Money & Finance | Business Tips Philippines

Who are the Richest People in the Philippines in 2012?

March 8, 2012 Business Tips Leave a Comment

Forbes Magazine has just published its newest list of billionaires on the planet. The list, which is published on March 7, 2012 included an all time high 1,226 billionaires worth a record of $4.6 trillion. Mexican billionaire Carlos Slim Helu, once again named as the richest … [Read more...]

Examples of Adjusting Journal Entries in Accounting

March 8, 2012 Vic 5 Comments

In our previous post titled how to make adjusting journal entries (AJE), we have discussed the common types of adjusting entries, namely, accrued revenues, accrued expenses, unearned revenues, prepaid expenses, depreciation (estimation), change in accounting estimate, and prior … [Read more...]

How to Make Adjusting Journal Entries

March 7, 2012 Vic Leave a Comment

In our previous article, we’ve discussed about the preparation of a trial balance. After the trial balance is prepared, we need to ensure that our accounting records are accurate and our financial reports will be fairly presented. Adjusting journal entries (AJE) are necessarily … [Read more...]

How to Prepare a Trial Balance

March 5, 2012 Vic 1 Comment

A trial balance is an internal accounting statement prepared to check the accuracy of the company’s accounting records. As the “trial” on its name suggests, it is made to check if there are errors committed during the accounting process, which involves journalizing and posting … [Read more...]

How to Post Journal Entries to the General Ledger

February 26, 2012 Vic 5 Comments

After journalizing your business transactions, that is, recording them in the general or special journals, the next step is to post those journal entries in the general ledger accounts. To learn about recording transactions in the general journal, please read our previous article … [Read more...]