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#fra-introduction
Journalizing is the process of chronologically recording transactions.

  • General journal is the simplest and most flexible.
  • A separate journal entry records each transaction.
  • Useful for obtaining detailed information regarding a particular transaction.

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Flow of Information in an Accounting System
It is important for an analyst to understand the flow of information through a financial reporting system. 1. Journal entries and adjusting entries Journalizing is the process of chronologically recording transactions. General journal is the simplest and most flexible. A separate journal entry records each transaction. Useful for obtaining detailed information regarding a particular transaction. 2. General ledger and T-accounts The items entered in a general journal must be transferred to the general ledger. This procedure, posting, is part of the summarizing


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