Post by account_disabled on Mar 10, 2024 10:09:42 GMT
The journal that you must know but also how to make it. Fill in the following form to get a free demo of the HRIS application today. FULL NAME EMAIL MOBILE PHONE NUMBER COMPANY NAME WHAT JOJONOMIC FEATURES DO YOU WANT TO TRY ROperationIntelligence WHAT PROBLEMS AND SOLUTIONS DO YOU EXPECT of max characters For those of you who want to know more about this journal come on keep reading this article. Because here it will be discussed simply accompanied by examples so that it can make it easier for you to understand.
What is Closing Journal Closing journals are journals made at the end of each period in accounting. It is Job Function Email List created from the cost accounts and expense accounts of a company. Cost accounts are recorded in the profit and loss statement while cost accounts will be recorded in the companys balance sheet. After these accounts are closed the balance will be zero . These closed accounts are temporary accounts used by the company to record the flow of money goods and assets during the companys operating period. It is from these accounts that closing journals are made and displayed in the companys balance sheet.
The results of the journal that has been made must be equal to zero so that all income and costs incurred in the period will not be included in the next period. Also read general journals and special journals Function of Closing Journal After knowing the meaning of a general journal you are also required to know several functions of a closing journal for reporting and financial management purposes namely Making all temporary calculation accounts become zero why is it important that they become zero This illustrates that in the operating process the company has a balanced exchange of goods such as costs incurred and goods spent.
What is Closing Journal Closing journals are journals made at the end of each period in accounting. It is Job Function Email List created from the cost accounts and expense accounts of a company. Cost accounts are recorded in the profit and loss statement while cost accounts will be recorded in the companys balance sheet. After these accounts are closed the balance will be zero . These closed accounts are temporary accounts used by the company to record the flow of money goods and assets during the companys operating period. It is from these accounts that closing journals are made and displayed in the companys balance sheet.
The results of the journal that has been made must be equal to zero so that all income and costs incurred in the period will not be included in the next period. Also read general journals and special journals Function of Closing Journal After knowing the meaning of a general journal you are also required to know several functions of a closing journal for reporting and financial management purposes namely Making all temporary calculation accounts become zero why is it important that they become zero This illustrates that in the operating process the company has a balanced exchange of goods such as costs incurred and goods spent.