FINANCIAL ACCOUNTING (F 3)

anchit.middha
Posts: 5
Joined: Sat Aug 13, 2016 5:53 am

FINANCIAL ACCOUNTING (F 3)

Postby anchit.middha » Mon Oct 24, 2016 12:58 pm

I have not understood the following from session 12 i.e. BOOKS OF PRIME ENTRY AND CONTROL ACCOUNTS

1. non imprest methods
2. memorandum ledger
3. discrepencies

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edupristine
Finance Junkie
Posts: 722
Joined: Wed Apr 09, 2014 6:28 am

Re: FINANCIAL ACCOUNTING (F 3)

Postby edupristine » Tue Oct 25, 2016 6:42 am

Hi Anchit

Non imprest methods- In this method there is no such rule with a fixed amount that is spend every month.

Memorandum Ledger- A memorandum entry is a short message entered into the general journal and also entered into a general ledger account. It is not a complete journal entry because it does not contain debit and credit amounts.

Discrepancy- A discrepancy is a lack of agreement or balance. If there is a discrepancy between the money you earned and the number on your paycheck, you should complain to your boss.


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