, but by thousands of computers all over the world that are all connected to the internet. These computers are knowns as ‘miners’, but they should really simply be called ‘computers that process transactions’.
To learn more, visit https://www.luno.com/learn/en/article/what-is-bitcoin-mining
https://wn.com/What_Is_Bitcoin_Mining_Maintaining_The_Ledger_|_Learn_With_Luno
one can think of Bitcoin as one big global ledger system that records transactions (or ‘moving money’) between one person to another. Whenever Bitcoin transactions are processed on the Bitcoin network – that means Bitcoin is moved from one person to another – someone has to make sure all the transactions are recorded properly and that the ledgers on all the systems are synchronized all over the world.
In the case of Bitcoin, this process is not done by people or companies, but by thousands of computers all over the world that are all connected to the internet. These computers are knowns as ‘miners’, but they should really simply be called ‘computers that process transactions’.
To learn more, visit https://www.luno.com/learn/en/article/what-is-bitcoin-mining
- published: 10 May 2018
- views: 25359