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DHA COLLEGE FOR WOMEN PHASEVIII PRESENTATION-1 MRS. FOUZIA NASIR ASST PROFESSOR COMMERCE DEPARTMENT JUNE 30 TH 2011.

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Presentation on theme: "DHA COLLEGE FOR WOMEN PHASEVIII PRESENTATION-1 MRS. FOUZIA NASIR ASST PROFESSOR COMMERCE DEPARTMENT JUNE 30 TH 2011."— Presentation transcript:

1 DHA COLLEGE FOR WOMEN PHASEVIII PRESENTATION-1 MRS. FOUZIA NASIR ASST PROFESSOR COMMERCE DEPARTMENT JUNE 30 TH 2011

2 ACCOUNTING CYCLE 1. JOURNALIZING 2. LEDGER POSTING 3. TRIAL BALANCE 4. ADJUSTMENT 5. ADJUSTED TRIAL BALANCE 6. INCOME STATEMENT 7. BALANCE SHEET

3 JOURNALIZING 1. Recording of transactions in chronological order 2. No memorandum entry will be recorded in general journal 3. Journal includes every type of transaction 4.Proper format should be considered

4 TYPES OF JOURNAL 1.Two types of journals a) General journal b) special Journal 2.General journal includes all type of transactions 3. Special journals include related transactions Special journals include credit transactions only

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