Using Parallel Accounting in the General Ledger to Apply Different Accounting Principles at the Same Time

Objectives
After completing this lesson, you will be able to:

After completing this lesson, you will be able to:

  • Describe how general ledger accounting allows performance of parallel accounting

Parallel Accounting

Definition and Use of Ledger

Universal Journal as single source of truth - Ledger

Example of Ledger

Bike Company - Ledger Example

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