AIOU SOLVED ASSIGNMENT 1 CODE 438 AUTUMN 2016
Aiou solved assignment 1 code 438 for the semester autumn 2016 for Bachelor of Commerce students of Open University. This is aiou solved assignment # 1 for code 438 subject naming principles of accounting. You may search on google as follow mentioned words:- solved assignment 1 code 438 autumn 2016, aiou code 438 solved assignment 1 autumn 2016, aiou solved assignment 1 code 438 spring 2017, b.com code 438 aiou solved assignment 1, autumn 2016 aiou solved assignment 1 code 438.
This is related especially for basics of accounting and book keeping for the beginner who want to learn about accounting and wants to become a professional accounting. So this aiou solved assignment 1 code 438 autumn is full filling your purpose.
WHAT IS A JOURNAL?
In accounting and bookkeeping, a journal is a record of financial transactions in order by date. A journal is often defined as the book of original entry. The definition was more appropriate when transactions were written in a journal prior to manually posting them to the accounts in the general ledger or subsidiary ledger. Manual systems usually had a variety of journals such as a sales journal, purchases journal, cash receipts journal, cash disbursements journal, and a general journal. The journal is an important book under the double-entry system. Journal is the first book of systematic record of the financial transactions of the business. Journal is called the book of original or prime entry, because its financial transactions are first of all recorded in this book as and when they take place. Journal is also called a subsidiary book as it is maintained to help prepare the main book called the ledger. The journal is prepared with the help of memorandum or waste book, which is a rough and temporary record of the financial transactions of the business.