{"id":8723,"date":"2013-02-28T11:06:13","date_gmt":"2013-02-28T11:06:13","guid":{"rendered":"http:\/\/vskills.in\/certification\/tutorial\/?p=8723"},"modified":"2024-04-12T14:14:28","modified_gmt":"2024-04-12T08:44:28","slug":"ledger-2","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/ledger-2\/","title":{"rendered":"Business Accountant Tutorial | Ledger"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a ref=\"magnificPopup\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-11.png\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"400\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-11.png\" alt=\"ledger exam details\" class=\"wp-image-92133\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-11.png 750w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/MEANING-AND-SCOPE-OF-ACCOUNTING-11-300x160.png 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/a><\/figure><\/div>\n\n\n\n<p><a href=\"https:\/\/www.vskills.in\/certification\/tutorial\/business-accountant\/\" target=\"_blank\" rel=\"noreferrer noopener\">Go back to Tutorial<\/a><\/p>\n\n\n<p class=\"VSKILLbodytext\"><span lang=\"EN-US\">It is a principal book of accounts where similar transactions relating to a particular account are recorded. Ledger book contains accounts and is one of the most important books of account.<\/span><\/p>\n<p class=\"VSKILLbodytext\"><span lang=\"EN-US\">It is defined as a book or register which contains a permanent record of all transactions in a summarized and classified form. Since final information subject to the financial position of a business emerges only from accounts, hence it is also called the Principal Book. The ledger book contains all the information regarding the business and becomes very difficult to prepare final accounts in the absence of a ledger.<\/span><\/p>\n<p class=\"VSKILLbodytext\"><span lang=\"EN-US\">The proprietor is not interested to know the effect of individual transactions on the financial statements rather he wants the accumulated effect on a particular account at the end of a particular period. It provides necessary information regarding various accounts such as:<\/span><\/p>\n<p class=\"VSKILLbodytext\"><span lang=\"EN-US\">-Personal accounts in the ledger show how much money the firm owes to its creditors<\/span><\/p>\n<p class=\"VSKILLbodytext\"><span lang=\"EN-US\">-Amount to be recovered from its debtors.<\/span><\/p>\n<p class=\"VSKILLbodytext\"><span lang=\"EN-US\">-Real accounts show the value of properties and also the value of the stock.<\/span><\/p>\n<p class=\"VSKILLbodytext\"><span lang=\"EN-US\">-Nominal accounts reflect the sources of income and also the amount spent on various items.<\/span><\/p>\n<p class=\"VSKILLbodytext\"><span lang=\"EN-US\">-Financial position of the business concern can be ascertained easily at any time with the help of a ledger only.<\/span><\/p>\n<p>It provides the following necessary information:<\/p>\n<ul>\n<li>How much the firm owes to its creditors<\/li>\n<li>Amount to be received from its debtors.<\/li>\n<li>Real A\/c shows the value of properties and also the\n<ul>\n<li>value of the stock.<\/li>\n<li>Nominal accounts reflect the sources of income and also the amount spent on various items.<\/li>\n<\/ul>\n<p>The Financial position of the business concern can be ascertained easily at any time with the help of a ledger only. Below is the specimen of a Ledger A\/C<\/p>\n<div class=\"apply\">\n<h3>\u00a0<\/h3>\n<\/div>\n<a href=\"https:\/\/www.vskills.in\/practice\/business-accountant\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-92060 aligncenter\" src=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Add-a-subheading.png\" alt=\"certified business accountant free practice test\" width=\"960\" height=\"150\" srcset=\"https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Add-a-subheading.png 960w, https:\/\/www.vskills.in\/certification\/tutorial\/wp-content\/uploads\/2020\/12\/Add-a-subheading-300x47.png 300w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/a><\/li>\n<\/ul>\n\n\n<p><a href=\"https:\/\/www.vskills.in\/certification\/tutorial\/business-accountant\/\" target=\"_blank\" rel=\"noreferrer noopener\">Go back to Tutorial<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Go back to Tutorial It is a principal book of accounts where similar transactions relating to a particular account are recorded. Ledger book contains accounts and is one of the most important books of account. It is defined as a book or register which contains a permanent record of all transactions in a summarized and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[3333],"tags":[5592,2896,5591,5590],"class_list":["post-8723","page","type-page","status-publish","hentry","category-business-accounting","tag-define-ledger","tag-ledger","tag-meaning-of-ledger","tag-what-is-ledger"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vskills Business Accountant Tutorial | What is a Ledger ?<\/title>\n<meta name=\"description\" content=\"Ledger is a principal book of accounts. Learn more about ledger. practice and validate your skills to become a Certified Business Accountant!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/ledger-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vskills Business Accountant Tutorial | What is a Ledger ?\" \/>\n<meta property=\"og:description\" content=\"Ledger is a principal book of accounts. 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