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general ledger

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › general ledger

  • This topic has 3 replies, 2 voices, and was last updated 6 years ago by AvatarJohn Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • December 5, 2019 at 12:25 pm #555074
    Avatarbeticopper
    Participant
    • Topics: 69
    • Replies: 13
    • ☆☆

    in your lectures you said general ledgers and nominal ledgers are the same thing so error of general/nominal ledger should only affect list of balances then why do they affect control account only and not the list of balances?

    December 5, 2019 at 4:27 pm #555167
    AvatarJohn Moffat
    Keymaster
    • Topics: 57
    • Replies: 54837
    • ☆☆☆☆☆

    But what list of balances are you asking about? The list of balances in the general ledger, or the list of balances in the receivables and payables ledgers (which are not normally part of the double entry if the company is keeping control accounts)?

    December 6, 2019 at 11:36 am #555258
    Avatarbeticopper
    Participant
    • Topics: 69
    • Replies: 13
    • ☆☆

    i am talking about payables and receivable ledgers (memorandum accounts)

    December 6, 2019 at 1:59 pm #555284
    AvatarJohn Moffat
    Keymaster
    • Topics: 57
    • Replies: 54837
    • ☆☆☆☆☆

    It depends on the nature of the error.

    Please watch my free lectures on books of prime entry and on control accounts.

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘general ledger’ is closed to new replies.

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