Resource

The following provides good resources/knowledge whether accounting, financial, business or finance related daily news:

http://www.businessweek.com/

http://money.cnn.com/

http://www.cfo.com/

http://www.cfoasia.com/

Also check out these links to:

Respective Accountancy Professional Bodies

Reputable World Universities

Auditing Professional Bodies:

The Institute of Internal Auditors

Established in 1941, IIA is an international professional association of more than 122,000 members with global headquarters in Altamonte Springs, Fla., United States. Throughout the world, The IIA is recognized as the internal audit profession’s leader in certification, education, research, and technological guidance. IIA has 246 affiliates that serve IIA members at the local level. The Institute currently has members in 160 countries

The Association of Certified Fraud Examiners (ACFE)

A 36,000 member-based global association dedicated to providing anti-fraud education and training. Together with its members, the ACFE is reducing business fraud worldwide and inspiring public confidence in the integrity and objectivity of our profession.

The Different Types Of Journals Or Books Of Prime or Original Entry Shown In The Accounting Cycle

Journal is also called the Book Of Prime Or Original Entry.

 

The purposes of Journal are as follows:

 

• Records in one place the complete effects of a transaction
• Provides a chronological record of transaction
• Helps to prevent or locate errors because the debit and credit amounts  for each entry could be readily compared

 

 

The Standard form and Content of journal entries are as follows:

 

• Date
• Name of account to be debited and the amount
• Name of the account to be credited and the amount
• Description and explanation of the transaction ( ie narrative)
• Reference number for the source documents giving proof of the transaction

 

 

( Journalizing is a term used to mean the entering transaction data in the journal )

 

Click to respective Journal:

 

Cash Receipts Journal

Cash Payments Journal

Purchases Journal

Sales Journal

General Journal